Setup Business in UAE Blog

Ajman Free Zone (AFZ)

EMIRATE OF AJMAN

The Emirate of Ajman, located on the western coast of United Arab Emirates was formed by the Al Nuaim tribe, well known for their bravery, courage and wisdom who migrated to this region from Oman around 1775. The economy of Ajman in the past was mainly based on its strong maritime tradition - fishing and trade, though the wise Rulers always encouraged various other allied activities such as shipbuilding, pearl diving and trading. Its dhow building yard is the largest in the Emirates and continues to operate despite being dwarfed by modern developments such as the major dockyard.

Established in 1988, Ajman Free Zone (AFZ) has led to a huge industrial development in the emirate by attracting various number of companies, offering competitive privileges and facilities which strengthened the industry, trade and the financial sectors. By benefiting from investment privileges, many companies have thrived with considerable return on their investment.

Mission:

“Ajman Free Zone encourage investing capitals, and provide the appropriate climate for such investment, by way of contributing in drawing up the general policies and providing information, preparing studies, executing projects, organizing expositions and conferences, and other constructive activities, and by the help of national efforts and qualified human cadres, who contribute in achieving the economic growth and the welfare of Ajman's Society and that of the United Arab Emirates”.

Business facilities:

  • 100% ownership of establishment/company.
  • 100% foreign ownership.
  • Easy transfer of capital and profits.
  • Exemption from personal income tax.
  • Exemption from import and export duties.
  • Exemption from other taxes.
  • Competitive prices on facility usage.
  • Competitive prices for power/electricity.
  • Competitive prices on leasing.
  • Easy access to low cost labor.
  • Well-developed infrastructure.
  • One-stop counter service for effecting transactions (residency, visa, etc.).
  • Fast and easy procedures and in most cases, license within 24 hours.

Types of licenses provided:

  1. Business Licenses.
  2. E-Commerce Licenses: electronic trading activities.
  3. Service Licenses: service activities within the free zone such as management, marketing, IT consultancies etc.
  4. Industrial Licenses:

    • The organization should be registered with GCC countries’ nationals owning minimum of 51%.
    • Minimum 40% of the manufacturing process should be within the Free Zone.
    • Organizations having national license qualified to get the license are exempt from customs fees on exports from GCC countries.
  5. Offshore Licenses: the company should run its business outside the UAE.

UAE Freezones | 👁 943 | Posted April 9, 2018 | Share on Facebook | Twitter | Google+

| Modified: April 9, 2018 | Author:

Popular