Company Formation in Ajman Free Zone

Ajman Free Zone

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AJMAN FREE ZONE

Ajman Free Zone

Ajman Free Zone, established in 1988, is one of the United Arab Emirates’ most compact yet highly developed free zones. This strategic free zone benefits from its location, allowing it to cater to both Western and Eastern markets effectively.

Companies operating within the Ajman Free Zone enjoy exceptional connectivity, with access to four seaports and two international airports. All regulations and guidelines in the Ajman Free Zone fall under the jurisdiction of the Ajman Free Zone Authority (AFZA). AFZA is responsible for overseeing the entire business setup process and the issuance of business licenses to companies, ensuring a streamlined and efficient setup procedure.

Advantages of Company Formation in Ajman Free Zone

Company Formation in Ajman Free Zone offers numerous advantages, making it a proven path to success for many entrepreneurs. The key benefits of initiating a company formation in Ajman Free Zone are as follows:

100% Ownership for Expatriates

DIC is focused on information technology and provides an ideal environment for IT companies, software development, and digital marketing firms.

Tax Benefits

There are no personal or corporate taxes, providing a favorable financial environment.

Repatriation of Profits and Capital

Companies can repatriate 100% of their profits and capital, enhancing profitability.

Advanced Infrastructure

Ajman Free Zone boasts modern and advanced infrastructure facilities.

Flexible Lease Terms

Businesses can lease commercial or industrial space for up to 20 years, with the option to extend for an additional 20 years.

Strategic Connectivity

The free zone is well-connected to various regions, facilitating trade and business operations.

Efficient Setup

Quick and straightforward business setup procedures are in place, reducing administrative hassles.

Import and Export Advantages

No export or import duties, allowing for cost-effective trade operations.

Affordable Office Spaces

Offices equipped with modern amenities are readily available at affordable rates.

Reasonable Energy Charges

Reasonable energy charges contribute to cost savings.

Documents Required for Ajman Free Zone Company Formation

The specific documents required may vary based on the type of company you plan to establish. Here’s a general list of documents needed for new business entity formation:

For a New Business Entity :

Business plan (for commercial or industrial license)
Copies of the passports of shareholders and the proposed manager
Passport size photographs (3)
Three proposed names for the company

For a Branch of a Foreign Company (in addition to the above documents):

Memorandum of Association (MOA)
Articles of Association (AOA)
Certificate of Incorporation
Board Resolution
Feasibility study report (as required)
Power of Attorney (if necessary)

For a Branch of a UAE-based Company (in addition to the documents required for a new company, the following are needed):

Certificate from the Chamber of Commerce and Industry
Original company license
Company registration documents
Prepared business plan (for commercial or industrial establishment)
Additional documents as requested by the authority

Please note that the specific documentation requirements may vary depending on the nature of your business and other factors. It’s advisable to consult with Ajman Free Zone authorities or a registered business service provider for precise and up-to-date information based on your company’s unique circumstances.

Documents Required for Ajman Free Zone Company Formation

When engaging with a seasoned company formation expert, embarking on your journey to set up a business in Ajman Free Zone becomes a straightforward process, encompassing just five key steps.

Step 1: Define Your Business Activities

The initial and crucial step in initiating any business venture in the UAE is to delineate your business activities. Ajman Free Zone (AFZ) welcomes a wide range of activities, in compliance with UAE regulations, such as accounting, consultancy, hospitality, IT, marketing, trading, and transportation. While the flexibility of business activities in AFZ is a notable advantage, it is imperative to list all intended activities in your license application to prevent potential complications down the road.

Step 2: Select Your Company Name

The subsequent step involves choosing a suitable company name. This process requires additional consideration in Ajman, as the UAE adheres to a distinctive set of naming conventions that may differ from those in other regions. When selecting a name for your business, it is essential to abide by UAE guidelines, which prohibit offensive or blasphemous language and any references to Allah or Islam. If you intend to incorporate your own name into your company name, the full name must be used, rather than just the surname or initials. Furthermore, it is necessary to confirm the availability of your chosen name for company registration. A company formation expert can assist in this step, providing name suggestions and verifying name availability.

Step 3: Submit Your License Application

The subsequent and pivotal step for company formation in Ajman Free Zone is to submit your license application. The application process varies depending on the type of business you aim to establish. Several options are available, including setting up a branch of a local or foreign company, forming a Free Zone Company (FZE), or establishing a Free Zone Entity (FZE).

Step 4: Visa Application

With your license successfully obtained, the next phase involves applying for the necessary visas. A company formation expert can efficiently manage this step for you, in conjunction with your license application. During this stage, you can apply for your own visa, as well as those for your employees and dependents, including your spouse, children, and domestic staff. The number of visas you can apply for is often contingent upon the size of your business and the chosen license package. Obtaining visas for dependents is typically straightforward, provided you meet the requisite eligibility criteria.

Step 5: Establishing a Corporate Bank Account

The final stage in launching your Ajman Free Zone company entails opening a corporate bank account. This step can be intricate, particularly for international entrepreneurs, as there is a multitude of local and international banks, each with its specific application and acceptance criteria. Working with an expert during this process is highly recommended. In addition to guiding you on the most suitable bank for your business, we can also facilitate meetings with financial institutions.

Ajman Free Zone Company Cost

When estimating the cost of setting up a business in Ajman Free Zone, it is challenging to provide a precise figure. The exact expenses are contingent on several factors, including your business activities and the size of your organization.

Nonetheless, it is worth noting that establishing a presence in a free zone is among the most cost-effective ways to conduct business in the UAE. Ajman is renowned for its favorable business environment, characterized by relatively low operational costs, making it an accessible choice for businesses across various budget scales.

Corpin Consultants for Effortless Company Formation

Corpin Consultants is among the most reputable organizations in the UAE, known for providing comprehensive company formation services in UAE. We have extensive experience in assisting both expatriates and residents in establishing businesses in various regions of the country, including Ajman, Dubai, Abu Dhabi, Sharjah, and more.

Our commitment to delivering trustworthy and dedicated services has played a pivotal role in the successful formation and growth of numerous business firms throughout the UAE. If you are considering company formation in Ajman Free Zone, we are here to offer the highest level of support and expertise. Please feel free to get in touch with us to discuss your specific requirements and initiate the process. Your business goals in the UAE are our priority, and we are here to guide you every step of the way.