Ajman Offshore Company Formation
Ajman Free Zone offers offshore company formation to investors and businessmen worldwide. The zone hosts a diverse community of business owners and great tax benefits, making it the perfect place to start an offshore business. Generally, an offshore enterprise is a type of business entity that provides its owners with asset protection and tax benefits.
Consider Starting an Offshore Company in Ajman, UAE if:
- You want to pay less tax and keep more of your profit.
- You need easy rules and a quick company setup.
- You want to protect your money and stay private.
- You plan to do business worldwide, not just in one country.
- You want a low-cost option with fewer yearly fees.
Companies conduct no business in the country where they are registered; rather, they act as holding companies or a middle ground for joint ventures in other countries. The Ajman Free Zone Authority (AFZA) oversees offshore business formations.
It is important to understand the process for offshore business setup formation before setting out into the market. This guide walks you through everything you need to know to avoid any complications and challenges.
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Offshore Business Activities in Ajman Free Zone
- Activities Allowed
- Activities Not Allowed
The following activities are allowed after Offshore company formation in Ajman:
- General trading
- Consulting and advisory services
- Holding company operations (buy/hold/sell stakes)
- Investment and joint investment activities
- Property ownership (subject to local laws)
- Professional services (e.g., legal, accounting)
- Commission agency and intermediary brokerage
- Intellectual property rights holding
- Registration of ships and ship management
- Trading in stock markets
The following activities are not allowed for Offshore Free Zone Companies in Ajman:
- Conducting business within the UAE
- Holding office space in the UAE
- Issuing UAE residency visas
- Engaging in banking or insurance services
- Operating in media or aviation sectors
- Establishing a branch within the UAE
Steps to Start an Offshore Company in Ajman, UAE
Choose a company name for your business. You have to submit three preferred trade names initially. Ensure the name is unique and isn’t offensive to the norms of society.
Gather the required documents, including MoA, Passport Copies, Article of Association, and the Parent company’s Certificate of Incorporation. Ensure the documents are correct and valid.
Submit the application for offshore business formation to Ajman Free Zone Authority. Provide all the required information and along with the documents.
Pay the registration fee on time. The exact amount depends on several factors. You can get a personalized quote through IBG Consultancy.
Start a bank account in the name of your company. This streamlines your financial transactions while allowing you to enjoy the benefits from the government.
Once your application is accepted, you can start your business operations. This process usually requires professional services from registered agents. Contact IBG Consultancy for a smooth and cost-effective business setup formation.
Understanding General Trading License in Dubai
Buying and selling goods
Importing and exporting products
Wholesale and retail trading
Selling items online (e-commerce)
Trading tools, equipment, and materials
Storing and delivering goods (logistics)
In simple terms, if your business involves handling different products, this license is required. It is one of the most useful and flexible licenses in Dubai.
Difference Between Mainland & Free Zone Online Business
- Mainland
- Free Zone
The mainland licenses are regulated by the Department of Economic Development (DED). It provides several benefits to online businesses. Here are some of the highlights:
- You can trade freely within the UAE market
- UAE residents and foreign investors can get government support
- Mainland partnerships may be better for the long term
Free zones are regulated by their own authority, offering many benefits to new e-commerce businesses in Dubai. Some of the highlights about free zone setup include:
- Free zones in Dubai offers 100% foreign ownership and tax benefits
- Limited to operating within the Free Zone
- License issued by Free Zone authority with simplified setup
Your Best Banking Options in the UAE
Emirates NBD
This bank started in 1963. Its one of Dubai’s oldest and largest banks. It leading in digital banking. Its strong local trust and wide service network give it a solid edge in both personal and business services.
RAKBANK
RAKBANK was founded in 1976 and focuses on helping individuals and small businesses. It offers both regular and system compliant to Islam. The bank’s strength is in simple services, e.g. fast opening, and easy loan access for startups and freelancers.
First Abu Dhabi Bank
FAB was founded in 2017 from a merger and is now the largest bank in the UAE. It offers strong financial support and global reach. FAB’s edge is in high-value services and safe, large-scale banking for professionals and growing businesses.
ADCB
Abu Dhabi Commercial Bank began in 1985. It is known for smart digital services. It focuses on saving time for users through applications and online tools. It has strong customer service and tech-based growth. Among the best for personal and corporate banking.
Emirates Islamic Bank
This bank started in 2004. It is known for blending laws of Islam with modern tools. It was the first shariah bank to launch WhatsApp banking. Its main strength is offering Shariah-compliant products with easy access and user-friendly digital support.
Benefits of Ajman Offshore Company Formation
100% foreign owned
No income tax
Easy setup
Low yearly fees
Full repatriation
Privacy secured
Global business ready
Bank account access
No office needed
Fast registration
Eligibility for Mashreq Bank Account in Dubai
- Must be 18 years or older
- Must have a valid passport
- Must have a valid UAE visa or Emirates ID
- Must show proof of income or job
- Must provide proof of address
- Must pass bank’s checks (KYC & AML)
- Business owners must show trade license
- Must meet bank’s minimum balance rules (if any)
- Must have a clean legal background
- Must agree to bank’s terms
Required Documents for Ajman Offshore Business Setup
- Passport copy of each shareholder and director
- Proof of address (e.g., utility bill or bank statement, not older than 3 months)
- Passport-size photo of each shareholder and director
- CV or professional profile of each shareholder (sometimes required)
- Preferred company name(s) for approval
- Description of proposed business activity
- Bank reference letter or personal bank statement (may be requested)
- Notarized and attested documents (if corporate shareholder involved)
- Board resolution (if another company is the shareholder)
Required Documents for Businesses
- Valid trade license
- Commercial registration certificate
- Memorandum of Association (MOA)
- Emirates ID of all signatories
- Passports of all shareholders
- Proof of operating address
- Board resolution (if applicable)
Common Mistakes & Solutions When Opening a Mashreq Account
Wrong Account Choice
Mistake: Choosing an account that does not suit your needs can cause problems later.
Solution: Check account features and pick the right type (salary, savings, etc.).
Missing Documents
Mistake: Submitting incomplete or incorrect papers can delay your application.
Solution: Double-check all documents before applying. Ask the bank for a checklist.
Ignoring Online Option
Mistake: Not using Mashreq’s app may cause extra effort and time.
Solution: Try Mashreq NEO for fast and easy online account opening.
Low Balance Maintenance
Mistake: Not maintaining required balance can lead to fines (for some accounts).
Solution: Choose zero-balance salary account if you want to avoid this issue.
Delaying First Deposit
Mistake: Not making the first deposit on time may keep your account inactive.
Solution: Deposit the required amount soon after opening the account.
Common Mistakes & Solutions When Opening a &
Mashreq Account
Wrong Account Choice
Mistake: Choosing an account that does not suit your needs can cause problems later.
Solution: Check account features and pick the right type (salary, savings, etc.).
Missing Documents
Mistake: Submitting incomplete or incorrect papers can delay your application.
Solution: Double-check all documents before applying. Ask the bank for a checklist.
Ignoring Online Option
Mistake: Not using Mashreq’s app may cause extra effort and time.
Solution: Try Mashreq NEO for fast and easy online account opening.
Why Choose Ajman Over Other UAE Offshore Zones?
Lower Costs
Ajman offshore setup costs less than Dubai and Ras Al Khaimah. You can save money on registration and renewal.
Fast Setup Process
Ajman Free Zone offers a simple and quick process. Most companies are registered in less than 10 days.
Simple Rules
There are fewer rules and paperwork compared to other offshore zones. It’s easy to understand and follow.
Direct Government Control
The Free Zone Authority in Ajman (AFZA) handles everything directly. This reduces delays and confusion.
Shareholder Confidentiality
The offshore setup in the emirate of Ajman offers the best confidentiality for shareholders, along with asset protection and tax benefits.
Business Friendly Zone
Ajman has flexible and friendly policies. You can work with clients worldwide without limits.
Offshore Company Setup Timeline in Ajman
Day 1 – 2
This period goes into choosing your company name, gathering all required documents, and submitting the full application to the Free Zone Authority in Ajman (AFZA).
Day 3 – 5
During this period, AFZA reviews your application and documents. If everything is correct, they approve and issue your certificate.
Day 6 – 10
This final period goes into opening a bank account in your company’s name. This completes your company setup. Most setups take 7–10 working days.
Account Opened
Get your account activated and ready to use, without any delays or confusion.
Simplify Setting Up an Offshore Company in Ajman Free Zone
You need business advisors with years of experience, legal knowledge, and useful networks to experience a smooth company formation process. IBG Consultancy has it all and more, including suitable visa packages for a wide range of businesses. Contact IBG Consultancy for a smooth Company Formation in the Ajman offshore jurisdiction.
Frequently Asked Questions
Do I need to be physically present to sign documents?
No, you’re not required to be physically present to sign documents for setting up an Ajman offshore enterprise. Everything can be done through a registered agent.
Can I open a UAE bank account for my offshore business?
What company types are available for new offshore setups in Ajman?
What is the address of the offshore business used for?
Can I engage in international trading through an Ajman offshore entity?
What are the features of Ajman offshore compared to others?
What is a Certificate of Good Standing and why is it important?
Is a company stamp required for offshore businesses?
What is the cost of setting up in Ajman compared to other zones?
Can I get help from professionals for the offshore business formation process?
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