In the first place, Ajman Offshore company formation was started as late as 2014. Ajman Offshore Company is below the regulations of Ajman Free Zone Authority and since then it molded a prominent hand-picked for offshore company formation in Ajman. Just like any other offshore jurisdictions, Ajman Offshore offers a Zero Tax Structure and it’s providing confidentiality & privacy.
Although, The admissible address of the offshore shall be the address of the registered agent. Moreover, Ajman Free Zone was established in the year 1988 and was assigned an independent status under the Emiri Decree No. 3 of 1996 by Humaid Bin Rashid Al Nuaimi the Ruler of Ajman. In Recent years there is a glittering increase in the number of Ajman company formation in the free zone.
While the cost of setting up an offshore company in Ajman is inexpensive in UAE and is less time taking, the process to setup Ajman offshore company. Comparatively, Ajman offshore companies are looked upon as non-resident companies just like all other offshore companies and are not commissioned to operate/perform in UAE. Here, these companies will only get a company incorporation certificate. Ajman offshore company cannot carry business within the UAE. Notably, these shareholders are facilitated to invest in UAE companies.
However, For registering an Ajman offshore company, a director or shareholder needs to present physically in Ajman Free Zone office, along with a registered agent, and personally sign the documents there itself.
Other features of Ajman offshore formation are as:
- Additionally, there is no requirement of renting an office for Ajman
- Ajman offshore company will not permit trade within the UAE.
- Also, No registration in the Chamber of Commerce for Ajman Offshore Company
- Moreover, under the Offshore company setup, Founders and Directors won’t get residence visa.
What are the advantages of Ajman Offshore Company registration?
- Ajman Free zone is globally respected jurisdiction
- Fast and cost-effective registration process in Ajman
- Ajman offshore company setup will allow you to open or maintain bank account(s) in the UAE or worldwide
- In Ajman offshore company there is zero taxation
- For Ajman offshore setup, 100% capital and profit repatriation is allowed
- 100% foreign ownership in Ajman company formation.
- Ajman Offshore Company does not require having a physical office in the UAE
- In Ajman Offshore setup, no paid-up share capital is required
Characteristics of Offshore Company Formation in the AFZA are as follows:
Likewise, for Ajman offshore company registration there is a Minimum requirement of one shareholder. Corporate shareholders are acceptable in Ajman Offshore Company formation. Also, Shareholders will have a choice to decide the capital structure of the Ajman offshore company. Thus, A single class of shares is allowed but bearer shares are not allowed.
Identically, A minimum of two directors are required to setup Ajman Offshore Company and corporate directors are not acceptable. In short, The same shareholder(s) can also be a director of the Ajman offshore company.
All things considered, Ajman offshore company must have a secretary. And a director can act as a secretary as well.
Restrictions on Name & Activity
In addition, The name of the offshore company in Ajman must end with Limited.
However, Ajman Offshore Company must appoint an official registered agent. A registered agent’s office in the UAE will use as the registered office of the Ajman offshore company.
Although, Registration of the Ajman Offshore will take approx. 2 to 3 working days. Especially, Shareholders or their authorized attorneys should visit in person to sign documents in the presence of AFZA executives for Ajman Offshore company.
Ajman Offshore Company pays 0% taxes in UAE.
In Offshore company formation, the details of shareholders & directors will file with Ajman authorities but surely will not get public.
Ajman offshore cannot:
- Engage in activities outside the Free Zone or carry out business with persons outside the Free Zone and within UAE (however permitted to deal with companies in Ajman Free Zone)
- Have a physical office in the United Arab Emirates.
- Get UAE residence visas for shareholder
- Acquire tax residency certificate
- Also, can not own more than three properties
Documents Required For Ajman Offshore
In order to proceed with the offshore incorporation, we need the following documents:
- A passport copy of the shareholder (each) of the company.
- A valid UAE Visa or Entry Stamp page copy
- Original proof of residence for each shareholder.
- Personal profile of each shareholder (CV)
- An original bank reference letter (Good Standing Letter) for each shareholder.
Requirements for corporate shareholders are:
- Incorporation Certificate of the parent company
- Memorandum and Articles of Association
- Board Resolution stating the same about Ajman Offshore company formation
- A Certificate of Good Standing
- Passport copies of two (2) Directors
Activities allowed for Ajman offshore company formation:
- Ajman Offshore company can be a holding Company
- Ajman Offshore company – General Trading
- Professional Services in Ajman Offshore company
- International services
- Investments and Joint Investments Company
- Shipping and ship management.
- Ajman Offshore company can act as Commission agents that are Intermediary Brokers (IB’s)
- Advisory and Consulting Services
- Property-Owning (Subject to land department approval or Freehold properties)
Furthermore, MSZ provides Consultancy and PRO Services to Setup Offshore Company. We take care of all documentation and process of Ajman Offshore company formation including preparing MOA, Application form and document submission. We assist you to open a bank account within UAE.
If you are planning for Ajman Offshore company setup, and are looking for details and procedure, feel free to Contact Us.