Ajman is the smallest emirate in the United Arab Emirates (UAE), but it offers a strategic business location, as it is situated between Dubai and Sharjah, and it connects the West and the East through its opening to the Arabian Gulf. Investors interested in opening a business in Ajman should know that the Ajman Emirate established in 1998 a free zone, which has flourished since its beginnings. One of the most important industries in Ajman is the real estate sector; if you need more details about this industry, our team of lawyers in Dubai can offer you in-depth information.
Types of companies available in Ajman
According to the legislation applicable in Ajman, foreign investors can choose from four types of legal entities, with the following characteristics:
• joint liability company needs at least two partners, who must be citizens of UAE and who can become liable with their own properties for the company’s liabilities;
• simple commanding companies must have a minimum of two partners, who are divided into two categories –partners in joint liability company (described above) and partners in partnership companies, who are liable in respect to their shares in the company;
• the limited liability company must be constituted of a capital of at least DHS 150,000 (Emirati Dirham), divided into equal shares; the partners (minimum two, maximum 50), are liable for the company’s liability according to the shares owned in the business.
• services agent – the representative of the company should own a passport issued by the Emirate of Ajman.
Investors who want to set up a business here can also incorporate a company as a subsidiary or a branch. Please note that some of the legal entities available here require that a minimum of 51% share ownership to belong to a UAE citizen; our law firm in Dubai can present more details upon this provision.
Documents required for incorporation in Ajman
Incorporation of a company in Ajman is done through the Trade Register; the investor should submit the following main documents in order to receive the right to conduct a business in a certain field of activity:
• the articles of association;
• the certificate of incorporation;
• notarized power of attorney for the representative of the company in Ajman;
• a passport copy of the representative.
Our attorneys in Dubai can present to you a detailed list of all the documents necessary for opening a business here and can offer you assistance throughout the incorporation process.
If you need further information on the Ajman business opportunities, please contact our Dubai law firm.