UAE free zone delivers licenses in 15 minutes, visas in 2 days

The Ajman NuVentures Centre Free Zone (ANCFZ), the newest free zone in the UAE, has seen remarkable growth, attracting over 450 companies in just under two months, according to a senior official.

Rishi Somaiya, CEO of ANCFZ, explained that despite the presence of nearly 48 free zones in the UAE, the Ajman-based center differentiates itself by offering exceptional service, quality, and efficiency, much like how Emirates stands out in the airline industry. “People are willing to invest when they know they will get what they need, whether it’s in the form of service or timely execution,” Somaiya said. He further highlighted that the UAE’s appeal to foreign direct investment (FDI) stems from low taxes, liberal regulations, safety, and the Golden Visa residency program, which provides long-term residency for investors.

Somaiya pointed out that for an investment of just Dh15,000 to Dh20,000, entrepreneurs can set up a company and secure residency—a proposition not available anywhere else in the world. The UAE’s strategic location, with easy access to markets in the subcontinent, Europe, and Africa, coupled with solid global connectivity through airlines like Emirates, Etihad, and Flydubai, makes it a prime business hub.

In comparison to other free zones that have vast infrastructures and complex procedures, ANCFZ operates entirely digitally, simplifying the process for investors. Somaiya emphasized that ANCFZ handles all aspects of the application process, including preparing forms, data verification, and document signing, so clients only need to digitally sign documents from home.

Licenses in 15 Minutes, Visas in 48 Hours Somaiya also discussed the evolving nature of global business, noting how social media influencers now have more followers than traditional publications and how young entrepreneurs are quickly amassing fortunes in areas like cryptocurrencies. He elaborated that while establishing a company typically takes three to four days, and obtaining a visa can take weeks, ANCFZ provides a license in as little as 15 minutes and a visa within 48 hours. This is significantly faster than the usual 14-15 day processing time elsewhere.

The free zone offers licenses for a variety of business activities permitted under UAE law, including emerging industries like gaming, blockchain, and AI. Recognizing the rapid growth of the gaming industry, ANCFZ is catering to gaming software developers, enabling them to obtain the necessary licenses to operate. Additionally, the free zone provides flexible office spaces, including co-working and shared office options, to accommodate different business needs.

Competitive Pricing and Fast Processing Regarding pricing, Somaiya highlighted ANCFZ’s competitive edge. While other free zones charge Dh12,000 for a single shareholder visa and one activity license, ANCFZ offers a package that includes 10 business activities and allows for unlimited shareholders at the same cost. For Dh10,800, investors receive a two-year visa and a company license with 10 activities, with the added benefit of a 10% discount for upfront payments. This pricing, along with the quick processing times, positions ANCFZ as one of the most attractive and cost-effective free zones in the UAE.

ANCFZ-licensed companies also enjoy the advantage of rapid bank account openings, with most accounts being set up within a week to ten days, thanks to partnerships with local banks.

Shifting Entrepreneurial Landscape Somaiya noted the changing nature of entrepreneurship, where young individuals, exposed to a wealth of information and resources, are looking to create their own businesses rather than seek traditional jobs. The evolving landscape is increasingly fostering a spirit of innovation and entrepreneurship among the youth, who are quick to seize opportunities in emerging fields.

In summary, the Ajman NuVentures Centre Free Zone stands out in the UAE’s competitive free zone landscape by offering unmatched speed in business setup, competitive pricing, and a fully digital process, making it an attractive destination for global entrepreneurs and investors.