The smallest emirate among the seven emirates of the United Arab Emirates lies on the Arabian Gulf coast along with the northern emirates. Its area is estimated at 260 square kilometers. The Free Zone Authorities in Ajman are the government bodies registering non-resident companies and issuing business licenses.
Strategically situated at the entrance of the Arabian Gulf, Ajman Free Zone is well placed to serve the Eastern and Western markets. Ajman’s proximity to Sharjah and Dubai provides easy accessibility to the two international airports and four seaports.
Ajman has only one Free Zone named Ajman Free Zone, which is one of the cost effective Free Zones in UAE suitable for start up businesses.
The companies setting up in Free Zones in Ajman are eligible for various incentives and facilities as follows:
Setting up a business in Ajman Free Zones requires planning and decision making through different phases. This involves choosing a name for the company and reserving with the Free Zone, preparation of business plan, choosing suitable infrastructure, estimating required human work force etc. The business registration or licensing process can be completed only after depositing the minimum capital mandated by the chosen Free Zone, in a bank account in UAE. A company being formed may have either an individual shareholder or corporate shareholder or both. The incorporation process requires the shareholders to sign the documents in the presence of Free Zone authorities.
A business license issued by Ajman Free Zone permits a company to practice the business activity mentioned in its license subject to the Free Zone Regulations. The primary step in setting up a business entity in Ajman Free Zone is the selection of business activities. This is so because the other phases of business setting up including the selection of proper legal business structure and number of business licenses can be decided only based on the selected business activities. The reservation of name for the company is as important as choosing the business activity. The name should not resemble the names of any company registered in the Free Zones or reserved for the Government. The Free Zone has the discretionary power to accept or reject a name. In Ajman, the Free Zones classify business licenses mainly into general trading, commercial, professional and industrial.
An individual or a corporate entity can set up and do business in Ajman Free Zone being registered in any of the following legal forms: