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Business Setup in Ajman Mainland

Black Swan   →  Business Setup in Ajman Mainland
Business Setup in Ajman Mainland

Business Setup in Ajman Mainland

AJMAN MAINLAND COMPANY FORMATION

SETUP YOUR BUSINESS IN AJMAN

Mainland Ajman

Mainland companies are entities directly registered under the Emirates government and its authorities in commercialized geographical areas. The mainland is a developed economy as it follows the legal structures of the Government policies. To start a business in Mainland Ajman, having a local sponsor is essential. The local sponsor will hold 51% of the company shares while the remaining 49% dwells with the business person. A mainland company in Ajman can opt for any one of the following entities:

  • Public Shareholding Company
  • Limited Liability Company
  • Representative Office
  • Branch Office
  • Professional Firm

Offshore Ajman

The Ajman Free Zone Authority regulates offshore Ajman. It is same as other offshore judiciaries as they are tax free. The confidentiality of the company is kept intact as the address is that of a registered agent. Offshore companies in Ajman engages in offshoring businesses in the UAE. This regulatory involves in activities like

  • Professional services
  • General trading
  • Professional services
  • Stake holding
  • Investment and joint investment companies
  • Consultancy/ Advisory services
  • Brokers/ Commission agents

Setting up a Business in Ajman – The Advantages

  • 100% foreign ownership and full repatriation of profits and capital is allowed in the Ajman free zone
  • Of all the other free zones in the UAE, Ajman free zone provides opportunities at a relatively lower cost as Ajman free zone authority does not levy registration fee.
  • The business registration is also straightforward - Single window clearances for multiple government services like licensing, postal, visa, immigration, etc.
  • Ajman allows foreign investors a 20-year land lease which is renewable for another 20 years. Thus tax-exempt operations are allowed legitimately for 40 years.
  • A company situated in Ajman enjoys 100% legal exemption from all export and import duties.
  • A business in Ajman is not seen as an offshore company in a foreign tax haven.

The Type of Business Licenses in Ajman

To practice a business activity in Ajman, you will need to have a business license as per the government guidelines. There are four types of business license in Ajman, and they are

National Industrial License

There are specific criteria to procure this license. They are

The business needs to be registered under the Gulf Cooperation Council, and they should own at least 51% of its shares.

40% of the manufacturing processes should be accomplished in the free zone.

Businesses with a National Industrial License are entitled to duty-free customs fees to Arab Gulf Cooperation Council member states.

Trading License

Business carrying out trading activities procure this license. Trade includes export, import, re-export of goods and services in the United Arab Emirates.

Industrial License

This license is granted to any UAE, foreign, or free zone entity that carries out manufacturing activities in Ajman.

Professional/Service License

This license is granted to any foreign, UAE, or free zone entity interested in providing service/professional activities.

E-Commerce License

This license is for e-commerce enterprises and helps facilitate online business entrepreneurs’ partnerships. The scope for E-commerce business in Ajman and the UAE is immense with more than 42% of the population opting to make transactions online. The Ajman free zone holds the highest number of applications for issuance of e-commerce license in the Emirate.

General Maintenance License

A general maintenance license is necessary to start a maintenance business in the Emirate. This license gives sanction for maintenance business individuals to make repairs and performs regular maintenance duties to keep buildings in good shape.

The Company Registration Process in Ajman

The following steps are undertaken to start a company in Ajman.

  • Submitting company application form at the Customer Services Centre in the municipality for initial approval
  • Following up with the Inspection Unit of Ajman municipality in verifying the chosen business location.
  • Obtaining approval for specialized departments from the municipality (if required)
  • Obtaining approval for trade name along with the issuance of business register and membership certificate.
  • Submit all approvals and receipts from the Ministry of Trade as acceptance into the Register of Companies
  • Submit the application with all fee paid to the Customer Services Centre to get the receipt. You can obtain the license for the company in a day.

Documents Required

The registration process is simple, and a particular set of documents are required mandatorily

  • A valid copy of the passport of the company shareholders
  • Proof of residence of the company owner
  • Memorandum of association
  • Article of association
  • Duly filled application for incorporation of an offshore account
  • Bank reference letter
  • Resume of the owner of the offshore account
  • Business plan with cost-benefit analysis

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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