Free zones in the UAE are a preferred choice for many international entrepreneurs and investors looking to set up their businesses in a favorable business environment. Among these zones, Ajman Free Zone stands out as a strategic destination that caters to the needs of various commercial and industrial sectors. Ajman Free Zone offers a range of benefits that make it an attractive business environment, including customs facilities, tax exemptions, and 100% foreign ownership. Setting up a company in this zone can be a crucial step towards success and expansion in the UAE and regional market.

In this article, we will cover the basic steps to establish a company in the Ajman Free Zone, and explain the benefits and advantages that this zone offers to investors. We will also learn about the procedures and requirements necessary to ensure the establishment of a successful company and its compliance with all legal regulations. We will also review some tips that can help you make the most of the business opportunities available in the Ajman Free Zone.

Steps to establish a company in the Ajman Free Zone

To establish a company in a free zone in Ajman, the following steps can be followed:

1. Choose the type of company: Select the type of company you want to establish, such as a private joint-stock company or a limited liability company.
2. Choosing a Free Zone: Research and choose a free zone in Ajman that suits your company’s activity and requirements.
3. Determine the capital: Determine the capital required to establish the company according to the requirements of the free zone.
4. Prepare documents: Prepare the documents required to establish the company, such as the registration application form and the necessary contracts.
5. Submitting the application: Submit the company establishment application to the responsible authority in the Ajman Free Zone and submit all the required documents.
6. Obtaining approval: After studying the application and documents, you will receive final approval to establish the company.
7. Obtaining the license: After approval, you will receive an operating license that allows you to start working.
8. Open a bank account: Open a company bank account to manage financial transactions.
9. Residence and Work Visas: Start arranging residence and work visas for foreign employees if necessary.
10. Compliance with laws and regulations: Ensure compliance with all local laws and regulations in the free zone.

Costs of establishing a company in Ajman

Establishing a company in the Ajman Free Zone requires considering a range of costs associated with each step of the process. Below is an overview of the basic costs associated with establishing a company in this free zone:

• Licensing Fees: This includes the cost of obtaining a commercial license that allows you to conduct business in the Ajman Free Zone. These fees vary depending on the type of license and the type of business activity.
• Registration costs: Includes the costs of registering the company and submitting the required documents to the administrative body in the free zone. This includes the application and document processing fees.
• Office Rent: Renting an office space within the Ajman Free Zone is required, which is one of the basic costs of setting up a company. The rent varies depending on the size of the office and the location within the free zone.
• Visa Fees: Includes the costs of issuing work and residence visas for investors and employees. These fees are required to submit visa applications and renew them when necessary.
• Opening a Bank Account: Includes costs associated with opening a business bank account in the company’s name. This may include basic banking fees and account opening procedures.
• Insurance: Includes costs associated with insuring the company and assets, such as property insurance and liability insurance.
• Trademark Registration Fees: If you plan to register a trademark for your company, there are fees involved in the registration process and its protection.
• Legal and consulting costs: You may need to hire legal or consulting services to help you prepare incorporation documents and ensure compliance with local regulations.
• Document preparation costs: These include the costs associated with preparing the documents required to establish the company, such as the articles of incorporation, business plan, and other required documents.
• Administrative Services Fees: Includes any additional fees related to administrative services provided by the free zone to support the establishment and operation of the company.

Documents required to establish a company in Ajman Free Zone

To establish a company in Ajman Free Zone, you will need to submit a set of basic documents. The required documents vary depending on the type of company and business activity, but in general, they include the following documents:

• Passports: Color copies of passports of founders, investors and directors.
• Personal Photos: Recent personal photos of founders and directors, often required for visa and licensing purposes.
• Articles of Association: A legal document that outlines the partners, ownership percentages, and roles and responsibilities in the company.
• Business Plan: A detailed document that outlines a company’s business activities, goals, and business strategies.
• Proof of residential address: A document proving the residential address of the founders and directors, such as a utility bill or lease.
• CVs: CVs of founders and managers that outline their professional backgrounds and experiences.
• Powers of Attorney: If a legal representative or advisor is handling the registration process, you may need to provide legal power of attorney.
• Proof of Capital: In some cases, it may be required to provide proof of the source of capital or the amount of deposit required to establish the company.
• Feasibility Study Report: In some cases, a feasibility study report may be required to show the economic viability of the project.
• Lease Contract: A lease contract for an office or commercial space in the Ajman Free Zone, detailing the lease and location.
• Trademark Registration: In some cases, the company’s trademark registration documents may be required.
• Insurance: Documents that prove that the company and assets have insurance, such as property and liability insurance.
• Additional Documents: There may be additional documents required depending on the type of business or the specific requirements of Ajman Free Zone.

Advantages of Ajman Free Zone

Ajman Free Zone offers a range of advantages and benefits that attract businessmen and companies, including:

1. Price Stability Policy: Providing a stable business environment in terms of prices and government fees.
2. Simplified establishment procedures: The procedures for establishing companies are simple and easy, making it easier for businessmen to establish and operate their companies.
3. Low or waived fees: Offering financial benefits such as low or waived fees for certain services and fees.
4. Advanced infrastructure: Providing advanced infrastructure including modern logistics and communications facilities.
5. Government Investments: Attracting government and private investments that support economic growth.
6. Market Access: Strategic location provides easy access to local and regional markets.
7. Visa Facilitation: Easy procedures and facilities regarding residence and work visas for foreign employees.
8. Freedom of Ownership: Provides great freedom of business ownership and no need for a local partner.
9. Multinational Work Environment: A diverse and multicultural work environment.
10. Center for Innovation and Development: Providing an environment that encourages innovation and technological development.

In conclusion, establishing a company in Ajman Free Zone is a strategic and effective move for investors seeking to benefit from the competitive business environment in the UAE. The zone offers multiple benefits including tax exemptions, customs facilities, and flexibility in ownership, making it an attractive option for expanding businesses or starting new projects.

Following the steps mentioned carefully, from choosing the right company type and business activity to completing the registration and licensing procedures, will ensure that you start your business efficiently and successfully. In addition, working with specialized consultants or incorporation service companies, such as Itqan Company, can facilitate the process for you and ensure that you comply with all local laws and regulations.

Adhering to the details of the establishment process and providing all the required documents helps avoid delays and increases your chances of success. Ajman Free Zone provides you with the opportunity to benefit from a supportive and open business environment, which supports the sustainable development and growth of your company.

The most important frequently asked questions about establishing a company in the Ajman Free Zone