Guide to Business Set up in Ajman Media City
Guide to Business Set up in Ajman Media City
Ajman Media City free zone is a relatively new formed free zone that provides complete media and digital facilities in the United Arab Emirates by corresponding to the professional mindset of individual investors and setups. The Ajman Media City free zone (AMCFZ) is located in Ajman City. Ajman Media City has state of the art telecom, communication links, best digital customer service and offers immense benefits to investors willing to initiate business in Ajman Media City free zone. Ajman media city provides extremely competitive business environment,. The AMCFZ offers a reliable and compatible professional environment which provides a strong base for investor’s ambitions and helps rapid growth of the business.
The AMCFZ is developed as a user-friendly and cost effective zone, which intends on making Ajman as one of the best economic destinations for all the investors from all over the globe.
If you intend to commence business in the UAE, then Ajman media city is the most suitable destination to start a fresh media related venture. The Ajman media city free zone offers a low cost and highly beneficial way to set up a business in the UAE. As it offers 0% personal and corporate income tax, 100% exemption from customs tax and unlike other countries, UAE free zone business owners also have complete freedom to repatriate all capital and profits invested. And finally there is no foreign exchange controls or any currency restrictions involved.
In UAE each free zone offers a set of its own unique benefits. Ajman Media City Freezone (AMCFZ) is one such example where apart from the above benefits mentioned, companies setting up in AMCFZ can also benefit from Ajman’s state of the art infrastructure as well as the free zone’s cost effective start-up and low barriers to entry.
Ajman is not the preferred option that comes to mind when many of us think of the UAE. However, the emirate of Ajman has a lot of benefits to offer and therefore is among the best free zones as place to conduct business in.
Ajman free zone was established in 2001 and welcomes international investors from the entire world. The emirate is generally suited to companies that are indulged in import and export industry as it is linked by land, air, and sea.
Ajman also has access to two international airport , the Dubai International Airport and Sharjah Airport and has four major seaports , the Ajman Port, Port Khalid, Port Rashid, and Khorfakkan Port and that is why Ajman most suitable destination for investors who wants to conduct business with Qatar, Saudi Arabia, Oman, Iran, Bahrain, Europe, and Kuwait.
Why choose to set up business in Ajman Media City?
The Ajman Media City free zone is by far the most flourishing free zone in UAE and the reason being its low cost pricing and thorough facilities. The AMCFZ is dedicated to deliver innovative solutions, services and features for the potential investors. Free zone authorities Ajman is now becoming leader in innovation and start-up environment in UAE.
Recently the AMCFZ has imported the idea of first digital free zone and is providing convenience, speed, and quality of service to the investor with user friendly, cost-effective packages for new business owners. In addition, to the 360-degree digital customer experience consisted with a wide range of online and mobile tools that entrust the business investors to apply for services such as payment method of credit card, trade licenses, employee visas, and many other essential services. SME’s are inspired to start up their base of operations in Ajman Media City by providing cost-effective and accessible services which surely will assist companies in boosting the financial success of the business.
Benefits OF Starting a Business in AMCFZ
- State of the art infrastructure
- Sophisticated 360-degree digital support platforms
- Can operate various business activities with single license
- License is issued within 24 hours
- Setup business without having to issue visa
- Full repatriation of capital and profits
- Complete foreign ownership allowed
- User-friendly zone, freedom of access with authorities
- Long-term viable framework
- Fresh businesses in zone are supported by extremely trained & qualified customer service team
- Foreign investors can apply for dependent visa for family
Categories of Company Formation in Ajman Media City
Free Zone Company (FZCO)
An FZCO extensively registered types of company formation in UAE and demands minimum of two shareholders. The shares of this type of can be owned by an individual or a company. Basic requirement for this type of company formation are, application form, Passport copy of owner, 2 color passport size photos with white background, three suggested name of the company, maximum capital up to 100,000 AED decided by the company.
Free Zone Establishment (FZE)
This is a type of company formation in Ajman Media City Free Zone is generally owned by single shareholder.
Requirements of this type of company formation are, an application form, Passport copy of owner, 2 color passport size photos with white background and A maximum capital up to 100,000 AED decided by the owner.
Branch of a Local Company (BLC)
This is a type of company formation is quintessential for organizations that already exist within the UAE and intend to establish another branch in AMC Free Zone
Requirements are, Application form, Passport copy of the representative or the manager of the company, 2 color passport size photos with white background, Original license, Original chamber of commerce certificate, Original commercial registration, Board resolution detailing the setup of Branch Company along with nomination of the authorized manager and zero maximum capital requirements.
Branch of a Foreign Company (BFC)
This is a type of company formation is most suitable for organizations that have already been functioning outside of Dubai. Foreign investors can set up a branch in AMC Free Zone and acquire benefit from the city’s brilliant business eco system, without sharing any capital. Requirements for this type of company are, Application form, Incorporation certificate from parent company, Memorandum & Articles of Association of the parent company, Passport copy with 6-month validity of the owner or representative or the manager of the company, Two color passport size photos with white background, Board resolution detailing the formation of the branch or the subsidiary nominating the authorized manager and absolutely no capital requirements.
Subsidiary of a Foreign Company
Subsidiary of a foreign company acknowledges foreign investor already having company outside UAE but want to set up subsidiary of his foreign company in UAE. Requirements are, Application form, Incorporation certificate from parent company, Memorandum & Articles of Association of the parent company, Passport copy with 6-month validity of the owner or representative or the manager of the company, Two color passport size photos with white background, Board resolution detailing the formation of the branch or the subsidiary nominating the authorized manager and No capital requirements for set up in Ajman media city.
Business setup in Ajman Media City
The Ajman Media city free zone is one of the best free zones for media-related companies. Ajman Media City Free Zone is considered to be hub of media and creativity. The free zone offers a cost effective and efficient solution to media companies and professionals considering future growth opportunities for their start up in a highly profitable economic ecosystem. Some of the most important characteristics of AMC FZ are as follow:
- This relatively new free zone offers no personal tax, corporate tax and is exempt from several other types of taxes.
- There is absolutely no requirement for partners and shareholders at the time of incorporation
- There is no minimum capital requirement.
There are total 4 packages offered for companies to commence trade in Ajman media city free zone. These include:
- Business Club
- Bronze package
- Silver package
- Gold package
This is the most basic type of package with the feature of desk space and usage of 10 hours per month for customer. These businesses are not eligible for visa. These companies are allowed maximum 5 commercial activities and 5 service activities. The total cost for this package is AED 8500 and the grand total fee after VAT inclusive, Name Approval and Innovation Fee come to around AED 8,800.
Those holders who opt for this package will be provided with a shared permanent office space. These companies can opt a free zone status with the eligibility of one visa. Most of other facilities in bronze package are similar to that of Business Club package. Total annual charges are around AED 11,500 and the grand total all inclusive will come to slightly above rate of AED 11950.
This package is quite similar to bronze package and only major difference between Silver and Bronze Package is that it allows investors to apply for two visas as compared to single visa in bronze package. The rest of the other facilities remain the same. Total package cost is comes around to AED 14,500 and the grand total fee all inclusive is roughly around AED 15,100.
This is by far the most premium package for new business setup in Ajman Media City Free Zone and commencing a business with this package will offers several benefits that you won’t find in any other package. The Companies with the gold package are eligible to apply for 5 visas and will be provided with an executive office with a minimum space of 12 sq. meters. Total cost is around AED 25,500, while costs around AED 26,555 when VAT is added and other charges.
Apart from the above mentioned 4 packages you can opt for platinum package which can be made available on request for business that need huge office space and require more than 5 visas.
All of these above mentioned Ajman Media City packages are made available to businesses that are conducting commercial activities ranging up to five allied activities or service activities also up to five allied activities, or a mixture of both commercial and service activities, as long as activities in both the categories are allied and grouped to a specific business type, such as IT professionals specialists, Software Design, Computer Hardware industry, Web Design etc.
The Ajman Media City license cost
Ajman Media City company setup costs are considerably low. The total cost of Ajman Media City license fees that you will be required to pay depends solely on the package you opt for. Business Club packages begin from just AED 11,431; Bronze from AED 16,152; Silver from AED 19,302; and Gold from AED 30,755. Prices for Platinum packages are available on request.
Ajman Media City company formation
The precise steps needed to commence Ajman Media City company formation depend on the nature of business and the package that best suits you will select. Generally In certain cases, your application should comprise of:
- Complete filled application form
- Passport copy of the owner or owners proposed
- 2 colored white background passport size photographs
- 3 suggested company name option.
This is a bit different when you are setting up a branch company, in that case you will be required to provide:
- Complete filled application form
- Certificate of Incorporation of the parent company
- The mother company’s Articles and Memorandum of Association
- Board Resolution detailing the formation of the branch or the subsidiary authorized manager to be nominated
- The representative or the manager of the company’s Passport copy with six months validity
- The manager of the company’s 2 colored photograph
One of the most substantial benefit of setting up your business in Ajman Media City Free Zone that every step of this process can be carried out from a distant. You are not required to visit Ajman to start your business; instead you can make your application from the comfort of your home country.
There you have it, your guide to business setup in Ajman Media City as this relatively new free zone provides complete media and digital facilities in the United Arab Emirates by corresponding to the professional mindset of individual investors and setups. So, new investors should prepare themselves to conduct business in a state of the art infrastructure which can be cost effective and efficient option. Also enjoy benefits of complete ownership your own set in Ajman media city free zone.