The business setup in Ajman Offshore is being regulated by the Ajman Free Zone Authority (AFZA) which is a renowned free zone jurisdiction in the UAE and globally. Since its inception in 1988 the Ajman Free Zone was the first choice for the Start-ups and SMEs and to take advantage of their reputation AFZA had launched Ajman offshore in 2014 to cater to the foreign as well as local investors who wants to buy the freehold properties in Ajman and do business outside of the UAE. Setting up an offshore company in Ajman is reasonable cost-wise and investors get the benefits of asset protection, zero tax structure, and business confidentiality.
Ajman is the smallest emirate in the United Arab Emirates (UAE), which lies on the coast of the Arabian Gulf, between the emirates of Sharjah and Umm Al Quwain. The Ajman Port and Ajman Free Zone are the main contributors to the economy of the emirate. Setting up a business in Ajman is cost-effective and comes with several other added benefits like land at lower prices and low-cost rentals space. Investors and entrepreneurs who are planning company formation in Ajman also benefit from easy access to two international airports and four ports
List of Activities Allowed Under Ajman Offshore Business Setup
Before deciding to start an offshore company in Ajman, investors are advised to verify the list of activities permitted for company formation. The following are the major business activities for Ajman offshore company formation:
- General Trading Business
- Consultancy or Advisory Service
- Holding Company
- Investments and Joint Investments Company
- Owning property
- Professional Service
- Shipping and ship management firms
- Commission Agents or Intermediary Brokers
How Offshore Company Formation In Ajman Is Beneficial For Investors?
- Quick and inexpensive registration process
- Investors can open bank accounts in UAE or worldwide
- Information about shareholders/ directors kept confidential
- 100% capital and profit repatriation
- 100% foreign ownership
- No need to have a physical office in the UAE
Salient Features of Ajman Offshore Company Formation
To set up an offshore company in Ajman the following requirements are to be met.
1. Number of Directors
Unlike the other offshore companies in the emirates, at least one and maximum 5 director are allowed for the purpose of establishing an offshore company in Ajman. However, it is important to note that corporate directors are not allowed. A single individual can also function as a shareholder as well as the director of the offshore company.
2. Requirements for Shareholders
Foreign investors who are planning to set up an offshore company in the Ajman Free Zone should note that the Ajman offshore can invest in the UAE companies on the mainland or in the free zones. Shareholders will decide the authorised share capital of the offshore company. However, shareholder will not get a residence visa based on the Ajman offshore company.
3. Appointment of Secretary
It is mandatory to appoint at least one secretary to take care of secretarial & administrative work of an offshore company. However, the Ajman Free Zone Authority allows a director to assume the position of a secretary.
4. Other Features
- A registered agent should be appointed and the agent’s address will be used as the address of the offshore company.
- The Ajman Free Zone Authority mandates that the company’s name should bear the suffix ‘Limited’.
- Offshore company formation in Ajman will take approximately 2-3 working days.
- Ajman Free Zone Authorities will record the details of directors and shareholder but it will not be made public.
Choose Jitendra Business Consultants to form an Offshore Company in Ajman
Jitendra Business Consultants (JBC) is a registered agent with the Ajman Offshore authority. As a registered agent, the JBC is committed to assist investors in setting up an offshore company in Ajman in an easy and cost-effective manner. JBC has a well-qualified team of business setup consultants who are experts in the rules, regulations, and requirements for setting up an offshore company in Ajman. The JBC business setup consultants handle all the required paperwork for company formation and provide the companies with the best solutions to achieve their business goals.
List of Documents Required for Offshore Company Formation in Ajman
The following documents are required for an Individual Shareholder:
- Passport copies with a validity of minimum 6 months
- Proof of residence
- CV of the shareholder
Corporate Shareholder or entity needs to furnish the following documents:
- Incorporation certificate or trade license copy that is duly notarised
- Valid copies of passports of representatives and directors
- Original incumbency certificate that is duly notarised
- Original good standing certificate (notarised)
- Notarised original shareholder’s resolution
- Copy of parental company’s Memorandum and Articles of Association
In case of the foreign corporate shareholding, the documents of the foreign company have to be attested in the country of the origin by UAE embassy in that country and once again from MOFA ( Ministry of Foreign affairs) in the UAE.