Offshore company formation in Ajman was initiated in 2014. It comes under the regulations of Ajman Free Zone authority. It is a popular choice for offshore company formations as it comes with a host of benefits like zero tax structure, quick and cost-effective registration processes, the privilege to open a bank account in the UAE and worldwide, complete confidentiality about shareholders and directors, 100% capital and profit repatriation and foreign ownership. An offshore set up in Ajman can conduct multiple businesses with a single license.
The zone offers irresistible benefits for investors such as tax exemptions, 100 per cent foreign company ownership, repatriation of capital and profits and access to airport and airport services making it the most desirable Emirate for mobilising business and rousing speedy growth.
KEY FEATURES OF AN AJMAN OFFSHORE COMPANY:
• Shareholders – A minimum of one shareholder is required and corporate shareholders are permitted. International corporate shareholders are required to have all company documents attested.
- Directors – A minimum of one director is required and corporate directors are permitted.
- Secretary – Every company must have a secretary. A company director may also act as company secretary.
- Share Capital – No minimum share capital requirements.
- Annual Reporting – Every company must keep accounting records for 7 years from the date of grounding. The accounts do not however have to be filed with the RAK authorities.
KEY BENEFITS OF OPENING A AJMAN OFFSHORE COMPANY:
- 100% Foreign Ownership
- Shares in Local Companies
- Local Bank Account
- Fast Incorporation
- Shareholder/Director details can be kept private
- Invoicing on international trade
- Can act as holding company