What do you gain from Ajman Free Zone company formation in UAE?
Ajman company registration has recently become an alternative to the business setup in Dubai. Ajman is a promising region that is growing rapidly. Many foreign investors are starting a business in Dubai, while others have recently noticed a growing potential from its neighbouring emirate of Ajman. Now more people want to know not only how to register a company in Dubai, but how to register one in Ajman.
While setting up a business in Ajman, you have 3 options for the formation: mainland, free zone and offshore.
What is Ajman Mainland?
You can start your activity on the mainland if you are planning to have business with direct consumers, such as shop, beauty salon, nursery, etc. For that, you need a local sponsor. You can set up LLC, public shareholding company, professional firm, branch office or representative office. You need approvals from certain municipal bodies for some activities. Based on them, Ajman Department of Economic Development issues a mainland license.
What is Ajman free zone (AFZ)?
If you are sure you will be operating within the free zone or outside the UAE, or probably importing/exporting goods to UAE, a free zone company formation is a good option for you. AFZA accommodates a vast scope of businesses, representing many sectors, enabling them to flourish and grow.
Ajman Free Zone is a perfect place for industrial activities as well as international trade. This way of company incorporation is mostly chosen by small and medium entrepreneurs because Ajman Free Zone provides them with the best conditions. The most common industries here are Textile, Food, Beverage, Tobacco, Wood, Paper, Mechanical, and Chemical.
Ajman free zone company formation cost depends on such factors as license, office rent, documents, application for a residence visa, etc. The zone has an optimal strategic position since it is located near Dubai and Sharjah, which provides quick access to the infrastructure of the near emirates.
What are the benefits of the Ajman free zone?
- Strategic position and modern infrastructure. Ajman has a central location and is very close to Dubai and Sharjah.
- The ability to do business in the UAE. The company is entitled to open an account in the UAE bank which will help the foreign investor obtain resident and working permits.
- The ability to open an office in the UAE. There are low land prices and affordable office rents in the emirate.
- Favorable business environment. Ajman free zone offers ease on financial reporting requirements. Foreign investors get such benefits as complete foreign ownership and repatriation of capital and profit. A foreign entrepreneur does not need to pay the income tax, tax on profit or travel tax and is free from import and export duties.
Why register the company in the Ajman free zone?
To set up a company within the Ajman free zone, you need to get a license. Once you have obtained all the necessary permits, you are entitled to start your business activity and enjoy the benefits of the Ajman Free Zone.
AFZA has undoubtedly established itself as a crucial player on the international business platform. It is one of the most digital zones since it has a simplified digital gateway for all the services within the zone and provides value-added packages for all types of businesses. AFZA also offers flexible co-working spaces to entrepreneurs who require freedom to progress their businesses in a cost-efficient way, without the restrictions of long-term overheads.
It is worth mentioning the Ajman free zone is one of the few that offers the possibility of registering an Offshore company.
What is Ajman Offshore?
Ajman Offshore is another way of doing business in the UAE if you are planning to have a business in another country outside the UAE, but would like to use some offshore benefits. An entrepreneur can apply to set up an offshore company in Ajman through registered agents that cover the legal part of the venture.
It is important to know that doing business with the offshore company in Ajman carries some restrictions.
Ajman Offshore Company is not entitled to:
- Be involved in business activity with people inside the UAE
- Own real estate situated in the UAE
- Engage in the banking business, except cases when it is allowed and approved by the competent authorities
- Conduct business as an insurance company or any other business that may be prohibited by the rules of the Ajman free zone
More companies are searching for bigger opportunities and looking in the direction of Ajman for a reason. With its favorable business climate and attractive solutions for companies, it is becoming a gold mine for the investors. Many entrepreneurs have already established their companies here and are enjoying sustained growth.