The International Business Companies (IBCs) or other legal entities, which are incorporated under the laws of the jurisdiction and are forbidden to undertake commercial activities, are referred to as Offshore Companies. An offshore company is a legal business entity formed in an economical jurisdiction to improve the company’s operations, maximizing profits and minimizing tax liabilities. Offshore company formation in Ajman was allowed in 2014.
Companies registered in Ajman as an offshore company cannot conduct commercial activities and therefore they are not entitled to operate licenses and are only provided with a registration certificate.
Benefits of Ajman Offshore Company Formation
Setting offshore companies in foreign lands is a well-known business idea in today’s world. There are several benefits of Offshore Company Formation:
- 100% foreign ownership
- 100% repatriation of funds
- Most of the taxes are exempted
- Company set up is very economical
- Reduced legal formalities and paperwork
- No need for an office or industrial area. The legal address of offshore Ajman agent is the address of the offshore company
- The Ajman offshore agent’s address can be the company’s legal address.
- No final report or annual audits required
- Share capital not required
- The company registration process is quick and simple
- Offshore companies in Ajman are allowed to open a bank account in the company’s name.
Why start an Offshore Company in Ajman
Besides the above-stated benefits, there are numerous other advantages that attract investors to come and start an offshore company in Ajman. Ajman provides the cheapest establishment cost in the UAE.
Companies registered as offshore companies get the status of non-resident companies. The shareholders are allowed to invest in other UAE based companies. A company must appoint a registered agent who can act on behalf of his client whenever needed.
Procedures for Ajman offshore company registration
CredentOne DMCC is well-versed in the field of company formation and have always helped the investors and business enthusiasts in offshore company formation. Here’s the process which needs to be followed by an investor to register an offshore company:
- Determining business activity – It is foremost to determine the activity an entrepreneur is willing to undertake as per the laws of the jurisdiction.
- Selecting the business name – To have a separate identity and idea to the consumer about the activity a distinct name for the company should be chosen and get registered.
- Completing the documentation – All the required documents according to the checklist issued by the Authority needs to be submitted by the registered agent for convenience.
- Issuance of registration certificate – After going through all the documents and being satisfied, the Authority issues the certificate of registration.
- Opening the Bank Account – The registered agent helps you in opening the company’s bank account to start the necessary transactions.
Choose CredentOne DMCC for Assistance
CredentOne DMCC is a company formation consultant in UAE and a catalyst to the investors interested in Ajman offshore company formation. We provide all the basic details and help the foreign client to understand the regulatory framework and legal agreements, like land lease agreement and labour contract.
We are Ajman offshore registered agent and provide the best of advice to the company in the decision-making process to maximize the company’s profits by making optimum use of the resources and benefits offered.
Contact us to set up an offshore company at the Ajman.