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Free Zones Of UAE

Abu Dhabi Airport Free Zone (ADAFZ)

Abu Dhabi Ports Company (ADPC)

Khalifa Industrial Zone Abu Dhabi (Kizad)

Masdar City

twofour54

ZonesCorp

Dubai Airport Freezone (DAFZ)

Dubai Auto Zone (DAZ)

Dubai Biotechnology & Research Park (DuBiotech)

Dubai Cars & Automotive Zone (DUCAMZ)

Dubai Flower Centre (DFC)

Dubai Gold and Diamond Park (DGDP)

Dubai Healthcare City (DHCC)

Dubai International Academic City (DIAC)

Dubai International Financial Centre (DIFC)

Dubai Internet City (DIC)

Dubai Knowledge Village (DKV)

Dubai Logistics City (DLC)

Dubai Maritime City (DMC)

Dubai Media City (DMC)

Dubai Multi Commodity Centre (DMCC)

Dubai Outsource Zone (DOZ)

Dubai Silicon Oasis (DSO)

Dubai Studio City (DSC)

ENPARK

International Media Production Zone (IMPZ)

Intl. Humanitarian City (IHC)

Jebel Ali Free Zone (JAFZA)

TechnoPark (TP)

Hamriyah Free Zone (HFZ)

Sharjah Airport International Free Zone (SAIF-Zone)

RAK Free Trade Zone Authority (RAKFTZ)

RAK Investment Authority (RAKIA)

RAK Maritime City (RAKMC)

Fujairah Free Zone (FFZ)

Ahmed Bin Rashid FZ (ABRFZ)

Ajman Free Zone (AFZ)


Business Made Simple!

The Growth of the Ajman Free Zone: Reality Check after 25 Years

Dubai, UAE. Oct 1st 2013:- The concept of Free zones adopted by various countries of the world has done wonders for the country adopting it. The concept relates to the provision of an economically viable area where trade and business are encouraged to flourish. While many countries have shown tremendous growth with the concept of the free zones, the Emirate of Ajman, with its Ajman Free Zone has stolen the limelight in the Middle East Asia.

Ajman being the smallest city in Emirates with an area of 260 square kilometers is not by far the smallest in its trade. Over the past 25 years, the city has gone from rags to riches just like that and is growing every passing second. It is covered by Sharjah on three sides and faces the Arabian Gulf coast on the fourth, therefore enjoying a strategic location. The Emirate government supports foreign investment fully and that is one of the reasons for Ajman’s rapid growth. Established under the expert administrative guidance of H. H. Sheikh Humaid Bin Rashid Al Nuaimi, Ajman has transformed from a maritime trading economy to a booming emirate that provides all facilities and services to those interested in trading and working in Ajman. The journey of Ajman Free Zone since its inception in 1988 to the present day has been a pleasant one.

The Ajman Free Zone encourages full fledged overseas investment, which enables overseas entrepreneurs and investors to make suitable investments. Right from getting a company setup, or offering professional service to people, or participating in a business formation, it is all possible in a single city making the financial growth easy as ever. The Ajman Free Zone Authority, formed in the year 1996 is the regulatory agency that works for the free zones in the Emirate. The agency is behind the stupendous growth of the Ajman Free Zone as it contributed greatly to the industrial activities pursued in the region.

The reason for the extraordinary growth of the Ajman Free Zone is its strategic location at the entrance of the Arabian Gulf. This location has enabled Ajman to serve both the western markets as well as the markets in the east. Dubai and Sharjah being extremely close to Ajman have also added to the growth as the city is easily accessible through the two international airports and four ports.

Providing the overseas investors and business partners the edge to invest and work in the emirates, the Ajman Free Zone has developed from a simple maritime economy to a thriving economy. The free zone has underway a multi-million Dirham development plan that spreads across an area of a million square meters. The proposed area, after completion would be able to accommodate more than 1500 companies. Plans are underway to provide all types of professional services so that company setup is an easy affair.

The Economic Factors of Ajman

There are certain factors that have been the driving force behind the success and growth of Ajman as a traders’ haven. These economic factors include the following:

  • Strategic location
  • Free zone advantage,
  • Competitive handling charges,
  • Easy and ready availability of raw materials,
  • Low rents of offices,
  • Lower land prices,
  • Modern infrastructure
  • The most conducive business environment

In the 25 years of its establishment, the Ajman Free Zone has achieved great heights of success, development and improvement. The business formation at the Ajman Free Zone  shows 256 industrial firms till date which constitute of one fifth of the total number of industries that are present and working in the UAE. By number of industries, the Ajman Free Zone stands at number three among the other emirates. The region excels in various industries the major ones being:

  • Textiles
  • Leather
  • Readymade garments
  • Non metal mineral products
  • Chemicals and plastic products
  • Food and beverages
  • Tobacco industries
  • Paper and paper products
  • Printing and the publishing industries
  • Basic metal industries and other equipment industries

Agriculture however, remains the primary occupation or to say income generator and is also easy to execute due to the availability of a large expanses of productive land where fruits, vegetables and grazing for livestock can be executed. Fishing, also contributes to the income in concurrence with the Ajman Seaport that offers eight docks.

The Cutting Edge of Ajman

The Ajman Free Zone has been the epitome of success as a free zone because of the cost advantage, which is a critical component for the economical growth of any region. The process of company setup in Ajman is fairly easy. There are no hassles or red tape to harass the investors and business men. On the cost advantage, the Ajman Free Zone provides cheap energy, no hidden fees or service charges of any kind, economical wage structure, access to a vast work force, no import or export duties, low lease prices, very affordable handling charges, low tariffs and above all, world class infrastructure.

Offering facilities of professional service, the Ajman Free Zone provides corporate benefits like 100% foreign ownership with 100% repatriation of capital and profits. There is no income tax or corporate tax making it extremely viable for business developers to establish their shop at the Ajman Free Zone.

Professional Services

The Ajman Free Zone has carved a story of success for entrepreneurs and foreign investors as it offers professional services for companies to set up offices at its premises. The first step in this regard is the elimination of bureaucratic procedures in offering licensing to the companies to establish their shops. These licenses include trading, industrial, professional services and national industry license. Each of these categories of licenses has its importance and relevance and interested companies need to apply for the same.

In addition to the other various freebies offered by the Ajman Free Zone, there is also the provision of custom duty exemption for companies that have the National Industrial License in the zone. As per the norms set by the regulatory authority, those companies that have the national industrial license in the Ajman Free Zone and having 51% share holding with the GCC nationals would be able to qualify for the “UAE Certificate of Origin”. This certificate is issued by the Ministry of Economy and Commerce of UAE quoting that the said company qualifies to be exempted from customs duty. However, this exemption of customs duty is applicable only in the member states of the GCC countries.

Ajman Real Estate

An area where not only Ajman but other emirates have seen tremendous growth is the real estate. The real estate business in the Ajman Free Zone once boomed in the early years of the new millennium. The property prices skyrocketed to extreme heights. However, there was a slight dip in this arena for a brief period between 2007 and 2010 as the city faced a financial crisis. Nevertheless things again picked up and property has once again become the favorite area for the investors to park their extra funds.

As a free zone, Ajman is the second only emirate in the region that offers foreign investors the ability to own freehold property ownership. It offers 100% transparent ownership to foreign investors. Various projects initiated under the guidance of the regulatory authority are at various stages of development. These projects are planned to make Ajman an even better place to live and work. Some are housing projects, while some are projects involving the construction of shopping malls, over bridges, offices and other such projects involving the infrastructure. The aim of the regulatory authority of the free zone is to enable more and more investment from the investors but with the intention that they earn good returns on their investments.

So far, the Ajman Free Zone has been able to fulfill the promises that it had envisioned at its inception. This growth and success is attributed to the liberal thinking and strategic planning by those involved at the top level.

Great Place to Kick-Start a New Business

Setting up or investing in for a new business at this place is now a possible dream for any entrepreneur. Professional business consultancy firms are there at your service to help you with your business formation and make it more beneficial.

About Universal Consultants JLT

If you are looking for a professional business consultancy firm for building up business in Ajman free zone or any of the other UAE free zones, Universal Consultants JLT would be a great option. We are one of the leading business advisory firms based in Dubai providing customized business solutions for businesses of all size and nature. Our veteran consultants can help you in receiving function-specific insights to build up your business in the places of your choice. With us you can enjoy end-to-end services from making you knowledgeable about labor law, work permit regulations to building up brand image in the highly competitive business market.

Contact Us:

P.O. Box: 76326, Dubai, United Arab Emirates.

Phone: +971 43745053

Fax: +971 43608577

E-Mail: uc@uaefreezones.me

Web: www.uaefreezones.me

 

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