Company incorporation in Ajman

Company incorporation in Ajman

Company incorporation in Ajman has many advantages. First of all, it is not necessary that one of the founders of the firm will be a local resident: it is allowed 100% ownership by foreign citizens. Also, there is allowed a full withdrawal of funds from the received profit, there is no need to submit financial report, and the company is free from taxes. It is not required the presence of owner during the company incorporation, one can to incorporate the company remotely.

Ajman advantages as an offshore zone

Ajman is one of the emirates of the UAE. It is located on the coast of the Persian Gulf, which is located in thirty minutes from the main city of the country, Dubai. As free economic zone, Ajman began to develop since 1988, which led to the rapid region development. The opportunity to open an offshore company appeared in 2014 - and the region became one of the most profitable offshore zones in the world. There are the following advantages:

• Low price for the company registration.
• Quick registration.
• Cheap housing and low rent.
• Increased information security.
• Lack of taxation.
• Developed infrastructure, banking sector.
• Opportunity to open an account and use it to send and receive money.
• Confidentiality.

These advantages attract the attention of many business owners who plan to open an offshore company. Therefore, it is not surprising that they are interested in this offshore. There are many advantages, but there are still some limits.

Features of doing business

One of the limitations is that an offshore company does not have the right to conduct business with individuals that are inside the United Arab Emirates, but outside Ajman. In addition, on the territory of the UAE, the company can not engage in banking, insurance, trust activities, manage the money of third parties, unless a special license is obtained for this. But there are also nuances. It is believed that the company does not have cases within the United Arab Emirates outside the Anjman zone if:

• has bank account in the country that is actively used for daily financial transactions;
• works with accountants, legal advisers, directors of enterprises or with other individuals who conduct similar business in the UAE;
• maintains documentation inside the emirates;
• organizes meetings of directors inside the UAE;
• rents real estate, which it uses as an office or residence for the directors of the company;
• owns or manages real estate in the framework of investment projects approved by the free zone Ajman.

Thus, it is obvious that the rules of doing business in the UAE are quite flexible, and despite to the external strictness, they can be avoided without any problems.

For company incorporation in Ajman, it is necessary charter, register of directors. The authorities reserve the right, if necessary, to request other documents. The registration takes from 10 to 12 days. It is necessary business plan for industrial or service license. The license is valid for a year, after which it must be extended within a month. All papers must be submitted in English.

It is desirable a local office for offshore company registered in Ajaman. All official documents and appeals will be sent to the office, both from government agencies and from work. If there is no office, the documents are sent to the address of the officially registered agent in Ajman, through which the company is opened and maintained. The registrar keeps information about all registered agents. The company must report any changes to registrar.

Although the company is free from taxes, there are requirements for reporting, records of which the company should write in electronic form, so that if necessary, the data can be reproduced. The presence of these securities will help you to resolve doubtful issues that may arise from state bodies in case of suspicion of the law violation.

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