The United Arab Emirates offers a lot of benefits to foreign investors and entrepreneurs to help them settle their businesses in the country, and among those benefits, you will be able to find outstanding locations known as free zones, which were established for that purpose. Among the most remarkable free zones, you can find the Ajman Free Zone and many others.
In this article, you will learn everything you need to know about the Ajman Free Zone, including relevant information that will help you set up your company in this location. Benefits, advantages, regulations, and many other details will be explained here, and also the process you must complete to establish your business successfully. Let’s observe:
1. What is the Ajman Free Zone about? Basic information you must know about it.
2. Industries working in the Ajman Free Zone currently.
3. What benefits does the Ajman Free Zone offer to its investors and entrepreneurs?
4. What types of companies can be established in this free zone?
5. Types of licenses that are available in the Ajman Free Zone.
6. The steps you must follow to set up your business.
7. The documents you will need to complete the setup process and establish your company.
8. How can Connectfz help you set up your company in this free zone?
1. What is the Ajman Free Zone about? Basic information you must know about it.
Since 1988, the Ajman Free Zone has been growing as one of the most influential commercial leaders in the country due to the efforts made in several aspects, including infrastructural expansion and geographical reach. During the last decade, this free zone unlocked many achievements and obtained many awards and recognitions.
It is home to thousands of companies and is also a strategic location to start a business. Ajman Free Zone is committed to boosting the growth of its investors by offering dedicated and innovative ongoing support and services, which is one of the main reasons why you should consider setting up your company here. Keep reading to learn more about this free zone and the benefits you can obtain from it.
Here you can learn about our top 10 small business ideas that you can use to establish a successful company in Dubai.
2. Industries working in the Ajman Free Zone currently.
Among the many industries that you will be able to discover in this free zone, you will see the following ones in which you can start building your own business:
- Health and Beauty.
- Automotive.
- Food and Beverage.
- Education.
- Agriculture.
- Construction.
- Oil and Gas.
- Paper and packaging.
- Jewelry (gold and diamonds).
- Media and Communication.
- Marine.
- Textile.
- Advanced Technology.
- Chemical Industry.
- Sports.
- Trade industry.
3. What benefits does the Ajman Free Zone offer to its investors and entrepreneurs?
The best part of setting up your business in the Ajman Free Zone is the several benefits that you can get in this location, including the ones that are written and briefly described on the following list:
- This free zone allows foreign investors to own an office and do business in the United Arab Emirates.
- Easy setup process and fully digitized set up for business if necessary.
- 100% foreign ownership guaranteed.
- 100% repatriation of capital and profits.
- Foreign investors will realize that the Ajman Free Zone has the lowest tariffs in the region, cheap energy, and low labor cost.
- World-class infrastructure and high-quality services such as connectivity and transportation are guaranteed.
- The investor will be granted access to state-of-the-art facilities.
- There are no currency restrictions in this free zone.
- There is a 100% of legal exemption from all import and export duties.
- A 20-year land lease is guaranteed and it can be renewed for another 20 years if the investor needs it.
- Proximity is another great advantage since there is convenient accessibility to the adjacent Ajman port and Dubai and Sharjah airports.
- Customer care support and a 24-hour round range of business support services will be always available for investors.
- Another great benefit is that the resident or employment visas can be given to the investor and the company’s employees, which means that there are no visa restrictions in this location. If you need more information regarding the Ajman Free Zone visa, you can contact your business partner to clear your doubts.
Here you can learn more about UAE free zones and some reasons why you should establish your company in any of them.
4. What types of companies can be established in this free zone?
There are four main types of companies allowed in the free zone:
- Free Zone Company (FZC): it consists of corporate individuals forming a company who can receive a license under this category. The main business activities can be industrial, manufacturing, services, or commercial.
- Free Zone Establishment (FZE): this type of company can obtain licenses under this category and will have the status of a completely independent corporate entity.
- Branch of a local company: those free zone companies that hold a valid license from any other UAE licensing authority are eligible for a license under this category.
- Branch of a foreign company: in this case, the company will be 100% foreign, however, sales can be made through a UAE registered agent or distributor only. Business activity can be industrial, manufacturing, services, or commercial.
Here you can learn more about foreign company branches in the UAE and how to set up this type of company.
5. Types of licenses that are available in the Ajman Free Zone.
In this free zone, seven types of licenses are available for foreign investors, which are the commercial license, industrial license, service license, e-commerce license, offshore license, freelancer license, and pioneers license. You can apply for any of them depending on the type of business that you want to establish.
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6. The steps you must follow to set up your business.
Here is the setup process explained step by step. Follow this guide to complete your company set up successfully in this free zone:
- Step 1: define your business activities. You can choose between the many different business activities that are welcomed in the Ajman Free Zone, which can be marketing, trading, consultancy, hospitality, accounting, bookkeeping, IT, transport, and many others. It is important to remember that the business activities that you will choose must be added to your license application; otherwise, you might find significant complications in the future.
- Step 2: select a proper name for your company. The most important thing that you must take into consideration is avoiding offensive or blasphemous content when creating your company name, which includes avoiding references to Islam or Allah. In case you want to choose your own name for your business, use your full name instead of initials or surname. As a final tip regarding this step, check the Ajman Free Zone companies list to verify that your chosen name is available for you to use it.
- Step 3: apply for the business license that you need in order to operate your company. It is one of the most important steps that the investor must complete to do business in the free zone. The result of this process will depend on the type of business that the investor decided to establish, which can be any of the types of businesses that were previously mentioned. You will need to gather certain documents to obtain your license, which we will mention below.
- Step 4: apply for visas. You can apply for as many visas as you require, although it can mostly depend on several aspects such as the size of your business and your chosen license package. You can apply for visas for your dependents (spouse, children, domestic staff, and others) and if you need help to complete and submit your application, you can always ask for a company formation expert to take care of this affair along with the license application process if necessary.
- Step 5: the final step you must complete is opening a corporate bank account. You will be able to choose from many local and international banks and find the most suitable one for your business. In some cases, this process is not a straightforward one and hence it would be better to count on your business partner to obtain better results in less time.
If it is necessary, you can consult with an Ajman Free Zone cost calculator before completing the process.
Here you can learn more tips you should follow when setting up your own company in Dubai.
7. The documents you will need to complete the setup process and establish your company.
The documents that you will need may vary according to the type of company that you desire to establish in Ajman Free Zone.
7.1. Documents for a Free Zone Company (FZC) or a Free Zone Establishment (FZE).
- A passport copy for each partner (valid for at least 6 months).
- A colored photograph of each partner.
- No Objection letter from the sponsor if the applicant is a resident of the UAE.
- A visa copy or UID for each partner.
7.2. Documents for the Branch of a Local or Foreign Company.
- A passport copy of the company manager (valid for at least 6 months).
- A colored photograph of the company manager.
- A visa copy or UID of the company manager.
- A Trade License copy.
- An MOA copy.
- A Board Resolution copy.
7.3. Required documents to obtain your business license in the Ajman Free Zone.
Among the most important documents that you will have to gather and submit in order to obtain your business license in the Ajman Free Zone, here you will see the following ones:
- A passport copy with at least six months validity for each partner.
- A color photograph for each partner.
- The No Objection letter from the existing sponsor if the applicant is a resident of the United Arab Emirates.
- A business plan if applying for a Service or Industrial License.
In case the investor desires to establish a branch office in the free zone, the main required documents to obtain the business license will be the following ones:
- Certificate of incorporation.
- Board Resolution calling for opening the branch and appointing the manager.
- Power of Attorney to the Manager.
- Memorandum of Association.
- And finally, a Registration Certificate issued by the competent authority in the country in which the company is registered.
Here you can learn how to get your general trading license in Dubai to start operating your own business.
8. How can Connectfz help you set up your company in this free zone?
The most efficient way in which you can set up your company in the Ajman Free Zone or any other location in the United Arab Emirates is by requesting a professional helping hand from an experienced business setup agency like Connectfz. Our team will provide you with the information and services you need to finish your company setup process.
Receiving expert advice will be the key to make the right decisions when establishing your business in the country. Besides, you can receive our many services to help you process paperwork, licenses, and relevant documentation that you will need to work legally in the UAE. With our help, you can speed up any proceedings regarding the setup process.
Moreover, once you are settled, you will be able to request several different services when your company starts operating, including recruitment services (to help you find the best employees in no time), staff outsourcing (to help you find high-quality candidates for senior functions), and many other useful services to boost your business.
Would you like to contact Connectfz to know more about company setup in UAE free zones such as Ajman Free Zone? If you have any question, do not hesitate to call us on +97143316688 or email us at info@connectfz.ae, and you will talk to one of our representatives that will gladly answer all of your questions.