Question 1

What is Ajman Free Zone (AFZ)?

Accepted Answer

Ajman Free Zone (AFZ) is a strategically located free trade zone in the United Arab Emirates (UAE), offering a business-friendly environment and a wide range of facilities for investors and businesses. Established in 1988, AFZ is designed to promote economic growth and foreign investment in the region.

Question 2

What are the benefits of setting up a business in Ajman Free Zone?

Accepted Answer

Some key benefits of setting up a business in AFZ include 100% foreign ownership, 100% repatriation of capital and profits, no corporate or personal income tax, competitive business setup costs, fast and easy company registration, and access to excellent infrastructure and logistics facilities.

Question 3

What types of licenses are available in Ajman Free Zone?

Accepted Answer

AFZ offers four types of licenses: Trading License, Industrial License, Service License, and E-commerce License. Each license caters to different business activities and requirements.

Question 4

What is the process of setting up a business in Ajman Free Zone?

Accepted Answer

The process typically involves selecting the appropriate license type, submitting the required documents, obtaining approvals from relevant authorities, and paying the necessary fees. AFZ authorities strive to make the process as efficient as possible, often completing registration within a few days.

Question 5

Can I obtain a residency visa when setting up a business in Ajman Free Zone?

Accepted Answer

Yes, investors and entrepreneurs can obtain residency visas for themselves and their families when setting up a business in AFZ. The number of visas depends on the size of the office space and the nature of the business.

Question 6

What are the office space options available in Ajman Free Zone?

Accepted Answer

AFZ offers a range of office space options, including smart offices, executive offices, and warehouses. These options cater to businesses of various sizes and requirements, and can be leased on a short-term or long-term basis.

Question 7

Are there any restrictions on the type of business activities allowed in Ajman Free Zone?

Accepted Answer

While AFZ supports a wide range of business activities, certain activities may be restricted or require additional approvals. It is essential to consult the AFZ authorities to determine if your proposed business activity is permitted within the free zone.

Question 8

Can I open a bank account in the UAE for my Ajman Free Zone company?

Accepted Answer

Yes, you can open a corporate bank account in the UAE for your AFZ company. Several local and international banks offer banking services tailored to the needs of free zone companies.

Question 9

What are the annual maintenance requirements for a company in Ajman Free Zone?

Accepted Answer

Companies in AFZ must comply with annual maintenance requirements, which include renewing their license, submitting audited financial statements, and maintaining up-to-date records. Non-compliance can result in penalties or fines.

Question 10

How do I close my Ajman Free Zone company?

Accepted Answer

Closing an AFZ company involves several steps, including obtaining a company liquidation certificate, settling outstanding debts and taxes, canceling visas and licenses, and submitting the necessary documents to the AFZ authorities.

Question 11

Is Ajman suitable for your business?

Accepted Answer

Ajman Free Zone is ideal for businesses seeking a fast and cost-effective setup, especially for freelancers, single-visa companies, e-commerce businesses, and those involved in import/export or stock trading. It offers affordable warehouse options, installment payment plans, and UAE Chamber of Commerce registration on the same day. Women entrepreneurs sponsoring dependents may also find Dubai Free Zones more favorable due to lower deposit requirements. However, it may not be suitable for businesses needing multiple visas, IT companies, heavy manufacturing, or those from high-risk nationalities facing visa restrictions. But, it can still be worth investing your time, money, and energy.

Question 12

How can I renew my Ajman Free Zone company license?

Accepted Answer

Ajman Free Zone company licenses must be renewed annually, with an option for multi-year renewal. The renewal cost is the same as the initial registration fee. The process can be completed remotely without the shareholder’s physical presence and takes 1-2 days. Upon renewal, you will receive a new license, renewed lease agreement, and a renewed Chamber of Commerce certificate. If your company holds visas, you must also renew the E-channel. No audit report is required for renewal.

Ajman Free Zone Company Formation Support

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