Ajman Free Zone Authority (AFZA) Offshore: A Comprehensive Guide

Foreign investors seeking to establish an offshore company in the United Arab Emirates (UAE) should consider Ajman as a prime choice. The Ajman company formation process offers a plethora of advantages such as zero taxation, complete ownership, a broad spectrum of activities, minimal reporting requirements, and the liberty to choose high-risk activities, including financial services.

The Regulatory Authority for Ajman Offshore

The Ajman Free Zone Authority (AFZA) is the governing body that oversees the process of Ajman offshore company formation. Established in 1988, AFZA began offering offshore company formation services in 2014. Strategically located in Ajman, the free zone authority provides easy connectivity via land, air, and sea. Its close proximity to investment hubs like Dubai and Abu Dhabi is an added benefit for investors. Moreover, Ajman is one of the most cost-effective emirates in the UAE, making it an attractive destination for foreign businesses.

Types of Activities Permitted

Ajman offshore company formation is particularly appealing to foreign investors due to the unique activities sanctioned by the authority. Unlike other offshore registries in the UAE, foreign investors can opt for high-risk activities as well. The approval process for such activities is not overly burdensome. Here are some of the activities foreign investors are permitted to conduct:

  • Credit & Finance Bank
  • Currencies & Monetary Broker
  • Financial Advisory Services
  • Financial Instruments Bidding
  • Financial Investments
  • Financial Investment Consultancies
  • Brokerage Services for Crude Oil and Oil Commodities Trade Transactions
  • Commodities Trading
  • Commodity Exchange Portfolio Management

Key Features of Ajman Offshore Company Formation

Ajman offshore company formation comes with several notable features:

Director Requirements

The Ajman Authority requires investors to appoint at least one director for the offshore company, with a maximum limit of five directors. However, a corporate entity cannot serve as a director. An individual can simultaneously serve as the shareholder and director of the offshore company registered in Ajman.

Shareholder Requirements

Shareholders of Ajman offshore companies have the freedom to decide the authorised share capital of the company. They are also permitted to invest in other companies established in the UAE.

Secretary Appointment

Ajman offshore companies must appoint a secretary to handle the secretarial and administrative obligations of the entity. A director can also assume the role of the secretary.

Registered Agents

Investors can establish offshore companies in Ajman through registered agents. These agents can guide investors through all the steps of company incorporation and administrative requirements.

Registered Office Requirements

Investors must provide a physical office address to establish an offshore company in Ajman. The office address of the UAE registered agents can be used as the company’s registered address.

Activity Restrictions

Generally, no offshore entity is permitted to conduct any business activities in the UAE. Ajman offshore companies must adhere to this rule.

Trade License

While a Free zone or mainland company in the UAE operates with a trade license, UAE offshore companies are issued a certificate of incorporation.

Bank Account Opening

Opening a corporate bank account in the UAE under Ajman offshore is relatively straightforward due to the less stringent reporting requirements. Ajman offshore enjoys a good reputation among banks and business circles, which facilitates the process.

Need Assistance?

PW offers comprehensive services covering essential requirements such as visa processing, document drafting, government liaising, bank account opening, and more. Our team of business setup consultants, PRO service executives, and compliance advisers ensures a hassle-free company incorporation process in Ajman Offshore

Umair Ahmad

Company Formation Specialist
  • +971 56 403 8600
  • info@privatewolf.ae
  • 06, 11B Happiness Street, CityWalk, Dubai