Due to its brand-new international airport opening in 2019 as well as numerous commercial ventures, including a 25-million-dollar marina project, Ajman Free Zone has become a hot destination for entrepreneurs looking to launch their own businesses.
Entrepreneurs across the globe can take advantage of the worldwide marketing offices of the free zone. The company has representatives in Lahore and Karachi (Pakistan), Johannesburg (South Africa), Dar es Salaam (Tanzania), Mumbai and Delhi (India), Moscow (Russia), and Manchester (United Kingdom). The Ajman Media City Free Zone and the Ajman Free Zone will help you open your trade license.
What makes Ajman a good place to do business?
Ajman is an ideal location for international entrepreneurs for a variety of reasons. Because of its strategic location, the emirate has great access to the surrounding emirates and to the region beyond – both Ajman and Khorfakkan ports, as well as Dubai International and Sharjah International airports, are nearby. Moreover, Ajman offers an affordable labor market, a friendly business climate, as well as low startup costs.
Affordable and flexible Ajman Free Zone License
Small businesses looking to get started on a budget appreciate Ajman Free Zone as one of the UAE’s most affordable free zones. During the first stages of launching a business, not every company has vast amounts of money at its disposal. A business can be launched for a lot less money in the UAE than in other countries. Starting at AED 11,00 ($3,000), business license packages go up to AED 32,00 ($8700) with five visas. “Smart Office” packages allow three visas, while “Executive Office” packages allow up to five.
Entrepreneurs find the Ajman Free Zone to be both fast and efficient, making it one of the most attractive locations. In this way, it is possible to obtain a business license in just a few days. With the right consultant, it’s sometimes possible to secure a license within 48 hours if you work with one that’s reputable.
How to Set Up a Company in Ajman
For your company registration in a Free Zone, here is the list of items you need to get started.
- You will also need to have three potential business names and your license type (Commercial, General Trading, Service, E-Commerce, Industrial).
- A copy of each shareholder’s passport
- Copy of manager’s passport
- Some activities may require the approval of a third party
- In some free zones, shareholders are required to send their CVs.
- Plan of action
- Branches of the building (Smart Office, Land, Business Center, Executive Offices, Warehouses, Retail facilities)
Step-by-step instructions for setting up an Ajman company
Company formation experts can help you establish a company in Ajman Free Zone in just five simple steps.
1. List the activities of your business
In order to start a business in the UAE, you must decide what type of business to open. In addition to accounting and bookkeeping, consultancy, hospitality, information technology, marketing, and trading,
AFZ welcomes the vast majority of activities in the UAE. It is necessary that you list all intended activities in your license application, even though the type of business you may conduct in an AFZ varies quite widely. Further complications can occur if this step is not taken.
2. Name your company
A company name must choose next. We think about this a bit more carefully than most other places in the world since we follow a set of naming conventions here in Ajman that outsiders will not be familiar with.
It is important to keep in mind that the name of your business cannot include any offensive or blasphemous language, nor may it make any reference to Allah or Islam. Your company name cannot simply be your surname or initials if you wish to include your own name in full.
Last but not least, make sure that you can register the name you choose. An expert in company formation can provide suggestions and help you check whether the name you selected is free.
3. Make your license application
The next step is to submit your application for an Ajman Free Zone business license. If you would like to form a specific type of organization, the steps will differ. Among the three types of free zones available are free zone companies (FZEs), free zone entities (FZEs), and free zones for projects.
It is usually necessary to provide the following information:
- Each partner must submit copies of their passports valid for six months
- An individual color photograph for each partner
- UAE residents who wish to be sponsored must provide a letter of consent
- Business plans are required for applications for industrial licenses and service licenses
You will also need to provide the following information if you wish to open a branch:
- Documents of Association
- Resolution adopted by the Board
- Constitution of the corporation
- The power of attorney
- An official document from the country in which the company is incorporated.
Your business license can be issued within one business day if your application is complete and error-free. An expert in company formation needs throughout the entire incorporation process to make sure this is the case.
4. Visa applications
Obtaining a driver’s license is the first step to obtaining a visa. You can apply for your license along with this step with the help of an expert in company formation. Employers, spouses, children, and domestic workers can submit visa applications on your behalf. You can apply for a variety of visas depending on the license package you choose and the size of your business. Dependents can apply for a visa easily provided they meet the requirements.
5. Opening a corporate bank account
Your corporate bank account is the final step in starting a business in the Ajman Free Zone. International entrepreneurs sometimes have difficulty navigating this process. Various local and international banks offer different terms and conditions, and it can be difficult to navigate their websites.
During this process, it is advisable to seek the assistance of an expert. We can also assist you in arranging meetings with financial institutions in addition to advising about the most suitable bank for your business.