Thinking of Setting up a Business in a Freezone? Here’s why IFZA is an Ideal Freezone for Business Setup

by Zaara 14, Jun 2022

 Here’s why IFZA is an Ideal Freezone for Business Setup

International Free Zone Authority (IFZA) in Fujairah is one of the leading and fastest-growing free zones in the United Aran Emirates. Although IFZA is the youngest freezone, it has become a favourite choice for business owners and entrepreneurs.

IFZA offers a wide range of services, including business activities like service, consultancy, trade and industry. There are many reasons for the ever-increasing number of shareholders moving towards this IFZA regularly. With a wide range of advantages to offer, it is all set to become a leading, state-of-the-art investment hub that is sure to help the UAE economy thrive further.

IFZA also offers various facilities like residential apartments, offices, warehouses, retail outlets, offices and hotel options. Investors are also offered minimum procedures and requisites to set up a business at the lowest price. It is a significant reason why IFZA is quite ideal for small business owners and start-ups.

5 Benefits of Setting up a Business in IFZA Fujairah

Here are your top five deciding factors on why you should choose company formation in IFZA Dubai for both the local and international business community.

  1. Affordable Price Packages

Amongst the 40 odd free zones in the UAE, IFZA is one of the most affordable ones. Business setup in IFZA can start with an annual License fee at the lowest cost without visa allocation, while the price with visa allocation starts from AED 15,200. 

  1. Wide Range of Business Activities and Licenses

IFZA does not limit businesses on opportunities to grow in the UAE. There are more than 1,000 business activities available. They have an extensive selection of business activities to offer, including Industrial, Trading, Consultancy, and Service options. Moreover, they permit businesses to have a Holding License perfect for serving companies regionally and internationally.

  1. Seamless and Fast Business Setup

Another main advantage is all company and branch setup procedures are conducted online. IFZA free zone accepts digital signatures. IFZA accepts passport copies and corporate documentation copies provided as certified. The approved solicitor or lawyer in your home country completes these, and a clear coloured copy is sent via email. Original certified documents are not obligatory, and this dramatically speeds up the company setup procedure. Furthermore, there is no requirement for corporate documents to be notarized and attested to in the UAE Embassy in your home country. Again, this saves on cost, and time and makes your company set up hassle-free.

  1. Promotions and Discounts

This free zone unceasingly strives to assist and guide businesspersons on their journey. Each month the free zone has a promotion meant at making it financially feasible for new market entrants. During June and rolling onto the end of July 2020, IFZA has a promotion running for a waived/removed visa application fee saving you AED 3,750. Visas are valid for three years, and upon your visa renewal, you continue to renew your business; the visa application fee of AED 3,750 will continue to be waived. This will continue each time your visa is due for renewal and whilst you still have the IFZA company. No other free zone has such a great offer.

  1. Offers Limited Liability Company Formation

If you want a structure with an independent entity whereby your company structure separates the company’s owners and shareholders, then a Limited Liability Company (LLC) is for you. Worry not because IFZA can offer you an LLC structure while ensuring that you have modern, high-tech office solutions perfect for your license and business type.

Price, speed, digital signatures, shareholder pre-approval options, a wide range of business activities and most importantly, this free zone has excellent credibility with UAE banks. UAE local banks widely recognize IFZA, and you will be eligible for a corporate bank account with your IFZA Company.

We at Commitbiz can help you set up a business in IFZA in a hassle-free manner. Right from business incorporation to office space, we cover it all. Our consultants have years of experience in this field and can make the process hassle-free. Contact us today for more information.

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