United Arab Emirates (Ajman) LimitedFormation of limited by shares offshore company in Ajman Free Zone (UAE)
Ajman limited by shares offshore company is a new and popular choice for offshore company formation in a globally respected jurisdiction. Ajman Free Zone Authority offers a zero taxation system, high level of confidentiality, fast and low-cost incorporation, simplified company management and maintenance.
The company is frequently used for general trading, holding, consultancy, shipping and ship management business activities.
Recurring and maintenance fees as from second year USD 2450.
Facts & Info for United Arab Emirates (Ajman) Limited
Ajman Free Zone Authority (AFZA) has constituted a new offshore department that is regulated under the Ajman Offshore Companies Regulations of 2014 that governs international companies, conferred by the Emiri Decree No. (2), issued in the year 2014.
Ajman Offshore Company (International Business Company) does not required to rent an office or industrial premise, trading within UAE is not allowed.
Permitted Business Activities that must be carried out outside the UAE:
- General Trading
- Consulting and Advisory Services
- Holding Company (Buy/Hold/Sell stakes of companies
- Investment and Joint Investment Company
- Property Owning (subject to the respective local laws of each emirate, city and country)
- Shipping and ship management companies
- Commission Agents Company
- Intermediary Brokers (IB’s)
A Company name must necessarily end in “LIMITED” or “INCORPORATED” and must be approved by the Ajman Free Zone Authority.
MEMORANDUM AND ARTICLES OF ASSOCIATION
To register a Company, Memorandum and Articles of Association must be prepared by a licensed law practitioner and filed at the Ajman Free Zone Authority. The Memorandum specifies the activities in which the Company may engage and the Articles of Association specify the rules governing the internal management of the Company.
A minimum of one shareholder is required. Corporate shareholders and 100% foreign ownership are permitted. A single class of shares is permitted and bearer shares are not permitted. Details of shareholders should be filed with authorities, however they are not available to the public.
The minimum share capital requirement is AED 10,000.
DIRECTORS AND SECRETARY
A minimum of one director is required and corporate directors are not permitted. If a company is incorporated with one shareholder, this shareholder can be appointed as director. Details of directors should be filed with authorities, however they are not available to the public.
Every company must have a secretary, who can be of any nationality. The corporate secretary is not permitted. A director can be appointed as secretary as well.
The company must appoint an approved registered agent. The registered agent’s office in the UAE can be used as the registered office of the offshore company.
Company meetings need not be held from time to time, not necessary in the UAE.
Normally 2 working days, as soon as all the original documents are sent to the UAE office.
RECURRING AND MAINTENANCE FEE AS FROM 2ND YEAR
- Provision of registered office, address and registered agent
- Certificate of Good Standing
- Payment of annual government fee
BASIC TAX PRINCIPLES
Ajman Offshore Companies are exempt from the corporate tax, income tax and VAT.
FINANCIAL STATEMENTS AND AUDIT
Whilst there is no requirement to file audited accounts with the authorities, a company is required to prepare financial statements, which should reflect the financial position of a company.
OUR SERVICES FOR THE OFFSHORE COMPANY FORMATION IN AJMAN FREE ZONE INCLUDE:
- Name check and approval
- Filling the incorporation documents with the Registrar of Companies
- A standard set of original corporate documents
- Payment of the Government Fee
- Provision of registered agent and registered address for one year
- Rubber stamp
DOCUMENTS REQUIRED FOR THE COMPANY FORMATION
Please provide the following documents for all Directors, Shareholders, Beneficial Owners, Authorized Signatories:
- Colored copy of valid passport duly notarized.
- Original or Certified copy of utility bill / bank statement (as verification of residential address, dated within 2 months).
- Personal CV
- Original or certified copy of Banker’s reference letter (dated within 2 months).
- In cases where shareholders and/or directors are corporate bodies, full apostilled set of corporate documents and Certificate of Good Standing (for companies registered more than 1 year).
IMPORTANT NOTE: LICENSABLE BUSINESS ACTIVITIES
If you conduct any activity without required license or authorization granted by a relevant authority in any jurisdiction, Agent Legal will not be able to assist you with the company formation or bank account opening related to such unlicensed activity.
Licensable activities include, but not limited to: provision of financial services involving trading/brokerage in foreign exchange, financial and commodity-based derivative instruments and other securities; offering investment advice to public; insurance and banking business; operation and administration of collective investment schemes and mutual funds; payment processing services; money exchange, money transmission or money brokering; asset management; safe custody services; gaming, gambling and lotteries.
Please contact us if you need our assistance in licensing of your financial, Forex brokerage or gambling company.
Shipping of corporate documents or banking kits to your destination requires an extra charge and will be automatically added to the invoice during checkout. Shipping costs for international courier services are set automatically and can vary from USD 75 to USD 95. The fees depend on the jurisdiction of your ordered company, the country where the bank is based as well as your destination country.