How are freezones in Ajman attractive for businesses?
Free zones in Ajman offer several attractive features for businesses:
1. 100% Foreign Ownership: Ajman’s free zones often allow businesses to have full foreign ownership, providing international investors with control over their ventures.
2. Tax Benefits: Businesses in Ajman free zones may benefit from tax exemptions, including corporate and personal income tax breaks for a specified period, contributing to overall cost savings.
3. Customs Duty Exemptions: Companies operating within Ajman free zones can enjoy exemptions from import and export duties, facilitating smoother international trade operations.
4. Infrastructure and Facilities: Ajman’s free zones are equipped with modern infrastructure, high-quality facilities, and a business-friendly environment, offering businesses the resources they need to thrive.
5. Business Support Services: Free zones often provide a range of support services, such as administrative assistance, licensing support, and networking opportunities, easing the setup and operational processes for businesses.
6. Streamlined Processes: The establishment and licensing procedures in Ajman free zones are often streamlined, reducing bureaucratic complexities and allowing businesses to set up quickly and efficiently.
7. Access to Global Markets: Ajman’s strategic location allows businesses in its free zones to have convenient access to regional and international markets.
8. Sector-Specific Free Zones: Ajman has free zones catering to specific industries, such as technology, manufacturing, and logistics. This specialization can attract businesses looking for an environment tailored to their sector.
9. Flexible Legal Framework: Ajman’s free zones typically operate under a flexible legal framework, offering businesses the freedom to structure their operations according to their specific needs.
10. No Currency Restrictions: Ajman free zones often allow businesses to transact in various currencies without restrictions, facilitating international trade and transactions.
11. Skilled Workforce: Ajman and its surrounding areas provide access to a skilled and diverse workforce, making it easier for businesses to find the talent they need.
Overall, these factors make Ajman’s free zones an appealing choice for businesses seeking a favorable environment for investment, growth, and international business activities.
Here are the free zones which operate differently than in mainland Ajman:
- Ajman Free Zone
- Ajman Media City Free Zone
- Ajman Free Zone – Ajman Free Zone (AFZA) (Arabic: منطقه عجمان الحره) is a free trade zone in Ajman, United Arab Emirates (UAE). It was first established in 1988. It is one of a number of unbonded free zones in the UAE. It offers offshore company setup and operation to investors. As of Q1 2018, 12,362 companies operated out of AFZA.
- Ajman Media City Free Zone – Operating independently of AFZA, Ajman Media City Free Zone was launched in 2018, some three years after the Emiri Decree to establish the zone was issued. The zone offers a range of small company licensing services to media-related businesses.