SETUP YOUR BUSINESS IN AJMAN

AJMAN MAINLAND COMPANY FORMATION

Mainland companies are businesses that are directly registered with the government and authorities of the Emirates in areas where business is done. The mainland has a developed economy as it follows the legal structures of government policies. To start a business in Mainland Ajman, having a local sponsor is essential. The local sponsor will hold 51% of the company’s shares, while the remaining 49% reside 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 the same as other offshore judiciaries, as they are tax-free. The company maintains confidentiality by keeping the address registered with a designated agent. Offshore companies in Ajman engage in offshoring businesses in the UAE. This regulatory system involves activities like

  • Professional services
  • General trading
  • Professional services
  • Stake holding
  • Investment and joint investment companies
  • Consultancy and advisory services
  • Brokers and Commission Agents

Setting up a Business in Ajman – The Advantages

  • In Ajman Free Zone, businesses allow 100% foreign ownership and permit full repatriation of profits and capital.
  • The Ajman free zone offers more opportunities at a lower cost than most of the other free zones in the UAE because there is no 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 have been allowed legitimately for 40 years.
  • A company in Ajman is not required to pay any export or import duties by law.
  • A business in Ajman is not seen as an offshore company in a foreign tax haven.

The Company Registration Process in Ajman

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

  • Submitting a company application form at the customer service centre in the municipality for initial approval.
  • Following up with the Inspection Unit of the Ajman municipality in verifying the chosen business location
  • Obtaining approval for specialised departments from the municipality (if required)
  • Obtaining approval for a trade name along with the issuance of a business register and membership certificate
  • Submit all approvals and receipts from the Ministry of Trade as acceptances into the Register of Companies.
  • Submit the application with all fees paid to the Customer Service
  • 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 is required mandatorily.

  • A valid copy of the passport of the company shareholders
  • Proof of residence of the company owner
  • Memorandum of association
  • Articles of association
  • A 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