With the UAE being one of the world-famous business hobs in the world and the main business destination of many foreign investors, there is a significant number of foreign investors who would like to start their business in this thriving business environment every year. The UAE has earned its good reputation by adopting innovative business policies and favorable taxation policies for big corporations and small businesses. On top of these, being located in the middle east has made it the perfect place for traveling from to all corners of the world frequently and conducting trades at an international level. Multiple free zones offering tax exemptions, 100% of capital and profits repatriation, and various business policies tailored to entrepreneurs’ needs is another huge advantage of running a business in the UAE. Ajman Free Zone (AFZ) is one such free zone that offers progressive infrastructure and top-of-the-line facilities to both local and international entrepreneurs. The major benefits of this free zone are:

  • Incredible connectivity
  • Easy access to seaports, airports, and major high ways 
  • 100% of foreign business ownership
  • Free share capital
  • No physical presence requirement in the UAE 
  • Easy company registration policies
  • No NOC requirement from current visa sponsor
  • Low start-up and operational costs
  • No physical space rental requirement
  • No visa restriction
  • No annual audit requirement
  • No currency restriction
  • Access to state-of-the-art facilities

Process of company setup in Ajman Free Zone

Setting up a company in Ajman Free Zone is rather easy and straightforward, and mainly one should follow the following five steps:

  1. Determining the business activities: AFZ is open to most of the business activities allowed in the UAE, such as accounting and bookkeeping, consultancy, hospitality, IT, marketing, trading, and transport. All the business activities going to be operated under the company’s license should be listed carefully in the license application. If one fails in this step, many complications can follow in the registration process.
  2. Registering the company name: there are several regulations and restrictions for registering a company’s name in the UAE in general, which may not be known to expatriates. Some of these restrictions are: i) avoid using the name of Allah or Islam, or any other religions in the name of the company, ii) if one intends to use their own name in the company’s name, it should be in full form and not initials, for example, iii) check for availability, etc.
  3. Submitting the license application: depending on the type of business one intends to operate in AFZ, the license they should apply for may vary. There are several licenses to select from: a branch of a local or foreign company, a Free Zone Company (FZE), or a Free Zone Entity (FZE). The documents one generally will be asked to provide are:
      • A valid passport (for at least six months) for all the business partners   
      • A color photograph of each business partner
      • If a resident of the UAE, a letter of ‘no objection’ from the current sponsor is required
      • A business plan in case of applying for an Industrial or Service license

For opening a branch, further documents are requested:

      • Memorandum and Articles of Association
      • Board Resolution
      • Certificate of Incorporation
      • Power of Attorney
      • A Registration Certificate issued by the authorities in the original country in which the company headquarters are registered.

If free of errors, the license can be issued instantly and within one business day. 

  • Applying for visas: After obtaining the business license, foreign entrepreneurs can apply for visas and their employees and dependents. The number of visas the main applicant is eligible to apply for depends on the size of the business they run. 
  • Opening a corporate bank account: there are many local and international banks to select from. It is best to choose the most suitable bank offering relevant services for one’s business. Usually, every bank has different application and acceptance criteria. 

Smart Zone – Business Setup Experts

For a smooth Ajman Free Zone company registration, contact one of Smart Zone‘s Business Setup Advisors through +97155 233 00 77 or email us at info@smartzon.wwwsg1-ts102.a2hosted.com today.