Ajman Media City Free Zone is the latest and one of the fastest-growing freezones in the UAE. Launched in 2018, the Ajman Media City Free Zone (AMCFZ) has been set up with the primary goal of attracting business people from media, entertainment, and technology industries. The Free Zone offers affordable company formation packages for entrepreneurs and professionals with the benefit of speedy processes.
Major Benefits of Setting up a Business in AMCFZ
- Wide range of business packages with a shared office
- Physical Presence of business owner not needed
- Easy registration process
- No NOC required
- A license will be issued within a day
- 100% foreign ownership
- 100% repatriation of capital and profits
An Overview of the Company Structures in AMCFZ
Free Zone Establishment (FZE)
Under the Free Zone Establishment category, entrepreneurs can start a company in Ajman Media City Free Zone which is owned by a single shareholder.
Free Zone Company (FZCO)
Business people mostly prefer the Free Zone Company setup to other types of company formation in the AMCFZ. The main benefit of this type of company formation is that it requires a minimum of two shareholders.
This is one of the most widely preferred business entities and can be formed by a minimum of two shareholders, who can be an individual or a company.
Branch of a Foreign Company
Companies that already enjoy a presence outside the UAE can set up a branch in the free zones. By opening a branch office in the AMCFZ, such businesses get benefits from UAE’s dynamic business landscape.
Branch of a UAE company
This is an ideal way of company formation for businesses that operate already in the UAE. AMCFZ allows UAE companies to expand by setting up their branch within the Ajman Media City Free Zone.
The Procedure of Forming a Company in AMFCZ
Ajman Media City Free zone offers a speedy and smooth process of business setup. The general requirements are designed to be smooth and hassle-free. The following steps needed to be followed while setting up a business in Ajman Media City Free Zone.
- Selection of business activity for the company
- Selection of the company formation package according to the requirements of the business & Visa & office requirement
- Filling up of application form and submission of all the required documents
- Waiting for approval from AMC Free Zone Authority
- Once approved, the companies will be given incorporation documents including Certificate of Incorporation, Memorandum of Association & Article of Association.
Types of Business Setup Packages Offered by AMCFZ
The Ajman Media City Free Zone offers a multitude of packages for business people to establish a company here. The packages are designed based on the business activities and office space requirements. The following are the major company formation packages in AMCFZ:
Business Club Package
AMCFZ defines the Business Club Package as a shared workspace and allocates limited time per month to the business owners. Companies formed in the business centre as per this package can enjoy a free zone status but will not be eligible for the visa. Entrepreneurs opting for this package can start their business at the cost of AED 8,500.
This package comes at the cost of AED 11500. The Bronze Package offers a shared permanent office in the state of the art premises of AMCFZ. Companies formed under this business package will be eligible for one visa and will have a free zone status.
Opting for this form of business setup will get the company owners a shared permanent office. Such companies established under the Silver Package will be eligible for 2 visas and will have a free zone status. The package comes at the cost of AED 14500 with additional charges including VAT Charges, Innovation Fee and Company Name Approval.
Silver Plus Package
At a cost of AED 17,500 with additional charges, business owners can get a shared permanent office at the AMCFZ with eligibility for 3 visas and a free zone status.
The Gold Package offers an executive office within the AMCFZ with the eligibility for 5 visas and a free zone status. The package comes at the cost of AED 25,500 with additional charges of VAT, Innovation Fee, and Company Name Approval.
Social Media Influencer Package
This package is designed for Bloggers and social media influencers who are vital in boosting the growth of companies or brands with their marketing strategies. The new UAE regulations mandate that social media influencers need a formal company to conduct the business. The influencers require approval from the National Media Council Ajman Media City that has tied up with the National Media Council and will assist influencers in setting up their company and obtain approvals for conducting their business as per the UAE laws.
This package comes at a cost of AED 2,500 for a single influencer account and AED 10,000 for multiple influencer accounts. Approval from the National Media Council will cost AED 260.
This is also called the customized package offered by Ajman Media City Free Zone. This is the best option for the companies that require more than 5 visa and comparatively a larger office space. The cost of the platinum package varies as per the requirement.
Documents Required for forming a Company in AMCFZ
The process for setting up a company in Ajman Media City Free Zone will depend on the nature of the business and the package that aligns with the needs of the company. In most cases, however, the following documents can be submitted along with the application form:
- Completed application form
- Passport copy of the proposed owner or owners
- Two passport size photos in color
- Three company name options
- Latest UAE entry stamp (in case of visa package)
Documents Required while Setting up a Subsidiary or a Branch of a Foreign Company in AMCFZ
The procedure of setting up a branch company in the AMCFZ may vary slightly. The following documents of the parent company (legalised and attested from UAE Embassy in the home country of the parent company and also attested from Ministry of Foreign affairs in UAE) are required to be submitted along with the business registration application form:
- Completed application form
- Certificate of Incorporation of the mother company
- Memorandum and Articles of Association of the mother company
- Board Resolution detailing the formation of the branch or the subsidiary nominating authorized manager
- Passport copy of the representative or manager of the company. It should have 6 months validity
- Two colored photos of the manager
How Jitendra Business Consultants Can Guide You in AMCFZ Company Formation?
Setting up a business in the Ajman Media City Free Zone is generally a hassle-free process. However, seeking the help of an experienced business consultant is indispensable to avoid errors in the process of company formation. Jitendra Business Consultants have a well experienced and qualified team of consultants who provide you with company formation solutions including company registration, processing of paperwork, and trademark registration. Our business consultants will assist you in every stage of company formation, from the preparation and managing of legal documentation and acting on your behalf when dealing with authorities, to initial application/registration and visa and license processing.