If you want to take your business international or protect your business assets and intellectual property, offshore company registration is the best choice for you. If you need to grow in the UAE, an Ajman offshore company might be the most cost-effective and beneficial option for you.
Managed under the Ajman Free Zone Authority, (AFZA) Ajman’s offshore jurisdiction is known for a quick setup, low cost, best privacy protections, and 100% foreign ownership with no need for any physical office.
In this post, we will help you understand the process of registering an Ajman offshore company in the UAE, including the documents you need and the cost. If you need assistance from a registered expert, 365 Day PRO Services is here to help.
What Is An Offshore Company In The UAE?
An Offshore Company in the UAE is a legal business entity registered in the UAE to conduct international business activities. An offshore company can not conduct business in the local market of the UAE in the same way that mainland or free zone companies do. Instead, it can trade across borders, own assets, manage investments, and protect wealth anywhere in the world.
The UAE recognises three primary offshore jurisdictions:
- Ajman Free Zone Authority (AFZA) in Ajman
- RAK International Corporate Centre (RAK ICC) in Ras Al Khaimah
- Jebel Ali Free Zone Authority (JAFZA) in Dubai
It is important to remember that the offshore business company structure is designed for legitimate international business activities, asset protection, and wealth management, and not for tax evasion.
Why Choose Ajman For Offshore Company Setup?
The following are a few reasons why Ajman is one of the best choices for offshore company registration in the UAE.
100% Ownership
Investors of any nationality can own 100% of their Ajman offshore company. There is no requirement to have a UAE national partner or local sponsor.
Strong Confidentiality & Asset Protection
The Ajman offshore company formation is well known for maintaining privacy. The names of all the shareholders and directors aren’t made public. Additionally, all your assets registered within the Ajman jurisdiction are protected from the regulations in your home country.
Lower Setup Cost
The Ajman offshore company setup is one of the most affordable ones in the UAE. In comparison to the RAK ICC and JAFZA, Ajman Free Zone is preferred by cost-conscious investors without risking privacy.
Fast Incorporation Time
Once all documents are submitted and the compliance review is complete, an Ajman offshore company can be incorporated in as little as 1 to 3 working days.
No Need To Lease An Office
There is no obligation to lease or maintain a physical office space in Ajman. You can operate the company without stepping into the UAE.
Documents Required For Ajman Offshore Company Setup
Submitting the right documents speeds up your application process significantly. So, the following are the documents that you must submit with your application form for offshore company registration in Ajman.
For individual shareholders and directors:
- Passport copy
- Passport-size photograph
- Proof of residential address (like latest utility bill or bank statement)
- Original bank reference letter
- CV or personal profile of each shareholder
For corporate shareholders:
- Certificate of Incorporation of the parent company
- Memorandum and Articles of Association (MOA and AOA) of the parent company
- Board Resolution authorizing the formation of the Ajman offshore company
- Passport copies of the directors
- Ownership chart of the parent company
All foreign documents submitted as part of the Ajman offshore company registration process may need to be notarised and apostilled, depending on the country of origin. 365 Day PRO Service can help you gather all the documents to ensure that your application processes smoothly.
Step-By-Step Guide For Ajman Offshore Company Formation
The following is a complete guide for registering an Ajman offshore company:
Hire An Authorized Licensed Registered Agent
All Ajman offshore company applications must be submitted through an authorized registered agent. The agent acts as the legal intermediary between you and the Ajman Free Zone Authority.
This agent will guide you through the process of getting the incorporation certificate and even help you to set up a bank account. Contact us to have an authorized agent take care of the paperwork to register your offshore company in Ajman.
Define Business Activities And Company Structure
Before you start the official process, you must define your business activities and company structure. This is important to fill out the necessary forms and provide the right documents. These decisions also affect the regulations that you must follow.
Therefore, identify accurate business activities that you will conduct through the offshore company, define the business structure, and appoint a director and company assistant.
Register Your Business Name With Ajman Authority
The next step is to create a business name and get it registered with the authority. This ensures that your business name remains protected throughout the process and avoids name duplication.
The following are a few criteria to follow when naming your company:
- It must be unique and shouldn’t match any registered offshore company
- Must end with the word ‘Limited’ or ‘Ltd’
- The name must not contain restricted or sensitive words
- The name must not promote any religion or illegal business activity
Gather The Documents For Registration
Your registered agent will provide you with a precise checklist tailored to your specific shareholder structure. All the documents can be signed and couriered without your presence in the UAE.
Due Diligence For Each Shareholder & Director
Ajman authorities are required to conduct a thorough due diligence for every shareholder and director. This process is important to identify the individual and ensure that they aren’t involved in illegal activity. Here, your name, address, and bank reference letters will be cross-checked.
Issuance Of Offshore Company Certificate
Once your application is reviewed, approved, and the registration fees are settled, the Ajman Free Zone Authority issues your Certificate of Incorporation. This is the primary legal document confirming the existence of your offshore company under UAE law. This whole process might take 2-3 days.
Open A Corporate Bank Account
Once you have the incorporation certificate, you can open a business bank account at authorized banks. A UAE corporate bank account gives a credible image to your offshore company and lets you deal with global partners, take in payments, and handle international funds.
365 Day PRO Services can help you with offshore company registration as well as opening a bank account in the UAE. Contact us to learn how.
What Is The Ajman Offshore Setup Cost?
The following are components of Ajman offshore company setup cost:
- Registration and licensing fees
- Registered agent fees
- Legal charges for MOA and AOA
- Document attestation charges
- Bank account opening charges
- Renewal fees
A rough cost estimate for Ajman offshore company registration can start from AED 7,500 and can be more than AED 20,000. Contact 365 Day PRO Services for Ajman offshore company formation at an affordable rate without compromising speed or accuracy.
Conclusion
Setting up an Ajman offshore company is one of the most affordable ways to establish an internationally recognized business structure in the UAE. Ajman is the best place to set up an offshore company because they offer 100% ownership rights, tax benefits, asset protections and more. Our authorized agent will assist you with the process of registering an offshore company in Ajman. Get the best offshore company formation services in the UAE at perfect prices. Contact us to know more.
FAQs
How to open an offshore company in the UAE?
The following steps can help you open an offshore company in the UAE:
- Choose business activity and company structure
- Choose the right jurisdiction
- Register your trade name ASAP
- Submit all the documents for due diligence
- Wait for due diligence
- Pay the registration fees
- Get the certificate of incorporation
How long does it take to start an offshore company in the UAE?
For an Ajman offshore company in particular, incorporation usually takes 1 to 3 working days after all required documents are properly submitted, due diligence is cleared and payment is confirmed.
How much money is required to start an offshore company in the UAE?
Pricing of offshore business registration depends on license fees, service package, company structure, and other services such as support in opening a bank account or nominee services. The estimated price is between AED 7,500 and AED 20,000 and up.
Do I need to renew my offshore company certificate in the UAE?
Yes, you have to renew the certificate of the offshore company every year. You have to pay renewal fees and may have to submit financial reports for an audit.