Guide for Business setup in Ajman Media City Free Zone_PPT


Vishakbalagopal1043

Uploaded on Aug 18, 2020

Category Business

Setting company up in Ajman Free Zone is a simple, five-step process. This guide will provide you the information regarding the process.

Category Business

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Guide for Business setup in Ajman Media City Free Zone_PPT

Guide for Business setup in Ajman Media City Free Zone Advantages of Ajman Free Zone  Multiple visa options  Affordable and cost-effective  Quick and easy registration  NOC from the local sponsor isn't required  Access to state-of-the-art facilities  Low barriers to entry  Easy to open your corporate bank account  Easy to sponsor dependants  Multiple shareholders  Great location, global reach  AFZ additionally has many workplaces throughout the world — in Dubai, Russia, Pakistan, India and the UK Step by step guide for B usiness setup in Ajman Media City Free Zone Step One: Outline your Business Activities  Select your business activity or activities.  AFZ welcomes most activities that are permitted in the UAE which includes accounting and bookkeeping, consultancy, hospitality, IT, marketing, trading, and transport.  List all intended activities to your license application. If you failed to do so, it can cause significant complications in your project down the line. Step Two: Choosing Company Name  UAE imposes a strict, however easy to follow, set of naming conventions that will not be familiar to anyone outside of the region.  Keep in mind that it can't encompass any offensive or blasphemous language, nor any references to Allah or Islam. If you want to include your own name in your company name, you ought to use it in complete instead of simply your surname or initials.  Check that the name you have chosen is available to be registered.  A company formation services can help you to with this step, making recommendations and checking that your selected name is free. Step Three: License Application  In most cases, you will be asked to provide: • A passport copy with six months validity for each partner • One colour photograph for each partner • No Objection Letter from the existing sponsor if the applicant is a resident of the UAE • A business plan if applying for an Industrial or Service license  If you wish to open a branch, you may also be asked to provide: • Memorandum and Articles of Association • Board Resolution • Certificate of Incorporation • Power of Attorney  A Registration Certificate issued by the competent authority in the country in which the company is registered. Step Three: License Application (Contd.)  If you give your completed application without any errors, it is possible to get your business license in only one business day.  To make sure that is the case, it is a great idea to work with a company formation professional throughout the complete incorporation process. Step Four: Visa Application  With your license secure, you can now apply for any visas you may need. A company formation professional can take care with this step for you, together with your license application.  You can apply for your own visa, as well as those of your employees and dependants including your spouse, children and domestic staff.  In most cases, the number of visas you can apply for will rely upon the size of your business and your preferred license package. Step Five: Opening a corporate bank account  The very last step to launching your AFZ business is to open your corporate bank account. This isn't always a straightforward process for international entrepreneurs.  There are many local and international banks to pick out from, all with different acceptance criteria and application process.  Yet another reason you need a reputed company formations services to work alongside you to complete this process. They can also offer you advice on the most suitable bank for your business as well as organise meetings with financial institutions too. Starting your business in Ajman Free Zone  Any mistakes on your application should lead it to being behind schedule or rejected.  That’s why it’s an amazing idea to work with a company formations services that will help you set up your business.  Let the specialists take care of the rest – dealing with your license and visa applications, communicating with all applicable departments and authorities, and reporting back whilst you’re ready to begin trading. It absolutely is that simple.