I decided to write this article when I've put myself in the investors' shoes and thought
"I want to start a company in UAE"
Before you start your company incorporation in Ajman Free Zone you need to ask yourself a couple of questions, we will go through one by one:
What is your business activity? Targeted customers?
You have to understand your activity commercial/trading or professional/ consulting or industrial/assembly or e-commerce. For each activity there are some certain requirements and packages.
When it comes to the targeted customers Ajman Free Zone allow doing business internationally without restrictions and locally through a local distributor. It means that retail trading is not allowed under the normal trading license, however you can trading locally on retail basis only through the e-commerce license – using an online platform for selling like: Amazon, Ebay, Souq.com…etc.
How many partners in the company?
The answer of this question will affect the legal form of the registered company either FZE for a single shareholder or FZC for 2 or more shareholders at the same time it affects the total cost of the package as for FZC company there is an extra AED 1,000/- for the MOA/AOA. The max number of partners allowed under Ajman Free Zone license is 5 partners, but in some cases it may be more depends on the amount of invested capital – subject to approval.
How many visas required?
There are 3 options of facilities provided by Ajman Free Zone:
Smart office: which is a workstation/desk-space dedicated to your company provides you with 2 visa quotas.
Executive office: which is an office-space varies on sizes and prices, provides you with 5 visa quotas.
Warehouse: which is a shed to be used for storage or industrial purposes provides you with 1 visa quota per 7 SQM.
"How to start a company in Ajman Free Zone?"
"What is the company formation process in Ajman Free Zone?"
Process of Ajman Free Zone company setup:
Trade Name & Business plan approval.
Trade Name: it’s very important to check the availability of your trade name before you start production of your stationary or your website to make sure it doesn’t conflict with an existing company or with rules and regulations of the registrar. It usually takes 10 – 15 mins to check the trade name availability; however checking the availability of the trade name doesn’t mean its booking, so the sooner you complete the registration process the more chances you get it.
Business plan: it is not required for the commercial activities but for the professional, industrial and e-commerce activities it is a must. It usually takes 1 – 2 days for approval of business plan; however, it may take longer in some cases like the industrial activities.
2. Documents Sign and Company registration.
- Once you make sure that trade name and/or business plan are approved you next step is to visit one of our offices (Head office, Dubai Office) to complete the registration process signing the legal documents and pay for the company incorporation, you are requested to bring the following documents:
o Passport Copy for owners and person in charge (Valid for at least 6 months)
o UAE Visa (Resident, Tourist, Visit) along with latest Entry Stamp to UAE.
o Passport size photograph with white background.
o Original NOC from the current sponsor if on UAE Residence Visa or Husband Visa.
Those are basic documents but in some cases, there may be some different requirements.
3. Obtain the trade license. Apply for a corporate account.
- Now you have received your legal documents which are: Trade license, lease agreement and chamber of commerce certificate. You will need to enhance your local presence by applying for your company bank account; there are wide options of banking in UAE as there are international banks as well as local banks. The process of obtaining a bank account for your company is quite the same there are slight differences for the required documents, opening balance and time-frame. The required documentation is basically as follows:
o Trade license.
o Shareholders passport copies.
o Visa Copies.
Get in Touch with me for further details.
Mobile: +971 55 6282 499