Ajman Freezone | 7 Steps To Help You Register Your Company
Ajman freezone: Basics, decisions, individual & corporate owner requirements and cost elements
1. Ajman Freezone (AFZA): Basic requirements
- You must apply and receive an operating ‘trade’ license
- You need to have an office however small inside the free zone. You may rent it in an eligible building nominated by AFZA. Many options are available to you. E.g. desks space, small offices even warehouses.
- You need not appoint a director or a resident manager. As an owner you need not be a resident of the United Arab Emirates (UAE).
2. Ajman Freezone: Your decision points
- Your precise business activity to apply for the operating license
- How many residence visas you need
- The size of your office. This will also determine the number of visas you are eligible for. The smallest size office provides 2 visas. You must go for a bigger office if you need more than 2 visas.
3. Ajman Freezone: What you receive on formation of a company
- You get a trade license allowing you to do business in the chosen activity
- An office
- You can get visas to live in UAE
4. Ajman Freezone: Other registration requirements
- A single shareholder company has a suffix of FZE
- Multiple shareholder companies have a suffix of FZC
- Branches of foreign companies and mainland local companies and fully or partly owned subsidiaries are also allowed
- Share capital is a minimum of US $ 50,000. This need not be shown in your bank account at the time of registration.
5. Ajman Freezone Company: How to form for individual owners
- A passport copy of the owner is enough to start the process
- A business plan is required for a Service or Consulting license. This must include products, markets, finances and special services if any
- Industrial licenses need detailed process description and environmental and safety data
- You must confirm if the activity you want is permitted to be licensed or if any special approvals are needed
- You will need to fill an application form for approval of the name of your business
- A legal ‘Manager’ of your business will also need to be nominated
- After the name of your business is approved an initial approval is granted
- The owner and manager must visit AFZA to sign the legal documents along with their passports and passport sized photographs
- The payment of all costs must be made at the same time
- Company documents are made and handed over to you by the next day
6. Ajman Freezone Company: How to form for corporate owners
If the owner of the proposed Ajman Free Zone company is a foreign company then the following papers must be given:
- Certificate of Incorporation of the parent company
- Memorandum and Articles of Association
- A shareholders or a board resolution to establish the new company
- Power of Attorney to the person authorized by the parent company to undertake the AFZA company registration
- These documents must be attested by the UAE consulate in the home country of that company
7. Ajman Freezone: Company formation cost components
- License costs: Depends on license category. One time cost as well as annual renewal fees. Starting from US $ 1069+ Click here for more detailed pricing
- Office Lease Rent: As per the office size or warehouse size. Starting from US $4058+. Paid annually.
- One Time costs: Establishment card, registration and name reservation. Starting from US $ 918+
- Consultant Fees: If you choose to use one
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