Revolutionising business: Ajman Free Zone offers rapid licences and visas

The Ajman NuVentures Centre Free Zone (ANCFZ), the newest free zone in the UAE, has successfully attracted over 450 companies within just two months of its launch, reported Khaleej Times.  

According to Rishi Somaiya, CEO, Ajman NuVentures Centre Free Zone, during an interview with Khaleej Times, he said: “We’ve only been operating for two months and our progress has been remarkable. We currently host over 450 companies across various key sectors. It’s similar to airlines; there are many options, but Emirates stands out due to its service, quality, punctuality, and excellent amenities. Customers are willing to invest in what they value.”

While highlighting the fact that UAE remains an attractive destination for foreign direct investment (FDI) and businesses due to its low taxes, liberal regulations, safety, lifestyle options and the Golden Visa long-term residency programmes.

“For only Dh15,000 to Dh20,000, where else in the world can you start a business and receive a residency permit? Nowhere. This is why people are flocking to the UAE, and this trend is likely to continue. The UAE’s strategic location, in close proximity to the subcontinent, Europe, and Africa, combined with strong connectivity via Emirates, Etihad, and flydubai, makes it easy for individuals to relocate from any part of the globe,” he added.

Somaiya noted that free zones in the UAE have significantly contributed to the growth of the non-oil economy, attracting international companies while fostering the expansion of local businesses. Unlike other free zones, which often have large infrastructures and cumbersome bureaucracies, ANCFZ, situated in central Ajman, operates entirely digitally for streamlined setup processes. This means investors can complete applications without any requirement to print documents; they can sign everything digitally from their homes.

“At NuVentures, we handle the entire application process. Our team prepares the necessary forms and keeps everything organized. Once ready, we send it to the client for signature, verify the information, and manage the process on their behalf. We do not expect clients to take care of these details themselves.”

Licenses are issued in just 15 minutes, and visas can be obtained in 48 hours, Somaiya explained. He noted the evolving landscape of global business, where influencers can have more followers than major publications, and where young entrepreneurs can become billionaires through cryptocurrencies within a short span. Advanced technologies like blockchain, artificial intelligence, and the metaverse are also reshaping the business world.

He said typically, obtaining a business license could take three to four days, with visas taking an additional 15 to 20 days. However, they issue licenses within two hours and, with all compliance requirements met, the visas are provided in 48 hours—much quicker than the usual 14 to 15 days. We’ve successfully issued all licenses for our 450-plus companies in 15 minutes to one hour,” Somaiya stated.

Regarding offered services, the new free zone provides licenses for a range of activities permitted under UAE law, including gaming, blockchain, and AI. As the gaming industry continues to grow, ANCFZ is focusing on licensing gaming software developers.

Regarding pricing, while some free zones charge Dh12,000 for a single shareholder visa and one license activity, ANCFZ provides 10 activities and unlimited shareholders for Dh12,000. An upfront payment offers a 10% discount, bringing the total to Dh10,800, and there is also an installment plan available. For this price, clients receive a company license with 10 activities and a visa valid for two years within 48 hours.

Somaiya added that companies licensed through ANCFZ can open their accounts within a week to ten days, thanks to partnerships with several local banks.

“The world is evolving. Twenty-five years ago, job seekers were the norm; now, aspiring entrepreneurs are the focus from the outset, and many young individuals have innovative ideas due to extensive exposure,” he concluded.