Ajman Free Zone (AFZ)
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Benefits of Setting Up Your Offshore Company
Confidentiality and Privacy
Offshore companies in the UAE are not obligated to disclose financial information or the personal details of their directors and shareholders in public records. Additionally, there is no requirement for these businesses to undergo an audit, ensuring a high level of confidentiality.
Reduced Liabilities
An offshore company offers the assurance that its assets and possessions are safeguarded in legal proceedings. This structure provides asset protection for investors, creating a barrier between the company’s resources and any external claims.
Gateway to Global Expansion
Establishing an offshore company with a UAE-based address instantly lends credibility to a business, paving the way for international partnerships and activities. It also enables the opening of a UAE bank account, offering access to multiple currencies and facilitating global financial transactions.
Tax Benefits
As of 2023, the UAE introduced a corporate tax rate of 9%. However, offshore companies, which are not permitted to conduct business within the country, are exempt from this taxation, enjoying significant tax advantages.
Establishing an Offshore Company
Based on your business requirements, you have the option to establish an offshore company in one of these three jurisdictions:
- Ras Al Khaimah International Corporate Centre (RAK ICC)
- Jebel Ali Free Zone (Jafza)
- Ajman Free Zone
Ajman Free Zone (AFZ)
The Ajman Free Zone is renowned for its advanced infrastructure and accommodates a broad spectrum of both onshore and offshore business activities. It is particularly conducive to trading, consultancy, and holding company operations. This rapidly expanding free zone has experienced a 45% growth in specific sectors and offers numerous advantages.
Included Benefits:
- Proximity to Ajman Port, as well as Dubai and Sharjah airports
- Rapid incorporation process, allowing companies to be established within just a few days
- Permission for offshore company owners to hold shares in UAE free zone companies and LLCs
- No requirement for a physical office presence
- A cost-effective option for offshore company formation
Types of Offshore Companies in Ajman Free Zone
Contrary to mainland and free zone companies that receive business licenses, offshore companies are granted certifications to manage UAE-based businesses. This distinction arises because an offshore company in the UAE is not permitted to operate within the country and, therefore, does not receive traditional business licenses.
Based on your specific business requirements or activities, here are the various types or activities suitable for an offshore company:
Requirements for Establishing an Offshore Company in Ajman Free Zone
The process of setting up an offshore company varies based on the location and method of formation. For the Ajman Free Zone, the following requirements are necessary:
Steps
1. Completed Application Form
2. Passport Copies of All Shareholders
3. Copy of UAE Entry Stamp Page for All Shareholders
4. Original Bank Reference Letter for Each Shareholder
5. Proof of Residency for All Shareholders
6. Curriculum Vitae or Profile of Each Shareholder
7. Additionally, if the shareholders are corporate entities, the following documents must be submitted: Board Resolution granting Power of Attorney, Certificate of Incorporation, Certificate of Good Standing, Memorandum of Association
Costs of Establishing an Offshore Company in AFZ
The cost of forming an offshore company in the UAE varies according to the selected option. This fee can also change depending on the nature of the business activities, the number of shareholders, office space needs, and other specific factors.
Similar to the Ras Al Khaimah International Corporate Centre (RAK ICC), the starting price for setting up an offshore company in the Ajman Free Zone begins at USD 2,050, equivalent to AED 7,500.
Obtain an estimated cost for forming your offshore company.
Discover Monthly Payment Options with Partner Banks
Experience the convenience of converting your transactions into manageable monthly installments through our selected banking partners. Simply use your credit card for a minimum transaction of AED 1,000 from any of our participating banks and enjoy the flexibility of repaying it in easy installments over a period of up to 12 months.
* Please note that general terms and conditions set by the banks will apply.
Steps to Follow
Complete a minimum purchase of AED 1,000 using your credit card for any services provided by Vip Zone.
Contact the banking services of any of our partner banks and request the conversion of your purchase into an Easy Payment Plan.
Choose to pay over 3, 6, 9, or 12 months as per your convenience
Guide to Establishing Your Offshore Company in Ajman Free Zone
Vip Zone simplifies the intricate process of setting up an offshore company in Ajman Free Zone by offering comprehensive guidance and support at every step.
Steps:
1. Select Your Company Name and Activities
Begin by defining the activities of your offshore company in Ajman Free Zone and reserve a company name that aligns with your business ethos, ensuring it is culturally respectful and avoids any religious or political sensitivity.
2. Engage a Registered Agent
A registered agent will facilitate the necessary communication and administrative tasks required for offshore company setup.
3. Submit Your Application and Documents
Assemble all necessary documents as per the aforementioned list and submit them for review, an essential part of the Ajman offshore company registration process.
4. Draft Your MOA & AOA
The Memorandum of Association (MOA) and Articles of Association (AOA) of your company need to be notarized and translated into Arabic before submission.
5. Establish a Corporate Bank Account
Conclude the process by opening a corporate bank account for your business transactions. The relevant bank documents should also be included with your company application.
