The Ajman Free Zone offers a slew of services that make running a business here a pleasurable experience as well as a profitable one.
Ajman is the smallest of the seven emirates and is centrally located on the western coast of the UAE. The emirate has a pleasant blend of old and new, the simple and sophisticated. The Ajman Free Zone is strategically located, being close to the major commercial cities of the UAE and provides excellent access to the other emirates.
It's 12 kilometres from Dubai and just two kilometres from Sharjah. Strategically situated at the entrance to the Arabian Gulf, Ajman Free Zone is well placed to serve the eastern and western markets. Its proximity to Sharjah and Dubai provides easy accessibility to the two international airports and four ports.
Ajman Port, serving over 1,000 vessels in a year, has emerged as an important maritime focal point today. It has 12 berths. A massive development plan for Ajman Ports, under progress, seeks to enhance its facilities to global levels in the near future.
History
Ajman Free Zone, established in 1988, was granted autonomous status under Emiri decree no.3 of 1996 issued by His Highness Shaikh Humaid Bin Rashid Al Nuaimi, Member of the Supreme Council and Ruler of Ajman. The Ajman Free Zone Authority has been named the sole regulatory agency for free zones in the emirate.
Details
The formation of the Free Zone Authority in 1996 has given great impetus to industrial activity in the Free Zone, resulting in a quadruple growth in the number of companies during the last few years. Ajman Free Zone with its package of unbeatable advantages is widely recognised as an entrepreneur's haven today.
A massive multi-million dirham development plan is in progress at the Free Zone, which on completion will be able to accommodate 600 companies. The free zone follows an open and free business policy without any restrictions on competition. There is no personal income tax or corporate tax applied to individuals or companies.
However, the free zone does not provide financing services for projects. But banks and financial institutions do provide their services to companies operating within the free zone if the required permission is obtained. Rents cannot be shared between any two firms.
However, an individual can choose to be partner in more than one business proposition operating out of the free zone. There are no restrictions on the foreigner's exclusive proprietorship. Companies may recruit staff from nationalities of their choice.
The staff shall be accommodated in residential complexes inside the free zone, but will not be allowed to reside in the factory or store premises.
A branch or a representation setup of an existing company can be opened. A certificate of origin for the goods claiming that the goods are manufactured in the free zone can be obtained if 40 per cent of the production cycle is completed in the free zone itself.
The Ajman Free Zone licence is valid for one year and renewed annually if the investor has a valid tenancy contract and has paid all the dues.
The validity period for the residence visa is three years. The individual's family is allowed to stay in the UAE after following the official immigration procedures. The family members will be allowed to work after obtaining residence visas.
Services
The Ajman Free Zone offers a slew of services that makes running a business here a pleasurable experience and a profitable one.
This includes licence renewal, cancellation or change in licence information, adding or removal of a partner, changing an activity, transfer of ownership/relinquishment, changing the company name or a change in location, change of the manager and a change in signature.
- Courtesy: www.ajmanfreezone.gov.ae
