Characteristics of Company Setup
Company Formation: An Ajman Offshore has to be registered with the AFZ Authority. The company must have a minimum of one shareholder with a minimum of one director.
Local Requirements: Ajman Offshore 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.
Timescale: Offshore Company registration will take approximately 3 working days.
Annual Reporting: These companies are required to keep financial books. These must be approved by the shareholders but do not need to be filed with the Authority.
Economic Substance Reporting: Companies involved in ‘relevant activities’ in the UAE are also required to submit economic substance notifications and reports to the regulatory authority.