Ajman provides cost-effective options for business registration in Ajman Free Zone in addition to offering various other beneficial incentives to foreign investors. This free zone was established in 1988. Presence of world-class infrastructural network, flexible legal framework, tax incentives, and excellent logistic facilities are some of the advantages that make business setup in Ajman a highly lucrative investment. Moreover, Ajman has a strategic location at the entrance of the Arabian Gulf, with proximity to Sharjah and Dubai, and convenient accessibility to four ports and two international airports, Ajman Free Zone is aptly situated to serve the eastern and the western markets. The governing body responsible for getting companies registered and issuing licences in Ajman free zone is Ajman Free Zone Authority (AFZA).
Benefits of Setting Up a Company in Ajman Free Zone
- Provision of 100% foreign ownership
- 100% repatriation of capital and profits
- Exemption from corporate tax, import/export tax, personal income tax, and customs duty for goods and services
- A host of amenities to offer like business facilities (conference room and business meeting rooms), 24-hour security services, bank services, postal services, advanced communication systems, etc.
- Provision of a 20 year land lease, renewable for another 20 years, thereby guaranteeing legitimate tax exempt operations for 40 years
Ajman Free Zone – Legal Entities
An individual or corporate entity may set up their business in Ajman free zone in any of the following forms:
- Free Zone Establishment (for a company with a single shareholder)
- Free Zone Company (for a company with 2-5 shareholders)
- Branch Office of a Foreign Company (where the applicant is a foreign national)
- Branch Office of a Local Company (where the applicant is a UAE national)
Process of Setting Up a Business in Ajman Free Zone
For setting up a business in Ajman free zone, an investor needs to carry out the following processes.
- Submit a duly filled application form to Ajman Free Zone Authority (AFZA) along with the required documents
- Register the application (with the date of submission written on the application) with the registration office
- The application is processed on the same date as that of application submission
- The Free Zone Authority intimates the applicant about the decision taken on the day of application itself
- If the application is accepted, the Free Zone Authority notifies the applicant whether the decision was conditional or unconditional. The relevant license is issued if the application meets all the requirements and the prescribed fees has been paid
- If the application is rejected, the Free Zone Authority notifies the applicant with reasons for the rejection of application within 15 days from the date on which the applicant was notified of the rejection. In case the applicant choose to oppose the application rejection, the Free Zone Authority reviews the opposition and issues its final decision within 30 days from the date of submitting the opposition. If a decision is not issued within 30 days, the opposition is considered to have been rejected
Documents Required for Company Formation in Ajman Free Zone
- Proof of trade name reservation
- Proof of initial approval for business activities
- Passport copies for the shareholders
- Passport copy and CV of the manager
- Personal Information sheet for each shareholder & manager
- Lease agreement [possessing a physical address for one’s office is mandatory in the UAE]
- Third party/authority approval for activities, where applicable
Business setup in Ajman is a lucrative choice for entrepreneurs who are looking to capitalize on their investments in the smartest possible way. Business Setup Worldwide is a one-stop solution provider helping foreign investors setup their dream operations in Ajman by taking care of their entire business setup requirements including, banking, licensing, registration, documentation, and all other legal formalities. Our team leaves no stone unturned to ensure that your process of setting up a company here is hassle-free and delightful.