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Business Setup in Ajman

Business Setup in Ajman

BUSINESS SETUP IN AJMAN

SETUP YOUR BUSINESS IN AJMAN

Ajman is one of the seven emirates of UAE, that has been located at the Arabian Gulf coast. It has an estimated area of 260 kilometres square. Ajman has the prime industries of real estate, manufacturing, transport, retail, construction and business services.

Ajman needs the business set up with detailed planning and decision making. You have to determine the type of business activity, choose a company name, hold the necessary licenses, select particular infrastructure, hire human resources and deposit a minimum capital of a corporate bank account.

You need to have a business setup consultant to look into the legalities of the business setup. Ajman has various management consultancies that provide opportunities to investors to help in all business set up formalities.

The Company Formation in Ajman

The company formation rules and guidance of Ajman helps to set up your business here. The needed licenses such as Service or Industrial License, General trading or Professional license and Commercial or trading license are a must. You have to opt for an offshore company, free zone or a mainland in Ajman.

The Ajman Free Zone

The launch of Ajman free zone took place in the year of 1988 at the Arabian Gulf Coast. This has access to two International airports and four seaports that led to the flourish of companies in the region.

There occurs secure business setup procedures at Ajman free zone companies with the issuance of business licenses for established companies that are managed by the Ajman Free Zone Authority. You must have authority to open a company in the Ajman free zone.

Benefits of business set up in Ajman Free zone are:

  • Has no red tape
  • Capitals and profits of 100% repatriation
  • Full exemption of corporate tax for companies
  • Companies have business-friendly laws
  • Quick and simplified immigration policies for workers

The newly formed free zone is the Ajman Media City Free Zone that has digital facilities and comprehensive media in UAE. This matches the professional mindset of businesses and individual entrepreneurs.

The city of Ajman includes the free zone with high-tech telecom, top-notch digital customer service, communication links and incentives for interested entrepreneurs to start a business at Ajman Media City free zone.

The commercialized geographical areas of all business entities are directly registered under the government of Emirates and the authorities of mainland companies.

The most developed economy of the mainland has legal structures of the Government policies. You require a local sponsor for starting a business in the mainland of Ajman.

The 51% share of the company goes to the local sponsor and the remaining 49% will be owned by the business person. The mainland company of Ajman should have the following business entities like:

  • The limited company
  • It's branch office
  • The public company
  • Liability and shareholding
  • The professional firm
  • It's representative office

The offshore of Ajman can be regulated by the Ajman Free Zone Authority. This seems similar to other offshore jurisdictions that keeps a company’s confidentiality, as there are no taxes involved for the registered agent. The Ajman offshore company engages in the UAE offshoring business.

The jurisdiction involves certain activities like:

  • Some General trading
  • The Professional services
  • Stake holding of the company
  • The joint investment companies
  • Consultancy services or advisory
  • Brokers or Commission agents

The Advantages to Set up a Business in Ajman

  • The 100% foreign ownership along with profits and full repatriation of capital is allowed in Ajman free zone.
  • The Ajman free zone exhibits all the opportunities as an exclusive economic area that supposed to provide, at a lower cost than other free zones of the UAE. This is due to the no registration fee at the Ajman Free Zone Authority.
  • The Ajman has the business registration process, where a single-window clearances for multiple government services happen such as visa, postal services, licensing and immigration.
  • The foreign investors get a 20-year land lease in Ajman that is renewable for another 20 years, allowing legitimate tax-exempt operations for the upcoming 40 years.
  • Ajman company enjoys a 100% legal exemption from all export and import duties. UAE has a respected international trading jurisdiction of an Ajman offshore business.

Steps for Ajman Company Registration

The following steps are followed to start a company at Ajman:

  • The company application form has to be submitted at the Customer Services Centre of the municipality for initial approval.
  • You have to keep a follow up with the Inspection Unit in the municipality of Ajman, thereby verifying the chosen business location.
  • Get the approval of specialized departments of the municipality, if needed.
  • Have to get approval for the trade name and issue the business register along with the membership certificate.
  • Get the necessary approvals with receipts from the Ministry of Trade as an acceptance into the Register of Companies.
  • Pay the fees along with application submission to the Customer Services Centre for obtaining the receipt. It usually takes one day to get the license for your company

Required Documents

A particular set of documents are mandatorily needed for the registration process.

  • The valid passport copy of the company shareholders
  • The company owners proof of residence
  • The Memorandum of association
  • The Article of association
  • Filled application with incorporation of an offshore account
  • The Bank reference letter
  • English resume of the owner with the offshore account
  • The analytic cost of the Business plan

Why Black Swan ?

Black Swan Will Help You In Not Only Every Step Of Your Business Setup But Also In Continuing Business:

  • Taking the trade name approval.
  • Initial or security approval.
  • Preparing Memorandums.
  • Bank Account assistance.
  • Court Notarisation of memorandums, POA and other documents.
  • License issuance
  • Establishment Card.
  • Visa's
  • Any external approvals if required.
  • Final Submission.

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