Ajman Offshore

Strategically situated at the entrance of the Arabian Gulf, Ajman Free Zone is well placed to serve the eastern and western markets to set up a business. Ajman’s proximity to Sharjah and Dubai provides easy accessibility to the two international airports and four ports. In 2014, Ajman Free Zone expanded in order to include formations of offshore international companies, often known as International Business Companies (IBC’s) located in the Emirate of Ajman.

To that end, the Ajman Free Zone Offshore Companies Regulations of 2014 (the “Ajman Offshore Regulations“) were enacted allowing the incorporation of offshore entities in the Ajman Free Zone.

Unlike any other offshore authority, Ajman has become a popular choice of jurisdiction because of its strategic office locations, minimal incorporation and operational cost and fast registration.

The salient features of an Ajman offshore company are as follows:

  • 100% foreign ownership.
  • Ajman offshore companies are not subject to any taxes or duties in the UAE.
  • Ajman offshore companies are allowed to hold a bank account in the UAE.
  • No capital deposit required.
  • Privacy and anonymity.
  • Low incorporation and operational cost.
  • Simple and flexible procedure of company establishment.

The following are the requirements of an Ajman offshore company.

Shareholders (members)
A minimum of one shareholder is required. Corporate shareholders are permitted. Shareholders meetings should be held periodically (at least once a year). Every Company shall maintain minutes of all proceedings at general meetings.

Share Capital
No minimum capital is required. All shares rank equally and must be fully paid when allotted. Share certificates must be issued within two months from the date of allotment of any of the company’s shares. Bearer shares or different classes of shares are not allowed.

Directors
Minimum of two directors are required and corporate directors are not permitted. The number of directors can be fixed in the memorandum and articles of association. Details of the director(s) are not available for public inspection.

Secretary
Every Ajman offshore company is required to have a secretary, which is appointed by the shareholders for such period as the shareholders may determine. A shareholder may be appointed as a secretary and/or a director.

Annual Account and Audits
Accounts are not required to be filed with the Ajman authority. Audited Accounts are not required, but they may be audited by auditors approved by the directors. The company shall keep such accounts and records as the directors consider necessary or desirable in order to reflect the financial position of the company.

Company Registers
All offshore companies are required to maintain the following registers:

  1. Register of shareholders;
  2. Register of directors and secretary; and
  3. Register of meetings (shareholders, directors, and committees, if any). Registers shall be open for inspection by any shareholder or director of the offshore company and/or the Registrar. If inspection is refused, the company commits an offence.

Inspection
The Registrar has the power to appoint competent inspectors to investigate the affairs of the offshore company. Upon discretion of the Registrar, inspection costs may be charged to any office bearer of the offshore company.

Incorporation Time Frame
Approximately 3 to 5 business days from the time all the required documents are submitted to the Ajman Offshore Registrar.

Restrictions on Name
Names must end with “limited”.

Activities/ Restrictions on Activities
Ajman offshore companies may engage in any lawful activity for which offshore companies may be organized under the Ajman Offshore Regulations.

Ajman offshore companies are prohibited from carrying on business with person(s) resident in the UAE. However, an Ajman offshore company shall not be treated as carrying on business with person(s) residing in the UAE by reason only that it:

  1. Makes or maintains professional contacts with legal consultants, accountants and management companies;
  2. Prepares and maintains books and records;
  3. Holds its general meetings or meetings for its directors; or
  4. Holds a bank account for the purpose of conducting its routing transactions.

In the event that an Ajman offshore company desires to carry on business either within the Ajman Free Zone or elsewhere in the UAE, the proper license should be obtained from the competent authority.

Registered Agent
The Ajman offshore company is required to appoint an approved registered agent from the list of approved Ajman Offshore Registered Agent List (Motei & Associates is an approved Ajman Offshore Registered Agent).

Required documents for individual applicant(s)

  1. Clear and legible passport copies of the shareholder(s), director(s) and secretary;
  2. CV or personal profile of the shareholder(s), director(s) and secretary;
  3. Original proof of residential address (i.e. utility bills) of the shareholder(s), director(s) and secretary;
  4. Original Bank reference letter and
  5. Power of Attorney (“POA”) in favor of Registered Agent (sample to be provided). POAs issued outside the UAE, must be legalized up to the UAE Consulate in the place of issue.

Required documents for corporate applicant(s)

  1. Certified true copies of the Incorporation Certificate;
  2. Memorandum and Articles of Association;
  3. Board Resolution calling for the establishment of an offshore company in Ajman and appointing authorized signatory, directors and secretary for said purpose (sample to be provided).
    NOTE: All the above documents must be legalized up to the UAE Consulate in the jurisdiction where the company has been incorporated.

Location Map

Location Map

Reach Us

For Initial Consultation Meeting,
Telephone: +971 4 435 5959
Fax: +971 4 435 5858
Skype: motei.office

Damac Executive Heights (TECOM)
Office No. 801, 8th Floor
P.O. Box: 112888
Dubai, UAE

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Affiliated Sites

  • The Legal 500
  • Judicare
  • Egyptian Junior Business Association
  • HG.org
  • Chartered Institute of Arbitrators (CIArb)
  • International Chamber of Commerce (ICC)
  • London Court of International Arbitration (LCIA)