Ajman Offshore Company

FACTS & INFO

• Corporate Information

  LEGAL FORM

  The Ajman Free Zone Authority (AFZA) has constituted a new offshore department that is regulated under the Ajman Offshore Companies Regulations of 2014 governing international companies, conferred by the Emiri Decree No. (2), issued in the year 2014.

  An Ajman offshore company (international business Company) does not require rental of an office or industrial premises. Trading within the United Arab Emirates is not allowed.

  Permitted business activities that must be carried out outside the UAE:

  • General trading
  • Consulting and advisory services
  • Holding companies (buy/hold/sell stakes in companies)
  • Investment and joint investment companies
  • Property owning (subject to the respective local laws of each emirate, city and country)
  • Shipping and ship management
  • Commission agents
  • Intermediary brokers (IBs)

  COMPANY NAME

  The company name must end in “Limited” or “Incorporated” and must be approved by the AFZA.

  MEMORANDUM AND ARTICLES OF ASSOCIATION

  To register a company, the memorandum and articles of association must be prepared by a licensed law practitioner and filed in the AFZA. The memorandum specifies the activities in which the company may engage and the articles of association specify the rules governing the internal management of the company.

  SHAREHOLDERS

  A minimum of one shareholder is required. Corporate shareholders and 100% foreign ownership are permitted. A single class of shares is permitted and bearer shares are not permitted. Details of shareholders should be filed with authorities; however, they are not available to the public.

  SHARE CAPITAL

  The minimum share capital requirement is AED10,000.

  DIRECTORS AND COMPANY SECRETARY

  A minimum of one director is required and corporate directors are not permitted. If a company is incorporated with one shareholder, this shareholder can be appointed as the director. Details of directors should be filed with authorities; however, they are not available to the public.

  Every company must have a secretary, who can be of any nationality. A corporate secretary is not permitted. A director can also be appointed as the secretary.

  REGISTERED OFFICE

  The company must appoint an approved registered agent. The registered agent’s office in the UAE can be used as the registered office of the offshore company.

  MEETINGS

  Company meetings need to be held from time to time, not necessarily in the UAE.

  INCORPORATION TIME

  Two working days from receipt of the complete original documentation by the UAE office.

  RECURRING MAINTENANCE FEES

  As from the second year, there are recurring maintenance fees of $2,980. These include:

  • Recurring and maintenance fees as from second year US$2,980.
  • Provision of registered office, address and registered agent
  • Certificate of good standing
  • Payment of annual government fee

• Taxation

  TAXATION

  Ajman offshore companies are exempt from corporate tax, income tax and VAT.

  AUDIT AND ACCOUNTING

  Whilst there is no requirement to file audited accounts with the authorities, a company is required to prepare financial statements, which should reflect the financial position of the company.

• Our Services and Requirements

  OUR SERVICES INCLUDE:

  • Name check and approval
  • Filling of the incorporation documents with the registrar of companies
  • A standard set of original corporate documents
  • Payment of the government fee
  • Provision of registered agent and registered address for one year
  • Rubber stamp

  DOCUMENTS REQUIRED:

  Please provide the following documents for all directors, shareholders, beneficial owners, and authorised signatories:

  • Notarized copy of valid passport.
  • Original or Certified copy of utility bill / bank statement (as verification of residential address, dated within three months).
  • Personal CV
  • Original or certified copy of Banker’s reference letter (dated within three months).
  • In cases where shareholders and/or directors are corporate bodies, full apostilled set of corporate documents and certificate of good standing (for companies registered more than one year).

  IMPORTANT NOTE: LICENSABLE BUSINESS ACTIVITIES

  If you conduct any activity without the required license or authorisation granted by a relevant authority in any jurisdiction, New Company will not be able to assist you with the company formation or bank account opening related to such unlicensed activity.

  Licensable activities include, but are not limited to: provision of financial services involving trading/brokerage in foreign exchange, financial and commodity-based derivative instruments and other securities; offering investment advice to public; insurance and banking; operation and administration of collective investment schemes and mutual funds; payment processing services; money exchange, money transmission or money brokering; asset management; safe custody services; gaming, gambling and lotteries.

  Please contact us if you need assistance in the licensing of your financial, Forex brokerage or gambling company.

  SHIPPING COSTS

  Shipping of corporate documents or banking kits to your destination requires an extra charge and will be automatically added to your order during checkout. Shipping costs for international courier services are set automatically depending on geographic zones.