A company, group of enthusiastic individuals or sometimes a division thereof, which desires to engage itself in offshoring business processes often find UAE as the best choice. International Business Companies (IBCs) or other kinds of legal entities, that are incorporated under various provision of the laws and jurisdiction of Ajman get a wide range of benefits including the opportunity to work with complete freedom.
Advantages of setting up an offshore company in Ajman
- 100% ownership for foreign nationals
- Complete repatriation of capital and gains
- Cost of setting up an offshore company is low
- No requirement of renting an office space or industrial place.
- Annual audit is not mandatory
- No compulsion on paid-up share capital
- Easy and applicant-friendly registration process
- Offshore companies registered in Ajman can sell or buy property.
Documents required for offshore Company formation in Ajman
- A copy of the passport of the representative or manager of the company, valid for at least 6 months.
- Copy of Entry visa stamp (or) entry visa copy (or) residence visa copy (or) cancelled visa documentation (whichever is applicable).
- 8 colour passport size photographs of the applicant with white in the background
- Registration Certificate issued by the competent authority of the country where the company is originally registered.
- A copy of the contract of association of the company
- A copy of the resolution issued by the competent authority permitting the company to carry out activities in the Free Zone
- Copy of a duly attested Power of Attorney (PoA), appointing a representative or a manager.
- A 2-page synopsis of the business plan for professional or e-commerce license or 1 paragraph describing the nature of the business it is involved in commercial trading or general trading.
- Application Form
The process is extremely simple and easy. The above mentioned documents are required to be submitted to the authorities and, if there is no problem in the documents then the authorities would give clearance within a day or two, and you will have your offshore company registered in Ajman Free Zone.
Permitted activities under the Ajman Offshore Company Formation
- General Trading
- Professional Services
- Holding Stakes in other companies
- Making investments and Joint Investment in various companies
- Carrying out advisory or consultancy Services
- Hiring commission agents and brokers