Global Incorporations provides the standard of service to lead our clients to Ajman offshore company formation.
Ajman Free Zone
The Emirate of Ajman situated on the coast of the Arabian Gulf extending over a distance of 16 kms between Sharjah & Umm Al Quwain is located on the western coast of United Arab Emirates. It covers an area of 259 sq km and was formed by the Al Nuaimi tribe well known for their bravery, courage and wisdom who migrated to this region from Oman around 1775.
Ajman Free Zone established in 1988 was granted autonomous status under the Amiri decree no. 3 of 1996 issued by H.H. Sheikh Humaid Bin Rashid Al Nuaimi, Ruler of Ajman. Ajman Free Zone Authority has been named as the sole regulatory agency for Free Zone in the Emirate.
Ajman Offshore Company Formation & Free Zone Business Setup
The Ajman Free Zone Authority introduced the Ajman offshore company formation & business setup under Ajman Offshore Free Zone, Offshore Companies Regulations of 2014.
Ajman Offshore Company can give extra anonymity and privacy to conduct your business, bank transactions and/or personal financial investments. In Ajman Offshore and many other UAE jurisdiction, the beneficial owners, shareholders and business officers wiil be on a private register and not on any public record at all.
Characteristics of an Offshore Company Formation in the AFZA:
Minimum of one shareholder is required for Ajman free zone company setup. Corporate shareholders are permitted. Shareholders will decide capital structure of the Company. Single class of shares permitted and bearer shares are not permitted.
A minimum of one director is required and corporate directors are not permitted for Ajman free zone company formation. Individual shareholder can be a director as well.
Every offshore company in Ajman Free Zone must have a secretary. Director can be a secretary as well.
Restrictions on Name & Activity:
Names must end with Limited.
Company must appoint an approved registered agent. A registered agent’s office in the UAE can be used as the registered office of the Ajman offshore company.
Ajman free zone business setup & registration process will take approximately 3 days.
Every offshore company in AFZA is required to keep financial books and prepare auditor’s reports within 3 months by the end of every financial year. These must be approved by the shareholders. The accounts / audit report however do not need to be filed with the Authority.
AFZA Offshore Company pays no taxes in UAE.
Details of shareholders & directors need to be filed with authorities but are not available for public record.
Ajman offshore Company cannot:
- Engage in any activities outside the Free Zone or carry out business with persons outside the Free Zone and within UAE (however permitted to deal with companies in Ajman Free Zone)
- Have a physical office in UAE
- Sponsor UAE residence visas for employees / directors / shareholder
- Obtain tax residency certificate
- Own more than 3 properties
AFZA Offshore Company Renewal:
Renewals for AFZA Offshore companies falls every anniversary date of incorporation. Failure to do so result in penalties. In the event the company is not renewed within 6 months of the renewal due date, the company will be struck off from the registrar of the companies.
Audit Confirmation Letter issued by appointed auditors of the company along with the latest valid passport copy and recent utility bill for address proof of shareholder/director are required to be submitted every renewal as part of enhanced due diligence. If shareholder is a corporate entity, then latest certificate of incumbency and above stated docs of directors would be required.
Documents Required for AFZA Offshore Company Setup:
Individual's KYC Docs:
- Passport Copy (clear copy with clear photo)
- UAE Visa Copy, if applicable
- UAE Entry Stamp, if applicable
- N.O.C. from UAE Sponsor, if applicable
- Address Proof (original recent utility bill for residence)
- Bank Reference letter (original)
- CV / Profile
Corporate Shareholder's KYC to be attested upto UAE Ministry:
- Certificate of Incorporation
- Memorandum / Articles of Association
- Board Resolution
- Power of Attorney
- Certificate of Incumbency
All shareholders (or authorized attorney in case shareholder is a corporate entity) are required to sign in our presence before incorporation of the company. Alternatively they can provide a notarized passport copy and notarized Agent Appointment letter.
Ajman Offshore Company Formation Price:
Register company now for USD 2,158/-.
Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal, tax or other professional advice. We do not accept any responsibility, legal or otherwise, for any errors or omissions.