Emirate of Ajman is one of the seven emirates of the United Arab Emirates. Spread across two hundred sixty kilometres, it is also the smallest one. It is bordered on the north, south and east by Emirate of Sharjah and is home to two lakhs forty thousand. Around ninety-five per cent of the population is placed in the Ajman city and which is also the capital of this Emirate and is part of the Dubai-Sharjah-Ajman metropolitan area. Also, Ajman is the smallest Emirate in the UAE and is located in the Arabian Gulf Coast. Investors are looking straight to investing in Ajman due to the opportunities that the Emirate provide. If an individual wants to Set up business in Ajman, they are required to plan and to make the decision to start a new venture.
The primary industries in Ajman are construction, manufacturing, real estate, transport, retail and business services. Presently, the Transport Company and Maintenance Company in Ajman are reaching at its peak. Incorporating an offshore company in Ajman is very time efficient and inexpensive. Ajman foreign companies are also non-resident companies. They are not given operating licenses. Instead, they have issued a company incorporation certificate. Ajman offshore company cannot conduct business within the United Arab Emirates. The shareholders, however, are allowed to invest in UAE companies.
Business Setup in Ajman Free zone
Let's look into the business incorporation in Ajman Free Zone. It will be worth to know what are the major business sectors. The economy of Ajman is bifurcated into five major areas.
- Retail and Wholesale
- Transport Storage
- Manufacturing and construction
- Real estate and business services
All these five sectors contribute to eighty-seven per cent of the GDP with building and development being the front-runners.
Ajman free zone
Ajman port and Ajman free zone are significant contributors to the economy at any given time. Ajman free zone can accommodate one thousand five hundred companies and one thousand vessels a year. The port exports to sixty-five countries and two hundred fifty companies operate from this free zone. Ajman offshore was established in 1988 is under the jurisdiction of Ajman free zone authority.
Advantages of Operating in Ajman Free zone
Here are the benefits of operating a company in the free zone in Ajman.
- No Corporate tax
- No Personal charge
- Hundred percent foreign ownership
- Minimal Capital requirements
- Complete privacy and confidentiality
- Protection of assets
- Repartition of Company capital and profits
- Relaxed customs duty guidelines
- Freedom to claim to intellectual property
- No foreign currency restrictions
The Benefits of Incorporating an Offshore Company
Ajman free zone offshore has additional benefits of an offshore company account. Here are the major benefits that your business will get if you open a foreign company in Ajman.
Tax Laws are elementary, and Ajman offshore is considered o be tax neutral. There are nominal taxes present and in due time as because of the proper accounting techniques, taxes can be reduced to minimum or zero.
You can shield your company's assets by opening an offshore account in Ajman. Often emirates like Ajman have relaxed law in terms of foreign account holders, and they do assist an individual in maintaining privacy about their business entities. Opening an offshore account gives you the satisfaction of your business extension.
Complete Privacy of Accounts Holders
An offshore account assures that you get complete privacy in terms of financial security and are free from threats of economic enemies, criminals and scam artists. If you have a high net worth individual who is looking to open an offshore account in a haven, then Ajman is the perfect place for you. You get the tax advantages, and also you get the benefit of conducting the business of choice.
Low administration costs
In fact, low or zero minimum capital requirements, there is a straightforward procedure for a company incorporated in the offshore free zone. As far as opening a virtual office, accounting and documentation are concerned.
Simplicity of Business
This is an essential factor. With the advantage of having a virtual office in an offshore location, the function is simple. You can be in your country with the origin while your business operates in Ajman. With the help of a local business partner/registered part.
Commitbiz is a premium consultant. If you want to set up business at Ajman, we can help you through the whole process and documentation as well. Our experts are well versed and will help you through every requirement. For more details, Contact us.