It is usually considered that best place for media-related companies is countries with democratically elected governments. But the latest advancement in UAE media industry proves that this absolute monarchy state provides more facilities to media industry then many democratic regimes. One such facility is the presence of free zones in various emirates exclusively for media industry. Dubai Media City and Shams free zone are operating in Dubai and Sharjah respectively since past several years. Now, Ajman has also entered this list with the establishment of Ajman Media City Free Zone (AMC FZ). It is the latest free zone in UAE dedicated to media-related companies.
The decree for establishment of Ajman Media City Free Zone was issued by Ruler of Ajman Shaikh Humaid bin Rashid Al Nuaimi in November 2015. Now, this exclusive free zone has become operational and opened for media-related companies. There are several features that distinguish Ajman Media City Free Zone from several other free zones in UAE. Few important characteristics of AMC FZ are given below:
- This new free zone is free from personal tax, corporate tax and several other types of taxes
- The presence of partners and shareholders is not required at the time of incorporation
- Minimum recommended share capital is AED 50,000. But it is not mandatory and can be decided by the company
There are total 4 packages offered for companies to be established in the said free zone. These include:
- Business Club
- Bronze Office
- Silver Office
- Gold Office
It is the most basic type of package with the availability of desk space with usage of 10 hours per month for client. These companies are not eligible for visa. Such companies are allowed maximum 5 commercial activities and 5 service activities. The cost for total package is AED 8500 while the grand total fee (after inclusion of VAT, Name Approval and Innovation Fee) is slightly more than AED 8,800.
The holders of this package will be provided with a shared permanent office. These companies can have a free zone status with the eligibility of one visa. Most of other facilities will be similar to that of Business Club package. Total annual charges are AED 11,500 and the grand total will become slightly above AED 11950.
The major difference between Silver Package and Bronze Package is the availability of two visas in the former (as compared to single visa in bronze package). Most of other facilities will be same. Total package cost is AED 14,500 and the grand total fee is around AED 15,100.
It is the most premium package of all. Opening a company with this package will allow several benefits that are not available in any other package. These companies are eligible for 5 visas and will be provided with an executive office with minimum space of 12 sq. meters. Total cost is AED 25,500, while addition of VAT and other charges will increase this fee to AED 26,555.
Total 4 types of companies are allowed to be established for all these packages. These include:
- Free Zone Establishment (FZE)
- Free Zone Company (FZC)
- Branch of a Local Company
- Branch of a Foreign Company (BFC)
There are different documents required for all these different types of companies in AMC FZ. There is no capital required for branch of a local company and branch of a foreign company. For FZE and FZC, maximum capital is up to AED 100,000.
The AMC FZ company formation process is somewhat lengthy and tiresome. But there is nothing to worry if you want to establish your company in this exclusive free zone. You can make this whole process really quick and simple by contacting Riz & Mona Consultancy via our WhatsApp # 971-56-9971225 or email address email@example.com. We are specialist in free zone company registration in all UAE.