Ajman free zone was established in the year 1988 leading to massive industrial development by engaging great number of companies from the investment privileges. This free zone strengthened the industry, trade and financial sector in the UAE. The Free Zone is considered as an entrepreneur’s paradise because of the competitive benefits and incentives it offers. It is essentially a free economic area that provides credible and reliable process for any kind of small business setup in the Free Zone.
This will ensure that entrepreneurs will have the best possible start, while also guaranteeing continued support as their business develops. Business setup in Ajman Free Zone is easy and cost-effective as companies operating in this zone enjoy the same legal status as other UAE based companies, with the additional benefit of cheaper incorporation and operating costs.
Advantages of Business Setup in Ajman Free Zone
Following are the advantages of business setup in Ajman free zone.
- Minimal customs duty for import/export
Businesses operating in Ajman free zone are exempted from payment of duties on imports and exports to and from countries that are not the part of the Gulf Cooperation Council (GCC). However, if a business is exporting to or importing from a country it has to pay some customs duty.
- 100% foreign ownership for investors
As a free zone entity, isn’t required of a local partner to incorporate a company and own 51% shares, a foreign investor can fully own the business and retain all the profits.
- 100% repatriation of capital
This free zone allows foreign investors to transfer corporate money back to their home country from UAE.
- Business setup can be paid in installments
The most attractive offer from Ajman free zone is the so-called installment payment plan for the company registration. It means that you can get your company registered by paying only part of the government fees at a time. It is really convenient for those who are looking at setting a business but does not have a massive budget, Ajman Free Zone Authority is the only free zone which has such a payment plan.
- Low cost workforce
By operating in the Ajman free zone, business owners can hire skilled workers for a very low-cost processing of labor cards are affordable. Labor laws are very much favorable for both the recruiter and the workforce.
- Resident visa for investors and their families
Ajman free zone attracts entrepreneurs and investors to set up their business, in the free zone by allowing the issuance of residence visas to family members.
- Business setup is done in 24 hours
A Company can be formed in 1 day. Personal visit of the owners is required for company setup, but the, time required for exact application process is less compared to other free zones. Also, business owners are only required to provide some basic documentation such as passport copies and business paperwork. The whole process often takes is quick and easy for investors especially with the help of business setup consultants.
- Business setup cost is lesser when compared to other free zones
Business setup in Ajman free zone is also attractive for investors and entrepreneurs for the reason that company registration and trade license processing cost less especially compared to other free zones the cost of setting up business in Ajman is affordable.
- Business enjoy exemption from Corporate tax
The UAE government imposes corporate tax on oil companies and foreign banks only. Businesses registered in the Ajman free zone are exempted from corporate tax for certain time and this period can be extended.
Business Setup Specialists in AFZ
AFZ provide multiple investment opportunities and offer then the flexibility to select the business entity that fits their unique business needs and objectives of every business. Business setup consultants at FAR Consulting Middle East have the expertise and resources to help entrepreneurs realize their goals and address their needs. Call us today if you wish to start the process of business setup in Ajman free zone.