Setup Your Business in IFZA Free Zone

Business in IFZA Free Zone

The International Free Zone Authority (IFZA) is a free zone based in the United Arab Emirates. It offers a first-rate business climate and other benefits to entrepreneurs like you, allowing them to establish their businesses in this location.

The International Free Zone Authority (IFZA) is becoming an attractive destination for businesses and investors. However, some people are still looking for the best way to establish their business in this appealing free zone. Today, we will look at the reasons why individuals are drawn to this Free Zone. We will also provide you with an in-depth guidance on how to set up your business in the IFZA Free Zone.

 

IFZA – Overview

Before getting into the more important details regarding the IFZA Free Zone, we urge that you clear all of your basic questions about it. As previously noted, the International Free Zone Authority (IFZA) is one of the UAE’s newly established free zones.

If you are an entrepreneur or investor, the IFZA Free Zone provides access to a world-class business environment and a diverse range of business opportunities. This is a popular place to start a business due to its strategic location, simple business registration process, and other benefits. Do you want to hear about the various benefits of starting a business in the IFZA Free Zone? If so, you should move on to the next section.

Benefits of beginning a business in IFZA Fee Zone

Setting up a business in the IFZA Free Zone provides numerous benefits to your firm. However, there are numerous advantages to establishing a business in the IFZA Free Zone. We tried to cover the top benefits of launching your business in this free zone:

1. Tax benefits

Tax breaks are among the key benefits of establishing your business in the International Free Zone Authority (IFZA). By establishing your firm in the IFZA Free Zone, you may be able to benefit from corporate and personal tax breaks.
Furthermore, you are not bound by currency regulations or export and import duties. It means that you can start your business in the IFZA Free Zone without worrying about taxes.

2. 100% Foreign Ownership

All Free Zones in the United Arab Emirates (UAE) allow 100% ownership immediately upon formation. As a Free Zone, IFZA permits you to have complete foreign ownership of your company. It implies you can keep complete control over your company even without a local sponsor. In brief, you can independently own and run your business in the IFZA Free Zone.

3. Complete repatriate of capital and profits

The IFZA Free Zone allows you to repatriate 100% of your profits without any restrictions. It signifies that you can return or transfer your money to your native country without difficulty or interruption.

4. Prime location 

The IFZA Free Zone is conveniently located in the heart of Dubai. Because Dubai is located in the heart of Europe, Asia, and Africa, IFZA gives you access to a diverse market. This free zone provides quick access to a major economic hub and an international transportation link. All of these elements make the IFZA Free Zone an excellent choice for establishing your business.

5. LLC company option 

Most free zones do not allow you to establish an LLC in the UAE. However, the IFZA Free Zone distinguishes itself from other free zones by providing the possibility to establish an LLC corporation. You can improve your financial security by separating your personal finances from company liability through an LLC.

Types of licenses available in the IFZA Free Zone

To start your business in the IFZA Free Zone, you must obtain a trade license. However, the IFZA Free Zone offers a wide range of license kinds. We have detailed the main sorts of licenses in this Free Zone below.

Commercial License: A business license allows you the legal ability to import, export, store, and distribute goods.

Industrial License: Companies that want to import raw materials can get an industrial license, which allows them to start manufacturing and processing specific commodities.

 

Professional License: To function lawfully, consultancy businesses and service providers must get a professional license.

 

Consultancy License: To provide expert consulting services, professionals must get an IFZA consultancy license.

 

Service License: Businesses that hold a service license under their company name are able to produce and transport services.

 

General Trading License: An IFZA general trade license grants access to a variety of services and trading opportunities, allowing for the exchange of goods and services in B2B, B2C, and C2B business formats.

 

Steps to initiate your business in the IFZA Free Zone

Setting up your firm in the IFZA Free Zone is simple because the majority of the steps may be completed online. We have included the entire process below to make your journey easier:

➦ Choose a legal structure

You should start the process of setting up your business in the IFZA Free Zone by selecting a reputable legal structure. You must choose one of the several legal structures for your business: sole proprietorship, branch office, or LLC. However, you should only choose legal structures that are appropriate for your business’s aims.

 

➦ Gather and submit the required documents

Next, acquire and submit the necessary documentation for opening your business in the IFZAFree Zone. You should submit copies of your passport, application forms, and other paper work. We recommend that you contact IBR Group Business Setup for a complete list of paper work required to start up your business in the IFZA Free Zone.

 

➦ Fulfill financial requirement

After compiling and submitting your documentation, you must meet the basic financial obligations imposed by the applicable licensing authorities. In other words, you must pay the necessary payments for your license. However, the fee varies according on the license type.Issuance of e-agreement If you register your business in the FZE or FZCO, the IFZA will issue an E-agreement, also known as an electronic agreement. Remember that the e-agreement will only be issued to FZE and FZCO.

 

➦ Sign the e-agreement 

To speed the licensing process, you must sign the e-agreement or digital document and sharethe capital letter soon after it is issued. However, you should only take this step if your company is registered in FZE or FZCO.

 

➦ Get your license

After completing all of the preceding stages, the IFZA will grant you an e-license allowingyou to start your commercial operations in the region.

How does IBR Group Business Setup help you?

We are confident that you have learned everything about the International Free Zone Authority (IFZA). However, you can easily establish your business in this appealing freezone. Still, if you need help setting up your business in the IFZA Free Zone, IBR Group Business Setup is always available to offer helpful advice. Our specialists will also assist you in clearing up any confusion you may have regarding the IFZA Free Zone Company Setup Dubai.

To learn more about business in the IFZA Free Zone, schedule a free appointment with one of the IBR Group team.