Business EconomyPosted at: Nov 12 2025 9:15PM


UAE's ANCFZ emerging as global SME powerhouse, 45 pc companies owned by Indians: Official

Bengaluru, Nov 12 (UNI) The Ajman NuVentures Centre Free Zone (ANCFZ), one of the UAE’s youngest business hubs, is rapidly emerging as a global SME powerhouse, with nearly 45 percent of its companies owned by Indians, said a top official here.
The Free Zone, located in Ajman, added 500 new companies in the past two days and has completed its first year with over 7,000 registered firms.
Addressing media persons in Bengaluru during the Free Zone’s maiden India tour, ANCFZ CEO Rishi Somaiya said the Free Zone is firmly anchored in its India connect. It has drawn investors from more than 150 nationalities, with nearly 45 percent of its companies owned by Indians.
It has positioned itself as a launchpad for small, medium and digital-first enterprises, and has become a preferred base for startups in artificial intelligence, blockchain, gaming and digital media creation.
Somaiya said the initiative reflects the deep and historic business ties between India and the UAE. “We are not new to India. I was in Ahmedabad 23 years ago working with another free zone, and Indians have always been the largest business community in the UAE. When we started Ajman NuVentures a year ago, the highest number of companies came from India.”
Somaiya said ANCFZ was built to empower small and medium entrepreneurs who drive global innovation. “While large free zones like Jebel Ali cater to Fortune 500 firms, our focus is on emerging businesses — the companies that could be unicorns tomorrow. There are only 500 Fortune companies, but millions of SMEs. We want to empower that larger ecosystem,” he said.
Highlighting its digital-first model, Somaiya said ANCFZ operates entirely paperless, using digital signatures via DocuSign and online verification. “Company formation takes only 15 to 30 minutes, with documents processed online. Investors only need to visit Ajman once for a medical test related to residency,” he said.
He added that the Free Zone’s streamlined process includes a full suite of international business documentation — from incorporation certificates and board resolutions to bank letters and visa support — all essential for opening corporate bank accounts. “There are no hidden costs. What you see is what you pay,” Somaiya said.
Since its inception, ANCFZ has created about 24,000 jobs through firms registered under its platform. Nearly 90 to 95 percent of the companies are already operational, while the remaining are in the process of launching operations. “None are dormant. The momentum is visible and continuous,” he said.
Somaiya said tangible economic indicators such as GDP contribution and FDI inflows will become clearer by the third year.
“We were at 6,500 companies in Delhi two days ago, and now we are already at 7,000. The pace speaks for itself. In the third year, we’ll have measurable data on GDP and investment impact,” he stated.
Referring to India’s technology-driven ecosystem, Somaiya described Bengaluru as “the back office of Silicon Valley.”
He said, “Seventy to eighty percent of American business is supported from this city. India is the world’s most populous and deeply entrepreneurial country, and we are here to facilitate its businesses to expand to the UAE and beyond — into European and American markets.”
On regulatory oversight, Somaiya clarified that ANCFZ operates under a system of accountability while maintaining ease of business. “We have the Central Bank, immigration, and banking systems monitoring compliance. The philosophy is to say ‘yes’ wherever possible, but scrutiny is applied when required. There is full freedom, but not without responsibility,” he said.
He also revealed that ANCFZ is in talks with several major Indian conglomerates to set up back-office operations in Ajman. “These discussions take time because of multiple approval stages, but announcements will follow soon,” he said.
Earlier, Sheikh Mohammed bin Abdullah Al Nuaimi, Chairman of ANCFZ, said the milestone reaffirms Ajman’s standing as a thriving business hub aligned with Ajman Vision 2030.
“Surpassing 6,500 company formations within one year demonstrates the confidence entrepreneurs place in Ajman’s forward-thinking policies and our digital-first model,” he said.
Established through an Emiri Decree in 2024, ANCFZ offers business licenses within two hours, visa processing within 24 hours, and comprehensive administrative support. Strategically located 25 minutes from Dubai and Sharjah International Airports and three kilometres from Ajman Port, it offers seamless air, sea, and road connectivity across the Middle East, Africa, and Asia.
With flexible multi-sector licenses and all-inclusive packages starting at AED 10,800, ANCFZ is fast positioning itself as one of the UAE’s most entrepreneur-friendly free zones — accelerating Ajman’s transformation into a global hub for startups, digital innovators, and small business growth.
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