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Shams Free Zone and Mashreq NEO BIZ Partner on Banking and Tax Enablement

Sharjah Media City hosted the second edition of 'Shams Connect' in partnership with Mashreq NEO BIZ to assist startups and business owners. The initiative integrates corporate bank account opening into the licensing process and offers compliance guidance. Officials from the Federal Tax Authority also provided briefings on recordkeeping and mandatory e-invoicing obligations.

Published Source: Emirates News Agency (WAM)
Issuing authority
Sharjah Media City (Shams), Federal Tax Authority
Jurisdiction
United Arab Emirates
Publication date
November 2, 2026
Official source
wam.ae
Illustration: A modern commercial business center and corporate office desk in Sharjah featuring digital financial tablets, business documents, and hi
Illustration

Sharjah Media City (Shams) free zone has held the second edition of its 'Shams Connect' initiative in collaboration with Mashreq NEO BIZ, according to the Emirates News Agency (WAM). The initiative is aimed at assisting registered business owners and startups operating within the free zone.

The partnership between Shams and Mashreq NEO BIZ focuses on accelerating the opening of corporate bank accounts and embedding financial support services directly into the free zone's business licensing process. The event also introduced business enablement tools created in collaboration with technology providers.

Representatives from the UAE Federal Tax Authority (FTA) participated in the sessions to advise attendees on tax compliance requirements, financial recordkeeping standards, and upcoming mandatory e-invoicing regulations.

Shams leadership stated that the free zone is extending its scope beyond initial company incorporation to deliver end-to-end corporate and digital compliance infrastructure for its registered entities.

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