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UAE – Ajman Promotes Its’ Free Zone To The Russians

World Trade

Open Eyes Opinion {source: WAM}

Moscow, 30th March, 2015  – Ajman Free Zone Authority gave a presentation on the advantages of setting up a company in this dynamically developing Emirate of the UAE to the Russian business community and potential investors at Sheraton Hotel in Moscow.

Mr. Nader Eldesouky, the Deputy Director of Ajman Free Zone Authority, led the keynote address followed by a detailed presentation by Mr Rishi Somaiya, Director of the Sales Dept, to over a hundred members of the Russian business community as well as with the leading business media titles.

The presentation outlined the advantages of setting-up a business in the UAE, particularly in the Ajman Free Zone and was followed by a very active discussion and questions from potential investors and partners, among which were organizations like Russian-Arab Business Council, the Russian Chamber of Commerce, the Agency for Strategic initiatives and the Russian Union of Industrialists and Entrepreneurs.

Mr. Nader Eldesouky, Deputy Director of AFZA, stressed on the importance of the Russian market for Ajman Free Zone with Russia being one of the top five investors to the Zone along with companies from the UK and China, with India and Pakistan taking the lead.

Today over 7000 international companies from 150 countries operate in Ajman, and about 10% of them are of Russian origin. Mr. Rishi Somaiya, Director of Sales Department of AFZA, added that Ajman already has an existing Russian community in the Emirate that continues to grow, as more Russian investors come to the region and to the Free Zone in particular.

One of the seven emirates, Ajman is strategically located in the center of UAE, with easy access to the country’s key ports and airports. The commercial capital of the UAE is just 35 km or 25 min drive. Since January 2012, the world’s largest port operator, Hutchison Whampoa Group, is managing the port of Ajman, which is now expanding at an exponential pace. Plans of a state-of-the-art international airport in Ajman have been announced.

There are 36 free economic zones in the UAE, but Ajman is the only downtown free zone. Established in 1988, it ranks in the Top 3 zones in the UAE. Obtaining a license for setting up a business in Ajman Free Zone takes only 2 hours. The zone offers a wide range of licenses, including commercial licenses for trading companies, service license and industrial licenses. In 2012 AFZA registered 25% more companies as compared to 2011.

The main advantages of running a company or a business in the Free Zone include: exemption of all import and export duties, personal income or corporate taxes, with no charges or hidden fees, 100% foreign ownership of your business along with 100% repatriation of capital and all profits, low labour cost, as well as low energy cost, 40 year guarantee of tax and custom free operations with 20 years land contract renewable for another 20 years.

For companies involved in import-export business, one of the most attractive opportunities offered by Ajman Free Zone is a wide range of warehousing units and facilities, starting from 100 square meters (Smart Warehouse). For small businesses, the Zone offers flexible “smart offices” which are low cost and include a license with virtual office space.

The cost of the first installment for setting up a smart office starts from as little as $ 555 per month. Such flexible payment packages make it easy for businesses to enter the market without burdening their cash flow.

Ajman has a modern and constantly developing infrastructure including networks of road and bridges, parking lots, conference facilities, five star hotels as well as shopping malls with a selection of international brands available.

The Emirate of Ajman also has a vast stretch of beaches, which is appreciated by an international community of local residents, Russians included. The Ajman real estate offer includes luxury apartments and villas at extremely attractive prices.

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Please visit Ajman Free Zone Authority    http://ajmanfreezone.ae/en/

Video, Ajam UAE posted to Youtube by Kirill Neiezhmakov

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