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Company setup in AMC, Ajman

State dutyloading

Terms days

This company can engage in the sale of all types of goods, products and goods (except for those that need to obtain special licenses for this), for example jewelry and gold, education, health and beauty, petrochemical and chemical products, media, tobacco, food and beverages, fertilizers and pesticides, bank and insurance money exchange and money transfer, advance technology, security equipmentand protection systems trading and all services, industrial and e-commerce activities.

About the company's activities

Types of activities

The following business activity has been selected for the AMC company setup:

General Trading (Non-Specialised Wholesale Trading) (4690010). Includes trading of all types of goods, products and goods (except for those that needto obtain special licenses for this), for example jewelry and gold, education, health and beauty, petrochemical and chemical products, media, tobacco, food and beverages, fertilizers and pesticides, bank and insurance money exchange and money transfer, advance technology, security equipmentand protection systems trading and all services, industrial and e-commerce activities.

The company can engage in up to five business activities under one license without additional fees.

Additional External Regulator Approvals

No additional approvals are required to register a company conducting this business activity.

Share Capital Requirements

The minimum share capital required for AMC company is AED 10,000. Its contribution is optional.
If the share capital exceeds 100,000 AED, its contribution becomes mandatory.

Company name requirments

Must not violate the country laws or contain words that are obscene, indecent or generally offensive
Must not contain the names of Allah, Buddha or God, or any other religious terminology
Must not infringe any third party's intellectual property rights
Must not be identical or similar to local/global brands or registered trademarks
Must not contain geographical names, such as the names of emirates, cities, countries and other landmarks
Must not contain the names of local/international religious, political or governmental organizations
Must correspond to the company’s business activities

Bank Account

Entrepreneurs can open corporate accounts in traditional banks with physical branches, as well as in digital banks and payment systems.

When choosing a bank to open a corporate account, consider the following: service level, fees, available currencies, online banking performance, bank reputation, as well as other conditions that may be important for your business.

Successfully opening a corporate bank account requires a well-prepared documentation package, which may vary depending on the specific requirements of each bank. Documents submitted incorrectly or incompletely may negatively affect the bank's final decision in processing the application.

About Jurisdiction

Name and Description

Title: Ajman Media City Free Zone
Description:
AMC (Ajman Media City Free Zone) is a free economic zone (free zone) established in 2018 in the Emirate of Ajman, UAE. It was created to support and develop companies in the fields of media, trade, e-commerce, and consulting, providing a favorable environment for entrepreneurs and organizations operating in these industries.

The free zone offers a variety of infrastructure solutions, including modern office spaces and coworking areas, tailored to the needs of companies of various sizes. Businesses registered in AMC are permitted to operate both within the free zone and beyond the UAE.

AMC issues the following types of business licenses:
- Commercial (trade)
- Professional (provision of services)
- Media
- E-commerce
- Freelance
With its specialization and support for key sectors, AMC has become an attractive choice for startups, small and medium-sized enterprises, and large corporations aiming to strengthen their presence in the dynamic business landscape of the region.

Tax regime and income management

The UAE has several taxes and fees that regulate the financial activities of both legal entities and individuals. Below are the main ones.
1. Value Added Tax (VAT)
  - Since January 1, 2018, the UAE has implemented a VAT rate of 5%, which applies to most goods and services and is charged to companies operating within the country, except for those registered in designated zones.
  - A Designated Zone is a territory within a free zone that is treated as outside the UAE for tax purposes, allowing goods to be exempt from taxation, provided certain criteria are met. The main taxation rules in Designated Zones are as follows:
  - For local companies and those registered in Non-Designated Zones (free zones not included in the Designated Zones list), the standard tax rules set forth in the Federal Decree-Law on VAT apply.
2. Corporate Tax
  - As of June 1, 2023, the UAE has introduced a corporate tax at a rate of 9%, levied on the taxable net profit of companies with income exceeding AED 375,000.
  - A 0% rate is applied to taxable income not exceeding AED 375,000.
  - Charitable, non-profit organizations and medical institutions are fully exempt from corporate tax.
3. Excise Tax
  - Since October 1, 2017, the UAE has introduced an excise tax aimed at reducing the consumption of harmful products and funding healthcare initiatives. The tax applies to alcohol, tobacco products, and beverages containing added sugar, including energy drinks and carbonated beverages.Excise tax rates vary depending on the product category:
  - Companies dealing with excise goods must register with the Federal Tax Authority (FTA), submit monthly declarations, and maintain records. Excise tax is paid upon the import, production, or release of goods for consumption in the UAE.
4. Customs Duties
  - Custom duties in the UAE are applied to most imported goods at a standard rate of 5% of the cost, insurance, and freight (CIF). Exceptions include certain categories of goods, such as medicines and food products, which may be exempt from duties or subject to a reduced rate.
  - Goods imported into UAE free zones are generally not subject to customs duties as long as they remain within these zones. However, when such goods are transferred to the UAE mainland, standard duties apply.
5. Personal Income Tax
  - In the UAE, personal income is not subject to taxation.
  - UAE citizens and residents are exempt from paying taxes on their personal income, including salaries, interest, dividends, inheritances, gifts, luxury goods, and capital gains.
6. Local Taxes and Fees
  - Individual emirates may impose specific local taxes and fees in line with their economic and social needs. These taxes and fees are aimed at supporting public services and implementing infrastructure projects.

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