Offshore company formation in ajman
Ajman Offshore Company Setup
Established in 1988, Ajman Free Zone gained independent status under Emiri Decree No. 3 of 1996, courtesy of Humaid Bin Rashid Al Nuami, Ajman’s Ruler. In recent times, there has been a remarkable surge in the formation of companies in the Ajman free zone. The inception of offshore company formation in Ajman, however, occurred relatively recently, starting in 2014.
Regulated by the Ajman Free Zone Authority, Ajman Offshore Company has swiftly become a favoured option for offshore company formation. Much like other offshore jurisdictions, Ajman Offshore offers a Zero Tax Structure, ensuring confidentiality and privacy. In addition, it presents a range of distinctive benefits to investors and entrepreneurs.
Benefits Of Establishing An Ajman Offshore Company
1. Ajman Free Zone
An Internationally Respected Jurisdiction
2. Swift and Cost-Effective Registration Process
Ajman offers the UAE’s most budget-friendly free zone registration
3. Efficient Registration Timeline
Typically, the Ajman offshore company setup takes 2 to 3 working days
4. Global Banking Access
Setting up an Ajman offshore company enables you to operate bank account(s) within the UAE or internationally
5. Confidentiality Maintained
Shareholders’ and directors’ information remains private
6. Tax-Free Environment
Ajman offshore companies enjoy zero taxation
7. Ajman offshore companies enjoy zero taxation.
100% repatriation of capital and profits is permissible for Ajman offshore setups
8. Complete Foreign Ownership
Ajman company formation allows for 100% foreign ownership
9. No Physical Office Requirement
A physical office presence within the UAE is optional for an Ajman Offshore Company
10. No Minimum Paid-Up Capital
There is no obligation for paid-up share capital in Ajman offshore company formation
Ajman Offshore Company Requirements
Shareholders
A minimum of one shareholder is needed, and corporate shareholders are accepted
Capital Structure
Shareholders determine the company’s capital structure
Directors
At least two directors are required, with no provision for corporate directors
Dual Role
An individual can hold both director and shareholder positions
Secretary
An offshore company must have a secretary, who can also be a director
Physical Presence
Shareholders or authorised attorneys must be physically present to sign documents before AFZA executives
Registered Agent
An official registered agent must be appointed, with their office address serving as the Ajman Offshore Company’s address
Company Name
The company’s name must conclude with “Limited”
Property Ownership
The company can own a maximum of three properties
Business Scope
Business activities are confined to the Free Zone and cannot extend outside, including transactions within the UAE
Investment
Shareholders are allowed to invest in UAE companies
Residence Visas
UAE residence visas cannot be obtained based on the Ajman offshore company
Essential Documents For Ajman Offshore Company Formation :
To initiate the offshore incorporation process, the following documents are necessary:
- Passport copies of all company shareholders
- Copies of valid UAE Visas or Entry Stamp pages
- Original proof of residence for each shareholder
- Personal profiles (CVs) of each shareholder
- Original bank reference letters (Good Standing Letters) for each shareholder
Corporate Shareholder Criteria Include
- Corporate Shareholder criteria include the following:
- Parent company’s Incorporation Certificate
- Memorandum and Articles of Association
- Board Resolution affirming intent for Ajman Offshore company formation
- Certificate of Good Standing
- Passport copies of two (2) Directors
Permissible Activities For Ajman Offshore Company
- The permissible activities for Ajman Offshore Company are as follows:
- Holding Company Functions
- General Trading under Ajman Offshore Company
- Provision of Professional Services within Ajman Offshore Company
- International Service Operations
- Investment and Joint Investment Ventures
- Shipping and Ship Management
- Commission Agent Roles, including Intermediary Brokers (IBs)
- Advisory and Consulting Services
- Property Ownership Opportunities