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Ajman free zone company -setup

Ajman free zone company -setup

Ajman Free Zone company setup is generally known as entrepreneur’s paradise today with its bundle of matchless benefits. Ajman is strategically situated at the entrance of the Arabian Gulf; Ajman Free Zone is well positioned to work for the eastern and western markets to setup a business.

Location for Ajman free zone company setup

Ajman Free Zone (AFZ) is situated in the state of Ajman, one of the seven emirates of the UAE. The total area of ​​the Ajman, containing regional waters, is 324 km2, and without regional waters is 214 km2. The Ajman coastline in the Arab Gulf region is 8 km. Ajman Free Zone (AFZ) was established in 1988 that run to huge industrial development in Ajman by charming a big number of expat investments that advantage from the investment freedoms and free zone benefits.

For small & medium enterprises (SME) and entrepreneurs who find entry cost expensive, office space is available for 555$ per month and larger offices for 777$ per month in 12 installments. Ajman Free Zone business setup offers e-commerce licenses to its customers at a price far lower than other free zones.

Ajman Free Zone business setup entity Types

  • Free Zone Company (FZCO):In the case of more than one shareholder, then such company is called Free Zone Company.
  • Free Zone Establishment:If a company is incorporated by only one shareholder then such company takes a form of Free Zone Establishment that can be owned 100% by either individual or legal entity (company).
  • Branch of a Foreign Entity:Foreign entities can establish their presence in Ajman Free Zone by registering a representative or branch office.
  • Branch of a Local Company:Existing companies in the UAE can also register their branches in Ajman free zone.

Characteristics of Ajman free zone business setup

following are the main characteristics of Ajman free zone company setup

LEGAL ENTITIES PERMITTED Free Zone Company (FZC), Free Zone Establishment (FZE), Branch of a UAE Company (BLC), Branch of a foreign Company (BFC)
SHAREHOLDERS Minimum two and maximum five for FZC. One Shareholder for FZE
TYPE OF LICENSES ISSUED Trading, Industrial, Services & Commercial
SHARE CAPITAL Minimum AED 185,000 for FZE / FZC
 
MANAGER Every FZE / FZC company shall have a manager. It should be a natural person and his name shall be on license and must be on the visa of the company.
DIRECTORS Corporate directors are not allowed, Minimum number of Directors Two and Maximum four.
SHARES No bearer shares will be allowed. All shares must be fully paid when allocated. No different classes of shares allowed.
PRESENCE The shareholder has to be physically present either himself or through an attorney at the Free Zone.
RESTRICTIONS ON NAME Names must end with the word “FZE, FZC, BFC or BLC” as the case may be. Location names and religious words are prohibited.
AUDIT It is not compulsory for the company to submit audited financial reports to the Free Zone at this stage
GOVERNING LAW Companies are subjected to the UAE law in general and for some specific functions law of the Emirates of Ajman.
FACILITIES OFFERED Office units, Warehouse, Land & Harbor.
VISA ELIGIBILITY Employee Visa depending on size of office, type of company and activity. Investor Visa is available for those above 60 years of age
DISTANCE FROM DUBAI 40 kms
OTHER SERVICES Driving License and other functions will need to be from the relevant Ajman Government Department.

Advantages of business setup in Ajman free zone

  • Strategic Location with access to the sea, air and land
  • Cheap energy
  • 100% foreign ownership of company
  • The most economical wage structure and easy access to massive work force
  • No restriction on transfer of capital and profits
  • Total exemption from all import and export duties
  • No personal income and no corporate tax
  • Total elimination of all service charges and hidden fees
  • Competitive prices for power/electricity
  • Exceptionally low handling charges
  • Competitive prices on warehouse or office facilities usage
  • Fast and easy licensing procedures
  • 20 years land contract is renewable for another 20 years guaranteeing 40 years tax and customs free operations
  • World class infrastructure
  • One-stop shop service for licensing and visa applications
  • Lowest tariffs in the region

Types of license for Ajman free zone company formation

Following are the type of license allowed for Ajman free zone company formation

  • Service License:Services license allows providing specific services or consultancies within the free zone such as marketing, management, IT consultancies etc.
  • Trading License:Trading license allows import, export, trading and re-export of specific products.
  • Industrial License:Industrial licenses are issued for manufacturing business activities. Ajman Free Zone has necessary facilities such as smart stores and warehouses that support this activity.
  • E-commerce License:AFZ is one of the few free zones that issue E-Commerce License to do business through online platforms.
  • National Industrial License:National industrial licenses can be obtained by those who meet the following criteria:

License Cast for Ajman free zone business setup

Trade License option / activity Cost in AED
One Activity Trading License AED 4,000
Two Activities Trading License AED 5,300
Three Activities Trading License AED 6,600
General Trading License AED 9,200
Professional/Service License AED 6,600
Industrial License AED 9,200
National Industrial License AED 9,200
Our Firm Professional Fees AED 8,400

 Documents required for Ajman free zone company setup

Following are the list of documents required for Ajman free zone company setup

A FREE ZONE ESTABLISHMENT (FZE)

Following are the list of documents required for FZE type of Ajman free zone company setup

  1. Application Form
  2. Providing of 5 proposed names
  3. 10 color passport size photographs (white background)
  4. A passport copy that is valid for 6 months minimum. Entry visa stamp copy – or residence visa copy – or entry visa copy – or cancelled visa documentation copy (if applicable).
  5. A 2 page business plans if it’s a professional or e-commerce license. 1 paragraph A No Objection Letter from the sponsor in case the applicant has a valid residence in UAE
  6. description of the nature of the business if it’s a commercial trading or general trading company

A FREE ZONE COMPANY (FZC):

Following are the list of documents required for (FZC) type of Ajman free zone company setup

  1. Application Form
  2. Providing of 5 proposed names
  3. 10 color passport size photographs for all partners (white background)
  4. Passport copies valid for 6 months minimum, for each partner. Entry visa stamp copy (or) residence visa copy (or) entry visa copy (or) cancelled visa documentation copy (if applicable).
  5. A 2 page business plans if it’s a professional or e-commerce license. 1 paragraph description of the activity the nature of the business if it’s a commercial trading or general trading company
  6. A No Objection Letter from the sponsor in case the applicant has a valid residence in UAE

A BRANCH OF A LOCAL COMPANY (BLC):

Following are the list of documents required for (BLC) type of Ajman free zone business setup

  1. Application Form
  2. A passport copy that is valid for 6 months minimum, for the representative or manager of the company. Entry visa copy (or) Entry visa stamp copy (or) residence visa copy (or) cancelled visa documentation copy (if applicable).
  3. 10 color passport size photographs (white background)
  4. An original Trade License
  5. An original Commercial Registration Certificate
  6. An original Membership Certificate with the respective Chamber of Commerce
  7. A 2 page business plans if it’s a professional or e-commerce license. 1 paragraph description of the nature of the business if it’s a commercial trading or general trading company

Note: The parent company must have been active for at least 1 year prior to opening a branch.

A BRANCH OF A FOREIGN COMPANY (BFC):

Following are the list of documents required for (BFC) type of Ajman free zone business setup

  1. Application Form
  2. A passport copy valid for 6 months minimum, for the representative or manager of the company. Entry visa copy (or) Entry visa stamp copy (or) residence visa copy (or) cancelled visa documentation copy (if applicable).
  3. 8 color passport size photographs (white background)
  4. Contract of association of the company
  5. An Incorporation Certificate issued by the competent authority in the country in which the company is incorporated
  6. A resolution issued by the competent authority to the company for carrying out the activity in the Free Zone
  7. Appointment of a representative or manager by virtue of a duly attested Power of Attorney
  8. 2 page businesses plan if it’s a professional or e-commerce license. 1 paragraph description of the nature of the business if it’s a commercial trading or general trading company

The parent company must have been active for at least 1 year prior to opening a branch.
Note: Documents stated in nos. 4, 5 and 6 regarding the foreign companies shall be attested by the UAE Embassy in the concerned country and the Ministry of Foreign Affairs in the UAE.

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