Ajman Free zone
The most recent chance to set up a free zone business is in the city of Ajman, United Arab Emirates, and is called the Ajman Media City Free Zone or just Ajman Free Zone.The Al Nuaim tribe, renowned for their bravery, fortitude, and wisdom, moved to this area from Oman around 1775 and established the Emirate of Ajman on the western coast of the United Arab Emirates. The wise Rulers constantly fostered a variety of other related enterprises including shipbuilding, pearl diving, and trading, although Ajman’s economy historically was primarily founded on its strong maritime legacy of fishing and commerce. The largest dhow building yard in the Emirates is still in operation despite being overshadowed by more recent constructions like the massive dockyard.
The Sharjah and Dubai airports, as well as the road system, are located near to this zone, which is situated next to a harbor. Any type of business is accepted in the AFZA, from sole proprietorships to small manufacturing and trade firms. Due to its affordable rates for young entrepreneurs and various installment payment plans, Ajman Free Zone company setup is more appealing to individuals who start a new firm from scratch than business establishment in Dubai. More than 12,000 businesses are now active in AFZA.Ajman Free Zone (AFZ), which was founded in 1988, has contributed significantly to the emirate’s industrial growth by luring several businesses and providing incentives and facilities that have bolstered the trade, finance, and industrial sectors. Many businesses have prospered with significant return on investment thanks to investment rights.
Benefits of setting up a business in ajman free zone
100% ownership of establishment/company.
Easy transfer of capital and profits.
Competitive prices on facility usage.
Exemption from personal income tax.
Exemption from import and export duties.
Fast and easy procedures and in most cases, license within 24 hours.
One-stop counter service for effecting transactions (residency, visa, etc.).
Competitive prices for power/electricity.
Competitive prices on leasing
Easy access to low cost labor.
Well-developed infrastructure.
Exemption from other taxes.
100% foreign ownership.
Types of licenses
Electronic trading activities.
Service activities within the free zone such as management,
marketing, IT consultancies etc.
marketing, IT consultancies etc.
Permits for the import of raw materials, production of the listed items and export of the finished goods. The company must be registered with at least 51% ownership by citizens of GCC nations. The percentage of manufacturing that takes place in the free zone should be at least 40%. Organizations with national licenses are free from paying customs duties on shipments from GCC nations.
The business should be operated outside of the United Arab Emirates.
