Ajman Free Zone is a long-established free zone of the UAE. It is not big, but it is valuable. The AFZ or Ajman Free Zone is one of the most progressive free zones of the UAE.
The free zone helped tremendously in the development of the industrial sector in the country after being founded in 1988. Ever since its commencement that was more than 30 years ago, this free zone is known for consistently fortifying off-shore and local businesses. The zone is also responsible for improving the businesses of investors.
Ever since the free zone became operational, it has seen rapid growth over time. It has become a leading commercial hub with business activity causing both infrastructural progress and geographical advancement. The business zone has experienced incredible growth over the period. Therefore, all those who want to excel in their business with Ajman free zone company formation can find this post helpful. Hence we are mentioning five things you need to know about Ajman Free Zone.
1. Where is the location of AFZ?
The location of Ajman Free Zone (AFZ) provides businesses with a convenient connection to both the western and eastern commercial sectors. Besides being in a strategic area, the zone has easy access to four seaports. It also links up with two international airports. The AFZ is situated near the Ajman Port. That is a frequently visited seaport by over one thousand ships each year.
Moreover, you can reach the trading focal point, after a thirty minutes drive from two following airports:
- Dubai International Airport
- Sharjah Airport.
Primary highways, like E11, link the trade zone to the other necessary metropolitan areas like Dubai, only located twelve kilometres away.
The address of the location is mentioned below:
Ajman Free Zone: Sheikh Rashid Bin Saeed Al Maktoum Street, Ajman- Ajman UAE
Work timings: Sunday to Thursday, 7:30 am to 3:30 pm, and 3:30 am to 11:30 am (GMT)
You can find out more about the Ajman free zone license from the AFZ office.
2. Categories of Business Entities at Ajman Free Zone
For setting up a large number of corporations, Ajman Free Zone Authority provides a chance to the investors to work on four types of business formats. They consist of:
1. Ajman Free Zone Company (FZC): It is a firm type with more than one shareholder.
2. Ajman Free Zone Entity (FZE): When there is one shareholder in a firm, it is known as Ajman FZE (free zone entity).
3. Branch of a Local Company(BLC): A company running in UAE can create its branch in AFZ.
4. Branch of a Foreign Company (BFC): A foreign firm is allowed to take the benefit of AFZ by its branch.
3. Why Should I Go For Ajman Free Zone Business Setup?
Free zones are very lucrative in Dubai. They provide tremendous benefits. They provide flexibility of international ownership and commercial tax benefits. However, what is so famous about the Ajman Free Zone Business Facilitation zone?
The free zone has enhanced the UAE’s business segment with its industrial advancement approach. It provides an entire range of services while enhancing them by the organized processing. Here are a few of the primary aspects why you must visit Ajman Free Zone for a business start-up in the UAE:
4. Customized Solutions for Investors and Partners
The official web platform of Ajman Free Zone mentions that the free zone has been created as a primary business location in the Gulf region, providing its service in the western and eastern commercial sectors. Therefore, the free zone offers a customized approach that is preferable by the stakeholders. Hence the zone has received international attention in this regard. The free zone is known for keeping up with its standards while being connected with the latest changes occurring in the nation.
5. The Benefits AFZ has to offer
- As a foreigner, you can completely own a business in AFZ, as a personal owner or by your registered foreign firm.
- You will have a tax free income. Moreover, you will be allowed to import merchandise inside the free zone without any duty. When you re-export these items, you will not need to pay any customs duty.
- There are warehouses available for storing your merchandise inside the free zone without any duty.
- You can do business internationally with the help of your company.
- The company you have registered with AFZA will be allowed to sell merchandise in the local markets after payment of the customs taxes, and by receiving services from a UAE-based trader.
- In case your firm is founded under the service company license, you can provide these services from within the free zone. However, there is a condition your office must be inside the free zone.
- Like any other type of free zone company, you can utilize Dubai’s seaports and airports for shipping your merchandise by registering your company in the Dubai customs department for receiving an import code.