Ajman Offshore

Making your vision a reality

Located on the coast of the Arabian Gulf, Ajman offers prosperous business opportunities. From beaches and mangroves to museums and malls, Ajman city offers an exciting mix of possibilities to businessmen. Apart from it being a rapidly growing business hub, there has also been an increase in the shopping culture and other activities.

About offshore company

The formation of offshore companies became possible in 2014 after the special Ajman Free Zone Offshore Companies Regulation was adopted.

An offshore company is not obliged to file accounts with any state authorities in the UAE, however, in accordance with part 11 of the Regulations for 10 years, a company must keep documents on its economic activity to the extent that enables directors to determine the financial position of the company. Besides, directors of a company must prepare their financial statements and provide shareholders of the company with them annually.

Specialties of Offshore Companies

• An offshore company is completely tax exempt
• Shareholders of this company may be any individual(s) or legal entity(ies) (except for private funds and trusts)
• Appointment of corporate directors is not allowed
• An offshore company may have a nominee director, but no nominee shareholders
• Shares of such a company may either have or not have declared par value (in any currency)
• No requirements as to the minimum amount of share capital.

Trading licenses

Ajman Free Zone helps Foreign investors to open companies with the intention of business trading activities in the Free Zone such as Single Activity Trading, Two Activity Trading, Three Activity Trading, and General Trading (import and Export).

Ajman free zone allows establishing a business in the services industry, IT Consultancy, Management Consultancy, and Marketing among many other services.

Document required for Company Formation in Ajman Offshore

Ajman offshore company formation is a breeze provided you submit the right set of documents to the Ajman Free Zone Authority for approval. Here’s what needs to be submitted.

• Clear copy of passport
• Address proof such as a copy of utility bills, a bank reference letter with the address on it.
• KYC details of director & the secretary (investor can be the director and secretary as well)

Process for Ajman offshore company formation

Step 1 – Company name reservation
The name of your offshore company will be reserved based on the three preferred names provided by you. We will also prepare the following documents for your new offshore company- The application form for company formation and the Memorandum and Articles of Association.

Step 2 –Signing company documents
You will visit the BizExpert office to sign the company documents. If you are overseas, we will explain the process of signing the documents in your country of residence.

Step 3 – Company registration
Once the company documents have been signed by you, we will proceed with submitting the documents to Ajman Free Zone for the registration of your new Ajman offshore company. The prescribed time frame for the registration of the company at this stage is approximately 1-2 working days.

Step 4 – Bank account process
You can commence the process of opening a corporate bank account for your offshore company. The process of bank account opening may take between 5-15 days or more depending on your individual case. You will need to meet the requirements of the relevant bank in order to open your corporate bank account.

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