Setting up at SHAMS

• Prepare the identity pack for each shareholder: passport copies, photos, recent bank statements, proof of address, CVEvery application starts with the same identity documents — one set per shareholder.
• AnswerAnswer this first: who are the founders?Founder facts tailor the document list — shareholding drives the incorporation forms.
• Prepare activity-specific documentation — SHAMS activities need external approvalSHAMS flags approval-required activities in our data; regulators ask for extra evidence up front.

Typically runs alongside document preparation.

• AnswerAnswer this first: add up to 3 proposed company namesAuthorities take name candidates in preference order — clearance is first-come.
• AnswerAnswer this first: what will the company actually do? Set your activityThe licensed activity list is the licence — the checklist can't be concrete without it.
• Submit the application and pay the licence fee — from AED 5,760/yr plus AED 1,800 one-time registrationThe trade licence is the company's legal basis — visas and banking both hang off it.
• Book the flexi desk package — from AED 1,500/yrThe office tier gates visa quotas and is priced into renewal — book what the visa plan needs, not more.
• AnswerAnswer this first: when do you want to launch?The application runway is worked backwards from launch — without a date there's no timeline.

Waiting on: Licence application

• Open the company's immigration file (establishment card) once the licence issuesThe immigration file is the prerequisite for sponsoring any residence visa.
• AnswerAnswer this first: how many visas will you need? Take the visa checkVisa counts drive cost, the office tier, and the whole immigration timeline.

Waiting on: Licence application

• Shortlist banks — SHAMS lists partners: Mashreq, RAKBank, Emirates Islamic, Sharjah Islamic BankZone-partnered banks already know the licence type, which shortens KYC.
• Prepare the bank KYC pack: licence copy, MOA, shareholder passports, 6 months of statements, proof of address, source-of-funds declaration, short business planBanks ask for the same core pack — having it ready compresses weeks of back-and-forth into days.
• Plan for ~14 days of bank onboarding at SHAMSYou can't invoice or pay suppliers until the account opens — put it on the critical path.
• Set aside the minimum balance — from AED 10,000 depending on bankFalling below minimum balance triggers monthly fees that quietly eat the licence savings.

Waiting on: Licence application

• Register the company for UAE Corporate Tax with the FTACorporate tax is 9% on profit above AED 375,000 — and SHAMS's 0% QFZP route still requires registration.
• Register for VAT — projected Year-1 revenue crosses the AED 375,000 mandatory thresholdRegistration is due within 30 days of crossing the threshold — late registration carries penalties.
• Decide on an auditor early — SHAMS doesn't mandate audits, but claiming 0% QFZP treatment needs audited financialsAudited statements are one of the QFZP conditions — skipping them forfeits the 0% rate.
• Diarise the licence renewal — about AED 5,760/yr →Renewal is annual from the issue date — diarising it now is free insurance.