Do you want to launch a business in a free zone but are unsure of the advantages? You don’t need to go further because we explain all the benefits of starting your business in the IFZA-free zone.
WHY SHOULD YOU THINK ABOUT OPENING A COMPANY IN THE IFZA FREE ZONE?
As one of the top investment centers in the UAE, IFZA is also known as the International Free Zone Authority. With a vast worldwide network of more than 800 partners operating around the clock globally throughout the years, IFZA has become one of the most potent platforms. Small companies gain from the Freezone since it gives them a chance to introduce their brand to a wide range of potential customers.
The benefits of free zones are endless, and the exposure they provide is uncontrollable. The jurisdiction provides a range of amenities, including office space, housing, and warehouses, all of which are relatively affordable.
10 ADVANTAGES OF STARTING YOUR BUSINESS IN IFZA FREE ZONES
IFZA is conveniently situated in the center of Dubai, giving it quick access to important commercial centers and global transit networks. This makes it the perfect location for companies that need access to the worldwide market.
2. Tax benefits
A free zone’s main benefit is frequently stated to be its tax advantages. You may benefit from 0% corporate and personal tax rates as well as an exemption from the existing 5% VAT by establishing your firm in a free zone. Furthermore, neither currency restrictions nor import or export duties apply to businesses operating in free zones.
3. Multiple business opportunities
Businesses can operate in a variety of industries through IFZA, including trade, consulting, media, technology, and more. This implies that companies have the freedom to follow their interests and make use of their abilities to add value in the fields in which they have decided to specialize.
4. Unlimited networking
The networking opportunities are the key advantage of forming an IFZA firm. You may network with other businesspeople and get knowledge from their encounters. Additionally, you can get knowledge about various business models, which could be useful when beginning your firm.
5. Support from authorities
When it comes to assisting new company owners in setting up their operations, the UAE’s government agencies are fairly welcoming. The hotline lines and emails are available to you for assistance 24 hours a day.
6. 100% foreign ownership
Since IFZA is a free zone and 100% foreign ownership of enterprises is permitted, company owners may maintain complete control over their organizations without the requirement for a local sponsor.
7. Easily set up your bank account
The fact that extensive paperwork and other onerous procedures are not necessary in the case of IFZA business license holders is one of the most beneficial advantages. These make it easier to obtain a corporate bank account.
8. LLC company opening option
A layer of protection against potential financial hazards is offered by having an LLC structure, which enables business owners to segregate their money from the obligations of their firm.
9. Low-cost establishment of business
It is cheap and easy to start a company in an IFZA Free Zone. With the assistance of company setup professionals who have already set up several enterprises in the IFZA Free Zone, the procedure is made even easier.
Compared to the rest of Dubai, the entire procedure is quite reasonable and inexpensive, even with the assistance of Company Setup professionals. Refer to Dubai Company formation for additional information.
10. IFZA trade licenses
The sort of business you want to operate in the IFZA Free Zone will determine the type of trade license you require. Several distinct business activities are covered by a single business trade licence. The ability to undertake professional, commercial, and industrial business operations under one trade license is an advantage of having an IFZA trade license.
TYPES OF LICENCES IN IFZA FREE ZONE
To accommodate the various demands of enterprises, IFZA provides a range of licenses. Among these licenses are:
- Service licence – Appropriate for companies that provide services like consulting, advertising, or IT.
- Industrial licence – Ideal for businesses looking to establish operations in IFZA that are manufacturing or industrial.
- Trade licence – Appropriate for businesses involved in trade operations like import and export.
- Commercial licence – Developed for companies that carry out commercial operations like retail or wholesale trade.
WHY ESTABLISH YOUR BUSINESS WITH RELIN CONSULTANTS?
You have come to the correct spot if you want to launch a company in the IFZA Free Zone but are unsure of how to proceed. Our specialists have established multiple businesses in the Free Zone and have the resources needed for a quick company establishment.
We have experience assisting company owners with the establishment of their enterprises, and our professionals can easily handle the entire procedure.
Why open a company in the UAE?
The main advantage for everyone is the Zero Tax Country, or Tax-Free Country, which means there are no personal income taxes, corporate income taxes, or any taxes of any kind.
Who owns IFZA?
The “Dubai Silicon Oasis Authority” owns and runs the IFZA Dubai Freezone Company. It is one of the most well-known free trade zones in the Emirates.
Which Freezone in Dubai is the largest?
The largest and most significant free zone in Dubai is thought to be Jebel Ali Free Zone (Jafza).