Ajman offshore business setup
Foreign investors can own 100% of their businesses without the need for a local sponsor
In this article, I will share my experience and provide a step-by-step guide on how to set up a company in Ajman Free Zone.
As an entrepreneur, I was looking to set up a business in the UAE, and after careful research, I decided to choose yourtaxadvice.com as a primary option.
Why I Chose Ajman Free Zone
There were several reasons why I chose Ajman Free Zone as my business destination in the UAE. Firstly, foreign investors can own 100% of their businesses without the need for a local sponsor. This gave me complete control over my company, which was essential for me. Secondly, Ajman Free Zone offers a range of benefits to businesses, such as exemption from corporate and personal income taxes, import and export duties, and value-added tax (VAT). Thirdly, the free zone provides world-class infrastructure and facilities at competitive rates, making it an ideal location for businesses. Lastly, Ajman Free Zone is strategically located near major seaports and the Dubai International Airport, making it an ideal location for import-export businesses.
Step-by-Step Guide to Setting Up a Company in Ajman Free Zone
Step 1: Decide on Your Business Activity
The first step to setting up a company in Ajman Free Zone is to decide on your business activity. Ajman Free Zone allows a wide range of business activities, from trading and manufacturing to services and consultancy. It's essential to choose a business activity that aligns with your expertise and the market demand.
Step 2: Choose Your Company Structure
The second step is to choose your company structure. Ajman Free Zone offers three types of company structures: Free Zone Establishment (FZE), Free Zone Company (FZC), and Branch of a Foreign Company. Each structure has its own advantages and requirements, so it's essential to choose the one that best suits your business needs.
Step 3: Choose a Unique Trade Name
The third step is to choose a unique trade name for your company and apply for it with the Ajman Free Zone Authority. The name should align with your business activity and be memorable for your customers.
Step 4: Apply for a Business License
The fourth step is to apply for a business license with the Ajman Free Zone Authority, specifying the business activity you are allowed to conduct and the type of company structure you have chosen. The free zone offers several types of licenses, including Trading License, E-commerce License, Industrial License, and Service License.
Step 5: Apply for Visas and Permits
The fifth step is to apply for visas and permits for your employees and dependents through the Ajman Free Zone Authority. The number of visas and permits depends on your company structure and the size of your office space.
Step 6: Rent Office Space
The sixth step is to rent office space in Ajman Free Zone to establish your business. The free zone offers a range of options, from virtual offices to warehouses and showrooms, to meet the needs of different businesses.
Step 7: Open a Bank Account
The final step is to open a bank account for your company in the UAE to conduct financial transactions. Ajman Free Zone has partnerships with several local and international banks to facilitate the process.
Conclusion
Overall, my experience of setting up a company in Ajman Free Zone was a smooth and efficient process. The free zone's favorable business environment and world-class infrastructure, coupled with its strategic location, make it an ideal location for businesses looking to establish a presence in the UAE. By following the steps outlined in this article, entrepreneurs can easily set up their companies in Ajman Free Zone and take advantage of the many benefits it offers.