What are the prospects of setting up a new business in the UAE’s IFZA freezone

Offshore License in Dubai

Body Content: It can be difficult to choose the ideal free zone for your new company in the UAE. There are over 45 different free zones to pick from. The majority of free zones outside the Emirate of Dubai provide fairly similar commercial opportunities, making it even more difficult for shareholders to choose the Best freezone in UAE that is suited for their specific business needs.

The IFZA provides a wide range of business opportunities, including possible options in the consulting, service, trade, and industry sectors. There are many reasons why an increasing number of shareholders are consistently relocating to IFZA. It is poised to develop into a major, cutting-edge investment center with a number of advantages to offer, which will undoubtedly aid in the further growth of the UAE economy.

Effective worldwide service standards and economical solutions are the IFZA’s ethos and team’s core values. This is the ideal option for individuals wishing to enter the UAE market on a small budget. SMEs and multinational firms can choose from a variety of license options. IFZA provides the following services at this time:

license for consulting and services

License for general trading and trading

holding a license and an industrial license

IFZA is undoubtedly the road to being a major investment hub for foreign and business owners. Following are the reasons for the local and global business communities for choosing IFZA when setting up a company:

Cheapest Freezone in the UAE

Since its foundation, the International Free Zone Association (IFZA) has concentrated on providing the most affordable company formation packages in comparison to all other free zones. These packages are typically substantially less expensive when compared to the whole cost of license issuance and the price of a UAE residency visa. In an effort to draw in young entrepreneurs, the free zone frequently offers seasonal packages. The company formation packages normally include a maximum of three business activities chosen by the owners. The free zone offers five different license types, including holding company licenses, general trading licenses, trading licenses, and consultancy licenses. All license types are maintained under a consistent pricing structure in the free zone, making it simpler for anyone to find an optimal solution between all programs.

Easiest Company Formation Process

All company and branch establishment processes are carried out online, which is another big boost. Digital signatures are accepted in the IFZA free zone. If a registered and authorized solicitor in your home country completes the copies of your passport and corporate papers and sends an email with a clear, colored copy, IFZA will accept them. The company setup process is substantially accelerated because original certified documents are not necessary. Furthermore, the UAE Embassy in your country does not require that corporate documents be notarized and certified there. Again, this reduces costs, saves time, and simplifies the establishment of your business.

Simple Process to Open a Bank Account

In the UAE, opening a bank account is fairly simple after you have a business trade license from the IFZA. Typically, creating a business bank account in the UAE is a difficult and drawn-out process. A trade license from the IFZA, however, greatly simplifies the procedure.

Foreign Ownership

Complete foreign ownership of enterprises is permitted in UAE Free Zones. Only a limited range of business operations are allowed to be carried out in mainland UAE without a local sponsor or partner outside of designated zones, where enterprises are subject to more restrictive regulations. The vast array of commercial activities that are permitted inside the Free Zone with 100% foreign ownership is what gives free zones like IFZA their genuine value.

Tax Incentives

The tax incentives offered by UAE Free Zones are among their most alluring features. When importing items from overseas or other Free Zones, businesses are immune from import and export taxes and profit from 0% corporate and personal taxation.

Do you wish to know more about free zone company setup and wish to explore your options or do you need to know about businesses on the mainland or seeking an Offshore License in Dubai,we at IMAS can help you with all that. Our consultants have extensive experience in this field and can make any process hassle-free.

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