Ajman Free Zone (AFZ) was founded in 1988, as one of the three primary offshore jurisdictions in the UAE. AFZ has led to massive industrial developments in Ajman by attracting a significant number of businesses to benefit from the investment privileges, thus strengthening industry and trade, and the financial sector in the UAE. Ajman Free Zone provides competitive amenities and privileges allowing establishments to acquire a substantial return on their investment.
Benefits of Setting Up an Ajman Offshore Company
- 100% ownership of the company;
- Personal income tax exemption;
- Import and export duties are exempted;
- Low setup costs;
- Exemption from other taxes;
- Secure transfer of profits and capital;
- Well-rounded infrastructure;
- No auditing required;
- No foreign currency restrictions;
- Not required to rent an office space;
- Privacy of directors and shareholders is maintained.
Ajman Offshore Business Setup Limitations
- Cannot have an office in the UAE;
- Cannot carry business in the UAE;
- Owners cannot obtain resident visas based on the registered company;
- Cannot do banking or other insurance business without a special license;
- Cannot receive bank transfers from other firms in the UAE.
Ajman Offshore Company Formation Types
- Free Zone Establishment (FZE);
- Free Zone Company (FZC);
- Branch of a local company;
- Branch of a foreign company.
Ajman Offshore Business Activities
- Commission agents;
- Joint investments and investment corporations;
- Owning of properties;
- General trading companies;
- Holding firms;
- Advisory and consultancy services;
- International service sector;
- Professional services sector;
- Shipping companies
Ajman Offshore Company Registration Process
Registration authority: AJMAN FREE ZONE AUTHORITY
Required documents and incorporation steps:
- The client to provide:
– Company name (3 options);
– Corporate structure (shareholders, directors, manager);
- Required documents (individual shareholder):
– Passport Copy (valid for min 6 months);
– UAE Residence Visa and Emirates ID copies (if applicable);
– Proof of residence (water & electricity bill / telephone bill) – at least within 3 months;
– Bank reference letter from any bank in the world (good standing) for each shareholder;
– Personal details: telephone number, email address, residential address, country of residence, parent’s names, marital status, religion.
For the corporate shareholder a set of the company’s registration documents should be provided.
- The documents and information are submitted through an accredited agent.
- The following documents will be issued by the authority upon successful registration:
– Certificate of Incorporation;
– Memorandum of Association;
– Good Standing Certificate;
– Incumbency Letter;
– Share certificate.
If you have any questions related to the Ajman offshore company registration, do not hesitate to contact our specialists.