UAE is among the fastest-growing economies in the world. It provides high-standard living, lavish entertainment, breathtaking places to visit, and a plethora of lucrative work opportunities that make it a dream of every investor.
Ajman is not just a traditional Emirate city with natural beauty and offers a home to small and medium-sized enterprises. Therefore, it is one of the most suitable places in the UAE to start a business. Moreover, its strategic location gives access to prime areas and business hubs in Dubai and Sharjah.
Ajman is an ideal location for global investors and entrepreneurs. It offers attractive growth and support. There are vast opportunities for investments like manufacturing, industrial zones, medical, telecommunication, etc.
If you want to start your business in Ajman, there are certain small points that you should not ignore.
Why Should You Start a Business in Ajman?
Ajman is an ideal location for global investors and entrepreneurs. It offers attractive growth and support. There are vast opportunities for investments like manufacturing, industrial zones, medical, telecommunication, and more.
Apart from its breathtaking beauty and a high-end living standard, many other reasons would urge you to start your business in Ajman, including:
- It is the most affordable emirate city in the UAE- you can get any typical shop or apartment for around 25000 AED annually (Compared to Sharjah and Dubai, where the amount spiked to 50k AED yearly).
- In Ajman, you can leverage goods like food, public transport, clothes, education, and healthcare without breaking the bank.
- The strategic location of Ajman Free Zone is easy to reach of four main seaports and two international airports. Therefore, it is appealing for business activities like international trade, shipping, and logistics.
- Ajman is an investor-friendly area that offers business packages and benefits, including 100% foreign ownership, attractive tax benefits, and much more.
Ajman seems like a great city to work and live in, but how do you do that? You cannot certainly just pack your stuff and settle there. You need to think your business strategy through- what if your business goals do not align with the Emirati people?
You would not want to put your money and career at stake. Therefore, to leverage the work opportunities in Ajman to their best, keep reading.
Start your Business in Ajman, the Right Way:
If you have a plan to start a business in Ajman, you should not ignore these points mentioned below:
Study the Formal Business Plan
The first step of starting a new setup is to create a business plan. It is a common mistake people often commit. However, a formal business plan helps you identify issues in your business idea. It also attracts investors and other sources of funding.
If you have a plan to start a business in Ajman, draft a formal business plan with the following points keep in mind:
- Define your proposed product or service
- Mention your overall cost
- Identify the funding needs
- Never miss on your competitors, potential customers, and market opportunities.
- Express the realistic challenges and expected turnovers your business can face
- Do not stress yourself and keep your plan simple and understandable
Define your target audience
Ajman has a diverse culture with different religions, nationalities, and races. Its ideal location makes it an economic gateway between east and west. You should know your customers before you start your business.
For targeting your audience, you need to know the market. Many investors fail as they do not understand their target market- the customer’s expectations and demands. When you search for your audience, you should prepare yourself to meet new customers with different tastes and priorities.
You can target your audience with the help of digital advertising sources like social media. However, you should not forget that traditional advertising methods can help you spread the word about your brand too.
Finding a suitable market and customer depends on your communication skills. And if you find the “market and audience hunt” tiring, you can hire some professional help.
Get a visa
You need to purchase a visa according to your business activity. You will find many business activities in Ajman. Whether you choose to service or manufacture, the government of Ajman supports and provides incentives to promote business.
If you are set up in the Ajman-free zone, it allows you to have multiple visas, and you do not need to lease physical office space.
Be smart with your investment.
Ajman provides opportunities for every size of business. Before starting your setup, you should estimate your capital. If you are going for the free zone option, you can get different packages. These packages are according to your company’s size, scale, and need.
Your network and contacts
Networking plays an essential role in a business. It is not enough to have email introduction and online interaction. In-person meetings are crucial.
Here we have given a few ways to expand your network before starting your business in Ajman. Of course, these are informal methods, but they can affect a lot.
- Ajman is a multicultural place. Therefore, you have the opportunity to meet different people, and you can expand your contacts with your good communication skills.
- If you get an offer to socialize and build your network, always accept.
- Always keep your business card with you and make sure it has Arabic on the other side.
- Know the customs and traditions of the people around you.
- Try to memorize some Arabic words- the better your language is, the easier you can communicate with the buyers and sellers, so learn the language.
Select the region wisely
Before starting your business in Ajman, you need to choose the region of your business. For example, you would not want to set up your business in an area where you cannot survive the competition or target your audience.
You must learn the terms, conditions, and perks. Then, select the place wisely. It should align with your business, capital, products and be closer to the place you live.
Business in Ajman- Consider your Options
When you know the fundamentals to start your business, you can have two options for the regions you can set up your business in the mainland or the free zone.
- Mainland Business Set Up in Ajman
If you want to start your business in Ajman mainland, you need a local sponsor who will own 51% of your enterprise. When you know the thriving market of Ajman, you will consider this local sponsor an opportunity to get access to this market.
The main benefits and features of Ajman mainland business set up are:
- Access to a large market.
- It is an opportunity to scale up your business to trade with other mainland traders.
- There is no customs duty on goods.
- You can invest in the same business activity.
- There is no restriction on the currency.
- You can expand your business portfolio by applying for government tenders and projects.
With mainland companies in Ajman, you can have a large chunk of the UAE market.
- Ajman Free Zone
Free zones are specific regions in all emirates to give complete autonomy to investors. They cover less area than the mainland. Below we have mentioned the free zones in Ajman.
- Ajman Free Zone
- Ajman Media City Free Zone
Ajman Free Zone
Ajman free zone is an ideal place for investors. It provides variant business activities like manufacturing, health and beauty, small restaurants, construction, education, agriculture, and general trade.
Foreign investors and entrepreneurs consider Ajman free zone to start their business set up due to the following benefits:
- You get complete ownership, and you don’t need any local sponsor or partner
- The cost of setting up and operations are lower
- No capital gain or personal income tax
- Strategic location
- Global Reach
- Easy Company Registration
- The facility of multiple visas
- Start-up support packages
- Diversity of business activities
Ajman Media City Free Zone
Ajman Media City FreeZone is an affordable free zone as it provides investors with various economic pursuits and different types of licenses at the lowest price. In addition, media City Free Zone comes up with technological enterprises such as software houses, P.R, and marketing agencies.
There are many perks of working in Ajman Media City.
- There is no need for any NOC.
- Physical attendance or presence is not mandatory.
- You get full foreign ownership.
- No currency restrictions.
- Diversity of business activities.
- No additional fees or charges on-premises.
- Approval of bank account in UAE.
- Ajman Media City Free Zone cost is affordable.
- You can get employment or resident visas for financiers and staff.
- There are no service duties.
- Economical lease charges and competitive tariff structure.
Types of Packages for Start-Up
Ajman provides certain types of packages to encourage entrepreneurs to start their businesses. The popular packages include:
- Freelancer package (If you want to get a freelance visa Ajman, you can choose this package)
- Business Package
- The Executive Office Package
- Bronze Package
- Silver Package
- Gold Package
All the packages come with a visa for trade license, e-channel, establishment card, and office accommodation ( in specific packages).
After COVID19, the world is reviving itself, and UAE is the best example of regeneration for the world. It is happening due to government assistance, simple procedures of business establishments, strategic position, state-of-the-art infrastructure, stable banking services, and global networking.
With natural landscapes and splendid scenery, Ajman is also providing an ideal land for the growth of the business. Choosing the mainland or free zone both have their perks and merits.
If you plan to start your own business, we advise you to take advantage of free zones like Ajman Free Zone Makateb of Ajman Media City Free Zone.
Ajman Free Zone Makateb offers a straightforward application procedure, and you can get your trading license within a day. If you choose Ajman Media City Free Zone, you will experience positive business aspects. Ajman Media City values collaborating and supporting new startups on a restricted budget to ensure complete satisfaction in business operations.
Whatever region you choose, first make your business plan and take your decision wisely. Then, you can contact a consultant for any queries related to business.
Read also – 5 Ways Technology Can Help Grow Your Business