Ajman Media City Free Zone offers a cost-effective launchpad for media and creative entrepreneurs who wish to establish their presence in the Middle East region. The recent surge in demand for media and creative activities has prompted more foreign investors to prefer the environment of business setup in Ajman Media City Free Zone. Apart from that, investors are interested in Ajman Media City due to a slew of reasons including its cost-effectiveness, strategic location, easy licensing procedure, flexible regulations and robust infrastructure.
Before applying for a business license in Ajman Media City, foreign investors must understand more about the free zone. A greater understanding of the license packages, benefits, and features of the free zone will allow the investors to make the right decisions regarding the process of business setup in Ajman Media City. The assistance of business setup consultants in Ajman will come in handy for foreign entrepreneurs in this regard. A brief glimpse into the free zone can also be gathered from this article as well. Read ahead.
Business Setup Packages in Ajman Media City
The chief highlight of company formation in Ajman Media City is its wide range of business setup packages that are affordable and highly flexible. The free zone authority has designed the packages in such a way that businesses of all sizes can easily set up a business. The following are the business setup packages provided by Ajman Media City:
1. Business Club Package
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Under the Business Club Package, the companies can have a shared workspace with a limited time allocated per month. The companies are entitled to free zone status but are not eligible for a visa. The package is available for both commercial and service activities. The cost of setting up a business in Ajman Media City under this package starts from AED 8,500.
2. Bronze Package
With the Bronze Package, investors can set up their business in a shared permanent office within Ajman Media City premises. Companies formed with this package are entitled to one visa and free zone status. The cost of setting up a business under the Bronze Package starts from AED 11,500. Business setup consultants in Ajman can help the investors decide whether this package is right for them.
3. Silver Package
A Silver Package allows the entrepreneurs to set up their companies in a shared permanent office (Smart Plus Office) in Ajman Media City. Investors are eligible for two visas and free zone status. The cost of the Silver Package in Ajman Media City starts from AED 14,500.
4. Silver Plus Package
The Silver Plus Package provides the investors with a shared permanent office and free zone status. Companies formed with this package are eligible for three visas. The cost of starting a business with the Silver Plus Package starts from AED 17,500.
5. Silver Premium Package
The Silver Premium Package comes with four visas and free zone status for companies incorporated in Ajman Media City. Companies formed under the Silver Premium Package will be provided with a shared permanent office within the free zone premises. The business incorporation costs start from AED 21,500 under this package.
6. Gold Package
Setting up a business in Ajman Media City with a Gold Package makes the investors eligible for five visas. The companies will be allocated an executive office with free zone status. The cost of business up in Ajman Media City under the Gold Package starts from AED 25,500.
7. Platinum Package
Investors who wish to have more than five visas can apply for the Platinum Package. Consult with business setup consultants in Ajman to obtain the package quickly.
Types of Companies Allowed in Ajman Media City
Depending on the number of shareholders and nature of the business, investors need to determine a legal structure for their proposed company. Ajman Media City allows the formation of the following types of companies:
- One owner Company / Free Zone Establishment (FZE)
- Multiple Owner Company or Free Zone Company (FZC)
- Branch of a Foreign Company
- Branch of a Local Company
- A subsidiary of a Foreign Company
Setting up a Holding Company in Ajman Media City
The laws of business setup in Ajman Media City permits the formation of a holding company in the free zone. A holding company is used for controlling other companies, including other corporations and Limited Liability Companies (LLC). A holding company can also be used on real estate properties, patents, trademarks, stocks and other assets. A holding company package in Ajman Media City starts from AED 5,000.
Social Media Influencer License in Ajman Media City
The activities of social media influencers are regulated by the UAE National Media Council (NMC). As per the NMC rules, social media influencers, including bloggers and vloggers, need to form a company in the UAE to carry out their activities. Ajman Media City has introduced a Social Media Influencer Package to help the influencers navigate the process of business setup in the UAE. Ajman Media City has tied up with the NMC to help the influencers with obtaining approvals and licenses. The cost of the Social Media Influencer Package in Ajman Media City starts from as low as AED 2,500 (for individual accounts). For multiple accounts, the cost of company formation in Ajman Media City starts from AED 10,000.
Process of Business Setup in Ajman Media City
Ajman Media City has implemented a robust and flexible set of company incorporation regulations. The free zone’s regulations make the process of company formation easier for foreign investors. The steps for setting up a company in Ajman Media City are as follows:
- Select the right business activity
- Determine the legal structure
- Select the right company formation package as per the facilities and visa requirements
- Fill up the application and submit the documents
- Once approved, the license will be issued by Ajman Media City Authority
Documents Required for Company Formation in Ajman Media City
Documents are paramount to properly setting up a business in Ajman Media City. Inadequate documentation may delay the process of company formation in Ajman Media City. Business setup consultants in Ajman can help the investors with the documentation. The following documents are required for obtaining a business license in Ajman Media City:
- Application form
- Passport copies of shareholders
- Colour photographs of shareholders
- The decided capital of the company
Documents Required to Set up a Branch in Ajman Media City
The required documents vary depending on the type of company. For instance, the following documents are mandatory for opening a foreign company’s branch office in Ajman Media City:
- Application form
- Parent company’s Certificate of Incorporation
- Parent company’s Memorandum & Articles of Association
- Board resolution describing the setting up of the branch and nomination of the manager
- Passport copy of manager with six months validity
- Two colour photographs for the manager
- Capital: No Capital is required
Kindly note that documents 2,3 and 4 should be attested by the UAE Embassy in the country of origin of the parent company. These documents should also be attested by the Ministry of Foreign Affairs in the UAE. Company setup consultants in Ajman can provide more information on the documents.
Benefits of Setting up a Company in Ajman Media City
By incorporating a company in Ajman Media City, the investors can avail the following benefits:
- 100% ownership
- 100% repatriation of profits
- Zero corporate tax
- Strategic location in Ajman
- Excellent connectivity by sea, land and air
- Affordable business setup packages
- Easy approvals
- Quick issuance of a license
- Easy to open a bank account
- Easy to sponsor dependent’s visa
Compliance Requirements in Ajman Media City
Companies established within Ajman Media City are required to disclose the details of their Ultimate Beneficial Owner (UBO) to the free zone authority. They should maintain a Real Beneficiary Register (RBR) and Partners or Shareholders Register (RBR). Also, they should check if they fall within the scope of Economic Substance Regulations (ESR). If yes, the companies should file ESR notification, ESR Report and meet the economic substance test.
The companies should also comply with Anti-Money Laundering and Combatting Financing of Terrorism (AML-CFT) laws. Non-compliance will result in hefty fines and reputation damage. Companies undergoing liquidation in Ajman Media City are also subject to these regulations. However, availing of business setup services in Ajman can help business owners to comply with such regulations.
Avail of the Best Business Setup Services in Ajman, UAE
The process of business setup in Ajman Media City stays in high demand due to the free zone’s modern facilities and cost-effective packages. However, enlisting business setup services in Ajman will help the investors to ensure that the procedures are executed properly. Business setup consultants in UAE such as Jitendra Business Consultants (JBC) offer the best company incorporation services for foreign investors.
We have a team of highly qualified business setup experts who are well-versed in the UAE immigration laws and labour laws. JBC can help the investors navigate complex processes like applying for a visa, sponsorship of employees, family, maids, drivers etc. JBC’s business setup services in the UAE will come in handy for opening a bank account, drafting the documents etc. We also provide compliance services related to VAT, ESR, AML-CFT and UBO. JBC is committed to providing foreign investors with a flexible and affordable solution to propel businesses to grow.