The Ajman Media City Free Zone (AMCFZ) has decided to abolish all security deposits related to the visa process for new companies.
The Ajman Media City Free Zone (AMCFZ) has announced a range of packages for potential business owners including the decision to abolish all security deposits related to the visa process for new companies.
As a first step, the AMCFZ is entering strategic alliances with organisations in key markets such as India and Egypt.
Speaking ahead of the official launch, Chairman Sheikh Abdul Aziz bin Humaid Al Nuaimi said: “Globally, entrepreneurs and SMEs are widely considered to be vital to national economies. We are committed to supporting these business investors and offering easy and cost-effective services, which will help this sector and also boost the UAEs rankings in the global business destination list.
“We want new business owners to receive significant cost advantage and make it easier for them to set up a new business in the UAE. This decision is one of the several advantages we offer to support the creative, media and entertainment industry,” stated Sheikh Abdul.
“We have identified key issues a potential investor faces when setting up a new business such as the cost of doing business, set-up costs, the regulatory requirements, and their expectations such as the availability of a long-term sustainable framework, which allows them to set up, operate and function with ease,” he added.
Outlining recent developments and collaborations in the international markets, Mahmoud Khalil Al Hashemi, the Executive Director of the AMCFZ, said: “In India, we have successfully created long-term alliances with two of the largest media conglomerates, The Times of India and Hindustan Times. An MoU has been signed with The Hindustan Times already and the second MoU with the Times of India Group will be finalised soon.
“As part of the collaboration, the AMCFZ will identify value propositions, projects and events that can be localised for the UAE market and be brought to Ajman,” said Al Hashemi.
“Similarly, Egypt is a key market for the Ajman Media City, AMC, as the country is a pioneer in the business of media and entertainment in the MENA region,” he added.
Al Hashemi pointed out that over the next few months, the AMC will engage with other key markets and organise a series of road shows and business visits to strengthen ties with regional countries.
“The free zone is receiving a very positive response from the key international markets already. The unique services offered by the AMC will support the economic growth of Ajman and also enable the emirate to play a bigger and more significant role in bringing a substantial economic boost to the UAE,” he added.