Formed in 2014, the Ajman Offshore Jurisdiction is one of the latest in this domain. The cost to set up an offshore company in Ajman is the least and the time taken to complete the process is the least.
A minimum of one shareholder is mandatory. Corporate shareholders are allowed. Shareholders meetings should be done periodically (at least once a year).Minutes of the general meetings shall be maintained.
A minimum of two directors are required. Corporate directors are not allowed. The number of directors shall be fixed by the memorandum and articles of association.
It is mandatory to appoint a secretary for all the secretarial and administrative works. The authority allows the director to assume the role of secretary a well.
A company must keep documents on its economic activity to the extent that enables directors to determine the financial position of the company.
Audit is not mandatory and accounts are not required to be filed with the Ajman authority.
A registered agent should be appointed whose address shall be used as the registered office address of the company.
There is no minimum share capital requirements.
An Ajman offshore company cannot invest in UAE companies in the mainland of free zones. Investing in the shares of other companies by becoming a holding company is allowed.
Purchasing real estate is permitted in the designated freehold areas with approval of the authority.