Benefits of Starting Your Business in IFZA Free Zone

IFZA Free Zone

Looking to create your own free zone company but wondering how the company's formation works and what sort of benefits it offers? Nowadays, there are a series of people who are looking to set up their business in the company jurisdiction but this requires a proper strategic location in Dubai as one can utilize the opportunities that Dubai has to offer.  The location of the free zone in Dubai is enough to boost the business as the emirate name can get you things that you have imagined only. Dubai has emerged as one of the best places to start a business not only in the Middle East but also across the world. The UAE Government has taken huge initiatives to grow the evolving business sector and create opportunities that contribute to the economy. UAE free zones offer countless benefits and aid in the growth of the business.  

Why should you consider starting a business in the IFZA Free Zone?

IFZA is also known as the International Free Zone Authority as it is one of the leading investment hubs in the UAE. Over the years, IFZA has been one of the most powerful platforms with an extensive global network of more than 800 partners working around the clock across the world. The Freezone provides benefits to small businesses as they get the opportunity to showcase their brand to a huge pool of audiences. The platform is solely considered to empower domestic and international businesses to grow in an environment that is well-suited for business, innovation, and development. The free zones offer a myriad of benefits also the exposure it offers is beyond one’s control. The jurisdiction offers various facilities such as warehouses, residential apartments, and office space, which easily fit into one’s budget.

Benefits of setting up a business in IFZA

IFZA freezone a series of benefits when forming the company, such as 

01. 100% ownership of the Business

IFZA allows foreign investors to get 100% ownership of their business which allows you to innovate, build and create opportunities that make your business grow in the long run.  
 

02. Full Profit

The freezone companies can retain all their profits in their home country which allows them to transfer 100% of their capital to their place of origin without any requirements.  

03. 0% Corporate Tax

The UAE law states that they are not required to pay any sort of corporate tax out of their business revenue which provides the opportunity to keep all the share of the profits.  

04. 0% Import & Export Tax

Free Zones are exempt from all customs duties, which is one of the major benefits and reasons why businesses should consider freezones.  

05. Strategic Location

The free zones location is strategic which provides the investor access to world-class global markets. It gives the business huge exposure and is also one of the contributing factors to the growth of the business.  

06. Global Connectivity

Dubai has a multi-national community and provides opportunities to connect with a global audience.  

07. Different range  of business 

Freezone gives you the freedom to use a series of business activities which is best for investors.  

08. Quick & Easy Registration Process

The entire process of obtaining a license is quite swift and easy. The investors can conveniently access the freezone business information and other administrative services.  

Features of IFZA business setup services

IFZA is one of the few free zones in the UAE which stands out from the other freezone due to its unique benefits and opportunities it provides to investors, which is inclusive of 

• There is no requirement for the investor to submit an annual audit report.
• There is no requirement for paid-up share capital.
• IFZA offers 3 years of visa to owners and employees.
• They have permission to have a virtual office. 
• There is no requirement for employees to guarantee deposits to the free zone.
• No NOC is required from the current visa sponsor.
• There is no requirement for the investor to be physically present during the time of company formation.

Trade License offered by the IFZA

When starting a business in the IFZA free zone, there are various licenses such as

• Holding License
• Trading License.
• Service License.
• Industrial License.

Entrepreneurs can easily conduct up to 7 activities under one trade license. IFZA is also one of the few free zones in the UAE that allows professional, commercial, and industrial activities to pursue business under one license. IFZA also does not recognize e-commerce as a separate activity as they allow people to still sell goods online with a general trading license in Dubai.

Why is the IFZA freezone right for business?

One of the major advantages of forming a company in IFZA is it offers a range of packages to entrepreneurs who want to excel in the field of entrepreneurship and set them on the right path. IFZA is the only freezone in the UAE that offers a “lifetime visa” to investors who want to set up a company.  The jurisdiction is strategically located near the major markets. The advantages of setting up a business easily outweigh the disadvantages involved in the IFZA company formation. It is not restricted by the rules and regulations, unlike the Mainland. IFZA offers various business structures, including branch companies, holding companies, and Limited Liability companies with one or more shareholders.

The freezone offers one of the main benefits of the LLC company formation in IFZA is you can only suffer the losses only the amount you have invested not a penny more than that. This shows that IFZA  offers more benefits than any other free zone across the world. The setting up of a business in the UAE can be a taxing process but we believe in making the process feasible. 

How can Flyingcolour Business Setup help you?

Flyingcolour Business Setup Services can help for start a business in the IFZA Free Zone with the help of experts. We have been helping entrepreneurs set up their businesses and also the groundwork is completed by our experts without any hassle. Our experts guide you through the entire process from registration to setting up in free zones. To set up a business in a freezone requires you to retain approvals from the relevant authorities. 

To learn more about the Benefits of Starting Your Business in the IFZA Free Zone, book a free consultation with one of the Flyingcolour team advisors, Please note that this article was published on  22/09/2022, by the federal policies and updates at the time of writing. For the latest info, please talk to our consultant.