everything you need to know about business setup in ajman free zone

Everything You Need to Know About Business Setup in Ajman Free Zone

Ajman free zone is an established economic zone that allows business to perform several business activities. Ajman Free Zone is a vital location, which gives it the advantage of serving investors across UAE. All the rules and regulations in free Zone are set by under the management of the Ajman free zone authority.

For business setup in Ajman Free Trade Zone in UAE, get in touch with any business setup consultants. They can provide support in setting up a business in UAE and help find the most suitable facilities for business needs

Read more: Ajman Free Zone (AFZ) Now Issues a New Type of License – Pioneer License

Advantages of Setting up Business in Ajman Free Zone:

The strategic and cost-effective location of this free zone attracts many international investors. Ajman free zone companies enjoys the following for operating in the free zone:

Commercial business setup benefits:

  • Minimal customs duty for goods and services(import/export)
  • 100% foreign ownership
  • 100% repatriation of capital
  • Liberal economic policies
  • Low labor cost
  • Resident visa for investors and their families
  • Company set up in 24 hours
  • First free zone to offer installments for payment of business setup
  • Business friendly laws for companies
  • Cost efficient business setup
  • Simplified immigration process for workers
  • World class infrastructure
  • Energy supply is abundant and cheap
  • Prebuilt offices, smart offices, warehouses to facilitate companies

Tax benefits for business setup

  • Corporate tax exemption
  • No personal income taxes

Phases of Business Setup in Ajman Free Zone

Ajman free zone is a sought-after destination for business setup; however, there is a process to be followed to complete the registration. Here are the steps involved:

Stage 1: Determine the type of legal entity to register

Rules and regulations are different for different ownership types and business establishments. Selecting a legal entity to run a business under is very important. Business owners are given a couple of ownership options to choose from when they are about to conduct Ajman Free Zone business set up. Those options are mentioned below:

  • Free Zone Establishment
  • Free Zone Company
  • Branch of local company or foreign company

Stage 2 Decide on a trade name

While deciding upon the type of legal entity the business should take, you should also choose a trade name.

It is important to check with the respective free zone authority about the permitted trade names and whether your chosen name has already been registered or not. The key policies to know when naming business are:

  • Must not violate the public morals or the public policy of the country
  • Must be followed by the legal form of the company
  • The name has not been registered previously.
  • It is compatible with the type of activity and legal status of the business.

Stage 3: Apply for a business license

The type of license to acquire will depend on the business activity to be carried out by the investor.  The  Ajman Free zone authority has listed as that are allowed in its jurisdiction.

Types of licenses offered in Ajman free zone and their costs

Type of license Cost involved
Freelance license 1,645 USD
Pioneer license (20-30 years old investors) 1,370 USD
Commercial license Starting package 3,160 USD
General trading License  4,600 USD
Professional license  3,900 USD
Industrial license 2,500 USD

Stage 4: secure a business facility

Office requirements depend on the number of employees and type of business activity a company wants to undertake.

Stage 5: submit documents for approvals and visa processing

To set up a business it is necessary to get the approvals, of relevant authorities by submitting the required documents. The list of documents needed varies on the type of business activity and the type of company to be registered.

An initial approval certificate will be issued upon approval of company registration. The certificate allows the business owners to perform the approved business activity in Ajman free zone. For Initial Approval, the investor is required to provide some documents such as:

  • Completed application form
  • Business plan
  • Copy of passport with six-month validity
  • Entry stamp or visa copy
  • One Color Photograph

After the initial approval, business owners can register the business name and pay the required fees for registration.

If all the documents are submitted and verified, the regulatory bodies will then issue the license and start the visa processing.

Read more: Top 5 Things You Need to Now About Ajman Free Zone

Business Setup Consultants in UAE

Ajman free zone is one of the most cost effective and developed free zones in UAE. If you want to set a business in UAE, Far Consulting Middle East is the one stop solution and service provider for entrepreneurs. Our team will take care of all business set up requirements and other legal formalities. Contact us to avail our business setup services.

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