The Emiri Decree No. 3 of 1996, signed by H.H. Sheikh Humaid Bin Rashid Al Nuami, the ruler of Ajman, gave the Ajman Free Zone an independent status. As a result, the number of companies forming in the free zone seems to have increased over the past several years.
The Ajman Free Zone Authority controls Ajman Offshore's rules and regulations. It offers a Zero Taxation System and maintains the company's secrecy, privacy, and security just like any other offshore jurisdiction (The offshore company is the address of the registered agent).
Ajman Offshore Jurisdiction
For businesses that operate in global marketplaces, an offshore business setup structure is ideal. It aids in lowering operating costs, saving money on taxes, protecting identity, avoiding customs fees, etc. Moreover, due to its closeness to the Ajman Port and excellent transport connections to the rest of the UAE and the Middle East, the Ajman Offshore is one of the most profitable commercial destinations.
For businesses engaged in international trade, export/import, logistics, shipping, etc., the Ajman Offshore is the ideal option. Ajman Offshore is one of the world's most sought-after Offshore Zones due to its benefits. Investors, such as the lack of the need to rent an office or industrial space, the lack of registration with the Chamber of Commerce, the lack of a residency visa requirement, tax savings, the absence of customs duty, etc., are some of the benefits this zone offers.
Benefits of Ajman Offshore Company Registration
An Ajman offshore is a convenient way to open a company in no time and brings with it the following benefits:
- Provision of 100% foreign ownership
- No restriction on the repatriation of capital or profits
- No corporate or personal tax
- Confidentiality and protection of assets
- No foreign currency restrictions
- Swift incorporation – in 2 days
Approved Business Activities in Ajman Offshore
Ajman offshore offers various business activities. Some of them are as follows:
- Advisory/Consultancy Services
- Commission Agents/Brokers
- General Trading
- Professional Services
- Investment and Joint Investment Companies
- Stake holding
The procedure of Ajman Offshore Company Formation
The following actions are essential in order to establish an offshore business in Ajman:
1. Choose a Trade Name
Choosing a company name is the first action that must be taken. Then, according to the regulations, three suggested names that fit the business's activities must be shortlisted.
2. Submit the Documents
You'll need the following paperwork to continue:
- A passport copy of each of the shareholders
- Original proof of residence of each of the shareholders
- A bank reference letter for each of the shareholders
- A CV of each shareholder in English
- Memorandum of Association (MOA) and application for setting up an Ajman offshore company
The procedure is easy and uncomplicated. If there are no discrepancies in the papers, they will be approved by the Ajman Free Zone Authority within a day or two, and you will be able to proceed.
3. Document Signatures
We could draught the Memorandum and Articles of Association and mail them for signature after receiving the above paperwork and the payments.
4. Make use of the extra services offered
The following stage is for you to utilize our extra services for your needs. Get to know about BSW Ajman offshore company setup cost and avail our services.
5. Obtain the Required Documents
The last step is receiving digital copies of your critical papers.
Documents Required for Ajman Offshore Company Registration
The documents required to register an offshore company in Ajman are:
- Passport copies of the directors and shareholders
- Address proofs of the directors and shareholders [in case utility bills are given for the same, they shouldn’t be over 3 months old]
- CV of the shareholder stating educational and professional background
- Bank reference letter
Why BSW
Business Setup Worldwide helps small, medium and large enterprises concretize their business. For an Ajman offshore company, we can support you in company incorporation from start to end. Our team of experts ensures that your assets are safe and your company reaps the full benefits of capital repatriation and tax exemption.
We provide not only strategic business inputs on company formation but also handle legal and documentation formalities. Contact us for any help or advice on business setup for an Ajman offshore company; we’d be glad to help you.
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