Business Setup 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.

Embarking on the journey of setting up a business in Ajman necessitates not only meticulous planning but also a series of decisive actions. At the very outset, the process commences with the pivotal task of identifying the specific nature of your intended business activity. Following this, the process includes selecting an appropriate company name, acquiring the necessary licenses, specifying the essential infrastructure, staffing the company with the right human resources, and, last but not least, ensuring the mandatory minimum capital deposit into a corporate bank account.

It’s crucial to engage a business setup consultant to meticulously address the legal intricacies of your business establishment. Ajman, in this context, hosts a diverse spectrum of management consultancies that present enticing opportunities to investors seeking comprehensive support in navigating the complexities of all business setup formalities.

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 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.

Secure business setup procedures are in place at Ajman free zone companies, facilitated by the issuance of business licenses for established companies managed by the Ajman Free Zone Authority. To establish a company in the Ajman free zone, it’s imperative to possess the necessary authority.

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

Recently, the Ajman Media City Free Zone was established, featuring state-of-the-art digital facilities and offering comprehensive media solutions in the UAE. This development aligns seamlessly with the professional aspirations of both businesses and individual entrepreneurs.

Ajman City integrates a dynamic free zone, highlighted by its cutting-edge telecom infrastructure, exceptional digital customer service, strong communication links, and a range of enticing incentives. These factors collectively attract entrepreneurs who are enthusiastic about launching their businesses within the 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 mainland boasts the most developed economy in Ajman, supported by well-defined legal structures aligned with government policies. However, it’s essential to note that launching a business in the mainland of Ajman necessitates the engagement of a local sponsor.

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 Ajman Free Zone Authority can regulate the offshore operations in Ajman. This is akin to other offshore jurisdictions that maintain the confidentiality of company information, as the registered agent incurs no taxes. 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 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

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