If you are an investor or businessman eager to incorporate your business into one of the free zones in Dubai, then IFZA is a considerable one.
Now the question is, why IFZA? What benefits will you get by forming the company in IFZA?
Well, read the blog and find the answer.
IFZA Company Formation
Since its establishment in 2018, the International Free Zone Authority (IFZA) has been an excellent option for free zone business establishments in the United Arab Emirates.
Because of the high caliber of services and solutions they offer, the IFZA separates itself from the competition.
Moreover, they deliver effective and efficient services of the highest caliber globally.
In addition to providing high-quality services, IFZA also gives enterprises many chances. This is made feasible by its advantageous position in the well-connected city of Dubai.
The Advantages of Company Formation in IFZA
The advantages are particularly pertinent to entrepreneurs and company owners moving their startups and companies to the UAE from other nations. These are as follows:
1. Duties and Taxes
The tax structure of a free zone is the strongest argument in favor of it. In addition to receiving 0% corporate and personal tax benefits if you establish your firm in a free zone, you will also be exempt from VAT, which is presently fixed at 5%.
Not just that. Additionally, free zone businesses are not subject to currency limitations or import or export taxes. It is important to remember that Connect Group provides the most effective tax consulting services. Learn more on tax consulting services in Dubai.
2. Affordable Business Setup
The process of setting up a business in the IFZA Free Zone is inexpensive and simple. However, the procedure is much more straightforward when working with company setup specialists that have already set up several enterprises in the IFZA Free Zone.
3. Easy Setup of a Bank Account
Opening a bank account in the UAE is pretty simple if you have a business trade license from the IFZA. In the UAE, creating a corporate bank account is often a difficult and drawn-out procedure. However, the process is much simplified with an IFZA trade license.
4. Variable List of Commercial Activities
One of the few economic jurisdictions in the UAE that enables the performance of commercial, service, and industrial business operations under a single license is the IFZA Free Zone. All potential commercial endeavors are covered by four business trade permits, according to IFZA authorities.
5. Help and Support
With the setup, the FZ authorities can assist you. Most FZs support any dependents who need to apply for visas, such as spouses or domestic help. Many people will also assist you in opening business bank accounts, suggest the most suitable bank for your requirements, and even set up in-branch meetings for you.
In terms of continuous business assistance, it is customary for free zones to offer networking opportunities, business counseling, access to startup centers, and development programmes to help new enterprises get off the ground. In addition, we provide business consulting services to help with this.
If you wish to incorporate a public shareholding company, read about the public shareholding company Dubai.
6. Strategic Location
As was already said, the strategic placement of the IFZA Free Zone within Dubai provides several benefits to enterprises that operate there.
Available Licenses in IFZA
- Service License
- Industrial License
- Trade License
- Commercial License
- General Business License
A consulting company called Business Setup Worldwide is there to help you at any point in the procedure. One of our primary services is business incorporation and assisting our clients in obtaining licenses. Therefore, contact us if you require help finishing your business.
1. What are the facilities available in IFZA?
Modern, open interiors with ample natural light
Flexible usage options
Flexible rental duration
2. What are the legal entities in IFZA?
Limited Liability Companies
3. What are the documents required for company formation in IFZA?
For a corporate shareholder, the following papers are needed:
Notarized and attested copy of board resolution.
Notarized copy of memorandum and articles of association.
Notarized copy of trade license.
Notarized copy of the certificate of incorporation.
For an individual shareholder, the following papers are needed:
Copy of passport.
Passport photo for every shareholder.
Emirates ID (if the shareholder is a UAE resident).
Visa copy (if the shareholder is a UAE resident).