The other emirate

Somewhere amongst the Dubai-Sharjah traffic you’ll find Hamriyah Free Zone, Sharjah’s addition to the UAE’s long list of economic developments

Sharjah’s Hamriyah Free Zone has access to both east and west coasts

An interesting piece trivia – which of the seven emirates has sea ports on both the east and west coasts of the UAE? By now you’ve guessed Sharjah. And you should know Sharjah’s Hamriyah Free Zone (HFZ) is the only economic zone in the region to take advantage of this location.

HFZ manages an area of approximately 22 million sq metres of industrial and commercial land and a 14 metre deep water port which is poised to expand. It is also close to Sharjah International Airport’s cargo hub.

Like most free zones, HFZ offers a 100 per cent tax-free environment, 100 per cent company ownership, full exemption from commercial levies, and repatriation of capital and profits.

If you are establishing a FZE or an FZC, the minimum capital requirement is AED 150,000 (US$41,000), but there is no minimum capital required when setting up a branch of a foreign or local company.

Since it opened in 1995, HFZ has welcomed several interesting projects, in particular Air BP and the Sharjah government’s AED 118 million (US$32 million) jet fuel pipeline and storage facility. Those involved say the facility will eliminate about 50 round trips by fuel tankers on Sharjah’s roads every day, somewhat easing traffic congestion.

The 50,000 metric tonnes facility includes a 45,000 sq metre jet fuel storage terminal and a 45 kilometre pipeline linked directly with the airport.

It is designed to boost Sharjah International Airport’s operational capabilities
and increase its potential refueling capacity in line with the northern emirate’s projected aviation industry growth, spearheaded by the growth of low-cost carrier Air Arabia. “The new facility is a highly strategic asset and it will provide a solid growth platform for Sharjah’s aviation sector and its flagship airline Air Arabia, whilst introducing internationally accepted safety and environmental standards for the emirate’s people, today and for the future,” says Sheikh Sultan Bin Ahmed Bin Sultan Al Qasimi of Sharjah Petroleum Company.