Free zones provide a good opportunity for entrepreneurs to set up business in UAE. Good knowledge of the subject along with proper guidance may give a good chance to the entrepreneurs to come forward and show the world their potential.
A number of free zones can be found in the premises of UAE. All of them have different benefits and opportunities like tax exemption, ownership, profit repatriation, easy and quick process and so much more. All of these and some other benefits and opportunities make one free zone different from the other. Proper learning about these incentives may make the entrepreneurs take the right decision about their business.
Ajman Free Zone
One of the distinctive free zones in UAE is Ajman free zone (AFZ). A great number of business firms are registered in AFZ which play a very important role in the UAE’s economy.
AFZ being the oldest free zone was first established in 1998. It has a huge role in the industrial sector as it engages the foreign investors from the whole world for investing purposes. AFZ in return provide the foreign investors with huge incentives that makes them get attracted towards AFZ even more. An additional benefit of AFZ is that of the seaport where the businesses can get benefit through the commercial vessels to expand their businesses.
Investors are offered great incentives and comprehensive business solutions in AFZ. The aim is basically to make the relationship between the clients and the companies stronger than ever before. Ajman free zone, along with competitive business setup in Ajman packages, offers 100% ownership of the business. The infrastructure is modern, yet facility costs are attractively low too including low cost of utilities. No personal income tax and import and export duties with easy channels for trade. The region also provides economical labor availability to the businesses. All of these and other incentives have made the companies expand their services and improve them. Transparency is another key factor which is assuring the clients and investors to avail the broad range of advantages.
Business setup in Ajman free zone is really easy. There are just some simple steps needed to be carried out carefully and there you are ready to run your own company.
Here is much useful information for setting up a business in AFZ which will provide guidance for a proper Ajman business setup.
Get the Necessary Approvals
If someone wants to start a business in UAE, they should first get their hands on all the required approvals and legal documents. For this purpose, first of all, submit all the required documents to the authorities. In this case, to the free zone authority.
After getting the initial approvals, move on further towards the legal registration and visa processes.
Establish a Legal Entity
After taking the necessary approvals, move on towards choosing the legal entity of the business.
You can set up two types of companies in AFZ which includes Free Zone Limited Liability Company (FZ LLC) and Free Zone Establishment (FZE). The only difference lies in the number of shareholders in both the company types. An FZ LLC company will require at least 2 shareholders to set up with a maximum of 5 shareholders, whereas an FZE requires only 1 shareholder.
Decide the Company Name
The coherence in nature of the business and the name of the company matters to a great extent. This is because the office space and Ajman trade license are granted on the basis of nature of business activities. Try to give your company a unique name to stand out others. Your company name will help you to gather more clients towards your brand.
No Local Sponsor
A local sponsor is not needed in AFZ as a 100 per cent ownership can be enjoyed by the businesses. So, you won’t have to go and find a local sponsor to be part of your business.
Commercial Benefits in AFZ
Total Tax Exemption
Companies based in Ajman Free zone will have the leverage of complete tax exemptions on the custom duty of services and products.
Low Labour Cost
The labour cost is quite low in AFZ so, you wouldn’t have to worry if you have less capital or so.
Legal Framework Liberal
The economic policies and legal framework are quite liberal.
Get 100% ownership along with complete repatriation of profits and capital.
Read more detail: How to Start a Company in Ajman Free Zone
Authorities have made quite business-friendly laws for the companies for invoking more investment.
Business set up processes are not easiest but also cost effective. This creates awe in the entrepreneurs for starting a business.
Simple Immigration Processes
The immigration process for the workers is quick and simple.
Single Clearance Window
You do not have to rush here and there to different government offices for services like licensing, visa services, immigration etc. as AFZA provides a single clearance window to the investors.
Being one of the best international consulting companies, Far consulting Middle East is actually capable of helping you with your license and whole business setup in UAE. The professional service providers are well versed at serving their clients in the best possible ways.
Contact us for availing the best business setup services in UAE and start your dream job without wasting any time furthermore.