WHAT IS THE IFZA FREE ZONE?
IFZA stands for the International Free Zone Authority, which was formerly located in Fujairah and has moved to Dubai. It is the place you absolutely must know. IFZA is a freelance zone that offers a variety of business-friendly opportunities and services, making it a great choice for entrepreneurs and investors. We will look at what IFZA is, its benefits, and how to get involved. So, if you are looking for an interesting and creative business centre with spacious facilities and helpful staff.
WHY IS IFZA THE IDEAL FREE ZONE TO SET UP A BUSINESS IN THE UAE?
The International Free Zone Authority (IFZA) was formerly located in Fujairah and has moved to Dubai, a rapidly growing business hub in the United Arab Emirates. IFZA is a relatively new free zone in the UAE but has become a favourite among entrepreneurs and investors. Along with Dubai Silicon Oasis (DSO), IFZA has become one of the UAE’s fastest-growing and most popular free zones.
IFZA offers a wide range of businesses, such as services, consulting, trade and industry. Even in IFZA, you can get commercial activities and services under one licence without any problem. There are many reasons why increasing shareholders turn to IFZA to form a company. With a wide range of services introduced by IFZA, it becomes a leading investment hub in the UAE. This also contributes to the better growth of the UAE economy.
IFZA ALSO PRESENTS VARIOUS FACILITIES TO
Investors /entrepreneurs, such as apartments, offices, warehouses and retail stores. The procedure and deadline for setting up a company at IFZA are very simple and easy. Comparing startup costs with other free zones in Dubai, IFZA offers the lowest rates. This is an important reason why IFZA is suitable for small business owners and startups to start a business at a low cost.
Strategically located at the crossroads of major markets, Dubai has become one of the best choices for doing business in the Middle East and globally, providing modern infrastructure and the environment. World-class business.
One of the very important factors in the development of Dubai is the introduction of free trade zones or free zones in the United Arab Emirates. A free zone such as the International Free Zone Authority (IFZA) is a special business area not covered by the UAE Federal Business Companies Law that applies to the business establishment in the United Arab Emirate, maily Dubai. Having our legal jurisdiction allows us to start our business more easily and offers unique benefits to our licensees.
BENEFITS OF SETTING UP A BUSINESS USING IFZA
The main factors that make you choose to set up your company in IFZA Dubai are detailed below. Out of about 40 free zones in the UAE, IFZA is one of Dubai’s most affordable free zones. Licence fees for a new setup in IFZA can start with an annual fee of AED 12,500. This includes only virtual desktop licences and settings. Additionally, you can have up to 12 IFZA visa allocations.
MANY BUSINESS ACTIVITIES IN IFZA
IFZA offers more than 1,000 businesses covering all types of consulting, commercial and industrial activities. In addition, IFZA offers a licence that combines service activities and commercial activities in one licence. In addition, IFZA also offers to hold a business licence to conduct business activities regionally and internationally.
THE FAST AND SEAMLESS BUSINESS SETUP PROCESS
The main advantage of Business Setup In UAE is that all corporate and branch setups can be done online or virtually. IFZA accepts all types of electronic signatures. IFZA only accepts certified copies of passports and business documents for business incorporation. An attorney or solicitor must witness the documents in your country. IFZA does not require any original documents. Also, company documents are optional to be notarized and witnessed by the UAE Embassy in your country. This will save time in the business formation process.
PROMOTIONS AND DISCOUNTS
The IFZA free zone will offer promotions to attract investors and entrepreneurs every month. IFZA is the first free zone in the United Arab Emirates to offer free visas for life. A lifetime visa fee waiver means that IFZA will pay the AED 3,750 visa fee to the competent authority on your behalf. Currently, the free zone visa will only be for two years. In addition, at the time of visa extension, the IFZA will pay the visa fee, and the investor/entrepreneur can focus on business activities. This will continue whenever your visa is due for renewal and as long as you remain with the IFZA company. Currently, another free zone also provides this type of service.
ESTABLISHMENT OF A LIMITED LIABILITY COMPANY
A free zone LLC structure means that the investor or entrepreneur will only be liable to the extent of the capital you have invested in the business. Therefore, most investors prefer an LLC structure in the free zone. Pricing, speed, digital signatures, shareholder pre-approval options, a wide range of business activities, and, most importantly, IFZA has an excellent reputation with UAE banks. So opening a local bank account in the UAE for IFZA businesses is easy.
WHY CHOOSE ECAG AS A BUSINESS ESTABLISHMENT CONSULTANT?
ECAG has 17 years of experience and expertise in company formation. We provide technical support throughout the process. Make sure our consultants are available 24/7 to answer questions or support throughout the process. You don’t want any surprises in this delicate process! Transparency and accuracy of information provided. Ensure that all transaction information provided is accurate and up to date.
YOU HAVE FULL CONTROL OVER YOUR BUSINESS.
Incorporating a company in mainland Dubai requires a local partner to own at least 51% ownership of the company if the company needs a commercial or industrial licence to operate. Although UAE Federal Law No. 19 of 2018 on Foreign Direct Investment currently allows 100% foreign ownership of mainland companies, the law only applies to companies incorporated in the list. One hundred twenty-two active businesses that meet the minimum registered capital requirements. 2 and 100. million AED.
On the other hand, companies incorporated in IFZA can enjoy 100% foreign ownership with no paid share capital requirement.
YOU CAN BRING 100% CAPITAL AND PROFITS HOME.
Working outside of IFZA gives you the advantage of being able to repatriate 100% of your capital and profits without any restrictions.
YOU PAY NO INCOME TAX OR CORPORATE TAX.
Free zone companies like IFZA are also 100% exempt from personal and corporate income tax. Outside the free zones, companies are still 100% exempt from personal income tax, but corporate taxes are levied on offshore banks and oil-related industries.
GET YOUR BUSINESS UP AND RUNNING FASTER AND MORE EFFICIENTLY.
IFZA has streamlined our business incorporation processes and requirements so you can start your business sooner. For example, we eliminated the mandatory office space requirements for base licence packages and the physical presence of the business owner during company incorporation.
EASY VISA APPLICATION FOR YOUR SHAREHOLDERS AND EMPLOYEES.
Companies incorporated in IFZA can apply for a flexible number of Dubai residency visas for their shareholders and employees, with a term of up to 3 years. Businesses registered in Mainland Dubai have more restrictive requirements for obtaining a resident visa.