Ajman free zone has a long history, but today it has undergone some renovation in terms of the offers to its international investors. AFZA offers not only companies with flexi-desks or executive offices, but also brand new warehouses right next to Ajman port.
Ajman free zone stands out of all the other free zones because it is the ONLY free zone in UAE who officially offers multiple installments payment plan for company setup and maintenance.
For example, you want to open a General Trading company. The normal cost of such company with flexi-desk is 27 150 AED, which has to be paid upfront. But if you do not want to spend this much money in one shot, you have the option to cut this amount into 2, 3 or even 12 annual installments. After depositing the first installment, you will get your license and will be able to open a bank account and start operations! Here you can see a breakdown of installments for various license types.
Ajman free zone requires depositing post-dated cheques for your chosen plan on the day of company formation. It is inconvenient for foreign investors who want to take multiple payment options but do not have a checkbook. What to do?
There is only one way allowed by Ajman free zone – you can use cheques of your friend/relative/partner who is residing in UAE. This person needs to provide NOC to the free zone and come together with you for company registration.
After your company license is issued and a bank account opened, you can substitute your friend’s cheques on your own company’s cheques. However, AFZA has an additional charge of 250 AED per cheque in this case.
You may see that multiple installments plan might not be suitable for everyone due to obligatory submission of all cheques on day 1, but it is definitely a very convenient and low-cost way to start a business for those who have cheque book in their pocket!