Established in 1988, the Ajman Free Zone was allocated an independent status under the Emiri Decree No. 3 of 1996 by Humaid Bin Rashid Al Nuami the Ruler of Ajman. Recently there has been a staggering increase in the number of Ajman company formation in the free zone.
Offshore company formation in Ajman was initiated in 2014. Ajman Offshore Company falls under the jurisdiction of the Ajman Free Zone Authority. It has gained a reputation as a popular choice for offshore company formation in Ajman. Similar to other offshore jurisdictions, Ajman Offshore company formation propositions a Zero Tax Structure. Ajman offshore Company benefits from confidentiality & privacy. The permitted address of the Ajman offshore company must be the address of the registered agent. Setting up an offshore company in Ajman is inexpensive and time efficient. Ajman offshore companies are also non-resident companies which is similar to other offshore companies. They are not permitted to operate within UAE. These companies will simply receive a company incorporation certificate. Ajman offshore company cannot conduct business within the United Arab Emirates. The shareholders are permitted to invest in UAE companies. For the registration of Ajman offshore company, a director or shareholder must be physically present in Ajman Free Zone office, along with a registered agent, and personally sign the documents then and there.
Ajman Offshore company formation mandates a minimum of two directors. Offshore companies set up have to conduct annual audits and hold meetings in the presence of an auditor. It is necessary to have a registered agent to interrelate with Ajman Authority with regards to Ajman Offshore Company Formation. KWS-ME assists in the Ajman Offshore company formation as we are business advisors in Dubai and provide Ajman offshore Company setup services. We help you save time, money and efforts by handling all the paperwork and getting all approvals from Ajman free zone authorities. Additionally, we possess a large backing of experience in Ajman offshore company setup. We can set up an offshore company in Ajman in two to three working days at an attractive price for Ajman offshore company formation.
Other features of Ajman offshore company formation are as:
- No need to rent an office for Ajman Offshore company formation
- No permission to trade within the UAE.
- No registration in the Chamber of Commerce for Ajman Offshore company
- No residence visa for founders and directors.
What are the advantages of Ajman Offshore Company registration?
- Fast and cost-effective registration process in Ajman
- Ajman offshore company setup will allow you to open or maintain bank account(s) in the UAE or worldwide
- Zero taxation
- 100% capital and profit repatriation is allowed
- 100% foreign ownership.
- Does not require to have a physical office in the UAE in Ajman Offshore setup, no paid-up share capital
- Ajman Free zone is Globally respected jurisdiction
Characteristics of Ajman Offshore Company Formation in the AFZA are as follows:
- Shareholders: For registration as an Ajman offshore company, it is mandatory to have a minimum of one shareholder. Corporate shareholders are sufficient in Ajman Offshore Company formation. Shareholders will have the option to decide the capital structure of the Ajman offshore company. A single class of shares allowed however bearer shares is not permissible.
- Directors: To setup Ajman Offshore company, a minimum of two directors are required who are not corporate directors. The same shareholder (s) may also act as director of the Ajman offshore company.
- Secretary: A secretary is mandatory for an Ajman offshore company.A director can be a secretary as well.
- Restrictions on Name & Activity: The name of the offshore company in Ajman must have the suffix “Limited”.
- Local Requirements: An official registered agent must be appointed for an Ajman Offshore Company. A registered agent’s office in the UAE will function as the registered office of the Ajman offshore company.
- Timescale: Registration of the Ajman Offshore will take roughly 2 to 3 working days. Shareholders or their authorized attorneys must sign documents in presence of AFZA executives for Ajman Offshore company formation.
- Taxation: Ajman Offshore company pays Zero/no taxes in UAE.
- Confidentiality: The details of shareholders & directors will be filed with Ajman authorities but will not be public.
Ajman offshore is not permitted to:
- engage in activities outside the Fee Zone or conduct business with persons outside the Free Zone and within UAE (However, they are permitted to deal with companies in Ajman Free Zone).
- have a physical office in the United Arab Emirates.
- get UAE residence visas for shareholders
- acquire tax residency certificate
- own more than three properties
Documents required for Ajman offshore company Formation
In order to proceed with the offshore incorporation, we need the following documents:
- A passport copy of the shareholder (each) of the company.
- A valid UAE Visa or Entry Stamp page copy
- Personal profile of each shareholder (CV)
- An original proof of residence for each shareholder.
- An original bank reference letter (Good Standing Letter) for each shareholder.
Requirements for corporate shareholders are:
- Memorandum and Articles of Association
- Incorporation Certificate of the parent company
- Board Resolution affirming the same about Ajman Offshore company formation
- A Certificate of Good Standing
- Passport copies of two (2) Directors
Activities allowed for Ajman offshore company formation
- Ajman Offshore company may be a holding Company
- Ajman Offshore company – General Trading
- Ajman Offshore company can act as Commission agents that are Intermediary Brokers (IB’s)
- Professional Services in Ajman Offshore company
- International services
- Property-Owning (Subject to land department approval or Freehold properties)
- Investments and Joint Investments Company
- Shipping and ship management.
- Advisory and Consulting Services