Nowadays, people want to start a new business in Dubai to make more money and lead an amazing life.
Most of them look for the IFZA Free zone. Do you want to set up a new business in this free zone but are unfamiliar with its benefits?
If so, look no further because this blog post unveils the top benefits of setting up a business in the IFZA Free zone.
This free zone has gained the attention of many people worldwide. This is because it has a top-notch strategic location. In addition, it provides countless opportunities to entrepreneurs across the globe.
Undoubtedly, Dubai has emerged as one of the best places to start a business. Most importantly, the government has taken several amazing initiatives to engage new entrepreneurs in this heavenly place.
International Free Zone Authority (IFZA) is considered one of the top investment hubs in the United Arab Emirates.
Over the past few years, it has emerged as a top-level platform with a diverse global network of almost 800 partners worldwide.
IFZA empowers local and international businessmen to grow their businesses like a pro and gain the maximum advantage in the market.
This free zone offers numerous facilities, such as residential apartments, office spaces, and warehouses.
Keep reading this blog post to get a deeper insight into IFZA company formation. Here you go!
1. Economical Setup
First things first!
While selecting a business location, entrepreneurs’ first concern is the cost. The same is the case with IFZA.
IFZA is a cost-effective free zone coupled with limitless attractive, and amazing company formation packages at reasonable rates, as compared to other UAE free zones.
2. Amazing LLC Packages
The Limited Liability Company (LLC) structure is one of the most popular ways for investors to set up a business in the UAE.
With this type of company structure, the business can run as a separate entity from its owners and shareholders.
This also limits the amount of money you are responsible for if something goes wrong in the future.
Not all free zones offer an LLC structure to investors.
Fortunately, IFZA offers an LLC structure to all businessmen.
3. A lot of Business Activities
The IFZA free zone has six different types of licenses, covering more than a thousand business activities.
How amazing it is!
It is also one of the few free zones where investors can do consulting, services, and trading under the same license.
Other free zones require investors to have a separate license for consulting and a separate license for trading.
This increases costs and could limit what a business can offer.
Additionally, visa allocations of up to six visas are available for each type of business license. This offers more freedom, which can help you save more money.
4. Fast & convenient business incorporation process
Another amazing advantage of starting a business in IFZA is that it has a super-fast company incorporation process.
You do not need to appear to set up your IFZA free zone business physically. In this way, it makes the process of business formation simpler and easier.
Furthermore, it has a more manageable approval system than other authorities. This makes the process of forming a company both faster and easier.
5. High living standards
Dubai has the highest living standards in the UAE. Here, you can pursue a strong and stable family life. After establishing a business in the IFZA Free Zone, you are eligible to sponsor the visas of your partner, kids, and domestic helper.
6. Bank account opening is easier
One of the best things about IFZA company incorporation is how easy it is to open a bank account.
IFZA gives business owners a list of banks where it is easy to open a bank account.
Opening a bank account for a business still needs compliance approval from the bank.
7. Cost of renewing each year
The free zone company license needs to be renewed every year, which can add to your business costs.
The prices for IFZA’s annual renewal costs are competitive, matching the low prices for starting a business.
This means that the owners’ costs to start a free zone company and keep it going are low.
8. Foreign ownership allowed
The UAE government forbids 100% in industries that are crucial to the UAE’s national security. The IFZA Free Zone, on the other hand, allows for 100% ownership of any business that is launched there.
Conclusion
These are the eight benefits of starting your own business in the IFZA Free zone:
1. Economical setup
2. Amazing LLC packages
3. A lot of business activities
4. Fast & convenient business incorporation process
5. High living standards
6. Bank account opening is easier
7. Cost of renewing each year
8. Foreign ownership allowed
Therefore, you should consider doing business in the IFZA Free zone. If you need business consultancy in IFZA free zone, you can avail of the services of our skilled business consultants.
Bizstart teams up with professional business consultants who can help you start any business in this free zone.