Company formation in Ajman Free Zone
You may be an ex-pat considering new markets to expand and grow. Or a newbie thinking of starting a business for the first time. Either way, Ajman Free Zone company setup will be an ideal option to set out for the journey in the world of business. Businesses are the basic component in fortifying the economy of a region. Understanding this fact, the visionary political leadership extends all the support to business entities by instituting lenient business regulations and procedures.
1. Finalize and Formulate Business Activities
You may identify your area of business and the intended activities to promote it. You can establish almost all of the legal businesses in the jurisdiction without any difficulty. Once you finalize and formulate the type of business activities, you will have a clear idea about it. We can advise you concerning the kind of businesses that can ensure a better ROI. Alternatively, guide the steps necessary for commencing the business activity planned.
2. Register the Trade Name
Although it’s a simple step, the trade name has to be according to the laid down policies. Then only the authority will approve the usage of the business name. The name you choose should not be already in use by any other organization in the domain, and should not imply religious or political orientation. If you are using your name for the business, only the expanded version of the name is allowed.
3. Apply for Business License
You are authorized to form only four types of entities in Ajman Free Zone (AFZ), viz. Free Zone Company (FZC), Free Zone Establishment (FZE), Branch of a Foreign Company and Branch of a UAE company.
The process of application may have minor variations depending on the type of company you plan to set up. Apply in the requisite format, along with all the documents, for a business license. The Free Zone authority will peruse the documents and issue licenses in due course. The documents and certificates are to be examined thoroughly, before submitting, to avoid any kind of discrepancies.
4. Open a Corporate Bank Account
There are a plethora of banks to choose from. You can opt for either domestic or international banks. Being an expert in the field, we can be of great help to you in providing you guidance regarding the pros and cons of each bank and aiding you in choosing the right one.
5. Obtain Visa
The number of visas authorized will depend on the size of your company. There are other criteria too. Once you have the business license, you can apply for visas and recruit employees accordingly.
Advantages of Company formation in Ajman Free Zone
Ajman Free Zone company setup is advantageous in many ways. It has been a proven way to riches for many of the entrepreneurs. The advantages of Starting a company in Ajman Free Zone include the following:
- Expats can have100% ownership
- No personal or corporate tax
- 100% repatriation of profit and capital
- Advanced infrastructure
- Commercial or industrial space can be leased for a period up to 20 years and can be extended for another 20 years
- Well-connected to other regions
- Quick setting up of a business is possible
- No export or import duties
- Competitive operating costs
- Offices with advanced amenities readily available at affordable rates
- Reasonable energy charges
Documents Required for Ajman Free Zone Company Formation
The documents required may defer according to the type of company you are establishing.
For a New Business Entity
- Business plan in case of commercial or industrial license
- Copies of passport of shareholders and proposed manager
- Passport size photograph (03)
- 3 proposed names for the company
Branch of a Foreign Company (in addition to the above documents)
- Memorandum of Association (MOA)
- Article of Association (AOA)
- Certificate of Incorporation
- Board Resolution
- Feasibility study report (on as required basis)
- Power of Attorney (if required)
Branch of a UAE-based Company (in addition to the documents required for a new company, the following documents are required)
- Certificate from Chamber of Commerce and Industry
- License in Original
- Company registration documents
- Prepared business plan in case of a commercial or industrial establishment
- Additional documents sought by the authority
Set Up Ajman Free Zone Company with Kiltons
Kiltons business setup services are one of the most renowned organisations in the UAE. We have been supporting ex-pats and residents in establishing companies in Ajman, Dubai, Abu Dhabi, Sharjah and other regions in the country. Established in 1999, we have more than two decades of experience in the field.
We will extend the best support for Ajman Free Zone company setup. Trustworthy and dedicated services have been pivotal in setting up and growing many successful firms around the UAE.
To discuss Ajman free zone company setup , contact us now.