Indian businesses can now set up an offshore company in Ajman, UAE

Indian businesses can now set up an offshore company in Ajman, UAE

·       ‘Ajman Offshore’ offers asset management & protection, effective planning of resources

·       Offices in Ajman Free Zone, UAE, available for as low as US$ 555 per month in 24 hours

·       Over 8000 companies are registered and operating Ajman Free Zone of which 38% are of Indian ownership

·       Third phase of scalable warehouses (100 sq m) to be launched, first two phases sold out

·       20 years land contract, renewable for another 20 years (4 decades of tax-free operations)

·        E-commerce market growing rapidly, license available at most competitive price in UAE

Mumbai, November 29, 2013: Ajman Free Zone Authority (AFZA) is offering host of facilities to Indian businesses desirous of setting up their base in UAE. Over 8000 companies are registered and operating Ajman Free Zone of which 38% are of Indian ownership. These companies have already availed benefits like 100% foreign ownership, repatriation of capital and profits, no corporate tax, no personal income tax, no import & export duties, lowest lease prices and tariff, extremely low handling charges, low labor costs, easy access to workforce, single window clearances for licenses and immigration, cheap energy etc.

Ajman Free Zone Authority (AFZA) is promoting offices, scalable warehouses and land besides investment conduit in the form of Ajman Offshore amidst Indian companies. Leading chartered accountants (CA) & CA firms, tax consultants & lawyers who handle large accounts of warehouse & logistics companies, exporters, business consulting and IT service providers etc., are being appointed as consulting partners. AFZA recognizes the importance of its consulting partners and has always provided competitive compensation packages to them for client referrals.

According to His Excellency Mahmood Al Hashemi, General Manager, Ajman Free Zone, “India is the largest trading partners of UAE and Ajman Free Zone is poised to drive the existing economic cooperation even further. With a large Indian Diaspora residing in UAE and around the GCC, India and its business community is of strategic importance to us.”

“We have a streamlined bureaucracy sans any red tape. As compared to other free zones in the region, the pricing is very competitive. This world-class infrastructure at Ajman Free Zone comes with no hidden fees or service charges whatsoever. Not to forget the 20-year land contract that’s renewable for another 20 years assuring businesses of four decades of tax-free operations,” he adds. 

Mr. Rishi Somaiya, Director, Sales & Marketing, adds, “Ajman Free Zone is actually the only downtown free zone in UAE. Its proximity to airports and sea ports is of immense advantage to businesses. More importantly, there are no procedural delays – one can own an office, warehouse or land and get done with trading license (commercial license for import and export), service license, industrial license etc., in within 24 hours, or even less. For entrepreneurs & SMEs who find entry cost prohibitive, office space is available for US$ 555 per month and bigger executive offices for US$ 777 per month only (12 installments). What’s more, e-commerce transactions are surging in the region and AFZA offers e-commerce license to its customers at a price far lower than other free zones.”

“Considering the business potential in India, Ajman Free Zone recently appointed an Indian firm based in Mumbai - AFZA International Private Limited as their local marketing partner. This clearly suggests how important a market India is for the Authority as compared to other markets across the world,” added Mr. Somaiya. He also informed that the first phase of scalable warehouses is completely sold out and only a few warehouses are up for grab in the second phase. Owing to the phenomenal acceptance, AFZA is contemplating launching the third phase soon enough.

Talking about the Ajman Offshore, Mr. Nader Eldesouky, Deputy General Manager said “To enhance the bouquet of our offerings, Ajman Free Zone is launching yet another investment conduit for companies -  the Ajman Offshore. It will provide benefits of an offshore company which enables investors with their asset management, asset protection and effective financial planning of their resources. Ajman Offshore launched this month has already received a robust response”

 

Ajman Free Zone was established in 1988 by HH Sheikh Humaid Bin Rashid Al Nuaimi, the ruler of Ajman. This year, Ajman Free Zone is celebrating its 25th anniversary.