Ajman Media City Free Zone
Ajman Media City Free Zone Overview
Ajman Media City Free Zone (AMCFZ) is one of the most famous Free Zone in the whole of United Arab Emirates. The Ajman Media City Free Zone came into existence in 2018 and has since then made a huge impact on the market thanks to its affordable packages and great extended support to its investors and the people operating in the area.
This free zone is located in the Emirates of Ajman and has a very strategic location which makes it a viable option for a lot of investors. The Ajman Media City Free Zone is only a 40-minutes drive from Dubai and is adjacent to a sea port, which enhances the business opportunities; from freelancers to light manufacturers and trading companies.
Furthermore, AMCFZ is also famous for offering competitive fees which has been the sole reason for many of the young entrepreneurs to establish their businesses here. The Free Zone also offers a vast range of instalment payment plans.
Benefits of Ajman Media City Free Zone
Each Free Zone has its own unique identity and offers different facilities to attract the investors and people to set up their businesses in the particular free zone. Here are some of the benefits which makes Ajman Media City Free Zone a reliable choice:
- Free from most of taxes
- Presence of clients is not needed at the time of incorporation
- Companies can decide minimum share capital according to their requirement
- Business packages are available from Business Club Package (cost AED 8,500) to Gold Package (cost AED 25,500)
- Payment can be made via credit card, debit card, cheque and cash
- Business activities can be changed later
- Opening of corporate bank account
- Company owner is allowed to apply for dependent visa for family
- Existing visa can also be used to start a company
- Company will be registered with designated office and building number in AMC Free Zone
In addition to this, the free zone also offers complete foreign ownership along with repatriation on capital invested and profits gained. The best part is that Ajman Media City Free Zone also does not require a NOC.
Ajman Media City Free Zone Facilities
The free zone is located in a brand new complex, which is not only a great selling point but also enhances the working experience. There are a number of headquarters and business centres for the companies to get their work done. The facilities include the following things:
- 10 hour a month desk space
- Permanent desk space (permanent)
- Shared offices (permanent)
- Quality executive offices
Unlike many other free zones, Ajman Media City has put a restriction on the type of activities that can be conducted under their contract. Most of the activities are related to Media, Advertisement, and IT Segments.
The Ajman Media City Free Zone business activities have been broken into three types:
- Service / Consultancy
- Media Related Trading
Under this free zone law, there can be a total of 5 activities which can be allowed under 1 license; these activities do not have to be related to each other in order to qualify. Most noticeable activities include social media influencer, courier activities, legal activities, and temporary employment agency activities etc.
Unlike other free zones, you can mix commercial and service activities in Ajman without extra cost. However, all the activities must be complimenting the main line of business and should remain coherent to the brand value and/or identity.
Note: At least one of the activity must be media-related
Business Setup Cost in Ajman Media City
The Ajman Media City Free Zone offers great competitive prices for the young entrepreneurs and they can start from as low as 5,000 AED per license. Remainder of the packages’ cost entirely depend on the visa allocations and business activities.
The breakdown of various packages is as following:
- 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 Accounts)
Furthermore, there is also a Platinum Package, which is only applicable to companies that require more than 5 visas and a larger office space.
Note: The above mentioned prices do not include VAT Charges, Innovation Fee, and Company Name Approval.
In order to open resident visas under the company name, it will be additional charges depending on its category. The additional payments to be made for resident visas are:
- E-channel deposit 5,000 AED
- E-channel registration fee 2,100 AED
- Visa, Medical checkup and Emirates ID 2,800 AED
Company Formation in Ajman Media City
Ajman Media City Free Zone offers great ease of business as the company formation application can be handled remotely. The application process does not require the investors or the company board members to be present.
Depending on the nature of the business, its activities, and your business plan, the steps towards company formation can differ but for the most cases, your application must consist of the following things:
- Application form which is completed with correct information
- Passport photocopies of the owner(s)
- Two passport size pictures with white background
- At least 3 company name options
- Proof of share capital, as required
- Residential address
- Telephone number and email address
The authorities normally take up to 3 business days to process and verify the documents submitted. Upon successful verification, you will receive the following documents:
- Certificate of Incorporation
- Commercial Registration
- Lease Agreement
- Salary Certificate
- Good Standing Certificate
- Chamber of Commerce Certificate
- Share Certificate for FZE and FZC
- Memorandum of Incorporation (for FZE) and Memorandum and articles of association (for FZC)
- Tenancy contract
Note: On basis of these documents, the investors will also be able to apply for opening of a corporate bank in Dubai.
Companies adopting any of these packages have the facility to adopt company formation of its choice. Following are the types of companies allowed in Ajman Media City Free Zone:
- Free Zone Establishment (FZE)
- Free Zone Company (FZC)
- Brach of a Local Company
- Branch of a Foreign Company (BFC)
Note: It is very important that you re-check the information provided to the authorities regarding your company formation application as any wrong information can lead to months of delay; it is better to avoid the tedious processes!
Ajman City Trade License
Ajman Media City Free Zone permit begins from 8,500 AED. Such bundle has no visa qualification, but still offers a workspace for the business clubs. It implies that this free zone is offering the least expensive zero visa arrangement all over UAE now.
Renewal of Trade License
Like company registration process, the trade license renewal in the Ajman City can also be done remotely through a registered agent. Following things will be needed in the case of renewal, however:
- Authorization letter
- Renewal fees (same fees as license registration)
Each free zone has its own rules and regulations when it comes to liquidating the license. The license liquidation fees in Ajman Media City is 1,800 AED and requires the certain steps to be followed.
The liquidation can be done by the owner or the representative holding the Power of Attorney. However, all the original documents will need to be handed back to the free zone and if any documents are lost / missing then a police report must be filed as missing proof.
- Visas cancellation
- Establishment card cancellation
- Termination of lease
- Liquidation of the license
The liquidation can take up to 1 month, after which the owners will receive an official letter which will contain the de-registration confirmation.
Note: If any deposits were made under the company’s name, you will be eligible for a refund after the company has been successfully liquidated.
The resident visas fees in Ajman Media City Free Zone are relatively lower than other free zones, which gives it a competitive edge. The two types of visas being offered are Investor Visas and Employee Visas. The breakdown for both categories is as following:
- Investor Visas
- Visa Fees: 1,945 AED
- Medical Checkup: 690 AED
- Emirates ID: 390 AED
- Employee Visas
- Visa Fees: 1,945 AED
- Medical Checkup: 690 AED
- Emirates ID: 390 AED
The actual process of it all is identical to a number of other free zones:
- Apply for Establishment card.
- Upon receiving Establishment card, apply for eChannel.
- Following eChannel, apply for Entry permit.
- On issuance of Entry permit, conclude Medical Test & Emirates Identity application.
- Stamping of Residency permit in passport.
Emirates ID and Health test charges are separate and need to be paid directly at the respective department
Visa Requirements for Ajman Media City
- Online printed application with barcode/ reference number signed and stamped by signatory authority
- Immigration application form typed by Ajman Media City Free Zone typing section located in Visa & Residence Dept
- Trade License copy
- Establishment card copy
- Two clear passport copy, with a validity of minimum 6 months
- Three recent passport size photographs (white background)
- Educational Certificate if required, must be attested by the U.A.E Consulate of their respective country of Origin followed by the Ministry Of Foreign Affairs in U.A.E.
It is worth pointing out that not all countries have it easy when it comes to applying for visas. For instance, there are some countries which might find it difficult to get the visas, which include: Iraq, Syria, Palestine, Egypt, Lebanon, and Bangladesh; if you belong to any of these countries then you might want to be aware that the process might be slightly more tedious as Ajman City has termed these countries as high risk countries. The citizens from the high risk countries need to undergo an extra process which is called the pre-approval process, which require additional documentation such as education certificates, previous UAE visas, and other GCC country residency visas.
Since amendments such as share transfer is a sensitive matter, it almost always requires physical presence of the investors, stakeholders, or the parties involved. However, there is a way through which you can authorise a representative to take your position and have it processed remotely from your end.
Instead, it can all be processed remotely. One of the attracting features of this free zone is that it does not take a lot of time to process the amendments and the prices are extremely low as well as compared to other free zones; ranging from 500 AED to 2,000 AED.
How Riz & Mona can assist
- We will provide wide-ranging services from translation and attestation of documents to approval of visa and registration of company
- We will handle all types of issues and problems (legal, official etc.) during company registration process in Ajman Media City
- We will provide full support even after formation of company in Ajman Media City
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