- January 18, 2016
- Posted by: Aswani
- Category: Blog
Famed as the “entrepreneur’s heaven”, Alman Free Zone was established in the year 1988. The jurisdiction enjoys the status of an autonomous body under the Amiri decree No. 3 of 1996. Inaugurated with an aim to attract foreign trade as an ambitious multi-million industrial development plan, Ajman Free Zone, at present is a home to an expansive range of international ventures operating in a wide variety of industries and significantly contributing to the economic development of UAE. Just like other free trade zones in UAE, Ajman too offers a host of advantages to businesses functioning in the Ajman Free Zone.
While the free zone charges an exorbitant entry free to incorporators, at the same time, provides comprehensive office spaces at the most budgeted monthly rental prices. The jurisdiction also offer e-commerce licenses to companies at a price far less than that offered by other free trade zones operating in UAE.
With a pocket full of unmatched benefits, Ajman’s strategic location is its crowning feature. Nestled on the western coast of United Arab Emirate close to the Arabic Gulf gateway with proximity to Dubai and Sharjah, Ajman serves as a bridge between the western and the easter world. The free trade zone provides excellent accessibility to the two international airports and four seaports. On an average, the Ajman port caters to approximately thousand vessels on an annual basis.
The free zone jurisdiction of Ajman is most known to provide excellent business operating benefits to international entrepreneurs and investors. Some of the major advantages are as follows:-
No import and export duties
No service charges applicable
No hidden fees
State-of-the-art infrastructure with low maintenance cost
Availability of cheap energy and labor
20 years land contract which can be renewed for another 20 years,
Lowest regional tariffs
Quick licensing process
International ventures can also avail the following benefits:-
100 per cent foreign ownership with no involvement of a local partner
100 per cent repatriation of capital and profits
No personal income tax or corporate tax need to be paid
Low labor cost, and no red-tapism.
Looking into what type of legal entities can be established in Ajman’s free trade zone, then the following can be incorporated:-
Free Zone Establishment (FZEs)
Free Zone Companies (FZCs)
Branch of Local Companies (BLCs), and
Branch of Foreign Companies (BFCs)
Ajman Free Zone is governed by its own set of rules and regulations that need to be followed by every venture operating or planning to establish a base in the jurisdiction. Furthermore, the incorporation process involves many legal formalities and it is best to seek the services of a professional business consultant as they are well-versed with the establishment process and can help you establish a company in Ajman Free Zone in the shortest possible time.