Company Formation in Ajman Free Zone
Established in 1988, the Ajman Free Zone was granted self-governing status under the Amiri decree no.3 of 1996 issued by H.H. Sheikh Humaid Bin Rashid Al Nuaimi, Ruler of Ajman. The Ajman Free Zone Authority has been named as the sole regulatory agency for this free zone. The formation of the Free Zone Authority in 1996 has cheered the industrial activity in the Free Zone. This has resulted in magnified growth in a number of companies during the last few years. Ajman Free Zone with its package of supreme advantages is broadly renowned as the entrepreneurs’ shelter today.
Strategically situated at the entrance of the Arabian Gulf, Ajman Free Zone is designed to serve both the eastern and western markets. Ajman’s proximity to Sharjah and Dubai provides easy accessibility to the two international airports and four ports. Ajman Port, serving over 1000 vessels in a year, has emerged as an important maritime focal point today.
Benefits of Ajman Free zones:
- 1. 100% foreign ownership.
- 2. Freedom to repatriate capital and income.
- 3. No personal income tax.
- 4. Full exemption from import duties.
- 5. No corporate tax.
- 6. Modern efficient communication.
- 7. State of the art infrastructure.
- 8. Shared services and synergies with other companies in the free zone.
- 9. Free Zone Company Formation is Quicker than Incorporation outside of the Free Zone.
- 10. 20 years land contract is renewable for another 20 years guaranteeing 40 years tax free operations.
- 11. No service charges and hidden charges.
CDE (Custom duty exemption in GCC counters)
Goods produced by the companies having National Industrial License in the Ajman Free Zone with 51 percent ownership for GCC nationals are eligible for “UAE Certificate of Origin” from the Ministry of Economy and Commerce in the UAE. This qualifies them for a customs duty exemption in member states of the GCC.