All about Ajman Offshore Company Formation

by Zaara 28, Aug 2019

All about Ajman Offshore Company Formation

The strategic location of Ajman offshore, centrally placed in the United Arab Emirates, makes it the most sought-after offshore zone in the country. Ajman Offshore Company is controlled by the Ajman Free Zone. The jurisdiction was initiated in the year 2014, and since then it has gained a reputation as the most famous offshore jurisdiction amongst the investors. State-of-art infrastructure, competitive investment privileges, hassle-free incorporation process, and credibility of Ajman Emirate as one of the fastest growing regions have lured investors to establish an offshore company in Ajman.

Offshore companies have an essential part in the worldwide economy giving private, charge proficient methods for universal contribution and leading global business. An offshore structure is perfect for people and corporate elements for limiting operation costs; people of high total assets, worldwide speculators, property proprietors, and business visionaries.

Let us now look into the various offerings by Ajman Offshore jurisdiction to its investors.

Benefits of Ajman Offshore Company Incorporation

The offshore centre serves as an investment medium for companies and provides them with the benefits of an offshore company, which includes the following;

  • Zero taxation system
  • Option of anonymity
  • No office/industrial premise required
  • No Chamber of Commerce registration required
  • No residence visa for founders and directors. Shareholders and/or directors are not automatically eligible to obtain a UAE residence visa from the offshore company opened
  • No compulsion on submission of an annual audit report
  • 100% repatriation of profits and capital
  • Less time required for company incorporation

Ajman Offshore Licensing Activities

  • General trading
  • Consulting and advisory services
  • Holding company
  • Investment and Joint Investment Company
  • Property owning (subject to the local laws)
  • International services
  • Professional services
  • Shipping and ship management companies
  • Commission Agents Company- Intermediary Brokers (IB’s)

Primary Characteristics of Offshore Company in Ajman

  1. Shareholders- Having one shareholder is compulsory for Ajman offshore business setup. The shareholders decide the final capital structure of the company, allowing single category of shares. Here, the offshore does not allow bearer shares.
  2. Directors- The company requires having at least two directors. The corporate may or may not act as directors; however, the company’s shareholders can take the role of a director.
  3. Local Requirements- The company does not have a compulsion to have an office. However, the office address of the local agent will be used as official registration of the company.
  4. Secretary- One has to have at least one secretary in the company. The director or shareholder is allowed to act as a secretary.
  5. Name Restrictions- Any company formed in Ajman should end its company name with ‘Limited’.
  6. Registration Time- It takes not more than 2-3 working days to register an offshore company. The shareholders have to be physically present to sign the legal documents in front of the free zone authorities.
  7. TaxationAjman offshore companies pay no tax in the UAE.

Procedure to Start an Offshore Company in Ajman

Being a recently started offshore company, Ajman offshore company formation process is much faster than any other offshore jurisdictions in the UAE.  Once company name and activity approvals are done, and all incorporations documents are complete upon submission to the Ajman Free Zone Authority, the offshore company can be incorporated in a matter of 2-3 working days. The minimum share capital required to kick-start your offshore company is minimum AED 10,000.

Required Documents

  • A passport(s) copy of each shareholder of the company
  • Original proof of residence for each shareholder (can also be recent telephone bill)
  • A draft copy of Articles of Association and Memorandum of Incorporation
  • Application form of incorporating an offshore company
  • Company stamp
  • Share certificate
  • Incorporation fees
  • A CV of each shareholder, director and secretary in English

Why Choose Ajman Offshore for Company Formation?

If formed a company in Ajman Offshore, the company can enjoy a prime location in a significant global economic hub- UAE. The jurisdiction enjoys a growing worldwide reputation and is one of the rising stars of the offshore world. Additionally, Offshore Authority in Ajman also offers various tax incentives and supports the upcoming startups and investors by its modern legal framework.

Are you interested in setting up a company in Ajman offshore? We at Commitbiz can be your consultants in the business setup process. Our advisors have years of experience in this field and can make this process hassle-free. Contact us today- we’ be happy to help you.