Advantages and steps of establishing a company in Ajman Free Zone

02 Jun Advantages and steps of establishing a company in Ajman Free Zone

Some investors want to know about establishing a company in the Ajman Free Zone – advantages and steps. Therefore, you can rely on Itqan Company, which is fully aware of the extent of customers’ need to know all the details about this matter, and because it knows the extent of the free zone’s superiority in establishing companies because it is one of the most important free zones in the UAE. United Arab Emirates, as it offers many advantages and incentives to companies wishing to establish and operate in this region. As an important regional center for trade and business, Ajman Free Zone attracts a lot of interest from entrepreneurs and investors from all over the world.

In this article, we will explore the most important advantages offered by the free zone, in addition to the practical steps for establishing a company in the free zone . This article will provide valuable guidance to individuals and companies interested in taking advantage of the opportunities provided by the Ajman Free Zone.

Advantages and steps of establishing a company in Ajman Free Zone

Advantages of establishing a company in Ajman Free Zone

Establishing a company in the Ajman Free Zone allows you to benefit from several advantages that make it an ideal choice for businessmen and investors. The most prominent of these advantages are:

Tax exemption

1. Companies established in the Ajman Free Zone are exempt from paying income tax and customs duties.
2. This tax exemption creates an attractive business environment and enhances profitability for companies.

Full ownership of the company:

1. Foreign companies are allowed to fully own their businesses in the free zone without the need for an Emirati partner.
2. This gives companies more control over their operations and strategic decisions.

Advanced infrastructure:

1. Ajman Free Zone provides modern, world-class infrastructure, including offices and logistics facilities.
   This facilitates companies’ operations and enhances their operational efficiency.
2. Establishing companies in the Ajman Free Zone is simple and quick compared to other regions.
   Obtaining commercial and administrative licenses is also smooth and easy.

Strategic location

Ajman Free Zone is strategically located, providing easy access to regional and global markets.
This distinguished location enhances the companies’ ability to expand and grow.
Ajman Free Zone provides a range of support services to businesses, such as recruitment assistance and logistics.
These services help companies focus on their growth and business development.

Steps to establish a company in Ajman Free Zone

Establishing a company in a free zone in Ajman requires following specific steps to ensure compliance with local laws and regulations. One of the first steps in this process is to determine the type of activity. By specifying the type of activity, the parties associated with this activity are identified, in addition to the following points:

1. Choosing a trade name: The economic development departments stipulate certain controls for the name. It must not contravene public taste and must be compatible with the nature of the activity.
2. Initial approval: Approval must be obtained from the General Directorate of Residency and Foreigners Affairs, then approval from the rest of the relevant authorities in Dubai.
3. Choosing a location for the company: It is necessary to choose a fixed headquarters for the company and that it be compatible with the necessary licenses and conditions.
4. Approval of relevant authorities: Some commercial projects need 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.
5. Obtaining the 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 costs of the license fees, then register in the UAE Chamber of Commerce as a member.

Documents for establishing a company in Ajman Free Zone

A set of essential documents are required to ensure compliance with local laws and regulations. Here are the steps and documents required to establish a company in the Ajman Free Zone:

1. Choosing the company name and providing institutional documents: Choosing a distinctive name for the company and ensuring that it is not repeated, in addition to preparing the company’s articles of association and articles of association.
2. Obtaining initial approval: Submit a request to obtain initial approval from the Ajman Free Zone Administration, and copies of institutional documents and shareholder information are also submitted.
3. Completing the commercial license application: Fill out the free zone commercial license application form, and submit copies of passports and shareholders’ identity documents.
4. Obtaining a commercial license: After obtaining initial approval, a commercial license will be issued to the company. Insurance procedures must be completed and a bank account must be opened for the company.
5. Completing the registration procedures: register the company in the commercial registry of the free zone, and obtain the tax registration number (TRN) from the Department of Finance in Ajman.
6. Renting an office or facility for the company: Choosing a suitable location for the company’s office or any other facilities, and concluding a lease contract with the service provider in the free zone.
   Once these steps are completed, the company will be ready to begin its operations in the Ajman Free Zone. Care must be taken to comply with all laws and regulations applicable in the free zone.

The cost of establishing a company in Ajman Free Zone

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

• Application is made by personally attending the Ajman Free Zone website or through the Ajman Free Zone website.
• Payment in cash or by credit card.

To know the costs necessary to establish a company in the Ajman Free Zone, you can contact us and our experts will provide you with all the information, and we have experts to clear all the procedures, documents and papers necessary to establish a company in the Ajman Free Zone.

It is known that the cost of establishing a company in a free zone in Ajman is affected by several factors, including the type of company, the size of capital, and additional services that the company may need. Generally, costs include the costs of registering the company and paying the required government fees, in addition to the costs of obtaining the necessary licenses and permits. The cost of the services provided by Itqan Company depends on the services the company needs and your preferences as an investor. Therefore, it is important to contact Itqan Company to obtain accurate details about the total cost and services provided to ensure that the process is commensurate with your needs and budget.

Requirements for establishing a company in a free zone

Establishing a company in a free zone requires compliance with several legal and administrative requirements. Above all, you must choose the appropriate type of company for the planned business activity, in addition to the following points:

1. Determine the business activity: Determine the business activity you wish to engage in, and ensure that it is compliant with local regulations.
2. Choosing a trade name: Choose a unique and appropriate name for your company, and make sure it is not similar to the names of other existing companies.
3. Submit the required documents: Submit the documents required to establish the company, such as a copy of the passport, personal photos, and an office lease contract.
4. Payment of fees: Pay the fees required to register the company and obtain the necessary licenses.
5. Obtaining the necessary approvals: After submitting the documents and paying the fees, you will need to obtain the necessary approvals from the relevant authorities, such as the Chamber of Commerce and local government authorities.
6. Obtaining the license: After fulfilling all conditions and requirements, you will obtain a license to establish your company in the Ajman Free Zone.
7. Opening a bank account: After obtaining the license, you can open a commercial bank account in the name of the company and begin managing its financial affairs.
8. Starting to work: After completing all procedures, you can start doing your business in the Ajman Free Zone.

Types of companies: Establishing a company in the free zone

In Ajman Free Zone, several types of companies can be established and choose from the following types:

1. Sole proprietorship (single enterprise): It is a company owned and managed by one person. This person is fully responsible for the company’s debts and profits.
2. Limited Liability Company (LLC): This is a more common company, where several people (partners) can participate in managing the company and share profits, but liability is limited to the amount of capital invested.
3. Public Joint Stock Company (PJSC): It is a joint stock company with capital divided into shares, which can be sold to the public, and is managed by a board of directors elected by the shareholders.
4. Closed Joint Stock Company (PSC): This company is a type of limited liability company, but differs regarding shareholder rights and conditions for transferring shares.
5. General Partnership: It is a partnership between two or more people to manage and operate a company, where the partners share profits, losses, and responsibilities equally.
6. Subsidiary company: It is a branch of its parent company. It manages its operations according to the same organizational structure and operational rules as the main company.

Commercial license to establish a company in the free zone

Obtaining a commercial license in a free zone in Ajman to establish your company is considered an essential and necessary step for several reasons:

• Legality and Legitimacy: A business license gives you the legitimacy to conduct business activity within the free zone, making your business compliant with local laws and regulations.
• Documentation and certification: A commercial license is considered an official documentation of your company and business activity, and a certification of its existence and legitimacy.
• Customs tariff: By obtaining a commercial license, you can import and export goods without paying customs tariffs in the case of trade with the Arab Gulf countries.
• Freedom to work: A commercial license allows you to conduct business freely without interference from other parties, including the freedom to hire workers and open commercial bank accounts.
• Access to government services: A business license provides access to local government services and contributes to the development of the local economy.

In short, a trade license is the first and essential step to establishing a successful company in a free zone in Ajman, and it guarantees you legal and legal compliance and access to the many services and benefits that the free zone offers.

Types of companies: Establishing a company in the free zone

Procedures for establishing a company in the Ajman Free Zone

In the beginning, the type of company is chosen first. You must choose the type of company you want to establish, whether it is a sole proprietorship, a limited liability company, or something else. Here are the steps for establishing a company in Ajman Free Zone:

1. Choosing a trade name: Choose a unique and appropriate name for your company, which must comply with business regulations in the emirate.
2. Submit required documents: Requirements may vary slightly depending on the type of company, but in general, you will need a copy of your passport, personal photos, and an office lease.
3. Pay the fees: You must pay the fees required to register the company, and they vary based on the type of company and additional services you may need.
4. Obtaining the necessary approvals: After submitting the documents and paying the fees, you will need to obtain the necessary approvals from the relevant authorities, such as the Chamber of Commerce and local government authorities.
5. Obtaining the license: After fulfilling all conditions and requirements, you will obtain a license to establish your company in the Ajman Free Zone.
6. Opening a bank account: After obtaining the license, you can open a commercial bank account in the name of the company and begin managing its financial affairs.
7. Starting to work: After completing all procedures, you can start doing your business in the Ajman Free Zone.

With these steps, investors can establish a company in the Ajman Free Zone with ease, while benefiting from the services of Itqan Company to assist in all necessary procedures. Establishing a company in a free zone opens up wide opportunities for you in the local and regional business market, while providing a distinctive and suitable investment environment for small, medium and large companies. Freedom Zones are an ideal investment opportunity for investors seeking to expand their business and increase their profitability, and Itqan Company can be your ideal partner in this journey.

Frequently asked questions: Establishing a company in Ajman Free Zone