UAE is popularly known as the infrastructure innovation hub of the world. Be it the awe astounding tourist attractions of Dubai, start-up havens in Ras Al Khaimah, or the corporate magnets in the form of industrial parks in Abu Dhabi attracting new businesses every year. In this context, the UAE business market is also studded with many public shareholding companies contributing to the Emirati Economy. Ajman happens to be one of the most underrated of its sibling emirates. Since it is a primary business hub, many raw materials/resources such as construction equipment, infra-tools, base materials are manufactured and transported to different parts of the United Arab Emirates for various use by several industries and corporations. For its various prospects with different business sectors, not only private investors but public shareholders are also taking an interest in investing in Ajman.
Ajman is the smallest emirate in the UAE, with an estimated area of 260 square kilometres. It is geographically squeezed between Dubai and Sharjah. Ajman occupies a small coastal region of the Arabian Gulf, which is why the established infrastructure comprises ports, storage outlets, manufacturing hubs, and several primary business locations. The various economic advantages and demographic features make Ajman the ideal location for business setup in the UAE. This Emirati business region might not be the glistening and glamourous region surrounded by tourist attractions, malls, and flashy tech parks. It is instead a business area that supports many SME companies, service entities, and public shareholding company in UAE.
What is a Professional Firm?
A professional firm or professional services business refers to corporate entities that provide outsourcing services to clientele firms. These services are issued either on a long-term partnership/collaborative basis or subjected to contractual agreements limited to seasonal campaigns or temporary service. Professional firms provide services in various industries based on their B2B target segment. These services include – company secretarial services, accounting, and auditing services, advertising, branding, campaigning, designing, architectural services, engineering services, and consultancy, to name a few. Professional service firms often gain the attention of public shareholders in an open market such as Ajman due to the relevant buzz in the B2B business trend. Through active networking and corporate interactions, many entrepreneurs transition their business model from a private business to a public shareholding company. Thus, many business owners opt for public shareholding company formation in the UAE.
A standard set of documents are required for business registration in Ajman. These documents are –
- A valid copy of the passport of the company shareholders
- Proof of residence of the company owner
- Memorandum of association
- Article of association
- Duly filled application for incorporation of an offshore account
- Bank reference letter
- Resume of the owner of the offshore account
- Business plan with cost-benefit analysis
The above mentioned are the same documents necessary for professional company formation and public shareholding company formation in Ajman.
Procedure for Formation of a Professional Firm Business
1. Municipality Procedures
- The initial approval process requires business owners to submit a company application in the Ajman municipality Customer Services Centre.
- Contact the Ajman Municipality location inspection unit for verifying the use of the preferred business location.
- If required, the applicants must acquire approval from specialized departments of the Municipality.
2. Register of Companies
- Apply for trade name and membership with the Ministry of Trade.
- Submit the necessary documents for approval.
- Submit the necessary approvals, along with receipts from the Ministry of Trade, as acceptance into the Register of Companies.
3. Final Procedures
- Submit the approved documents to Ajman municipality Customer Services Centre.
- Pay the necessary fees and collect the receipt as acknowledgement.
- The applicants can collect the business license for their company after one day as processing, documentation, and issuance take 24 hours after fee payment.
How can Commitbiz Help?
A consultant strives to ensure the business kick-offs to perform exponentially in the market, and finally, when business scalability has been saturated, liquifies hassle-free providing a suitable amount of remuneration to the top managers and available severance to the hard-working employees. We at Commitbiz comprise of a team of specialized industry professionals that have been operating in the business setup sector for more than 15 years. With all the years of experience, we make sure that business owners can set up business in the UAE and various global business locations. We provide a complete array of business setup services ranging from business incorporation, company secretarial services, accounting & bookkeeping services to nominee director services. Contact us to know more about our services.