All You Need to Know About IFZA Fujairah Free Zone

by commitbizadmin 08, Feb 2019

All You Need to Know About IFZA Fujairah Free Zone

The United Arab Emirates has glued its position in the world market as a country to offer numerous amounts of free zones to the businessman. They have grown exponentially high as one of the leading destinations for establishing a business in cities like Dubai and Abu Dhabi. Its thriving economy, world-class infrastructure, free zones with zero tax law policies makes the UAE the most sought after location for starting a business and conducting related activities.

Coming to the crux of the matter, International Free Zone Authority in Fujairah is currently the new kid in the block. This free zone is set to quickly become a leading business hub within the thriving UAE market. It provides its customers with customized service tailored towards their specific needs, combined with international service standards and cost-effective options. Its strategic location adds brownie points to this already talked about the free zone. It is located closer to the Port of Fujairah and Fujairah International Airport making it perfect for the businesses offering them a tremendous opportunity for logistics and trade-related companies in a future-oriented and attractive environment. Now that you have formed a basic idea about this Fujairah Free zone, it is now time to dive deep.

Licenses Available in the Fujairah Free Zone

A free zone provides you with different licenses; let us understand the type of licenses available in the IFZA.

1.Trading License

Having this license enables the holder to trade items specified on the trade license. It includes import, export, distribution, and storing of items.

2.Service License

It allows the holder of the license i.e. the service provider’s production, reproduction, transformation, and distribution of services. The license includes rendering services as the primary objective and utilizing associated goods to provide those services

3.Industrial License

This license allows the import of raw materials, production, re-production, manufacturing, packaging, and export the final product

4.Consultancy License

This license is given to the business professionals providing expert and professional consultancy services across all the industries

5.Holding License

It allows the holding standalone assets and/or shares in other companies. Holding companies are commonly for controlling other companies and entities, property, and real estate, stock, assets, trademark, and patents

6.General Trading License

This enables the licensee to trade in a wider range of activities and given the freedom of flexibility to trade in a commodity which is permitted within the UAE.

Facilities Available in the IFZA Fujairah Free Zone

There are a lot of facilities available in this free zone. They are listed below:

Offices

A wide range of office solutions is provided to the investors who want to set their company in this freezone. It includes European design, modern and also open interiors with ample natural light, flexible usage options, flexible rental duration, and 24/7 access.

Warehouses

Warehouses are built on the highest logistics standards with flexible duration and also 24/7 access.

Residential Apartments

The apartments have a wide range of classy, comfortable, and modern residential options with high-level interior design, European in style and full use of the entire hotel-like amenities.

Hotels

Its include world fame 5-star hotel brand with modern facilities, completely equipped Business Center, International restaurant and also catering services, gym, pool, and spa.

Retail and Shops

It typically includes large storefronts, easy access, high-quality common areas and also 24/7 securities.

Environment-Friendly Initiatives by IFZA

IFZA, from its launch, has focused on being a free zone which minimizes the damages to the environment. The free zone has taken special care which making such decisions which are environmentally friendly or “green” in nature. One of such decisions is an initiative aiming at continuously improving the foundation of environmental management, such as the development and implementing environmental activities, environmental management systems, and environmental communication as well as conservation of biodiversity called “Green Management”. Other than this the International Free Zone will also focus on five major initiatives that will support business sustainability in the free zone and at the same time support its customers in managing their financial, social, and environmental risks, obligations, and opportunities. The five initiatives are as follows:

  1. Having Wind mills that will utilize wind energy
  2. Solar panels on car park roofs and building roofs
  3. Insulation on the buildings
  4. Application automation and integration that minimizes the need for paper printing
  5. Using suppliers that have a documented green profile

If you are still not impressed by the aforementioned points, IFZA also has a lot of benefits to offer for its investors like,

  • Company set up at low cost
  • Cost-effective business incorporation solutions
  • 100% foreign ownership
  • The option of business owners not having to be physically present during the incorporation process
  • 100% exemption from corporate and income taxes
  • Zero restrictions on foreign currencies
  • 1005 repatriation of company capital and profits
  • The absence of any requirement to establish a physical office space, or share capital, and
  • The ability to incorporate holding companies

Are you still skeptical? Don’t worry. All you need is proper guidance from the business consultant who is well-versed with the legal framework of this free zone. We at Commitbiz are ever ready to help you out with the Fujairah free zone company set up. Do contact us today - even if it’s for a piece friendly advice!