Mubasher: Sheikh Abdul Aziz bin Humaid Al Nuaimi, the chairman of Ajman Media City Free Zone (AMC), announced removing the mandatory e-channel deposit for the entrepreneurs establishing businesses in the AMC.

The decision is a significant boost for investors to improve the business environment, facilitate the initial investment and set-up policies, while positioning the country as a hub to world-class entrepreneurs, according to a press release on Tuesday.

In this regard, Al Nuaimi said, “eChannel is a system designed for companies which pay deposit of AED 5,000 per annum plus AED 2,200 on an annual basis to maintain their immigration file, a mandatory process for all investors in the UAE.”   

Therefore, the new customers investing in the profitable UAE market will now be able to start their business at a great lesser cost, unlike before.  

Al Nuaimi further added that the management will continue maintaining a highly productive environment to the global customers at low costs through the promotion of competitiveness and customer-friendly initiatives, elevating the UAE as an investment destination.