Learn about establishing a company in the Ajman Free Zone because the Ajman Free Zone has many competitive advantages that make it an ideal destination for business, including advanced infrastructure, simple and efficient administrative procedures, and flexible legislation that encourages investment and facilitates establishment procedures. In addition, the Ajman Free Zone provides attractive financial and tax facilities that encourage economic growth and enhance the attractiveness of the economic sector.

In this article, we will explore the process. Establishing a company in the free zone In Ajman, from the initial planning steps to completing the incorporation procedures and starting work. We will take a look at the investment opportunities available in the region, and explain the main benefits that Ajman Free Zone offers to investors and companies.

Steps to establish a company in Ajman Free Zone

Establishing a company in the free zone In Ajman, it is necessary to follow a series of official and legal steps to ensure that all requirements and conditions required by the local and administrative authorities are met. Here are the general steps to establish a company in the Ajman Free Zone:

Specify the type of activity

Determining the type of business activity is an essential step in the process of establishing a company in the Ajman Free Zone, as it helps to identify the parties involved in this activity and determine the appropriate legal and legislative requirements. The determination is to determine the nature of the business that the company will carry out, whether it is manufacturing, commercial, service, or other activities.

Choosing a business name

Choosing a trade name requires special attention to ensure that it is in line with the controls imposed by economic development departments and maintains public taste, in addition to expressing the nature of the commercial activity in an appropriate and attractive manner.

Initial approval

Obtaining initial approval from the General Directorate of Residency and Foreigners Affairs is an essential step in the process of establishing a company in the Ajman Free Zone. This approval aims to verify the suitability of the proposed investors and partners and ensure that they meet the legal requirements and conditions stipulated by the local authorities.

Choosing a location for the company

Choosing a suitable location for your company’s headquarters is a vital strategic decision in the process of establishing a company in Ajman Free Zone. The location must be compatible with the licenses, legal conditions and applicable legislation, to ensure business continuity and avoid potential problems in the future.

Approval of the relevant authorities

Some commercial projects require additional approvals from other competent authorities such as the Ministry of Interior, the Ministry of Civil Defense, the Ministry of Justice, and the Ministry of Economy if the activity is related to an activity such as selling fire-fighting equipment.

Get License

After completing all the previous steps, the investor can receive the license and attach some documents and papers with it, in addition to the economic development steps to pay the license fees and then register in the Chamber of Commerce of the Emirates as a member.

Conditions for establishing a company in the free zone

Establishing a company in the free zone In Ajman, it is subject to several conditions related to local laws and regulations of the authority sponsoring the free zone, and they include the following basic conditions:

1. 1. Type of Company: The appropriate type of company should be determined according to the business goals and needs, such as a limited liability company, partnership, sole proprietorship, etc.

1. 1. Minimum capital: There may be minimum capital requirements to incorporate the company, which can vary depending on the type of company.

1. 1. Headquarter Location: The location of the company’s headquarters must be determined and ensured to be in compliance with local laws and regulations of the free zone.

1. 1. Licenses and Permits: There may be specific licenses and permits related to the proposed business activity that must be obtained before starting work.

1. 1. Legal Documents: A set of required legal documents and papers must be submitted, such as the company document, the agreement document, and the financial records of the partners.

1. 1. Tax Compliance: The Company must comply with all local tax regulations and legislation and register with the relevant tax authorities.

1. 1. Compliance with Free Zone Regulations: The company must comply with all regulations and laws of the free zone sponsoring authority.

Types of companies in the free zone

Documents for establishing a company in the free zone

Establishing a company in the free zone In Ajman, it is required to submit a set of documents and papers necessary to complete the legal and administrative procedures. Among these documents are:

• • Application form: The official application form required by the sponsoring authority of the Ajman Free Zone must be completed and submitted.

• • Social agreement or contract document: A document containing details about the partners, types of partnership, its percentage, and the rights and duties of each partner must be submitted.

• • Investment Document: If the company deals with financial contributions, a detailed document must be submitted showing the amounts invested by each partner.

• • Copy of passport for partners: Certified copies of passports for all resident partners must be provided.

• • Organizational structure documents: Documents must be provided showing the company’s organizational structure including the names and positions of directors and shareholders.

• • Financial documents: Financial documentation may be required to demonstrate the company’s ability to conduct business operations.

• • Business Activity Permit: An official permit must be obtained to allow the specific business activity to be carried out.

• • Proof of address documents: Documents proving the address of the company’s official headquarters in the free zone must be submitted.

These are just some of the basic documents that may be required to set up a company in Ajman Free Zone, and requirements can vary depending on the type of company and local laws. It is essential to check the exact requirements of the free zone’s governing body before starting the incorporation process.

Do I need to have a local partner to set up the company?

In the past, there were requirements for a local partnership in Company formation in the UAE United Arab Emirates, including in the free zones. But at present, many free zones in Dubai and in the UAE in general, provide options for establishing companies with fully established capital, without the need for a local partner.

However, there are some exceptions and rules to consider, as the situation varies depending on the type of company and its activity, and in some cases there may be requirements for a local partnership. It is essential to check the current regulations and legislation in the specific emirate and free zone in which you intend to establish the company.

In general, if the company is a corporation or a limited liability company with fully incorporated capital, it can be established without the need for a local partner. However, there may be exceptions to this in certain specific sectors.

TCost of establishing a company in Ajman Free Zone

Establishing a company in the free zone Ajman includes many costs related to procedures, documents and costs of obtaining a business license, and all costs come based on the laws and regulations stipulated.

1. 1. Establishment fees: The fees for registering and establishing the company in the commercial register of the free zone are included, and these fees are determined based on the type of company and the size of the capital.

1. 1. Additional service fees: There may be additional fees for consulting or legal services you may need to set up the company.

1. 1. Office costs: Costs may include renting the office or commercial space that will be the company’s headquarters.

1. 1. Required capital: The cost of depositing the capital required to establish the company, which can vary depending on the type of company and local regulations.

1. 1. Tax and license costs: There may be costs involved in registering for taxes and obtaining the necessary licenses to operate a business.

1. 1. Accommodation and visa costs: You may need to provide accommodation and visa costs for partners and employees, if they are non-citizens.

Please note that these expenses depend largely on each company’s individual circumstances and specific requirements. It is advisable to check with the Itqan team of experts in the field to obtain an accurate cost estimate before starting the incorporation process.

Establishing a company in the free zone

Establishing a company in the free zone In Ajman, it is a strategic and important step for those wishing to benefit from the dynamic economic environment and business facilities available in the United Arab Emirates. The freedom zones in Ajman offer great opportunities for entrepreneurs and businessmen seeking to develop their businesses and achieve success and prosperity.

By taking advantage of tax exemptions, customs facilities, and advanced infrastructure, your company in Ajman Free Zone can grow and flourish better and faster. In addition, flexible laws and a stable economic environment allow you to easily explore and expand your business within and outside the emirate.

With the UAE’s pioneering vision to support entrepreneurship and foster an innovative and dynamic business environment, setting up a company in Ajman Free Zone is a fruitful and favorable option. Your investment in this opportunity will undoubtedly contribute to achieving your business goals and future success.

Frequently asked questions about establishing a company in the free zone