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Establishing a company in Ajman Free Zone

٠٢ يونيو Establishing a company in Ajman Free Zone

Ajman Free Zone is one of the most prominent investment destinations in the UAE, providing an ideal business environment that encourages the establishment of companies and the expansion of commercial activities. Ajman seeks to promote economic growth by offering competitive advantages, such as tax exemptions and the freedom to transfer profits, making it an attractive option for many businessmen and investors. Establishing a company in Ajman Free Zone is simple and fast, as local authorities provide flexible and smooth procedures, in addition to a variety of commercial licensing options. In this article, we will review the most important steps and requirements for establishing a company in Ajman Free Zone , in addition to the benefits that investors can achieve from this step.

Establishing

Steps to establish a company in Ajman Free Zone

Establishing a company in the Ajman Free Zone requires following several basic steps. Here are the necessary steps:

  1. Determine the business activity: The investor must determine the type of business activity he wishes to engage in, as the activity varies from general trade to various services.
  2. Choosing a company name: Choosing a distinctive name for the company that matches the specific activities, while ensuring that the name is not used by other companies.
  3. Submitting the application: Submit an application to obtain a commercial license to the Ajman Free Zone Authority, along with all required documents.
  4. Preparing the required documents: The required documents include: A copy of the investors’ passport. A copy of the Emirates ID card. And the business plan (if any).
    Paying the fees: Paying the fees required to establish the company, which include the license fees and administrative fees.
  5. Receiving the commercial license: After reviewing the application and documents, the commercial license is issued, allowing the investor to officially start the business.
  6. Open a bank account: Open a bank account in the company’s name in a local bank to facilitate financial transactions.
  7. Employee Registration: If there are employees, they must be registered according to local laws and obtain the necessary work permits.
  8. Office and Facilities Securing: Equipping the office with the necessary equipment and adhering to the standards required by the free zone.

By following these steps, investors can easily and conveniently establish their companies in the Ajman Free Zone, which contributes to achieving their business goals.

Documents for establishing a company in the Ajman Free Zone

To establish a company in Ajman Free Zone, a set of basic documents must be submitted. Here is a list of the required documents:

  1. Copy of Passport: Valid passport for all partners and investors.
  2. Copy of Emirates ID: A copy of the Emirates ID must be submitted for each investor or partner.
  3. Company Establishment Application: Establishment application form which can be obtained from Ajman Free Zone Authority.
  4. Business Plan: A document that outlines the project idea, goals, and services or products offered (may be required for some activities).
  5. Office Lease Contract: A lease contract for the company’s headquarters within the free zone, which can be obtained directly from the Authority.
  6. Partner Signature: Samples of partners signing the required documents.
  7. Additional Documents: Additional documents may be required depending on the type of business, such as special licenses or professional certifications.
  8. Establishment fees: Advance payment of the required fees, which include license and registration fees.

Be sure to check with Ajman Free Zone Authority for any additional documents or updates to requirements.

Advantages of establishing a company in the Ajman Free Zone

Establishing a company in the Ajman Free Zone offers many advantages that make it an attractive option for investors. Here are the most prominent of these advantages:

  • Foreigners can own 100% of the shares without the need for a local partner, giving them complete control over their business.
  • The free zone offers a corporate tax exemption for up to 50 years, as well as no personal profits tax.
  • The free zone features simplified company registration procedures, making it easier to obtain a commercial license.
  • Ajman Free Zone has a modern infrastructure, including offices, warehouses, and manufacturing facilities, which facilitates business operations.
  • The free zone is strategically located to provide access to the markets of the Middle East, Asia and Africa, facilitating export and import operations.
  • The free zone offers facilities for opening commercial bank accounts, which facilitates financial transactions.
  • Integrated logistics services are available, which contribute to facilitating transportation and shipping operations.
  • Companies in the free zone receive support from the government, which facilitates guidance and advice on administrative matters.
  • These features combined are a major reason for attracting investors to Ajman Free Zone, enhancing the business environment and accelerating the growth of companies.

Ajman Free Zone

Ajman Free Zones is one of the most prominent free zones in the UAE, providing an ideal environment for businesses. Established with the aim of attracting foreign investment and boosting the local economy, the zone has proven successful in achieving this goal by offering a range of unique benefits. Ajman Free Zone is 100% foreign ownership, allowing foreigners to establish their companies without the need for a local partner. The zone also offers tax exemptions on companies and personal profits, making it an attractive destination for investors. The procedures for establishing companies in the free zone are easy and quick, which enhances the chances of success and growth.

The region encompasses a variety of economic sectors, including trade, manufacturing, and logistics, providing a wide range of opportunities for investors. The region also has a well-developed infrastructure, including offices, warehouses, and industrial facilities, facilitating business operations. Moreover, Ajman Free Zone enjoys a strategic location near ports and airports, facilitating the movement of goods and products. Thanks to these features, Ajman Free Zone has become an important business hub in the UAE, enhancing growth and expansion opportunities for both local and international investors.

Cost Factors of Establishing a Company in Ajman Free Zone 

The cost of establishing a company in the Ajman Free Zone is affected by several factors. Here are the most important of these factors:

1. Company type: Costs vary depending on the type of company (limited liability company, branch, representative office), as each type has different registration fees.
2. Business activity: Licensing fees depend on the type of activity, as some activities require higher costs due to certain regulatory requirements.
3. Registration fees: These include company registration fees, which vary depending on the type of license and the activities practiced.
4. Office rent: The cost of renting an office or office space, which varies depending on the location and space required.
5. Government fees: These include fees for obtaining and renewing a license, and the costs of necessary permits.
6. Administrative costs: These include the costs of a certified accountant, consultants, and any legal services you may need.
7. Insurance: Some activities require insurance, which adds to the total cost.
8. Operating costs: These include monthly operating costs such as salaries, utility bills, and office supplies.
9. Marketing and promotion: The costs of advertising and promotional campaigns to attract customers.

Etqan Company Services for Establishing a Company in the Free Zone

Itqan Company provides a comprehensive range of services to facilitate the process of establishing companies in the Ajman Free Zone. Here are the most prominent of these services:

  1. Business Consulting and Planning: Itqan helps investors develop a comprehensive business plan, and advises on the best business activities to establish.
  2. Registration Procedures: The Company undertakes all company registration procedures, including preparing the necessary documents and submitting applications to the relevant authorities.
  3. Choosing a trade name: Itqan helps in choosing a suitable trade name and submitting it for approval with government agencies.
  4. Securing a trade license: The company obtains the required trade license, and ensures compliance with all local laws.
  5. Office Rental: Itqan offers a variety of furnished office options in the free zone, making it easy to start business operations quickly.
  6. Opening bank accounts: Helps in opening business bank accounts, facilitating financial transactions.
  7. Marketing and Support: Provides marketing strategies to support business growth, as well as administrative support services.
  8. Legal Guidance: Itqan provides legal advisory services to ensure compliance with all regulations and laws.

In conclusion, setting up a company in Ajman Free Zone is an ideal option for investors looking to benefit from a flexible and encouraging business environment. The free zone offers many benefits, such as 100% foreign ownership, tax exemptions, and smooth registration procedures, which help speed up the process of starting a business. The advanced infrastructure and strategic location also provide access to diverse markets, which enhances the opportunities for growth and expansion. Making the decision to set up a company in this zone requires comprehensive study and careful planning, but with the right support from professional consulting firms, investors can achieve their business goals efficiently. Ajman Free Zone remains an attractive destination for local and international investors, contributing to the local economy and enhancing the UAE’s position as a global economic hub.

Frequently asked questions about establishing a company in the Ajman Free Zone

Does the company need a bank account?

Yes, it is preferable to open a business bank account to facilitate financial transactions.

What activities are allowed in the free zone?

Activities include commercial, industrial, and service activities, but you must ensure that the activity complies with local laws.

Can the commercial license be renewed?

Yes, the commercial license can be renewed annually, provided that the prescribed fees are paid.

Does the free zone provide logistics services?

Yes, the free zone provides integrated logistics services to support business operations.