Ajman free zone was established in 1988 and was allocated indecently in 1996 under the rules of Humaid Bin Rashid Al Naumi, the Ruler of Ajman. This offshore centre serves as an investment medium for companies and provides them the benefits of an offshore company, which includes zero taxation system and anonymity. It also provides the investors the following features:

No offices/industrial premises required

No trading within the UAE

No Chamber of Commerce registration required

No residence visa for founders and directors. Shareholders and/or directors are not automatically eligible to obtain a UAE residence visa from the offshore company opened.

No requirement for Submission of Annual Audit Report

Offshore company in Ajman can be used as a Holding company to own shares in other companies registered anywhere in the world. Offshore company can be used as a Special Power Vehicle (SPV) to execute any project. The usual method to structure a business is to register an offshore company and this offshore company will hold 100% shares of a Freezone Company in UAE. The ultimate beneficiary of Freezone company will be the owner of Offshore company though his name is not seen as the Shareholder or Director of Freezone company.

Ajman Offshore being a new offshore entity has much faster company formation process compared to other offshore centers. The company can be incorporated in just 1 working day after company name approval and complete required documents are submitted. Also, shareholders need not come to the UAE for the company formation.

The documents required for Ajman Offshore company incorporation are

• Passport copy of the shareholder/s
• Original proof of residence of the shareholder/s (can be recent telephone/electricity bill or any Bank Statement showing the address)
• Duly signed application form and Memorandum of Association
• Incorporation Fees of AED 7,500 (all inclusive)