AJMAN MAINLAND COMPANY FORMATION
Mainland companies are businesses that are directly registered with the government and authorities of the Emirates in areas where business is done. The mainland has a developed economy as it follows the legal structures of government policies. To start a business in Mainland Ajman, having a local sponsor is essential. The local sponsor will hold 51% of the company’s shares, while the remaining 49% reside with the business person. A mainland company in Ajman can opt for any one of the following entities:
- Public Shareholding Company
- Limited Liability Company
- Representative Office
- Branch Office
- Professional Firm
Offshore Ajman
The Ajman Free Zone Authority regulates offshore Ajman. It is the same as other offshore judiciaries, as they are tax-free. The company maintains confidentiality by keeping the address registered with a designated agent. Offshore companies in Ajman engage in offshoring businesses in the UAE. This regulatory system involves activities like
- Professional services
- General trading
- Professional services
- Stake holding
- Investment and joint investment companies
- Consultancy and advisory services
- Brokers and Commission Agents
Setting up a Business in Ajman – The Advantages
- In Ajman Free Zone, businesses allow 100% foreign ownership and permit full repatriation of profits and capital.
- The Ajman free zone offers more opportunities at a lower cost than most of the other free zones in the UAE because there is no registration fee.
- The business registration is also straightforward: single-window clearances for multiple government services like licensing, postal, visa, immigration, etc.
- Ajman allows foreign investors a 20-year land lease, which is renewable for another 20 years. Thus, tax-exempt operations have been allowed legitimately for 40 years.
- A company in Ajman is not required to pay any export or import duties by law.
- A business in Ajman is not seen as an offshore company in a foreign tax haven.
The Company Registration Process in Ajman
The following steps are undertaken to start a company in Ajman.
- Submitting a company application form at the customer service centre in the municipality for initial approval.
- Following up with the Inspection Unit of the Ajman municipality in verifying the chosen business location
- Obtaining approval for specialised departments from the municipality (if required)
- Obtaining approval for a trade name along with the issuance of a business register and membership certificate
- Submit all approvals and receipts from the Ministry of Trade as acceptances into the Register of Companies.
- Submit the application with all fees paid to the Customer Service
- Centre to get the receipt. You can obtain the license for the company in a day.
Documents Required
The registration process is simple, and a particular set of documents is required mandatorily.
- A valid copy of the passport of the company shareholders
- Proof of residence of the company owner
- Memorandum of association
- Articles of association
- A duly filled application for incorporation of an offshore account
- Bank reference letter
- Resume of the owner of the offshore account
- Business plan with cost-benefit analysis
