Ajman Free Zone – IBC

Ajman Free Zone - IBC

You can now register your company online. To setup your company in Ajman Free Zone Offshore – IBC kindly Click On

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. Sheik 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.

The free zone authority introduced the registration & formation of International Business Companies under Ajman Free Zone International Business Companies Regulations of 2014.

Characteristics of an AFZ International Business Company Set Up:

  1. Shareholders:
    Minimum of one shareholder is required for AFZ International Business Company registration. Corporate shareholders are permitted. Shareholders will decide capital structure of the Company. Single class of shares permitted and bearer shares are not permitted.
  2. Directors:
    A minimum of one director is required is required for AFZ International Business Company registration. Corporate directors are not permitted. Individual shareholder can be a director as well.
  3. Secretary:
    For AFZ International Business Company set up, a secretary is a must. Director can be a secretary as well.
  4. Restrictions on Name & Activity:
    Names of AFZ International Business Companies must end with the word Limited.
  5. Local Requirements:
    International Business Companies registered in AFZ must appoint an approved registered agent. A registered agent’s office in the UAE can be used as the registered office of the International Business Company.
  6. Timescale:
    AFZ International Business Company registration will take approximately 3 days.
  7. Annual Reporting:
    AFZ International Business Companies are 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.
  8. Taxation:
    AFZ International Business Companies pays no corporate taxes in UAE. However if it has taxable supply in UAE, VAT may be applicable. AFZ International Business Companies are non-resident companies and hence not entitled to tax residency certificate and also can not avail benefits under any Double Tax Avoidance Agreements.
  9. Confidentiality:
    Details of shareholders & directors of AFZ International Business Companies need to be filed with authorities but are not available for public record.
  10. Limitations of AFZ International Business Company:
    Ajman International Business Company cannot:

    1. 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)
    2. have a physical office in UAE
    3. sponsor UAE residence visas for employees / directors / shareholder
    4. obtain tax residency certificate
    5. own more than 3 properties

11. Company Renewal:

Renewals for AFZ International Business 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.

12. Documents Required for AFZ International Business Company Registration:

Individual’s KYC Docs:

  1. Passport – original to be verified personally in our office, otherwise client can provide an original notarized copy of the passport
  2. UAE Visa Copy, if applicable
  3. UAE Entry Stamp, if applicable
  4. N.O.C. from UAE Sponsor, if applicable
  5. Address Proof (original recent utility bill for residence)
  6. Bank Reference letter (original)
  7. CV / Profile
  8. Dully filled FATCA Form
  9. Notarized US Declaration (if a US Person)

Corporate Shareholder’s KYC to be attested upto UAE Ministry:

  1. Memorandum / Articles of Association
  2. Board Resolution
  3. Power of Attorney
  4. 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.

AFZ International Business Company Formation Cost:

1st Year Fees & Charges:
Authority fees for incorporation AED 3,000/-
2nd Year Onwards:
AFZ fees for renewal AED 1,500/-

Professional Fees for Incorporation of AFZ Offshore International Business Company and Annual Agent Fees are to be quoted separately.

Global Business Services DMCC has helped many individuals and corporate entities to set up their businesses in AFZ International Business Company. Our Company acts as a one stop solution for AFZ International Business Company incorporation services.

If you are looking for a AFZ International Business Company set up, please get in touch with us for professional assistance

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.

GBSOur Office
Organically grow the holistic world view of disruptive innovation via empowerment.
+971 4 4471803
OUR LOCATIONWhere to find us?
For company formation and company incorporation services please contact us at our mailing address:

Office No.12A-06,
13th floor HDS Tower,
Plot No. F2,
Jumeirah Lakes Towers,
Post Box 309074,
Dubai (U.A.E)

GET IN TOUCHGBS Social links
Taking seamless key performance indicators offline to maximise the long tail.
GBSOur Office
Organically grow the holistic world view of disruptive innovation via empowerment.
+971 4 4471803
OUR LOCATIONWhere to find us?
For company formation and company incorporation services please contact us at our mailing address:

Office No.12A-06,
13th floor HDS Tower,
Plot No. F2,
Jumeirah Lakes Towers,
Post Box 309074,
Dubai (U.A.E)

QUICK LINKSOur Services
GET IN TOUCHGBS Social links
Taking seamless key performance indicators offline to maximise the long tail.
AVANTAGEHeadquarters
Organically grow the holistic world view of disruptive innovation via empowerment.
OUR LOCATIONSWhere to find us?
GET IN TOUCHAvantage Social links
Taking seamless key performance indicators offline to maximise the long tail.
AVANTAGEHeadquarters
Organically grow the holistic world view of disruptive innovation via empowerment.
OUR LOCATIONSWhere to find us?
GET IN TOUCHAvantage Social links
Taking seamless key performance indicators offline to maximise the long tail.

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Copyright © 2020 Global Business Services.

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