Ajman Free Zone company setup

The UAE’s business environment seems to be always flourishing, which attracts attention from all over the world. It’s easy to understand why it has earned this reputation. In addition to having zero percent corporation tax rates on both personal and corporate income, the Emirates are well-positioned in the center of the Middle East, making them the ideal hub for conducting global business.

The country’s free zones come next. These economic zones attract entrepreneurs from all over the world with a range of tax advantages and freedoms, including no currency limits and the possibility to repatriate 100% of your capital and profit.

Consider the Ajman Free Zone (AFZ). AFZ, which was founded in 1988, provides both domestic and foreign business owners with state-of-the-art facilities and an advanced infrastructure. The free zone has excellent access to international seaports, airports, and numerous major highways, making it very well-connected. Additional advantages of free zones are as follows:

· 100% foreign ownership

· No paid-up share capital requirements

· Physical presence in the UAE not required for incorporation

· No NOC requirement from current visa sponsor

· Low start-up and operational costs

· No mandatory office rental requirements

· No visa restrictions

· No annual audit requirement

· No currency restrictions

· Access to state-of-the-art facilities

It is simple to register a corporation in the Ajman Free Zone with the correct assistance and direction. This is all the information you need to launch your own business.

Why do business in Ajman?

International business owners should think about establishing a presence in Ajman for a variety of reasons. As previously said, the emirate enjoys a prime location that provides easy access to neighboring emirates and beyond. The airports of Dubai International and Sharjah International are also conveniently located, as are the ports of Ajman and Khorfakkan.

Ajman also has abundance of reasonably priced labor, friendly company regulations, and minimal startup expenses.

Your step by step guide to Ajman Free Zone company setup

There are only five easy stages involved in setting up an Ajman Free Zone firm when you deal with a company formation professional.

Step one: Outline your business activities

Selecting your business activity or activities is the first stage in beginning any kind of business in the United Arab Emirates. The majority of UAE-permitted activities, such as accountancy and bookkeeping, consulting, hospitality, IT, marketing, trading, and transportation, are welcomed in AFZ.

Even though there is a lot of flexibility in the kinds of businesses you can run in the AFZ, it is imperative that you include a list of all planned activities on your license application. If this isn’t done, there may be serious issues later on.

Step two: Choose your company name

Selecting a firm name is the following stage. In Ajman, as opposed to most other parts of the world, this stage requires a little more consideration because the UAE has rigorous, but manageable, name conventions that are unfamiliar to visitors.

You need to be aware that the name you choose for your company cannot contain any references to Islam or Allah, nor can it contain any derogatory or blasphemous words. You cannot use simply your last name or initials in place of your entire name if you want it to appear in your company name. Lastly, you need to confirm that registering your selected name is possible. Once more, a business formation specialist can assist you with this phase by offering options and verifying that the name you have selected is available.

Step three: Make your license application

Making your application is the next—and most crucial—step in starting your business in the Ajman Free Zone. Depending on the kind of business you want to start, there will be differences in the precise procedure. A Free Zone Company (FZE), a Free Zone Entity (FZE), or a branch of a domestic or international company are the options available to you.

In most cases, you will be asked to provide:

· A passport copy with six months validity for each partner

· One colour photograph for each partner

· No Objection Letter from the existing sponsor if the applicant is a resident of the UAE

· A business plan if applying for an Industrial or Service license

If you wish to open a branch, you may also be asked to provide:

· Memorandum and Articles of Association

· Board Resolution

· Certificate of Incorporation

· Power of Attorney

· A Registration Certificate issued by the competent authority in the country in which the company is registered.

You can get your business license in as little as one business day if your application is accurate and comprehensive. It is a good idea to collaborate with a business formation specialist during the whole incorporation process to make sure this is the case.

Step four: Applying for visas

Now that your license is safe, you can apply for any necessary visas. This phase and your licensing application can be handled by a company formation specialist.

You are able to apply for a visa for yourself, your dependents (spouse, kids, and domestic help), and your employees.

The majority of the time, the size of your company and the license package you select will determine how many visas you are able to apply for. If you match the eligibility requirements, the procedure of applying for a dependant’s visa is rather simple.

Step five: Opening a corporate bank account

Creating your corporate bank account is the last step in starting your Ajman Free Zone firm. For global business owners, this isn’t always an easy procedure. It can be confusing to pick between the various local and foreign banks because they all have distinct application and acceptance requirements.

This is yet another justification for why consulting with an expert is a smart idea during this procedure. In addition to offering guidance on which bank would be best for your company, we can schedule meetings with financial institutions.

Ajman Free Zone Company cost

It’s challenging to provide an approximate cost for Ajman Free Zone businesses. The precise amount will vary depending on a number of criteria, including the size of your organization and your commercial activity.

On the other hand, one of the most economical ways to conduct business in the United Arab Emirates is to establish your company in a free zone. Establishing a business in Ajman is feasible for most budgets due to its reputation for having minimal operating costs.

Starting your business in Ajman Free Zone

As you can see, there are just five easy steps involved in Ajman Free Zone Company Setup in UAE. The procedure might not be tough, but it does call for a skilled eye. Your application may be rejected or delayed if it contains any faults. For this reason, hiring a company setup expert to assist you in starting your firm is a smart choice. Working with a company setup specialist only requires you to supply a few basic documents and some information about your type of business. After that, just relax and let the professionals handle all of the paperwork associated with getting your license and visa, liaising with the appropriate authorities and departments, and reporting back when you’re ready to begin trading. It is that easy, honestly.