Ajman Media City Free Zone Announces Removal Of E-Channel Deposit Requirement For Investors; Significant Boost And Cost Advantage For Entrepreneurs
Sheikh Abdul Aziz bin Humaid Al Nuaimi, Chairman of Ajman Media City Free Zone announced abolishing the mandatory e-channel deposit for the investors setting up their business in the AMC Free Zone.
Explaining further Sheikh Abdul Aziz bin Humaid Al Nuaimi said: “Improving the business environment, easing the initial investment and set-up policies and strengthening entrepreneurship in Ajman are the main goals for us and help us to further enhance the potential to bring world class entrepreneurs and creative minds to the UAE.
“eChannel is a system designed for companies which pay deposit of AED 5000 per annum plus AED 2200 on an annual basis to maintain their immigration file, a mandatory process for all investors in the UAE.
Ajman Media City Free Zone has taken a decision to the deposit requirement of AED5000, thus giving clear cost advantage to the new customers, who can now set-up their business and gain access in this lucrative market at a much lesser cost.”
“We have received tremendous response to our initiatives of last one year however we are committed to continuous improvement and betterment of our services. By promoting competitiveness and customer friendly initiatives, we are enhancing UAE’s position as an investment destination.
Sheikh Abdul Aziz bin Humaid Al Nuaimi emphasized that the management is committed to maintain an environment to boost productivity and business potential and offer a world class environment at a nominal cost to the global customers.
Ajman Media City Free Zone is the newest free zone in the United Arab Emirates. Headquartered in the Emirate of Ajman, Ajman Media City Free Zone has been formed with the express aim of matching the professional aspirations of individual entrepreneurs and businesses from across the world.