12 Nov Business Setup in Ajman Free Zone? Here’s What You Need to Know
Want to set up a company in one of the free zones of UAE? An entrepreneur must equip himself with the good knowledge of how to set up his/her own company. Although all these free zones offer matchless benefits, such as exemption of corporate and personal tax, 100% ownership, complete profit and capital repatriation and 100% exemption of export and import etc.; there are certain benefits and requirements of each free zone that made them distinct from each other. One of such free zone is Ajman Free Zone. Currently, AFZ has about 256 industrial firms registered that comprised of 20% of the total industrial firms in UAE.
Established in 1998, the Ajman Free Zone (AFZ) is the oldest free zone of UAE. It has played a vital role in industrial development of UAE by engaging foreign investors from all over the world by offering them matchless investment privileges. AFZ is the only free zone which offers the opportunity to exploit the benefits of Ajman Port which have emerged as a significant sea hub and serves over 1000 commercial vessels every year. Additionally, the major redevelopment of the Ajman International Airport has also boasted the role of Ajman in entire the Middle East as a trade and tourist hub. With Business Setup Consultants (BSC) you can also become a privileged investor or business owner in AFZ to reveal all the unique facilities and benefits offered by this remarkable free zone.
Key Steps to Set Up Your Business in Ajman Free Zone
Setting up a company in Ajman Free Zone is relatively easier and comprised of some simple steps. We have put together all the necessary information below to guide you through the process of your business startup.
- Firstly you need to get your hands on all the necessary approvals and legal document. For this, you are required to submit all the documents to the free zone authority. Once you get the initial approval, you can now apply for the registration and then process for the visa. Each of these steps is defined in detail below.
- To begin with, you need to decide on the legal entity that you want to establish. In AFZ you can set up two type of companies i.e. Free Zone Limited Liability Company (FZ LLC) and Free Zone Establishment (FZE). The difference between FZE & FZ LLC lies within the number of shareholders.
- You need to decide on a company name and nature of the business in order to get a license from AFZ; because licenses and office space are allotted with respect to the nature of business activities.
- Like other free zones which necessitate for a local sponsor, AFZ does not demand a local sponsor and you can enjoy the 100% ownership of your business exclusively.
How Could Business Setup Consultants Help?
Business Setup Consultants (BSC) is one of the leading consultancy company in UAE which can help you in license acquisition and set up your business in Ajman Free Zone. Our team of professionals is always on their toes to serve you with their expedient advice. Please take a minute to talk to us about the easy and convenient way for the business set up in UAE.