Doing business in Ajman Media City Free Zone (AMCFZ) in 2022
Since 2003, Healy Consultants Group PLC assists our multinational Clients with business set up in the UAE, including in the many free zones.
Advantages of setting up a business in Ajman Media City Free Zone
- 100% foreign ownership.
- 100% repatriation of capital and profits.
- No corporate or personal income tax.
- Multiple business activities permitted under a single business licence.
- No paid-up share capital requirement (although the minimum authorised share capital required is Dhs100,000).
- Ajman Media City business set up costs are lower than other UAE free zones. For example, a business licence can be obtained for just US$2,400.
- The entity can be incorporated within 24 hours of submitting all required documents to the free zone authority.
Disadvantages of setting up a business in Ajman Media City Free Zone
- To comply with UAE economic substance requirements, all Ajman Media City Free Zone companies conducting ‘relevant activities’ must have a physical office in the free zone before it can be incorporated.
- To open a corporate bank account for the Ajman free zone company, the bank will require the business owner to be a UAE resident and show a lease agreement as proof of residency.
- Local banks require the Ajman free zone company to maintain at least US$13,615 (Dhs50,000) in the account each month to keep the account active.
Best uses of an Ajman Media City Free Zone company
- Ajman Media City Free Zone company set up is ideal for media companies wishing to access Dubai, UAE and regional Middle East markets. The Free Zone caters to i) media and social media companies ii) marketing and consulting companies iii) publishing houses iv) radio broadcasters v) telecommunications services providers vi) FinTech firms vii) e-commerce firms and viii) online traders.
- Unlike other UAE free zones, Ajman Media City Free Zone issues business licences to practically all trading startups, including professional and industrial firms. This makes it ideal for innovative startups and entrepreneurs.
Healy Consultants Group PLC will assist our Clients throughout the entire licence application including i) assistance with selecting the appropriate category of activity ii) approval from the General Directorate of Residency and Foreigners Affairs iii) approval from Ajman Chamber of Commerce and Industry and iv) approval from any other federal or local departments as required.