Chennai, Sep 19 (IANS) With 100 per cent ownership, zero corporate and personal tax, licences in two hours and other facilities, Ajman Free Zone in the UAE is targeting Indian e-commerce players and small and medium enterprises to set up operations, an official said.
Ajman is one of the seven emirates of the United Arab Emirates (UAE).
“We are looking at Indian e-commerce, trading and professional services companies to set up operations in the Ajman Free Zone,” Rishi Somaiya, Director of Sales, told reporters here on Monday.
He said for those setting up operations in the Ajman Free Zone there is no legal compulsion to have a majority local partner. Indian investors can own 100 per cent of their companies and need not pay any corporate or personal income tax.
Somaiya said 100 per cent repatriation of capital and profits are allowed.
According to him, for trading and professional services players, different kinds of office spaces are available. For those wanting to set up manufacturing units, land on 20-year contract, renewable by another 20 years, will be made available.
“With a large Indian diaspora residing in the UAE and across other Gulf Cooperation Council countries, India and its business community is of strategic importance to us,” said Mahmood Al Hashemi, General Manager.
Officials said the Ajman Free Zone also offers smart warehouses of sizes as low as 100 square metres.