AJMAN FREE ZONE COMPANY FORMATION

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Ajman Free Zone Company (AFZ)

Free zone investors enjoy particular incentives and privileges to these areas such as:

No restrains over the capital nationality
Low start-up costs in comparison the mainland
Freedom to initiate any legal form for the activity
The investor has the freedom to determine prices of his services/products and the profit margin he desires
The investor enjoys exemption of Capital Assets, production supplies and imports and exports from customs, sales or any type of taxes or fees.

The Cost Of Ajman Free Zone Company Formation

Ajman FZC:

Legal fee from 2999 USD

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Free zones are geographically distinguished areas, different from just offshore. They possess particular laws and regulations that vary from those applied within the state that they are situated in.

The formation of the Free zone has resulted in quadruple growth in the number of companies during the last few years. Ajman free zone with its package of unbeatable advantages is widely recognised as the entrepreneurs’ haven today.

Ajman Company is an appropriate vehicle for sole proprietors, business partnerships and international business, investment and tax planning.

Ajman Free Zone Company (AFZ)

Main Characteristics and the basic rules of Company registration in Ajman FZ

Type of Companies

Type of Companies and Main Characteristics:

Freezone Establishment (FZE), owned as 100% by either individual or legal entity (company) having establishment capital of 50,000 U.S. dollar (approximately 185,000 AED).
Free Zone Company (FZC), free zone companies for a number of partners, whether individuals or companies of separate legal capacity, so as every investor share is to be determined through partners when issuing the license.
Branch

A branch is considered a legal entity of its parent company
An entity established outside of the Ajman Free Zone can establish a branch within Ajman.

Type of Licences in Ajman:

Type of licence depends on type of activity your business participates. Trade License Released within 1 day . Attested degree certificates are not required for Commercial/General Trading activities and also not required for some professional license activities. Ajman offers four types of licenses:

Trading License
E commerce License
Professional Services License
National Industrial License

Feature of Ajman FZ

Feature of Ajman Free Zone Company

Time to form: 1-2 days, subject to name approval
Personal Presence Required: Yes for bank account opening
Place of business: Allowed to do business internationally, in the UAE, and have an office in Dubai
Confidentiality: 100% confidentiality

Company Structure

Registered Office: Yes required, Ajman Free Zone, Dubai.
Directors: Director can be of any nationality and need not be resident in the UAE. Corporate directors are permitted.
Number of directors needed: The minimum number of directors is one.
Shareholders: FZE formation can be with a single shareholder. FZC can be formed with 2 to 5 shareholders
Share Capital requirement: USD 50,000
Foreigner ownership: 100% foreign ownership
Local sponsors requirement: Not required
Any restrictions on capital repatriation: 100% repatriation of capital and profits. No restriction on capital repatriation.
Name of a Company: The name of the company may end with the word “FZE” (Free Zone Entity) or “FZC” (Free Zone Company).
Company office in UAE: Allowed to have an office in the UAE

Restrictions & Exemptions

Restrictions & Exemptions in Ajman Free Zone

Ajman Free Zone Company shall not use restricted words in the name or trade:

Unless with the approval of the Registrar in writing the name shall not include the words “Bank”, “Trust Company” or “Trustee Company”, “Assurance” or “Insurance”, “Chamber of Commerce”, “Municipal” or “Municipality”, “Global”, “International”, “Middle East”, “UAE”, “Emirate” or “Emirates” or any other word which in the opinion of the Registrar may suggest:-

(a) a connection with the Government of the Federation of the United Arab Emirates, its agencies or identical bodies of any of the member States of the Federation;

(b) the patronage of their Highnesses the members of the Federal National Council.

Trading Restrictions of Ajman Free Zone Company: Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted

Confidentiality and Privacy

Confidentiality and Privacy

Publicly Accessible Records (relating to company officers): No names are disclosed
Disclosure of Beneficial Ownership to Authorities: No names are disclosed
Location of Meetings of Directors and Shareholders: Anywhere

Legislation and Government

Government: Ajman Free Zone Authority
Governing corporate legislation: Ajman Free Zone Offshore Companies Regulations of 2014
Language of Corporate Documents: English/Arabic

Records and Taxation

Books and Records requirements for Ajman Free Zone Company

Requirements to File Accounts: None
Audit Requirements: None
Requirement to File Annual Return: None

Taxation & Fees in Ajman Free Zone

Any corporate tax: 0% corporate and personal income tax rate guaranteed for 50 years
Any Personal Income tax: No personal income tax
Taxation: 0
Double Taxation Treaty Access: None
Are there imports or re-exports duties: Total exemption from all import and export duties.
Annual Renewal Fees: Has to be paid on the anniversary of the company and every twelve (12) months thereafter

Management and Support

Land and Facilities in Ajman

Facilities: Each facility is designed to meet the specific needs
Plots of Land: Ajman provides plots of various sizes for short and long-term lease. Executive Suites Office Packages:

Bank account for the Company

Business bank account: Bank account can be opened in any banks in the UAE

Get a Visa when you register Ajman Free Zone Company

Possibility to get resident or employment visas for investor: Possibility to get resident or employment visas for investor and employees.

Currency

Standard currency: Dirham (AED).
Exchange Control: No Taxation Treaties with other countries; No requirement for exchange of information with other Tax Authorities.
Any Currency restrictions: No currency restrictions.

How to Proceed

How to Proceed with company registration in Ajman Free Zone

Three simple steps to register your company in Ajman:

We will help you to select a company type, licence type, size of office (land).
We will complete all necessary documents and submit them the register.
You will receive your license and product(s).

Documents Required:

Individuals

Passport valid for 6 months
Passport size photograph
No objection certificate from current sponsor, if applicant is UAE resident as employee
Feasibility study in case of industrial, service and electronic activities
Fees of 100 AED for trade name approval
Business plan is required if the client would like an industrial or service licence