Company Formation in Ajman Free Zone – SK Patodia

ADVANTAGES OF COMPANY FORMATION IN AJMAN FREE ZONE

Business setup in Ajman Free Zone is a lucrative option for entrepreneurs due to its strategic geographic location and the numerous incentives offered to businesses’. Ajman Free Zone is located on the west coast of the United Arab Emirates in Ajman, which provides easy accessibility to the eastern as well as the western markets. Established in 1996, the Ajman Free Zone Authority operates as the sole regulatory agency in this jurisdiction. They offer a comparatively cheaper cost to obtain licenses as well as rental spaces as compared to other Free Zones. Additionally, it is located close to Dubai and Sharjah, which makes it well connected to four seaports and two airports.

  • Exempt from import & export duties

  • The land contract is valid for a period of 20 years, which can be further renewed on completion

  • It offers excellent infrastructure and affordable renting space for offices as well as cheap labour and energy

  • Foreign investors can avail 100% ownership

  • No red tape

  • No corporate tax

  • It is one of the fastest growing Free Zones

  • Allows for 100% of repatriation of capital and profits

(Note: You can establish your presence in the UAE mainland, or in one of the many UAE free zones. Additionally, foreign investors may also enter into a joint venture with a local business or do business in the UAE Mainland via an authorized distributor/ agent.)

REQUIREMENT TO OPEN A COMPANY

BASIC REQUIREMENTS

  • FZE – 1 shareholder FZC – 2 to 10 shareholder.
  • There are no mandatory requirements for a paid up capital. However, the capital mentioned in the Articles of Association is AED 185,000.
  • Virtual office/ office space is Compulsory.
  • Minimum one and any person can become the director/ manager.
  • The Director/ Representative of the company need to visit Dubai for the bank account opening process and security approval.

DOCUMENTS REQUIRED

Individual Shareholder:

  • Application forms duly signed by the authorized signatory.
  • Passport Copy of the UBOs/ Shareholders/ Directors.
  • Copy of National Identity Card/Aadhar Card of the UBOs/ Shareholders/ Directors.
  • Most Recent Utility Bill/ credit card statement/ bank statement with name and residential address of the UBOs/ Shareholders/ Directors.
  • Curriculum Vitae (CV) /Profile of the UBOs/ Shareholders/ Directors.
  • One color photograph for each UBO/ Shareholder/ Director/ Partner/ Manager.

Corporate Shareholder:

  • Applications forms duly signed by the authorized signatory.
  • Certificate of Incorporation of the corporate shareholder (mother company).
  • Memorandum & Articles of Association of the mother company.
  • Board Resolution detailing the formation of the branch or the subsidiary nominating an authorized manager.
  • Passport Copy of the UBOs/ Shareholders/ Directors.
  • Copy of National Identity Card/Aadhar Card of the UBOs/ Shareholders/ Directors.
  • Most Recent Utility Bill/ credit card statement/ bank statement with name and residential address of the UBOs/ Shareholders/ Directors.
  • Curriculum Vitae (CV) /Profile of the UBOs/ Shareholders/ Directors.
  • One color photograph for each UBO/ Shareholder/ Director/ Partner/ Manager.

(Note: The documents can be attested by the UAE Embassy in the company’s country of origin followed by the Ministry of Foreign Affairs in the UAE)

OUR SERVICES

Incorporation Services:

  • Trade License.
  • Certificate of Incorporation.
  • Share Certificate.
  • Memorandum of Association.
  • Articles of Association.
  • Office Rental Agreement.
  • Assistance in the Corporate Bank Account Opening Process.

Other Maintenance & Compliance Services:

  • Renewal of the Business Trade License.

TIME PERIOD

There is no specific time period for company formation in Ajman Free Zone owing to the different kind of business entities whose time period varies. Immigration Services including Establishment Card and Visa related timelines may vary according to nationality and individual immigration file on record with authorities. Nonetheless, having received all the documents as requested in order, the incorporation documents can be obtained within 24 hour time (after security clearance).
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