Situated on the Arabian Gulf coast, Ajman is the smallest of the seven emirates in the UAE, with an estimated area of 260 square kilometres. The primary industries in Ajman are construction, manufacturing, real estate, retail, transport, and business services.
Business setup in Ajman requires elaborate planning and decision making. It involves choosing a company name, determining the type of business activity, obtaining the necessary licenses, selecting a suitable infrastructure, hiring human resources, depositing a minimum capital in a corporate bank account, etc. As a result, it behoves a prospective entrepreneur looking to start a business in Ajman to avail business setup services, so as to capitalize on the lucrative opportunities and economic environment of Ajman, while leaving the procedural formalities to the service provider.
Types Of Company Formation In Ajman
Commitbiz has knowledge of the company formation laws and regulations in Ajman, and can help you set up your business here, availing the required licenses (Industrial/Service License, Trading/Commercial License, and Professional/General Trading License). You can choose from among a free zone, mainland or offshore company in Ajman.
Advantages of Setting Up a Business in Ajman
- In the emirate, 100% foreign ownership and full repatriation of capital and profits is allowed in Ajman free zone.
- Ajman free zone presents all the opportunities a special economic zone is supposed to provide, at a relatively lower cost than other free zones in the UAE. This is because Ajman Free Zone Authority levies no registration fee.
- The business registration process in Ajman is straightforward – there are single-window clearances for multiple government services like postal services, licensing, immigration, visa, etc.
- In Ajman, foreign investors can get a 20-year land lease, renewable for another 20 years, thus allowing legitimate tax-exempt operations for 40 years.
Process of Business Setup in Ajman
For starting a company in Ajman, the following steps may be followed:
- Submit a company application form at the Customer Services Centre in the municipality for initial approval.
- Follow up with the Inspection Unit in the municipality of Ajman for verifying the chosen business location.
- Obtain approval of specialized departments in the municipality, if required.
- Obtain approval for the trade name and issuing of business register and membership certificate.
- Submit the necessary approvals, along with receipts from the Ministry of Trade as acceptance into the Register of Companies.
- Pay all fees and submit the application to the Customer Services Centre to get the receipt It would take 1 day to get the licence for your company.
All Business Entities IN commercialized geographical areas and directly registered under the Emirates government and its authorities, are known as mainland companies. Mainland represents the most developed economy as it is set up directly in accordance to the legal structures of the Government policies. A mainland company in Ajman can assume one of the following legal structures:
- Limited Liability Company
- Public Shareholding Company
- Professional Firm
- Branch Office
- Representative Office