International Free Zone Authority (IFZA): A Catalyst for Business Excellence in the UAE

International Free Zone Authority (IFZA): A Catalyst for Business Excellence in the UAE

International Free Zone Authority (IFZA): A catalyst for business excellence in the UAE

In the United Arab Emirates, the International Free Zone Authority (IFZA) is fast establishing itself as a significant investment hub. The IFZA offers entrepreneurs a highly customized business creation package in partnership with the Dubai Silicon Oasis Authority. Because of its low-cost business formation packages, global service standards, and world-class amenities, IFZA-Dubai is an investor’s favorite choice for creating a free zone firm.

License packages

The International Free Zone Authority in Dubai has a variety of Company License Packages to accommodate a variety of investment requirements. For a Zero Visa Quota, the cost of forming a corporation in IFZA starts at AED 13,900. For AED 43,470, entrepreneurs may launch a business in IFZA with a three-year business license. When considering the whole cost of the IFZA Company Setup, it is the most cost-effective option in Dubai.

Because of the 100 percent foreign ownership, 100 percent profit repatriation, world-class infrastructure facilities, and other investment benefits, international investors flock to IFZA Dubai.

Types of License available in IFZA

  • Professionals that provide competent and professional consulting services can get a Consultancy License.
  • A service license gives you the ability to build, re-create, modify, and distribute services.
  • A trading licence authorises the licensee to trade the items mentioned on the licence.
  • The General Trading License permits the licensee to trade a wider variety of commodities.
  • Industrial licences are required for the importing of raw materials, manufacture, re-production, packing, and exporting of commodities.
  • Holding License – This licence allows you to possess stand-alone assets as well as shares in other companies.

Features of IFZA Freezone 

  • 100% ownership of commercial enterprises
  • 100% repatriation of capital and profit
  • 100% import and export tax exemptions
  • No personal income tax
  • There is no need to submit an Annual Audit for a Freezone company.
  • Three years residence visa is provided for owners and employees, and no Employee guarantee deposit is required. Passport Copy is the only document needed.
  • The physical presence of Company Owners is not required.
  • No physical office space is required.
  • Manage your company from anywhere; physical presence in UAE isn’t required.

Why is IFZA Considered a catalyst for business excellence in the UAE

IFZA provides a variety of services and facilities.

1. A diverse selection of modern workplace solutions are available, including:

  • European style
  • Interiors that are open and bright with plenty of natural light
  • Options for flexible usage
  • Rental terms are flexible.
  • Accessible at all times of the day and night

 2. The warehouses come in a variety of sizes and are built to the highest international logistics standards.

  • Different sizes are available.
  • The rental period is flexible, and access is available 24 hours a day, seven days

3. To chosen companies, a variety of high-quality and large retail store choices are available.

  • Storefronts that are rather large
  • Simple to use
  • Common regions of excellent quality
  • Security is provided around the clock.

Steps for company set up in IFZA

The procedure of forming a Free Zone corporation at IFZA Dubai is straightforward.

Individual and corporate shareholders go through the identical IFZA incorporation process, with the exception of the accompanying documents.

Step 1: To evaluate the needs of your License, Client Engagement Managers will speak with you over the phone, via email, or in person. We will provide a proposal that contains the following information after they have been identified:

A.  Type of License
B.  Business Activities
C.  Visa Packaged
D.  Office Solutions

Step 2: To continue, you’ll need the following documents:

  • A. License Application Form (including Ultimate Beneficial Ownership information)
  • B. Passport Copy
  • C. Digital Passport Photo
  • D. Emirates ID and Visa copy for UAE residents

Step 3: After receiving your papers, the support staff will register the shareholders’ paperwork on the registration site.

Step 4: Once authorized, the Authority will send out two E-legal forms that must be completed before incorporation paperwork can be issued.

Step 5: The original License is available for pickup from the office upon request, and a soft copy of the License is provided through email.

Step 6: Following the incorporation of the License, we will continue to support and help you as follows:

a. Visa Processes
b. Office Solutions
c. License Upgrades and Downgrades
d. License Amendments
e. License Renewals

Conclusion

You may start a business in IFZA by following a few simple steps. When designing a business establishment, it is advisable to obtain expert assistance.

How Radiant Biz helps you

In matters like business setup, people tend to get confused and get in chaos due to several rules and requirements. This is the time when people tend to look for an expert. A lot of chaos can be avoided if guidance is taken from the very beginning. Every venture may have unique requirements like location, customer convenience, logistical feasibility, and banking services.

We at Radiant Biz strive to understand these unique precepts and provide expert and reliable consultation to our clients with updated laws and governing regulations, awareness of their rights, and cost-effective business solutions tailor-made to their business needs and budget.

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