Recognized as one of the smallest yet powerful Emirate of the United Arab Emirates, the ground of Ajman is located along the Persian Gulf, the region contributes a significant portion towards the development of the nation. The oil economy backs the area, that has added above 90 per cent in 2018. Understanding the need to leverage the non-oil sector, the Government of United Arab Emirates in sync with the Ajman Government has been planning to strengthen the non-oil segment to leverage its contribution towards the development of the nation. One of the necessary steps that have been initiated is Ajman 2021.
If you are planning to expand your business entity or to incorporate a business in the UAE, then Ajman is the right location for you. However, prior to that let’s have a look at the concept of Ajman 2021, and what it holds for the business investors and owners.
The Move: Ajman 2021
The Government of the UAE has been focusing on Ajman to uplift the Emirate and build a well-regulated framework that would enhance the chances of business investors to come forward and invest in the location. The move of Ajman 2021 is one of the game-changing steps that would include the following strategies:
- Building a happy and cohesive society
- Revolutionize the ground of Ajman as a Green economy
- To uplift the Emirate and sync the plans with UAE Vision 2021
- Build smart policies wit respective legislations and framework
- To strengthen the Ajman Government departments
The implementation of the above-stated strategic moves would help the Emirate to grow and establish itself as one of the best performing business grounds at a global level. The core focus of Ajman 2021 takes the following industries into consideration:
- Transport and Logistics
- Outsourcing Business Activities
The initiatives mentioned above have already been into place, and thus, it turns out to be one of the grabbing opportunities for the business investors to come forward and invest in Ajman.
If you are planning to start a business in Ajman, then have a look at the next section.
Top Business Sectors in Ajman
Over the years, the ground of Ajman has turned itself to be one of the profitable business destinations for multiple business industries. Some of the top-performing business industries in Ajman includes:
- Travel and Tourism
- Real Estate
- Retail trade and repairing services
- Transport and Storage
How to Start a Business in Ajman?
The business investors need to follow the below-mentioned process to incorporate a business entity in Ajman.
- Be transparent regarding the business activities to be carried out effectively.
- Choose a business trade name that needs to be unique, and shouldn’t sound offensive.
- Next move is to select the respective business location to perform the actives
- Once decided, submit a duly filled and signed application form at the Customer Services Centre for the initial approval.
- The Inspection unit in the municipality of Ajman needs to be verified
- Relevant documents need to be submitted at the respective government authorities. The set includes:
- A valid copy of passport and visa of the shareholder(s)
- Identity and address proof of the business shareholder(s)
- Notarized Memorandum and Articles of Association
- Filled application for the incorporation of an offshore account
- A bank reference letter
- A copy of the business plan
Benefits of Starting a Business in Ajman
Setting up a business in Ajman turns out to be a profitable option because of the multiple benefits it provides to the business investors and owners. By proceeding ahead with the business establishment in Ajman, the business owners can avail the following benefits.
1.The flexibility of Business Locations
Like the other Emirates of the UAE, the ground of Ajman also turns out to be a sufficient ground as it provides multiple benefits to the investors to carry out the activities in different locations. The Emirate of Ajman holds the location options of Mainland, Free Zone and Offshore, which can be chosen by the business investors based on the business activity to be carried out, several shareholders and capital to be invested.
Ajman is located at the Persian Gulf and is a neighbour to the Emirate of Sharjah and Dubai. This strategic location is seen as a golden chance for internal investors to expand their business into the relevant Emirates.
3.Complete Tax Exemption
The term “tax” is a nightmare to the business investors and owners who are bound to pay the personal and professional tax. Focusing on this issue, the Government of the UAE came up with a liberal option of exempting the income tax, which turns out to be a significant relief.
However, being a part of the GCC countries, the UAE has implemented the VAT proceedings since 1st Jan 2018, wherein the business entities are entitled to pay the corporate tax at a rate of 5 per cent. The move has been initiated to diversify the sources of revenue for the nation.
4.Easy Company Incorporation Proceedings
The Emirati Government has been implementing multiple strategic solutions to uplift every Emirate in the UAE. The ground is looking forward for the global business investors to come forward and invest in the region. Focusing this, they have simplified the process of starting a business in the UAE.
When it comes to business setup in Ajman, you can see that certain approvals are to gather from the respective Government authorities by submitting the separate set of documents. As mentioned in the previous section, once the business license gets approved, the activities can be carried out at ease.
5.Upcoming World Expo 2020
Dubai, the heart of the UAE is on the edge of grabbing the international attention of the company investors and entrepreneurs as it will be inaugurating the World Expo by October 2020. This event is expected to be a strategic move to uplift the nation’s economy and drive revenue growth. Business investors globally look forward towards the event as a business-collaboration platform. Irrespective of the nature and size of the business, the event will turn-up to be a beneficial ground for established as well as small and medium-sized business.
The business investors and established entities in Ajman also hold a more enormous scope to internationalize the business entity by getting involved in global collaborations. So, if you are one among the business investors who are looking forward to expanding business internationally at a reasonable cost, then Ajman is the best destination for you to start with.
It can be understood that performing out business activities in the region of Ajman turns out to be a favourable idea when it comes to investment. Here’s the link to figure out the reasons for investment in Ajman. Now, it is recommended to proceed ahead with the advice of professional business experts. Are you wondering why? Well, the answer is just below.
Why to Avail Professional Services?
The global business investors understand the involvement of the legal processes that appear in the way of the company formation process. By availing the professional services, the business owners can proceed ahead with the following benefits:
- Experts can sort the business incorporation process at ease
- The documentation process gets handled effectively
- The burden on business investors and owners gets decreased to a great extent
- Available time and resources can be utilized in a productive way
- The market insights can be known at ease
- Business experts do have several connections which allow them to carry out the proceedings within a short span.
How Can We Help?
Commitbiz Business Consultants has been standing as one of the top business consultants in the UAE, with the intent of providing the best business incorporation solutions for the business entities. Since inception, we have been helping multiple business clients to transform their business dreams into reality across the UAE, Oman, Bahrain and Qatar.
Our business experts are well-versed with the incorporation proceedings and can help you to sort the process in an easy-go. They hold years of industry experience, which allows them to provide customized solutions suiting the business needs. In case you own any query or want to proceed ahead towards the company incorporation process, feel free to have a word with our business experts. Contact us today-we’d be glad to assist.