Ajman, UAE: The newly established Ajman NuVentures Centre Free Zone (ANCFZ) has attracted over 450 companies in less than two months since its launch, according to a report by Khaleej Times. The free zone, which promises quick and efficient business setup services, has seen a rapid influx of entrepreneurs looking to capitalize on its tax advantages and streamlined processes.

Speaking to Khaleej Times, the Chief Executive Officer of ANCFZ highlighted the zone's quick turnaround time for company registrations. "Opening a company usually takes three to four days. Getting a visa would take another 15 to 20 days. But we give the client a licence in two hours. With all the compliances in place, we give you a visa within 48 hours, whereas others take 14 to 15 days. This is our promise and we fulfill it," he said.

The free zone has reportedly issued licences for over 450 companies, with each licence typically being processed in as little as 15 minutes to an hour.

ANCFZ offers a range of services, allowing businesses to engage in all activities permitted under UAE law. Among the key features of the free zone are 100% foreign ownership, 0% income tax for up to 50 years, and the option for quick same-day company incorporation without requiring physical presence in the UAE.

The free zone also allows companies to engage in up to 10 different business activities, expanding the scope for international trading, e-commerce, and emerging sectors such as cryptocurrency, metaverse, and social media blogging.

Streamlined Services

With a range of business activities supported, including video gaming, cryptocurrency, e-commerce, and social media content creation, ANCFZ has positioned itself as a one-stop solution for a variety of industries. The zone's simplified licensing process and minimal compliance requirements further add to its appeal, especially for international businesses.

For new investors, the free zone is offering early bird pricing and a 30-minute free consultation with in-house legal experts to guide through the setup process.