04 Apr Company Setup in Ajman Free Zone
Renowned as the “entrepreneur’s heaven”, Ajman Free Zone was recognized in the year 1988. The jurisdiction adores the status of a self-governing body under the Amiri decree No. 3 of 1996. Inaugurated with a purpose to fascinate external trade as a determined multi-million industrial expansion plan, Ajman Free Zone, at present-day is a home to a spread-out range of international ventures operating in an extensive variety of industries and meaningfully contributing to the economic growth of UAE. Just similar other free trade zones in UAE, Ajman too deals a host of rewards to businesses functioning in the Ajman Free Zone.
Though the free zone charges an inflated entry free to incorporators, at the similar time, delivers inclusive office spaces at the most planned once-a-month rental prices. The jurisdiction also deal e-commerce licenses to corporations at a price far less than that accessible by other free trade zones operating in UAE.
With a pocket occupied with unmatched profits, Ajman’s strategic position is its crowning feature. Huddled on the western coast of United Arab Emirate adjacent to the Arabic Gulf gateway with juxtaposition to Dubai and Sharjah, Ajman attends as a bridge between the western and the eastern world. The free trade zone delivers outstanding accessibility to the two international airports and four seaports. On a usual, the Ajman port caters to around thousand vessels on a yearly basis.
The free zone authority of Ajman is most recognized to deliver outstanding business operating benefits to international entrepreneurs and investors. Some of the most important advantages are as follows:
- No import and export responsibilities
- No service charges pertinent
- No concealed fees
- State-of-the-art infrastructure with low-slung maintenance cost
- Availability of inexpensive energy and labour
- 20 years land contract which can be rehabilitated for another 20 years
- Lowest local tariffs
- Rapid licensing process
International ventures can also gain the following profits:
- 100 per cent overseas ownership with no participation of a local partner
- 100 per cent deportation of capital and profits
- No individual income tax or corporate tax needs to be paid
- Little labour cost, and no red-tapism.
Looking into what category of legal objects can be well-known in Ajman’s free trade zone, then the subsequent can be incorporated:
- Free Zone Establishment (FZEs)
- Free Zone Companies (FZCs)
- Branch of Local Companies (BLCs), and
- Branch of Foreign Companies (BFCs)
Ajman Free Zone is administered by its own set of instructions and principles that essential to be followed by each scheme operating or planning to found a base in the jurisdiction. Additionally, the incorporation procedure involves numerous lawful formalities and it is best to pursue the facilities of a professional business adviser as they are well-versed with the formation process and can aid you to launch a company in Ajman Free Zone in the shortest conceivable time.