There are several advantages of setting up businesses in Ajman including 100% foreign ownership and full profit and capital repatriation.

Kinds of Business Licenses Applicable in Ajman

Ajman provides various types of business licenses including the following:

  • National Industrial License- Businesses should have GCC (Gulf Cooperation Council) registration with ownership of 51% of shares at least. 40% of manufacturing procedures should be done in the free zone. Businesses in this category can get duty-free customs fees for member states in the Arab Gulf Cooperation Council.
  • Trading License- Trading activities covering exports, imports and re-exports require this license.
  • Industrial License- This license is given to UAE based, free zone or foreign entity executing manufacturing processes in Ajman.
  • Professional/Service License- This license is given to those foreign, UAE or free zone entities offering service or professional services in Ajman.
  • E-Commerce License- New license threshold for e-commerce companies.
  • General Maintenance License- Maintenance based businesses need this license for conducting repairs and regular inspection/maintenance.

Steps for Registration of Companies in Ajman

Here are the steps to be executed for this purpose:

  • Submission of company application form at CSCs (Customer Service Centers) in the municipality for approval initially.
  • Following up with Inspection Unit in Ajman municipality for verification of business location that has been selected.
  • Obtaining approval of specialized departments in municipality if needed.
  • Getting trade name approval and issuing business register and membership certificate.
  • Submission of approvals and receipts from Ministry of Trade as the acceptance in the Register of Companies.
  • Payment of all fees and submission of application to CSCs for obtaining receipts. It requires a day for getting company licenses accordingly.

Major Documents Needed for Company Formation in Ajman

  • Valid passport copies of shareholders of company.
  • Memorandum of association.
  • Proof of residence of company owner.
  • Bank reference letter.
  • Article of association.
  • Filled application for incorporation of offshore account.
  • Resume of offshore account owner.
  • Business plan with analysis of costs and benefits.

Authorities for specific business activity approvals

Specific approvals have to be obtained from specific authorities by business. Here’s taking a closer look:

  • Private schools, educational institutions, kindergartens, gymnasiums- Ministry of Education.
  • Organization of Omrah and Hajj campaigns, Law firms and Quran recital centers- Ministry of Justice, Islamic Affairs, and Awqaf.
  • Plant nurseries, bird trading, farms, cattle, fertilizer and seeds trading, fish trading- Ministry of Agriculture and Fisheries.
  • Labor Services, Babysitting Services- Ministry of Labor and Social Affairs.
  • Industrial Licenses- Ministry of Finance and Industry.
  • Organization of Shows/Events, Digital TV and Cable Services, Computer Trading, Advertising and Publicity Office Drawing and Scripting- Ministry of Information and Culture.
  • Hospitals, Medical Laboratories, Private Practices and Clinics, Pharmacies- Ministry of Health.
  • Foreign Company Branches, Accounts Auditing- Ministry of Economy.
  • Money Exchange and Transfer, Banks, Financial Consultancies- Central Bank.

If you’re looking for professional guidance and assistance on setting up your business in Ajman, you can consider GCC Filings which offers VAT return filing ,support with company incorporation UAE, VAT registration in UAE, auditing, accounting and more.

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