The Emirate of Ajman is the smallest Emirate among the seven emirates in the UAE but the opening of a new free zone and the with a slew of lifestyle options it has become an emerging favourite of businessmen and tourists all over the world. The government of Ajman plays an essential and vigorous part in the development of the area. It provides the incentive and advantages that are too good to pass, and this is the reason that investors from all over the world come to Ajman to invest.
The Emirate is well connected to the economic and industrial hubs of Dubai and Sharjah and can be very easily accessed via the Arabian Gulf. Due to the low cost of setting up a business in this Emirate, Ajman is now emerging as a hub for both local and expatriate investors alike. Many of the retail and real estate projects are already on the way in Ajman and have started attracting new investors.
Benefits of Setting up a Company in Ajman
The number of businesses that are registering in the Emirate is gradually increasing as there are various benefits of incorporating your business in Ajman, such as the following:
1. No Mandatory Yearly Auditing
A company set up in the mainland does not have to go through mandatory yearly auditing of the company. This news about a company set up in Ajman comes as a sigh of relief for many of the investors.
Though a yearly audit is not necessary, the company may voluntarily opt for an audit in Ajman.
2. An office can be Rented All Over Ajman
An investor in Ajman has the freedom to place its office anywhere in the mainland. The investor can set up the company in an area depending upon where they think that the business will flourish the most. With this kind of freedom, an investor can make the most out of the business opportunity provided to him.
3. No Currency Restrictions
There are no restrictions imposed on the inflow or outflow of currency by the monetary authorities of the country.
4. Conduct Businesses with Locals
The Emirate of Ajman provides hassle-free trading in the local markets regardless of the size of the company. This feature provides an extra advantage as the number of markets the company caters to increases, and so does the customer base.
5. No Capital Requirement
A capital requirement is the total amount of funds that a company must have to start conducting its business in the area. This feature of Ajman is very crucial for the companies in Ajman as the companies can commence their operations with a small amount of cash in hand.
6. No Limited Activities
There are many business activities to choose from in Ajman. The only exceptions to the business activities are banking, insurance and investment, but all the rest of the business activities are allowed in Ajman. This is not the case in other emirates as there are restrictions on certain kinds of business activities.
7. Limitless Visas
As the company in Ajman grows, it can apply for more visas. This means that the company can have foreign employees as the size of the company increased. In such a way, the company will get new employees as the size of the company increases.
8. Tax-Free Activities
The Emirate of Ajman is free from any corporate or income tax. The only tax which the owners of a business in Ajman will have to concern themselves is the newly implemented Value Added Tax.
9. Free Zone
With easy access to four seaports and two airports, the free zone in Ajman has very solid connectivity with the rest of the world. The cost-effectiveness of the Emirate with the strategic placement of the Emirate makes it an interesting option for investment.
The benefits mentioned above are the reason that setting up a business in Ajman is a very profitable option for investors all over the world. With a bright future ahead, the Emirate of Ajman has become a force to reckon with.
The Future of Ajman
His Highness Sheikh Rashid bin Humaid Al Nuaimi, who is the chairman of the Ajman Municipality and Planning Department has assured that Ajman is moving towards the future in all the aspects of life and also stressed on the fact that AI or Artificial Intelligence is the way forward. Ajman ash already started its work on the future series which has been launched by Ajman X Centre to give an outline of the future of the Emirate. Thirty-two more projects have been discussed, which will be a part of the third phase of the Ajman Future Series. Ajman is working hard towards bringing the future closer to the people, and it has some pretty nifty trick up the sleeves.
If you require help in setting up a business in the Emirate of Ajman, you should take help of firm which will help you to take the right steps which would allow your company to grow further successfully. One such firm is Commitbiz. Commitbiz is a management consultancy firm which will allow the unhindered growth of your business and will provide various services to ensure smooth growth of your company. For more details on the services provided, do contact us – We will be happy to help.