COMPANY FORMATION IN AJMAN FREE ZONE
Ajman Free Zone (AFZ) was established in 1988, leading to massive industrial development in Ajman by attracting a great number of companies to benefit from the investment privileges, thereby strengthening industry and trade and the financial sector in the UAE. Ajman is one of the seven emirates of the United Arab Emirates and it’s located in northern emirates. Company formation in Ajman Free zone is hassle-free and efficient. Ajman Free zone offers E-Office, smart offices, physical offices and warehouses.
When it comes to Company formation, AFZ provides competitive privileges and facilities allowing companies to get a considerable return on their investment. AFZ continues to develop its infrastructure, spending millions of Dirhams along its free zone area of more than one million square meters
Benefits of Forming a Company in Ajman Free Zone:
- 100% ownership of the establishment/company.
- 100% foreign ownership.
- Easy transfer of capital and profits.
- Exemption from personal income tax.
- Exemption from import and export duties.
- Exemption from other taxes.
- Competitive prices on facility usage.
- Competitive prices for power/electricity.
- Competitive prices on leasing.
- Easy access to low cost labor.
- Well-developed infrastructure.
- One-stop counter service for effecting transactions (residency, visa, etc.).
- Fast and easy procedures and in most cases, license within 24 hours.
Ajman free zone is best suited for trading companies, advanced technology and health-related services. One of the advantages to companies in Ajman free zone is its excellent port facilities.
Types of Business setup licenses in Ajman Free Zone:
- Business Licenses.
- E-Commerce Licenses: electronic trading activities.
- Service Licenses: service activities within the free zone such as management, marketing, IT consultancies etc.
- Industrial Licenses
Legal entities under Ajman Free Zone:
- Free Zone Establishment (FZE) – a single shareholder.
- Free Zone Company (FZC) – two to 50 shareholders.
- A branch of an existing company.
Steps Involved for Setting up a Business in Ajman Free Zone.
- Trade name approval from Ajman Chamber of commerce
- Prepare MOA in case of Partnership Company and sign by the partner.
- Payment of the trade license fees
- Issue of the trade license
Personal presence of the shareholder is required at the time of the incorporation. In the absence of the personal presence, a shareholder can give power of attorney (POA) to other shareholders or anyone to form the company on his or her behalf. POA should be notarized and legalized in the country of the origin and the same will be attested from Ministry of Foreign affairs in UAE.
If you need additional assistance or have any questions, please contact the following:
Tel: +971 4 343 8022