One of the prominent UAE free zones that conduct industrial activities is the Ajman Free Zone Authority (AFZ). It was established in 1988 and was granted autonomous status by the ruler of Ajman, H.H. Sheikh Humaid Bin Rashid Al Naumi.
Business owners can choose from 4 types of entities when they choose to form a company in Ajman Free Zone:
- Free Zone Establishment (FZE)
- Free Zone Company (FZC)
- Branch of a Local Company
- Branch of a Foreign Company.
What Is an Offshore Company Formation Ajman?
An offshore company may be a reference to:
- A company, group or sometimes a division thereof, which engages in offshoring business processes
- International Business Companies (IBCs) or other types of legal entities are incorporated under the laws of a jurisdiction that prohibits local economic activities.
Procedure for Ajman Offshore Business Setup
For setting up an Ajman offshore company, the following steps become necessary:
1. Select a Trade Name
The first step that one must continue with is a choice of a company name. As in line with the rules, three proposed names are to be shortlisted that must suit the commercial enterprise activity.
2. Upload the Required Documents
To proceed further, you’d need the following documents:
- A clear passport copy of each of the shareholders
- Original proof of residence of each of the shareholders
- An original bank reference letter for each of the shareholders
- A CV of each shareholder in English
- Memorandum of Association (MOA) and application for setting up an Ajman offshore company
The process is simple and easy. These documents have to be submitted to the Ajman Free Zone Authority and, if there is no loophole in the documents, they would be cleared within a day or two, and you are good to go.
3. Signing of the Documents
Upon receiving the above papers and the fees, we would be able to prepare the Memorandum and Articles of association and could send them for signing.
4. Avail of the Additional Services Provided
The next step is that you can avail of our additional services as per your requirements.
5. Finally Receive the Necessary Documents
The final step is that you receive soft copies of your important documents.
Activities Allowed under the Ajman Offshore Authority
The activities mentioned below are permitted in the Emirate:
- General Trading
- Professional Services
- Stakeholding
- Investment and Joint Investment Companies
- Advisory/Consultancy Services
- Commission Agents/Brokers.
To make the company incorporation process less cumbersome you can also hire a consultant, who would sort all the registration processes for you. If you are looking for one, we at Commitbiz have our team of experts to help you with company formation, registration, and counselling. For any business-related query or guidance, do contact us, even if it's just for friendly advice.
What are the activities allowed under the Ajman Offshore Authority?
The activities mentioned below are permitted in the Emirate:
- General Trading
- Professional Services
- Stakeholding
- Investment and Joint Investment Companies
- Advisory/Consultancy Services
- Commission Agents/Brokers.
What are the required documents to incorporate an Ajman Offshore Company?
The documents required are as follows:
- A clear passport copy of each of the shareholders
- Original proof of residence of each of the shareholders
- An original bank reference letter for each of the shareholders
- A CV of each shareholder in English
- Memorandum of Association (MOA) and application for setting up an Ajman offshore company.
What are the four types of permitted entities for Ajman Offshore Business Setup?
The types of entities are as follows:
- Free Zone Establishment (FZE)
- Free Zone Company (FZC)
- Branch of a Local Company
- Branch of a Foreign Company.
How many proposed trade names should be shortlisted?
Three proposed business names must be decided which suits the business activity.
When was Ajman Free Zone Authority established?
It was established in 1988.
