Setting up an offshore company in Ajman is one of the preferred choices for investors and businesses from around the world due to the advantages it offers. With its strict confidentiality regime and secured deposit, investors can receive numerous benefits from incorporating this type of legal entity.
Ajman is a Free Zone established in 1988 and it offers the offshore jurisdiction for businesses that want to engage in international business activities.
The Company Formation in Ajman Offshore is a pretty simple and straightforward process. It’s also one of the cheapest form of business setup in the UAE, and since you don’t need a business license you can start your operations right away.
Steps for incorporating an Ajman Offshore Company
The Business Setup in Ajman Offshore can be done in just a few weeks and you just need to follow simple steps to have your company up and running.
First, you must select the trade name for your business according to the regulations. Then you must determine the legal structure for your company, i.e. the number of shareholders, activities and more. After that, you should gather the documentation and submit the application. Once the Authority has reviewed it and approved it, you can get obtain the Certificate of Incorporation for your business and start your operations.
Documents required for incorporating an Ajman Offshore Company
To Start your Business in Ajman Offshore you must gather the required documents that you must submit with your application form. Keep in mind that if you’re planning on having corporate shareholders you must attest the documents before submitting them.
Here’s the documents you must have to incorporate an Offshore Company in Ajman:
- Shareholders’ passport copies
- Proof of residency for each shareholder
- Articles of Association and Memorandum of Association
- Company formation application
- CV of each shareholder
- Bank reference letter
It’s important to handle all the paperwork efficiently so you can carry out the legal formalities easily and obtain your certificate of incorporation in no time.
Requirements for incorporating an Ajman Offshore Company
To carry out the Ajman Offshore Company Setup you must comply with the requirements established by the Authority. This is because you must follow the regulations for offshore companies in Ajman.
Some of the requirements for an Ajman Offshore Company are the following:
- The company has to be incorporated with at least a single shareholder and a maximum of 50 shareholders.
- Shareholders can be either individual or corporate
- The capital requirements should be decided by the company’s shareholders
- The company must have at least two directors
- It’s not allowed to have corporate directors
- A single individual can have the position of director and shareholder
- It’s necessary to have a secretary. A director can assume this role
- To incorporate the company is not necessary to be present. However, the physical presence of shareholders is required to sign the documents in the presence of AFZA representatives
- It’s necessary to appoint an official agent
- The offshore company’s name should have the word “Limited” at the end
- The company can own a maximum of three properties
Company’s shareholders can also invest in UAE companies, but they can’t get an UAE residence visa with an offshore company.
Advantages of an Ajman Offshore Company
- No corporate tax
- Foreign investors can have 100% ownership of the business
- No tax on sales or capital
- Full repatriation of capital and profits
- No restrictions on currencies
- Investor-friendly tax regimes
- Owning a company recognized by IBC (international Business Company)
- Access to cheap business set up packages
- It’s not necessary to share the public records of the company
- Company doesn’t have to share the shareholders and directors’ names
- It’s not required to rent a physical office space for the company
- The offshore company can have an UAE address
- It’s allowed to carry out multiple business activities
- 0% import duties
- You can open a bank account in the UAE or worldwide
- Easy and quick company incorporation process
- No paid up share capital for an Ajman Offshore Company
Permitted activities for an Ajman Offshore Company
Since the business setup in ajman doesn’t involve applying for a business license, it can be easier and faster compared to other jurisdictions. In this regard, since there’s not a business license, the company can carry out multiple activities.
One of the greatest benefits of an offshore company is that it’s a low-cost option and you can still enjoy carrying out lucrative activities in a thriving business environment.
In this regard, an offshore company can be used to carry out the following activities:
- Holding Company: an offshore company in Ajman can be a holding company
- General Trading: you can use the offshore company to carry out international general trading activities with your customers
- Professional Services: with the offshore company you can offer professional services and carry out professional activities internationally.
- Investments and Joint Investments Company
- Shipping Company: take advantage of this strategic location and use your offshore company for ship management or shipping activities.
- Advisory and Consulting Company
- Property Owning Company: this type of business activity is subject to land department approval
- Commission Agents
In this regard, you can use your offshore company to carry out business activities such as export, import, trading, shipping and more activities allowed by the jurisdiction and according to the regulations for an offshore company.
Ajman Offshore Company Formation costs
Incorporating an Offshore Company in Ajman can be a smart decision for businesses from all sizes, from entrepreneurs to large corporations.
It’s important to consider the business setup cost in Ajman if you’re considering taking advantage of this excellent place to carry out international transactions.
Some of the expenses that you have to consider regarding the ajman free zone company setup cost are the following:
- Registration fee
- Fee for the Certificate of Incorporation
- Bank account opening fee
- Company stamp fee
Since Ajman Offshore Company is considered one of the cheapest options for establishing a business in the UAE, it’s worth noting that this jurisdiction offers competitive rates compared to other ones.