If you are thinking of set up a business in the emirates, Ajman Free Zone is certainly the emirate to consider. The region is well known for its impressive modern highways that provide great connections with the rest of the UAE. Additionally, it offers entrepreneurs and investors attractive growth support and propositions that boost the expansion of their businesses.
With its educational capabilities and lower cost of living, Ajman is one of the best places to reside in the UAE. Provided you have a UAE residency visa, you can enjoy a tranquil living environment in Ajman Free Zone, where life is much more relaxed than in Dubai and other emirates.
Overview of Ajman Free Zone Authority
Being an attractive investment destination, Ajman has several free zones, including AFZA and Ajman Media City Free Zone. AFZA is located strategically at a sea entrance along the Arabian Gulf. On the other hand, Ajman Media City Free Zone is situated in the city and is purposely designed for media businesses.
Depending on the kind of business you want to start, you can set up or renew your company in any of these two free zones with FreeZone Market. The free zones welcome any businesses, from freelancers to light manufacturers and large trading companies. It is, perhaps, the best free zone for start-up businesses as it offers competitive fees and multiple installment payment plans for young investors.
The Ajman Free Zone is situated in the emirate of Ajman, which is only about a 40-minute drive away from Dubai. This ensures any free zone company with an office located in Ajman enjoys a range of opportunities and proximity to Dubai.
Contact FreeZoneMarket to get more info or start the business registration process and get a license in Ajman Free Zones.
Ajman Free Zone Authority: Business Facilities
The Ajman Free Zone Authority provides a wide range of facilities and solutions for companies. These include:
- Executive offices – Every business requires an office, where operations will be run. The Ajman Free Zone Authority provides executive offices developed and tailored to suit any business needs. These offices are spacious and roomy, making them easier to customize according to your business plan. They are also strategically situated to ensure flexibility, convenience, and smooth running of operations.
- Warehouses – If your business plan involves manufacturing, the Ajman Free Zone Authority has industrial warehouses with inbuilt offices and eligibility for getting up to 14 resident visas. A warehouse also comes with 24/7 security, all utilities, and parking facilities. For a minimal extra fee, you can enjoy additional services such as professional cleaning services, forklifts, and a workforce.
- Flexi-Desks – The workspace is one of the integral parts of a business. For that reason, investing in a productive and collaborative workspace contributes to the company’s success. The Ajman Free Zone Authority understands this – that’s why it has flexi desks on their list of facilities. Your employees can use these desks during work hours, and they are available without monthly time limits.
Apart from these three points, the Ajman Free Zone Authority has other facilities to offer, including; lands & plots, business centers, and freelancer hubs.
Ajman Free Zone Authority: Activities
There are three primary categories of activities for the Ajman Free Zone company formation. These are:
- and Industrial
Furthermore, in 2019, AFZA launched a freelance permit subcategory, which allows individuals to get a license along with a three-year visa at the most affordable price.
The AFZA license can have either one service activity or three trading activities. Also, an upgrade of activities is not possible even if you pay additional fees.
Ajman Free Zone company setup costs
The cost of setting up a company in Ajman is relatively lower compared to any other Emirate. The Emirate also offers several different packages designed for different individuals and businesses. For instance, the lowest business setup package is designed for investors between 20 and 30 years of age and starts from as low as AED 5,000/license.
The fee for the rest of the packages is determined by business activities and visa allocations. Here is a breakdown of business setup cost (in AED) in Ajman per license:
- Pioneer Package (20-30 years old business owners) – AED 5,000.
- Freelance Package – AED 6,000.
- Trading Package (eligible for 1 visa) – AED 13, 535.
- Service Package (eligible for 1 visa) – AED 16, 135.
For individuals planning to get resident visas under their business, there is extra immigration fees as follows:
- E-Channel deposit – AED 5,000
- E-Channel registration fee – AED 2,000
- Emirates ID, Visa, and medical evaluations – AED 2,800
As we mentioned earlier, AFZA free zone offers multiple installment payment options for new companies. The costs are payable in 2, 3, or 6 installments, depending on your needs. However, to get it you need to meet the requirements set by the Ajman Free Zone Authority.
The free zone requires you to pay for the installments using cheques from a local UAE bank. If you decide to pay in 6 installments, you can pay the first installment in cash and the rest by cheque. Most of the expatriates don’t have a local bank account and so no bank cheques are available. In that case, it is possible to use a friend’s or relative’s cheques book along with a NOC/“no-objection letter” that allows you to use their cheques.
Ajman Free Zone Company Setup, Renewal, Amendments and Liquidation
To incorporate a company in Ajman Free Zone is relatively simple and can take less than a day to be completed. However, it is not always a straightforward business for most individuals – so it is more than recommended to get help from a business setup consultant like FreeZoneMarket. As consultants, we are experts and can simplify the entire process for you.
Here are a few documents you need for your Ajman free zone company registration:
- Passport sized photo
- Copy of your passport
- Personal details, such as address, phone number, and email
- Company name
- Business activity and plan
Business registration is essential to ensure you operate legally and also get you the corporate documents that you need for the application of a corporate bank account in UAE. These include:
- Lease agreement
- Chamber of commerce registration certificate
- Memorandum (if your company has multiple partners)
Company renewal can be done remotely, meaning the presence of the company owner is not mandatory. The process would cost the same amount as the registration fee. Once the process is complete, you will receive a:
- New license
- Renewed lease agreement
- Renewed chamber of commerce certificate
If you are the owner, you can do company amendments or you have the possibility to delegate the process to a representative. The amendment fee ranges from AED 500 to AED 2,000.
Same as the company set up in Ajman Free Zone, company liquidation is relatively easy to complete and can be done by the owner or a representative that holds a power of attorney. The liquidation process can take up to one month, and success is marked by an official deregistration letter. Here is the requirements for company liquidation in Ajman Free Zone Authority:
- Proof of closure of your corporate bank account and maintenance department of your rented facility
- Cancellation of all resident visas linked with the company
- All original company documents
The residency visa process is the same as the other emirates; you are required to provide the following documents when applying for a resident visa in Ajman:
- Property/business ownership
- Immigration card
- Entry visa
- Emirates ID, visa stamping, and medical check-up
Ajman residency visa application costs AED 2,800, which includes everything: Emirates ID and medical check-up.
Ajman Free Zone license: Benefits
Setting up your business in Ajman Free Zone offers you a lot of benefits. Here are the top six on the list:
- Global reach due to strategic location
- Easy and quick company registration
- Multiple visa options
- Stimulus packages and support for startup
- Multiple business setup packages
- A diverse range of business activities