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Ajman Offshore Company Setup
Registration Period
10 daysAjman Free Zone is one of the three territories in the UAE where an offshore company can be formed, the other two being Ras Al Khaimah and Dubai. Ajman offshore company registration became possible in 2014 after the adoption of a special Ajman Offshore Companies Regulation.
An AFZ offshore company is quite popular among investors and entrepreneurs, offering them multiple advantages such as zero taxation, no filing of financial statements. AFZ further guarantees privacy and confidentiality, critical factors for many business owners aiming to safeguard their operational details.
Offshore companies are normally used for international trading, transport operations, international services, consulting, or to hold property, or as holding companies. This diversity ensures AFZ serves as a versatile platform, catering to both large-scale enterprises and small to medium-sized businesses.
The process of establishing an offshore company in Ajman is renowned for its simplicity and efficiency. Many investors rely on the expertise of professional intermediaries to navigate them through the company setup process and make the task of launching a business easier. This approach allows business owners to focus on their ventures and let specialists like ITA Business Consultants take care of administrative matters.
Key Specifics of an Ajman Offshore Company
Tax
offshore company is completely tax exempt
Shareholder
Shareholders of this company may be any individual(s) or legal entity(ies) (except for private funds and trusts)
Director
Appointment of corporate directors is not allowed
Nominee
Offshore company may have a nominee director, but no nominee shareholders
Shares
Shares of such a company may either have or not have declared par value (in any currency)
Share capital
No requirements as to the minimum amount of share capital
Benefits of Registering an Offshore Company in UAE Jurisdiction
100% foreign ownership permitted
Account opening at UAE and overseas banks
No requirement to have an office
No import and export duties
The UAE is not on the OECD or FATF tax haven lists
Affordable company incorporation and reasonable administration costs
No requirement to submit an annual audit report
100% repatriation of capital and profits
Developed business infrastructure
No minimum paid-up share capital
No taxation and no reporting
AFZ is a relatively new, but already rather popular jurisdiction for business
Possibility to do business all over the world (to the exclusion of the UAE)
No director and shareholder information in official registries
Offshore Company Activities in Ajman
Activities allowed
Activities not permitted
- International trade
- Brokerage activities
- Intellectual Property rights holding
- Property holding in Ajma
- Online advertising activities
- Consultancy
- Registration of ships
- Trading in stock markets
- Any business within the United Arab Emirates
- Banking, trust, insurance and reinsurance activities, management of third party funds are prohibited unless a special license is granted to carry on these activities
Ajman Offshore Company Requirements
Shares of a company may either have or not have declared par value (in any currency).
The Regulations do not contain any requirements as to the minimum amount of share capital.
Any individuals over 18 years old who have not been declared bankrupt or disqualified may become directors of a company. A legal entity cannot be appointed as director.
An offshore company must have a local registered agent whose data is entered in the Memorandum of Association.
An offshore company has no obligations 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 documentation on its economic activity to the extent that enables directors to determine the financial position of the company.
A company may have a nominee director, but nominee shareholders are not allowed.
The register of shareholders and directors of an offshore company is not available to third persons.
Offshore companies are completely exempted from taxes in the territory of the UAE, but they may not conduct business in the Emirates.
An offshore company, unlike a resident company, may not be used to obtain visas for its employees or directors.
Any individuals or legal entities (except for private funds and trusts) may be shareholders of a company irrespective of irrespective of their residence or citizenship / country of incorporation, and the company is not required to have local shareholders.
Shareholders or authorized attorneys must be physically present to sign documents.
Required Documents to Incorporate a Company in AFZ
The following information and documents have to be provided in order to incorporate a company*:
- 01
Details of the structure and activity of the company (in a free form, based on a description of activity a business plan is drafted, which has to be approved by the Registrar at incorporation of the company)
- 02
Copy of passport of each director and shareholder of the company
- 03
Document confirming the residential address of each director and shareholder of the company (it can be cell phone, gas, electric power, water receipt, etc., but it must contain the current address and full name)
* The documents must not be older than 3 months.
Ajman Offshore Company Corporate Shareholder Requirements
Corporate Shareholder requirements include the following:
- Certificate of Incorporation of the Parent Company
- Memorandum and Articles of Association
- Board Resolution Affirming Intent for Ajman Offshore Company Formation
- Certificate of Good Standing
- Passport Copies of Directors
Ajman Offshore Company Registration Procedure
- 01
Choose a company name (or better, several names) to be checked for availability (at least 2 names)
- 02
Define a company structure (director, shareholders, and manager)
- 03
Define the company’s types of activity
- 04
Provide documents for directors / shareholders / attorneys (either originals or notarized copies)
- 05
Pay all the necessary fees
- 06
Sign the corporate documents
- 07
Get the originals and the company seal
- 08
Open your corporate bank account
Banks:
Why Choose ITA Business Consultants to Setup Business in Ajman
- We specialize in providing professional advice on establishing offshore companies (and not only these) in and outside the UAE.
- Our consultants expertly handle the entire registration process and further administration of the company (including tax advice, financial statements and audit).
- We help obtain UAE business licenses and visas, communicate with government authorities in various free zones.
- We assist with opening corporate and personal bank accounts, including pre-approval (15 banks in the UAE alone).
- We protect our clients’ data and privacy.
FAQ
The activities of Ajman offshore companies are governed in accordance with the Ajman Offshore Companies Regulations of 2014, approved by Emiri Decree No. (2), 2014.
An Ajman offshore company can only be registered through a registered agent in Ajman Free Zone (AFZ).
The UAE offers a full range of banking services from local and international banks. An offshore company registered in Ajman can open accounts in these banks within the jurisdiction.
There are no legally established minimum share capital requirements for an offshore company in Ajman. Any amount can be stated in the Memorandum of Association. Additionally, there is no requirement to deposit the share capital into a bank account during or after registration.
An offshore company is not obliged to submit reports to any government authorities in the UAE. However, under section 11 of the Regulation, the company must retain records of its business activities for 10 years to enable directors to assess the company’s financial position. Moreover, company directors must prepare and present financial statements to the company shareholders annually.
An offshore company in Ajman is restricted from conducting any commercial activities within the UAE, cannot issue UAE visas for its employees, and is not allowed to rent office space within the country.
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*The listed price does not include the state fees charged by the state authority for company registration in Ajman.
**The cost of renewal of a company starting from the second year after the incorporation is AED 9 180. The listed price does not include the state fees charged by the state authority for company registration.