Ajman Offshore Company Formation
For an entrepreneur aspiring to establish a business in the UAE, it is crucial to familiarize oneself with the knowledge of their free zones. Moreover, these zones offer significant advantages for startups, making them highly beneficial for the initial stages of business setup.
The renowned UAE free zones actively engage in diverse industrial activities, all under the oversight of the Ajman Free Zone Authority (AFZ). Since its establishment in 1988, this entity has maintained autonomous status under the leadership of the Ajman ruler, H.H. Sheikh Humaid Bin Rashid Al Naumi.
Numerous businessmen actively engage at the Ajman Free Zone Authority, thus facilitating Ajman Free Zone company formation. This active involvement significantly contributes to the development of its infrastructure.
The Ajman free zone boasts a geographic location just 25 minutes from the International Airport. Additionally, business owners have the flexibility to choose from four types of ownership when establishing a company at Ajman Free Zone.
- The branch of a local company
- The Free Zone establishment license
- The branch of a foreign company
- The branch of a local company
The Offshore Company
Usually, an offshore company would be a reference to:
- A group, company, or division engaged in offshoring business processes
- Legal entities or international business companies are incorporated with jurisdiction laws that prohibit local economic activities. However, they may engage in various global operations or international trade.
Benefits on Forming an Offshore Company in Ajman Free Zone
- This usually has 100% foreign ownership.
- It includes 100% repatriation of profits and capital.
- Has a low cost of company setup.
- There are no requirements to rent an industrial place or office space.
- The offshore Ajman agent’s legal address is the address of the offshore company.
- There is no need for an annual audit.
- There is no need for paid-up share capital.
- The registration process proves quite easy, as one can receive the company set-up documents within a day.
- Businesses in Ajman offshore company formation have the permission to purchase and sell property. They are even allowed to take ownership of property in the UAE with the earlier approval of the land department.
- The Ajman Free Zone is globally recognised.
- The offshore companies of Ajman can open a bank account.
Documents needed to Set Up an Offshore Company at Ajman Free Zone
For proceeding with the Ajman offshore company setup, you usually require the following documents:
- The shareholders cleared passport copies.
- The shareholder’s original proof of residence
- The shareholder’s original bank reference letter
- An English CV of each shareholder.
- The application for setting up an Ajman offshore company and Memorandum of Association (MOA)
All these documents have to be submitted to the Ajman Free Zone Authority. This process may look simple and easy, but if there is a loophole in any of the mentioned documents, that has to be cleared in a day or two, and you are good to go.
Activities for Ajman Offshore Company Formation
1. The use of General Trading
The first activity to do is trading, when businesses are looking for trading activities only.
2. The Professional Services
The companies in Ajman offshore would go for the professional services.
3. Company Stakeholding
The Ajman Free Zone companies can hold stakes in other companies as well.
4. The Joint Investment Companies and Investments
5. Consultancy Services or Advisory
6. Brokers or Commission Agents
Benefits of Setting Up an Offshore Company in Ajman Free Zone
The Ajman Free Zone offers numerous benefits for their investors and entrepreneurs when they are looking to start an offshore company in Ajman:
Fastness of Release in Trade License
It is cost-effective to obtain a license in the Ajman Free Zone. The process may also be hassle-free.
The speed of trade licenses makes the Ajman free zone an ideal place for business formation. The one-day process of documentation guarantees how well the feed zone is managed.
Visa Options
The visas are available in different packages to set up business in Ajman. Three visas are allowed by the smart office package, while five visas are allowed by the executive office. Flex-desk packages can be used by business owners, as this gives the entrepreneurs the equipment, the use of office space, and other services like meeting rooms besides a permanent desk.
Low Barriers
Ajman offers a pro-business environment, enabling entrepreneurs to swiftly establish their businesses with minimal fuss. Moreover, there’s no mandatory need to provide paid-up share capital to initiate the setup of an Ajman Free Zone Company. Additionally, there’s no obligation for ongoing auditing or the necessity of bookkeeping requirements.
Shareholders
To set up a business in Ajman, minimally, one shareholder is required. However, the new free zone companies offer limited liability partnerships that allow up to five shareholders.
Starting an offshore corporation in Ajman involves various steps. Firstly, you have to decide on a business activity. Then you have to collect the documents to get approval. You have to open a bank account and apply for a visa.
You can opt to hire a consultant to handle your registration process. Additionally, we have a team of experts available to guide you through registration, company formation, and counseling. Feel free to contact us for friendly advice on any business-related queries.
