Business Setup in Ajman Free Zone

In the first half of 2024 alone, Ajman Free Zone reported a jaw-dropping 70% increase in the number of companies setting up shop, with an overall occupancy rate of 96%.

If that doesn’t make you sit up and take notice, we don’t know what will.

This blog will explain why this place is such a big deal and explain how you can get your Free Zone company up and running quickly.

What is Ajman Free Zone?

Before we get into the nitty-gritty, let’s start with the basics. Ajman Free Zone (AFZ) is one of the most business-friendly free zones in the UAE. Established in 1988, it’s located in the emirate of Ajman, just a stone’s throw away from Dubai and Sharjah. It is a self-contained business ecosystem designed to attract investors, entrepreneurs, and businesses from all over the world.

It has a wide range of business activities, from trading and manufacturing to services and consultancy. It’s a one-stop shop for anyone looking to set up a Free Zone company in the UAE. And the best part? It’s known for being one of the cheapest free zones in the region, making it a top choice for startups and SMEs.

However, apart from affordability, AFZ also offers convenience. With state-of-the-art infrastructure and flexible office solutions, it’s no wonder that over 6,000 companies call this place home.

Why Ajman Free Zone? Let’s Talk Benefits

Setting up a Free Zone business in Ajman is like hitting the jackpot. Here’s why:

• Cost-Effective: As one of the cheapest free zones in the UAE, Ajman Free Zone offers affordable licensing options.
• 100% Ownership: Say goodbye to the nuisance of local sponsors. In Ajman Free Zone, you own your business entirely. 
• Tax Exemptions: No corporate or personal income taxes.
• Prime Location: Situated between Dubai and Sharjah, Ajman Free Zone gives you easy access to major ports, airports, and markets. It’s like having the best of both worlds. 
• Flexible Office Solutions: From flexi-desks to warehouses, Ajman Free Zone has got you covered. You can even opt for virtual offices if you’re not ready to commit to a physical space. 
• Quick Setup: The process is so streamlined that you can get your cheapest freezone license at the drop of a hat. 

Steps to Set Up Your Free Zone Business in Ajman

When you work with company formation experts, setting up your business in the Ajman Free Zone becomes much simpler. The entire process can be broken down into just five simple steps. Let’s walk through them together so you know exactly what to expect.

Step One: Define Your Business Activities

The first step in your Free Zone business setup journey is to outline your business activities. Ajman Free Zone (AFZ) is pretty flexible when it comes to the types of businesses it supports. It offers trading, consulting, IT services, marketing, or even manufacturing.

However, you need to list all your intended activities on your license application. Missing something here can lead to headaches later.

Step Two: Choose Your Company Name

Next up, you’ll need to pick a name for your Free Zone company. The UAE has strict naming conventions, and Ajman Free Zone is no exception.

Here’s what you need to keep in mind:

• Your company name cannot include any offensive or blasphemous language.
• Avoid references to Allah or Islam unless you’re a religious organization.
• If you want to use your name, it must be your full name.
• Finally, make sure your chosen name is available for registration.

Step Three: Apply for Your License

Now comes the most important step: applying for your cheapest free zone license.

The exact process depends on the type of business you’re setting up. Ajman Free Zone offers several options, including:

• A branch of a local or foreign company
• A Free Zone Establishment (FZE)
• A Free Zone Company (FZC)

To apply, you’ll typically need to provide:

• A passport copy with at least six months’ validity for each partner
• One colour photograph for each partner
• A No Objection Letter (NOL) from your current sponsor (if you’re a UAE resident)
• A business plan (for industrial or service licenses)

If you’re opening a branch, you might also need:

• Memorandum and Articles of Association
• Board Resolution
• Certificate of Incorporation
• Power of Attorney
• A Registration Certificate from your home country

Step Four: Apply for Visas

Once your license is approved, it’s time to sort out your visas. Ajman Free Zone keeps the process straightforward.

Here’s what you need to know:

• The number of visas you can apply for depends on your business size and license package.
• Eligibility criteria for dependents’ visas are simple and easy to meet.

Step Five: Open a Corporate Bank Account

The final step in your Free Zone business setup journey is opening a corporate bank account. This is where things can get a bit tricky, especially if you’re new to the UAE banking system.

There are plenty of local and international banks to choose from, each with its own set of requirements and criteria. A company formation expert can:

• Advise you on the best bank for your business needs.
• Arrange meetings with financial institutions on your behalf.
• Help you prepare the necessary documents to ensure a smooth application process.

And voilà! You’re all set to start your Free Zone business in Ajman. 

Ajman Free Zone vs. Dubai Free zone: What’s the Difference?

Now, you might be wondering, “Why Ajman Free Zone and not Dubai free zone?” Fair question. While Dubai is undoubtedly a global business hub, Ajman Free Zone offers some unique advantages: 

• Lower Costs: As mentioned earlier, Ajman Free Zone is one of the cheapest free zones in the UAE. 
• Less Competition: With fewer businesses compared to Dubai, you’ll have more room to grow and stand out. 
• Ease of Setup: The process is simpler and faster, making it ideal for small and medium-sized businesses. 

That said, both Free Zones have their perks, so it ultimately depends on your business needs.

Is Ajman Free Zone Right for You?

If you’re still on the fence, let me break it down for you. Ajman Free Zone is perfect if: 

• You’re a startup or SME looking for affordable options. 
• You want 100% ownership of your business. 
• You’re looking for a strategic location with easy access to major markets. 
• You want a hassle-free and quick setup process. 

On the flip side, if you’re targeting a more global audience or need a larger market presence, you might want to consider Dubai free zone. But for most entrepreneurs, Ajman Free Zone hits the sweet spot.

Set Up Your Business in Ajman Free Zone with ExpressPRO

At this point, you’re probably thinking, “This all sounds great, but where do I start?” That’s where we come in. At ExpressPRO, we specialize in helping businesses like yours set up in Ajman Free Zone and other Free Zones across the UAE.  

Setting up a Free Zone business in Ajman Free Zone is a no-brainer. With its affordable costs, strategic location, and business-friendly policies, it’s the perfect place to turn your entrepreneurial dreams into reality. With ExpressPRO by your side, the process is smoother than ever. 

So, what are you waiting for? Get in touch with us today, and let’s make it happen. After all, your success is just a Free Zone company away.