Once a business is successfully incorporated, the main task of business owners starts. Incorporation is a legal aspect whereas post incorporation is a practical aspect in relation to businesses. Post incorporation is of great essence as it includes several compliances which are to be adhered to for the successful running of a business.
About Ajman
Ajman is the smallest of seven emirates (state) in the United Arab Emirates. It is located on the western coast of the UAE. It is well known for its beautiful beaches. Ajman is a growing economy having various beaches, museums and shopping complexes. Ajman is in close proximity with Dubai as well as Sharjah thus having benefits in relation to business activity due to which its economy has been growing. It has now been established as an international business hub. In relation to the shopping complexes, Ajman has been on a peak growth of the increasing business culture.
Ajman Free Zones
The geographical location of Ajman is very apt for setting up of businesses. Ajman free zones are properly located to serve the western as well aseastern ecommerce market. from the last 20 years, Ajman free zone has been on a huge growth serving the customers therein. Ajman Free Zone Authority (AFZA) is the governing authority which is responsible for all the activities under the e-commerce market and for registering companies in free zone.
E-Commerce Business in Ajman
E-Commerce business as the name suggests implies, a business which deals with shopping, and commerce online. E-commerce involves technologies such as mobile phones, electronic fund transfer, websites, fashionable electronic commerce, electronic information interchange etc. basic e-commerce transactions involves, selling of online books ( for ex. Amazon) and certain online and personalized online stores. Basically, there are 3 major units prevailing in E-commerce these includes –
- Online retail
- Electricity markets
- Online auctions
The benefits of setting up an E-commerce company in Ajman includes –
- Speedy access
- Wide availability of goods and services
- Easy accessibility
- Around the clock availability.
Post Incorporation Steps
Bank account
Once the company has been incorporated, or the e-commerce business setup has been done by filing all the required legal documents and fulfilling other such legal formalities, the next step which is of utmost essence is opening a corporate bank account of the said business company. A bank account can be opened at ease in the name of the business by contacting any bank. A bank account is important as it will be of great essence in obtaining and receiving payments for the business.
Payment Gateway
For any type of business be it an e-commerce business or any other kind, a payment gateway would be required for processing customer payments. This is an essential post incorporation step as it will allow a website to accept credit cards, debit cards, other internet banking services from various banks and companies. Generally, a single payment gateway is enough as it'll include multiple transactions from different banks. The process of a payment gateway is simple, the customer will make the payment on the gateway, the said amount will be sent to the respective bank account of the business through such payment gateway provider within one or two business days.
T&C Disclaimer and Private Policy
An e-commerce business revolves around the internet. Such websites or other online wherein such business is running through, should contain clear terms and conditions in relation to the contracts dealt between the parties. A disclaimer is also an important part of the privacy policy. Such disclaimer and privacy policy including various terms and conditions have to be drafted keeping in mind the nature of the business and on the basis of various activities in relation to the products dealt with.
Cyber Laws and Regulations
This is an important step for safeguarding the legal status of a business as cyber-crime has severed monetary punishment. All online e-commerce businesses are required to ensure the due diligence of cyber regulations in Ajman. Hence it is required for privacy as well as data protection including data and cybersecurity in respect of confidential management. Apart from such adherence, payment gateway shall also be protected and adhered to. The UAE has a strict system when it comes to cybercrimes. There are strict and severe penalties as well as imprisonment in respect to such crimes
Compliance Management
Compliance management is something wherein policies and procedures are followed in proper accordance and in relation to the setup. An organization's success mostly depends on the way, such an organization follows and practices various procedure and regulations. Some of the important compliances which an e-commerce business shall adhere to includes-
- Apart from the legal requirements, an e-commerce business In Ajman is required to comply with various other laws and regulations as well. Like the cyberlaw, contract guidelines and other penal provisions. Apart from these, banking and other financial norms are to be relied upon.
- Proper techno due diligence shall be done by the business owners before forming a website.
- The Government of the UAE provides for various guidelines in relation to the activities which are conducted online.
Keeping in Proper Pace
Once the E-commerce business setup is done, and all the compliances have been complied with, everything will be moving with the speed of light.Hence for keeping in pace and running ahead in the competitive market of Ajman proper strategies are to be followed and adhered to. Business owners are required to advertise the brand image and all the other services provided by the business. compliance management plays a crucial role under this step as well.
E-Commerce Business Setup Services
We at Commitbiz offer expert and professional services in relation to setting up an e-commerce business in Ajman as well as in Dubai. We are experts in this field having 15+ years of experience in business setup and other such range of services. For any query in relation to business from incorporation to winding up or compliance management, please contact us. We would be happy to help.
