- What is an Ajman offshore company?
- Benefits of Ajman offshore companies
- How to use Ajman offshore company?
- Features of a UAE offshore company in Ajman registration
- What do you need to consider when registering an offshore company in Ajman?
- Documents required for Ajman offshore company formation
- Ajman offshore company registration procedure
- How to start the registration process of an offshore company in Ajman?
We offer you to register an offshore company in Ajman free zone. Please note that this is a service for registering exactly an offshore company, not a free zone company.
You can register a company without a personal visit to the UAE.
An offshore company is a company that does not operate and does not pay taxes in the country of incorporation. Such a company is not a resident of this country.
Countries that wish to attract global business and expand their economies try to create competitive tax regimes and provide a high level of privacy. Often such countries allow the opening of offshore companies.
Offshore companies are ideal for minimizing operating costs. Individuals and legal entities, high net worth owners, international investors, property owners, and entrepreneurs open such companies for their purposes.
In 2003, the UAE also allowed offshore companies formation. After that, the Emirates quickly became the main business hub in the Middle East region. The UAE has proven to be the most dynamically developing international financial center in the world. Many individuals and international companies choose this country as a business headquarters and also as their main place of residence.
What is an Ajman offshore company?
In 2014, already prosperous Ajman free zone (located in the Emirate of Ajman, UAE) offered the possibility of registering offshore companies. Such companies here are called International Business Companies (IBC).
Due to excellent operational service practices, clear paperwork requirements, and low incorporation costs of this free zone, Ajman offshore company incorporation department has become a new attractive jurisdiction in the UAE.
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Benefits of Ajman offshore companies
Assets protection using Ajman offshore company
To protect personal assets, the simplest solution usually is to place them in a separate legal entity. And this is good both when it is just an ordinary company in your country of residence and an offshore company. But finding an offshore company and assets is much more complex so an offshore company can provide additional protection from lawsuits.
Ajman offshore company privacy and anonymity
Ajman offshore company can provide additional privacy and anonymity in business, banking transactions, and private financial investments.
Jurisdictions, such as Ajman offshore zone, hold information about company officers, shareholders, and beneficial owners in confidential registries. These records are not publicly available.
Ease of managing UAE offshore company in Ajman
Offshore company registration in this jurisdiction is quick and easy. The feature of Ajman offshore companies is quick and efficient management without unnecessary obstacles.
Tax optimization using an offshore company in Ajman free zone
Many companies and individuals can use an offshore company in Ajman jurisdiction (where there are no taxes) to reduce, delay or even eliminate the obligation to pay taxes they would otherwise have to pay. Although you will often still need to pay taxes in the country of citizenship or residence, Ajman offshore company will allow you to minimize them.
How to use Ajman offshore company?
Assets and property ownership using an offshore company in Ajman free zone
The formation of an Ajman offshore company will allow you to minimize costs associated with property acquisition. You can purchase real estate for an offshore company and, if necessary, then sell its shares to a new owner. This will allow you to speed up and simplify ownership transfer, and avoid many taxes associated with the sale of real estate.
Ajman offshore company for trading
When using Ajman offshore company, you can receive orders directly from the buyer. This order may contain instructions for the manufacturer or another seller to deliver the goods directly to the buyer. At the same time, an offshore company can accumulate the resulting profit. This pattern is widespread when the manufacturer (or seller), the acquirer, and the businessman initiating the deal are in different countries. The supplier invoices a third-party offshore company, which then invoices the buyer. As a result, an offshore company uses a higher selling price to make a profit.
Ajman offshore companies for assets protection and property management
You can use an Ajman offshore company as part of an asset protection structure that includes other structures such as an offshore trust, an offshore foundation, or two or more offshore companies from different jurisdictions. The goal is to make it more complicated for potential adversaries to find your assets and, therefore, more challenging to get a positive court ruling on those assets.
Ajman offshore company as an investment holding
You can incorporate an offshore company in Ajman free zone to own shares in other companies, real estate worldwide, bonds, commodities, or any other investment type permitted by this jurisdiction rules. You also can accumulate funds and then reinvest them around the world while maintaining anonymity and saving on taxes. Some jurisdictions may tax investments. However, other countries offer tax-free bonds and investments in the form of bank deposits that can grow over several years. In addition, many countries do not tax investment capital growth.
UAE offshore company for holding intellectual property (copyrights, royalties, patents, trademarks, etc.)
Acquisition or transfer of the right to use copyrights, patents, trademarks, and other intellectual property in favor of an offshore company often reduces tax rates for royalties payments. Typically, such royalties are taxed in the country of origin. However, you can reduce these taxes by setting up an offshore company in other countries. Tax resident companies with access to double taxation treaties often use such a pattern.
Ajman offshore company to enhance privacy
You can use an offshore to hide your assets from prying eyes. To many, this seems right, given that society is becoming more and more prone to polemics and discussions.
Ajman offshore company formation for international business and management consulting services
Ajman offshore company allows you to provide business and management consulting services while using a UAE bank account for your financial transactions.
Features of a UAE offshore company in Ajman registration
The registered agent’s office address will be the address of your new company. It will be included in the Articles of Association and the Memorandum of Association of the company.
Other significant advantages of registering an offshore company in Ajman free zone are
- Fast company registration process – all constituent documents can be issued in one business day.
- Low company registration cost.
- Complete absence of taxes.
- Full foreign ownership allowed. There are no requirements for local partners, sponsors, or local service agents. You will be able to 100% own and control your offshore company.
- Maximum privacy. Ajman offshore jurisdiction has a closed registry and does not participate in any information exchange agreements. Therefore, no external government bodies are privy to information relating to your company.
- No requirements for share capital payment. Although the minimum share capital is AED 10,000 (USD 2,730), you do not need to pay it or deposit it into a bank account.
- It is not required to keep any accounting reports and file an annual audit.
- No need to rent an office.
- UAE jurisdiction is trusted in the world. The Emirates is a politically and financially stable country, unlike many offshore jurisdictions. The UAE is not on the OECD and FATF black lists.
Permitted activities for Ajman offshore companies
The company can carry out the following activities:
- general trading;
- consulting services;
- holding company activities (purchasing, ownership, and sale of companies shares);
- investment company activities;
- property ownership (subject to the relevant local laws of each emirate or country in the whole);
- cargo transportation and management;
- commission agent activities.
An offshore company can carry out all these activities only outside the UAE, except for holding company activities and cases when such activities are permitted.
Ajman offshore company shareholders
Shareholders can be individuals and legal entities.
Ajman offshore company directors
The same person can be a company director, shareholder, and secretary.
A corporate director is not allowed.
The company must have at least two directors.
Opening UAE bank account
There are two banks in the UAE that currently open accounts for offshore companies:
- Emirates NBD. This bank requires at least 500,000 (USD 136,250) as an average monthly account balance for the first 3-4 months. Then you can reduce the balance to AED 200,000 (USD 54,500).
- Mashreq Bank. This bank requires at least 150,000 (USD 40,900) as an average monthly account balance. In addition, the company owner must confirm that they have a similar business in their country of residence.
What do you need to consider when registering an offshore company in Ajman?
An Ajman offshore company does not allow obtaining UAE visas. If you are interested in UAE tax residency, you can read about it here in detail.
Ajman offshore is not a resident company. Therefore, it cannot obtain a tax residency certificate and cannot benefit from double taxation treaties.
A company can use only one class of shares. Bearer shares are not permitted.
The name of a company must end with the word Limited.
An offshore company can own real estate in the UAE (with the Land Department permission).
Residents of Iran, Iraq, or Israel, and those born in these countries, cannot register a company.
Company owners must understand and comply with the anti-money laundering standards set by Ajman free zone. Violators of these standards may be held liable by the decision of the relevant departments.
Documents required for Ajman offshore company formation
For individual founders:
- Passport copies of proposed shareholders, directors, and a secretary (with the UAE visa page if possible). The client will need to provide the original passport. If the applicant is not in the UAE, a notarized passport copy is required. Passports must be valid for at least six months more.
- The original bank reference letter (not older than three months). We are ready to provide a template for such a letter.
- Original utility bill (not older than three months). This is necessary to confirm the permanent address of residence. Instead, you can provide a personal bank account statement showing a valid residence address.
For legal entities:
- Parent company certificate of incorporation or business license (legalized).
- Parent company Good Standing certificate if it exists for more than a year (legalized).
- Parent company Memorandum and Articles of Association (legalized).
- Board decision on registering a new offshore company in Ajman, signed by all owners (legalized).
- Representative’s passport copy. It will be necessary to provide the original passport. If the applicant is not in the UAE, a notarized passport copy is required.
- Passport copies of proposed shareholders, directors, and a secretary. The client will need to provide the original passport. If the applicant is not in the UAE, a notarized passport copy is required. Passports must be valid for at least six months more.
- A power of attorney authorizing a representative or a third party to sign constituent documents (legalized).
- Owners and directors list certified by the registrar (legalized), or
- Original certificate of officers’ authority from the parent company registrar.
Legalized documents are documents with an apostille or notarization. Also, the UAE Embassy in their country of origin must certify them.
Ajman offshore company registration procedure
- First working day – signing and submitting application forms and related documents.
- Third working day – the original company documents are ready. From this moment, you can start the business activities of your company.
- Fourth working day – issuance of original documents and company seal.
Cost of registering a UAE offshore company in Ajman free zone
|Our assistance in Ajman offshore company registration||From USD 2,500 (AED 9,125)|
|Company renewal for a year||USD 2,000 (AED 7,340)|
|Our assistance in constituent documents amending||USD 1,510 (AED 5,500)|
|Our assistance in company closure||USD 1,645 (AED 6,000)|
How to start the registration process of an offshore company in Ajman?
To start the registration process, contact our specialists at email@example.com, and you will receive professional assistance in the company formation.
Then you will need to pay our assistance fee for registering an offshore company in Ajman free zone.
You can make payment by bank card or bank transaction, via WebMoney or Western Union systems, or using cryptocurrencies.
This service cost starts from 3600 USD.
This price does not include government fees or any additional services cost.
Immediately after payment, we begin to collect the documents necessary for company registration.
The average time for opening a company is three business days.
Contact us at the above address to open a UAE offshore company in Ajman free zone.