uae, ajman offshore company

UAE, Ajman offshore company

https://gsl.org/en/offers/incorporation-of-an-offshore-company-in-the-emirate-of-ajman-afza/

Incorporation of an offshore company in the Emirate of Ajman (AFZA).Service offer


Ajman is a small-area emirate in the north of the UAE. The formation of offshore companies became possible in 2014 after special Ajman Free Zone Offshore Companies Regulation was adopted. Offshore companies are completely exempted from taxes in the territory of the UAE, but they may not conduct business in the Emirates.

General information

Any individuals or legal entities (except for private funds and trusts) may be shareholders of a company irrespective of their citizenship/country of incorporation, and the company is not required to have local shareholders. Any individuals over 18 years old who have not been declared bankrupt or disqualified may become directors of a company. Appointment of corporate directors is not allowed.

The Regulations do not contain any requirements as to the minimum amount of share capital. Shares of a company may either have or not have declared par value (in any currency).



An offshore company, unlike a resident company, may not be used to obtain visas for its employees or directors.

An offshore company must have a local registered agent whose data is entered in the Memorandum of Association.

A company may have a nominee director, but nominee shareholders are not allowed. The register of shareholders and directors of an offshore company is not available to third persons.

An offshore company is not obliged to file accounts with any state authorities in the UAE, however in accordance with part 11 of the Regulations for 10 years a company must keep documents on its economic activity to the extent that enables directors to determine the financial position of the company.

Besides, directors of a company must prepare its financial statements and provide shareholders of the company with them annually.

Main features of incorporation procedures

The following information and documents have to be provided in order to incorporate a company:

— Details of the structure and activity of the company (in a free form, based on a description of activity a business plan is drafted, which has to be approved by the Registrar at incorporation of the company);

— Copy of passport of each director and shareholder of the company;

— Document confirming the residential address of each director and shareholder of the company (it can be cell phone, gas, electric power, water receipt, etc., but it must contain the current address and full name).

The documents must not be older than 3 months.

Shareholders’ visit to the UAE is required to incorporate a company only if an account with a local bank is needed for the company.

After the full set of documents has been provided, the incorporation takes approximately 10 workdays.



The cost of incorporation is USD 5,200, which includes:

Preparation and filing of all necessary founding documents with the Registrar and subsequent handing over of the original documents to the client;Provision of a registered address and services of a registered agent for the first year after the incorporation;Standard compliance fee;Making of the company’s seal;Sending of documents.

The cost of renewal of a company starting from the second year after the incorporation is USD 4,200, excluding the compliance fee**.

The cost of services of a nominee director is USD 1,140 per year, including the issue of one apostilled power of attorney.

IMPORTANT: The UAE is not a signatory to the Hague Apostille Convention; the costs of legalization of the founding documents are not included in the cost of incorporation and are determined separately depending on prices of the consulate of a country where the company’s documents will be used.

** The compliance fee is calculated as follows:

Option 1

150 USD (standard fee – includes check of 1 individual)

+ 50 USD for each additional individual (director, shareholder or beneficiary) or legal entity (director or shareholder) if legal entity is serviced by GSL

+ 100 USD for each additional legal entity (director or shareholder) if legal entity is not serviced by GSL

Option 2

250 USD (check for High Risk companies, including check of 1 individual)

+ 50 USD for each additional individual (director, shareholder or beneficiary) or legal entity (director



or shareholder) if legal entity is serviced by GSL

+ 100 USD for each additional legal entity (director or shareholder) if legal entity is not serviced by GSL



Contact personsHead of the UAE office of

Aleksandra Fedotova

Phone/Fax: +7 (495) 234 38 [email protected] | gsl.org

Consulting and incorporation of companies abroad; Legal support to and administration of foreign companies; Opening corporate and personal bank accounts; Residence permit and visa support in the UAE; Relocation (redomiciliation) of business to/from the UAE; Applying for special licences in the UAE; Legal review and legal opinions; AML/Compliance procedures; Conducting seminars and consultations on international law; Conducting seminars and consultations on AML/Compliance;

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uae, ajman offshore company

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