Sharjah Free Zones are always the best choice for entrepreneurs to start their businesses because of the fast and transparent processing of applications. Furthermore, the free zones in Sharjah provide cost-effective licenses with a variety of business activities. Despite these factors, the immigration rules in Sharjah are very strict and dynamic. They closely monitor changes around the world and issue notices and rulings accordingly. It is now mandatory for all types of residence visa applications to include proof of insurance coverage in Sharjah.

When starting a new company in any of Sharjah’s free zones or in the mainland of Sharjah, the license holder should obtain valid insurance from an authorized insurance company starting from March 1, 2024, onwards. It is mandatory to have valid medical insurance when submitting the license application. Applications without valid medical insurance will be immediately rejected by Sharjah Immigration, and the applicant will have to resubmit the application with insurance. Therefore, it is better to obtain medical insurance early to avoid delays in licensing.

While hospitals in the UAE maintain world-class standards, the costs of treatment are expensive. The new immigration rule effectively mitigates the risk of any future medical situations that may incur high costs for residents. Thus, it ensures the medical security of each resident of the Emirate of Sharjah. From an entrepreneur’s viewpoint, it is a wise and prudent decision to secure medical insurance in advance because it provides financial assurance against any medical emergencies in the future. Due to this financial safety net, the momentum of their business will not be disrupted.

The government suggests some selected insurance companies from which to obtain medical insurance. Medical insurance from an authorized company will be approved by the Immigration Department. The following are the approved insurance companies for medical insurance.

Approved Insurance Companies By Sharjah Immigration

• Saudi Arabian Insurance Company B.S.C (Damana)
• Jordan Insurance Co. Ltd
• Al Dhafra Insurance Company
• Al Watania Takaful
• Union Insurance
• Al Fujairah National Insurance Company P.S.C
• Al Buhaira National Insurance Co
• Alliance Insurance
• The Mediterranean & Gulf Insurance & Reinsurance Company – Medgulf
• Al Ain Ahlia Insurance Company
• Arabia Insurance Company
• Takaful Emarat – Insurance P.S.C
• The Oriental Insurance Company Limited
• Al Ittihad Al Watani
• Yas Takaful
• Hayah Insurance Company
• Al Wathba National Insurance Company
• Islamic Arab Insurance Company ‘Salama
• Orient Insurance Company
• Al Saqr National Insurance Co (PSC)
• Insurance House
• Ras Al Khaimah National Insurance Co PSC
• Dubai Insurance Company P.S.C
• Tokio Marine & Nichido Fire Insurance Co. Ltd
• Orient UNB Takaful P.J.S.C (Under Al Futtaim Group)
• Abu Dhabi National Takaful Company – P.S.C – Takaful.
• Emirates Insurance Company P.S.C
• Cigna Insurance Middle East S.A.L.
• Methaq Takaful insurance Company
• Adamjee Insurance Company Limited
• National Life and General Insurance Company SAOG
• Qatar Insurance Company
• United Fidelity Insurance Company
• The New India Assurance Co. Ltd.
• Dubai National Insurance (DNIRC)
• National General Insurance Co
• Arabian Scandinavian Insurance Sukoon Takaful
• GIG Gulf Insurance
• The National Health Insurance Company (Daman) P.J.S.C
• Sukoon Insurance P.J.S.C
• Metropolitan Life Insurance Company
• Abu Dhabi National Insurance Company
• Iran Insurance Company

The medical insurance cost starts from 800 dirhams. The costs may vary according to the age of the applicant.

Why does the selection of the right business consultants matter?

When starting a company in Sharjah, the most important thing is selecting an experienced business consultant. They will ensure that your  licensing and other tasks like accounting, bookkeeping, and bank account opening are executed without delay and mistakes. This is crucial because choosing a substandard agency to save a small amount of money can lead to significant trouble. The rules and regulations are complex, and without the right knowledge of packages, you may lose a significant amount of money during renewal or liquidation, etc.

How 3A Global Corporate Services Provider Can help Your Business?

To get a license in Sharjah requires an experienced and talented pool of professionals. We have 16 years of experience in company formation  in the UAE. Feel free to contact us for expert advice.

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