Among United Arab Emirates Free Zones, Ajman Media Free Zone stands as one of the most prominent choices. The establishment of this Free Zone began in 2018, specifically to draw media and creative experts from the entertainment industry and the field of technology. Freelancers, together with light manufacturers and trading firms, can benefit from its strategic location because the free zone is located 40 minutes from Dubai and near a seaport. So, in this guide, we’ll discuss the Ajman Media City free zone company formation guide.
What Sets Ajman Media City Free Zone Apart?
Despite being the smallest emirate in terms of landmass, the United Arab Emirates contains Ajman, which stands as the fourth most populous emirate after Abu Dhabi, Sharjah and Dubai. The small size of the area generates a GDP exceeding $4.23 billion every year. According to market analysts, the storage and communications industry maintains an annual growth rate of 5.1% while ranking behind social and personal services in growth speed.
Under the leadership of His Highness Sheikh Humaid bin Rashid Al Nuaimi, Ajman Media City Free Zone stands as a critical element that will advance the emirate’s development initiatives while preparing itself to become the industry’s leading growth sector. Moreover, the investment sector in Ajman demonstrates 5% annual growth while becoming home to multiple major companies within this period.
The Ajman Media City Free Zone continues attracting businesses to establish a presence while the emirate develops residential and lifestyle options to serve investors and entrepreneurs with their families. The United Arab Emirates emirate of Ajman introduced full foreign ownership rights for real estate properties, which makes it the region’s first jurisdiction to do so.
Advantages of Ajman Media City Free Zone Business Setup
Every free zone in the UAE develops its personality while delivering separate facilities to draw investors and operators toward establishing business operations in their designated area. Below are several advantages for investors who choose Ajman Media City Free Zone:
- Free from most of the taxes
- Businesses in Ajman Media City do not need to have a minimum number of clients when establishing their corporate entity.
- Organisations have the freedom to select their required minimum share capital amounts.
- Business club package starts at AED 8,500* while the top-level Gold Package reaches AED 25,500*.
- The free zone accepts payment through credit cards and debit cards as well as cheques and cash deposits.
- A company in the UAE can alter its activities at any time during operation.
- Opening of a corporate bank account
- Company owners can pursue dependent visa applications to bring select family members into the country.
- The existing visa holder of a country can establish their business entity through this visa type.
- The corporate identity of the business maintains a location identification along with designated office and building numbers inside the AMC Free Zone.
Complete foreign ownership with capital and profit repatriation provisions is provided through the free zone framework. There is no requirement for NOC to form a company in Ajman Media City Free Zone.
Types of Companies Setup in Ajman Media City
Companies implementing these packages can establish their business operations through their selection. Establishments approved for operation within AMC can be categorised into the following forms of companies:
- Free Zone Establishment (FZE)
A Limited Liability Establishment incorporated in the AMC free zone operates as a separate legal entity belonging to one natural or juridical person carrying distinct financial responsibility.
- Free Zone Company (FZC)
A limited liability company incorporated in the AMC free zone must have more than one shareholder, yet maintains its own legal existence and financial independence.
- Branch of a Local Company
Any UAE-registered business can establish a “Branch/Representative Office” only when it maintains legal existence as an entity of its parent company.
- Branch of a Foreign Company
Business entities established outside the UAE territory can establish branches inside the United Arab Emirates’ territory.
What Facilities are Offered by Ajman Media City Free Zone?
The new complex holding the free zone serves both as a marketing advantage and improves the working environment. Companies have multiple headquarters and business locations to execute their business operations. The city of Ajman free zone offers the following facilities:
- 10-hour-a-month desk space
- Permanent desk space (permanent)
- Shared offices (permanent)
- Quality executive offices
Which Business Activities are Allowed in Ajman Media City?
The contract terms of Ajman Media City limit the types of activities that the business license holders can pursue. The main operations of the free zone focus on media and creation, alongside the IT services sector.
Ajman Media City Free Zone launched business activities across three distinct sectors:
- Service / Consultancy
- E-Commerce
- Media Related Trading
The free zone law permits 1 license to contain up to five different activities. Each separate activity under the contract does not need to link to other business activities as an eligibility requirement. Social media influencers, courier services, legal practices, temporary work agencies, and other activities represent noticeable activities.
You can combine commercial operations and service activities at Ajman Free Zone without paying any additional costs. Business activities that support the main business line need to match the brand identity of the organisation.
Ajman Media City Free Zone Company Setup Cost
Young entrepreneurs starting businesses in Ajman can obtain Media City Free Zone licenses beginning at 5,000 AED*. The package expense will be determined by the number of visas obtained and the business scope of operations. Various packages have the following cost breakdown:
- Silver Premium Package — 21,500 AED*
- Gold Package — 25,500 AED*
- Silver Plus Package — 17,500 AED*
- Silver Package — 14,500 AED*
- Bronze Package — 11,500 AED*
- Business Club Package — 8,500 AED*
- Holding Package — 5,000 AED*
- SMI Package — 2,500 AED* (single account)
Companies requiring over five visas with expansive office space must select the Platinum Package of the business formation services.
Note: These prices exclude VAT Charges as well as Innovation Fees and Company Name Approval costs.
It costs extra to obtain resident visas under the company name, depending on the category classification. Additional payments for resident visas consist of the following amounts:
- E-channel deposit of 5,000 AED*
- E-channel registration fee of 2,100 AED*
- You will need to pay 2,800 AED* to obtain a visa, plus a medical checkup and an Emirates ID.
Necessary Documentation for Ajman Media City Free Zone Company Formation
A Free Zone Establishment allows you to start a business with a single owner of the company. The business establishment requires FZC or Free Zone Company status when multiple shareholders operate the company. The Ajman Media City Free Zone allows a different entity to be set up as either a branch of a foreign company or a branch of a GCC company, which means a parent company maintains ownership control over the free zone business entity.
- Completed Application Form
- Copy of Passport
- Passport-sized photographs should demonstrate the person in front of a white background.
- Three company name options
- One must provide documentation to show the present residential address where one lives in one’s home nation.
- For UAE residents, you need to submit a copy of your Emirates ID.
- The copy of the residence visa belongs to individuals who already live in the United Arab Emirates.
Both business owners and partners in a firm must submit these required documents. As a result of this procedure, two different investor visas are issued to obtain separate passports for the business partners.
After you submit your documentation to the Ajman Media City Free Zone Authority, they will issue several important documents to you:
- Companies operating with one business owner require a Memorandum of Incorporation.
- Businesses with multiple business owners need both a Memorandum of Association and Articles of Association.
- The Share Certificate becomes necessary for organisations that operate with various business owners.
- Certificate of Incorporation
- Company registration
- Chamber of Commerce Membership Certificate
- Lease agreement
- Tenancy contract
- Certificate of good standing
Steps for Company Formation in Ajman Media City Free Zone
The process to set up a business in the Ajman Free Zone is simple and is described below:
Step 1: Select Your Business Activity
Your company must decide on the specific type of commercial operations it will pursue. Various kinds of business operations occur at the Ajman Media City Free Zone, ranging from film production to music entertainment and event management.
Step 2: Submit Your Application for Business License
The media-focused free zone in the United Arab Emirates welcomes multiple business activities into its operations through the following licenses:
- Service License: The right to create and modify services as well as their reproduction, distribution and alteration, constitutes a service license as a specific intellectual asset.
- Trading License: A trading license acts as an authorisation document to perform import-export functions alongside the distribution and storage of goods whose names explicitly appear on the license document.
- E-commerce: Through an e-commerce license, anyone can perform every type of trade or service operation that takes place online.
Step 3: Select Your Desired Plan from Available Options
Business owners can choose from different packages, which Ajman Media City Free Zone presently makes available:
1. Business Club Membership Deals
Ajman Media City Free Zone offers the Company Club Package, which serves as a shared workspace where each business owner receives a set monthly usage time for the space. Established businesses under this package will achieve free zone status while remaining ineligible for visa benefits. Starting their business with this option will cost prospective owners 8,500 AED*.
2. Bronze Package
The package includes shared permanent office space located within modern buildings of free zones. The newly formed businesses will gain free zone status, which provides them with a single business visa. The Business Club and its competitors offer the same set of features in their packages. This package costs AED 11500*.
3. Silver Package
Businesses based in the Smart Office Plus can get two visas and maintain free zone operational status through the Silver Package with shared permanent office space. Extra fees consist of value-added tax, innovation fee and company name approval. Both the Business Package and Bronze Package feature features equivalent to this option. This package costs AED 14500*.
4. Silver Plus Package
Businesses that start operations within the Smart Office Plus can receive a permanent shared workspace together with three visa benefits and free zone status benefits. The package includes offers that are identical to what was initially described. This package costs AED 17500*.
5. Gold Package
The free zone stands as a core initiative of Ajman Vision 2021, where it operates today to function as the pure industrial base for all creative business sectors and entertainment and media industries. This package costs AED 25500*.
Step 4: Submission of Documents
The subsequent action requires you to present all necessary documents needed to set up a company in Ajman Media City Free Zone.
Step 5: Get Approval
A Certificate of Incorporation gets sent to you upon successful review and acceptance of your business application. To launch your desired business in Ajman Free Zone, you must obtain a Certificate of Incorporation.
Step 6: Opening Your Bank Account
Your business operation in Ajman Free Zone starts by establishing a business bank account.
Xpert Advisory professionals will help you find suitable banks and guide you through all stages of your banking setup, from appointment scheduling to service implementation.
Besides this, company formation in Ajman Media City Free Zone differs according to your company type as well as your selected organisational form.
Requirements for Compliance within Ajman Media City Free Zone
Every business setup in Ajman Media City must present the free zone authority with complete information about its Ultimate Beneficial Owner (UBO). All companies must maintain two essential registration systems: the Real Beneficiary Register (RBR) and the Partners or Shareholders Register (RBR). Being covered by the Economic Substance Regulations (ESR) is another requirement that companies must confirm. Businesses subject to the ESR must perform notification filings and report their activities while satisfying economic substance criteria.
The companies must abide by both Anti-Money Laundering and Combating Financing of Terrorism (AML-CFT) laws. Companies that fail to comply will face both substantial monetary penalties and severe damage to their business reputation. Organisations that undergo liquidation within Ajman Media City must fulfil all existing regulatory requirements. Business setup services in Ajman assist clients in adhering to federal and local business regulations.
Final Words
Ajman Media City Free Zone company formation offers investors and entrepreneurs various business expansion opportunities within the UAE through flexible frameworks. Its setup framework for flexible company structures, together with open foreign ownership, budget-friendly package tiers and diverse business choices, makes it a platform which supports development across all scales. Through its user-friendly setup process, Ajman Media City enables successful business formation regardless of your company size.
Are you interested in launching your business within the Ajman free zone but need help with your first steps? At Xpert Advisory, we simplify the entire process for you. Our business setup consultants manage your whole company formation process within the free zone, starting from package selection up to paperwork compliance. So, contact us now and launch your Ajman Media City Free Zone business setup with confidence!
FAQs
Can I Establish My Business Setup in Ajman Media City Free Zone Without Local Sponsorship?
Yes, starting up a business in Ajman Media City Free Zone requires no local sponsor.
How Much Time is Required to Set Up a Company In Ajman Media City?
Setting up your business in Ajman Media City Free Zone takes between 1 week and 3 weeks.
Can I Shift My Company Between Various UAE Free Zones?
Moving your business between tax-free zones is prohibited according to free zone regulations. The creation of your existing company’s branch is allowed when you select any free zone destination.
