pr23Hw2
 

Ajman Media City Free Zone (AMCFZ)

The latest economic zone in the Emirate of Ajman, which is designed to support businesses in the entertainment, creative and media industries.

The  project Ajman Media City is aimed at small and medium-sized businesses, as well as startups planning to launch a business in the free economic zone and gain access to macro-regional markets. 

The new economic platform has high potential, therefore, in the coming years it will become the most attractive free economic zone in the country for the media and other sectors of the media.

 

Company advantages in the AMCFZ

 

  • The possibility of 100%  company ownership by foreign citizens;

  • lack of currency control;

  • exemption from most taxes (there is only a 5% value added tax);

  • a high degree of confidentiality of any information about the owners, shareholders and directors of companies;

  • simplicity in the business registration procedure;

  • accelerated license;

  • lack of requirements for the minimum authorized capital;

  • location in the center of Ajman, near Dubai, Sharjah and international airports.

 

Types of companies

 

  • Free Zone Establishment (FZE) - a company with 1 founder.

  • Free Zone Company (FZC) –  a company  with more than 1 founder

  • Branch of a Local Company

  • Branch of a Foreign Company (BFC)

 

Types of licenses

 

  • Service: for companies working in the field of consulting and IT;

  • Trading: for companies involved in products import and export;

  • A possible combination of service and trading activities in one license (The same company can engage in both trading activities and the provision of services, what is prohibited in other free economic zones. This makes the cost of the license lower compared to other free economic zones)

  • Electronic commerce license - E-commerce License is intended for conducting online commerce.

 

Shareholders and management

 

The number of directors - at least one. These can be only individuals.

The number of shareholders - for FZE - at least one, for FZC - at least two. These can be individuals and legal entities.

 

Authorized capital

 

There are no mandatory requirements for the minimum authorized capital of a company to be established

 

Office spaces

− Business Club

A separate workplace in a common office, with the ability to use no more than 10 hours a week. The customer receives a dedicated phone number, a shared fax number, and a dedicated email address.

− Shared Office

− Real office, 12 sq m

 

Visas

 

The number of visas depends on the type of office you choose.

 

Accounting and auditing

 

Reporting required.

 

Notes

 

1. The registration deadline for a company is 1 day from the filing date.

2. A personal visit of a shareholder or representative acting on the basis of a power of attorney legalized in the UAE is required.

_____________________

 

The specialists of PARUS are always ready to advise you in more detail on all issues regarding the company registration procedure in Ajman Media City Free Zone.