Fujairah is one of the seven emirates in the United Arab Emirates, and it’s a commercial hub having iconic high-rise buildings and beautiful mountains. International Free Zone Authority (IFZA) is Fujairah based free zone offering business setup opportunity to logistic and trading companies in an environment-friendly and futuristic atmosphere. IFZA’s strategic location delivers ease to businesses. It is because there are three thriving ports and an international airport in Fujairah. IFZA Free Zone offers several benefits to entrepreneurs who wish to form a company in the vibrant economy of the UAE
Business Setup in IFZA Free Zone: Benefits
International Free Zone Authority in Fujairah offers economical business setup solutions with streamlined processes enabling a hassle-free company formation. IFZA Free Zone provides a highly customized solution to choose from over 1000 activities across 108 sectors to match with the type of business a person wants to go for a business setup in IFZA Free Zone.
IFZA Free Zone has an excellent customer-friendly service team that assists in every step of business setup in IFZA Free Zone and management. Further, it is highly beneficial for foreign nationals to setup a limited liability company in IFZA as it allows 100% foreign ownership. Not only that, it is possible to form a company without even entering the UAE as the physical presence is not required during the company formation process in IFZA Free Zone.
Businesses operating from IFZA Free Zone are 100% exempted from corporate and income tax. This makes forming and running a company from IFZA a highly tax-efficient decision. There are no restrictions as to foreign currency transactions, and the profits and capital of the IFZA Offshore Company are fully repatriable.
IFZA Free Zone offers a very low-cost solution as businesses operating out of IFZA need not have a physical office. There’s no minimum share capital requirement, making it very attractive from the stakeholder’s point of view. Further, one also has the freedom to incorporate holding companies.
Business Setup in IFZA Company Setup in IFZA: Key Benefits
- 1000 business activities, including Consultancy, Service, Trading and Industrial
- Cost-effective company incorporation in the UAE
- LLC License
- 100% exemption from corporate and income taxes
- 100% foreign Ownership
- Minimal record keeping and reporting requirements
- Most flexible free zone allowing license upgrades and downgrades
- Company Incorporation does not require physical presence of the business owners
- Fully repatriable company profits and capital
- There’s no physical office requirement or minimum share capital requirement
- Holding companies can also be incorporated
- There’s no restriction on foreign currency transactions
- Prime location – Proximity to three ports and one International airport
- Various visa and non-visa packages to choose from
- Environment friendly structures and facilities
IFZA Free Zone offers state of the art office solutions as per the unique needs of a business. Depending upon your requirements of office space, you have an option to go for shared office space, private and executive offices. All offices have a European design. The interior is modern, allowing ample natural light, flexible usage, and rental options, and 24×7 access.
For logistics-related necessities, IFZA provides warehousing facilities with various size options, flexible rental duration, and 24×7 access.
IFZA recognizes the need for proximity between the residence and the place of work. Accordingly, it offers state of the art residential apartments with European style modern interiors.
World-class 5-star hotel brand with rooms and suites, business center, international restaurant, gym, pool, and spa is present in the free zone.
You can choose amongst a wide range of rental options having large storefronts, easy access, high-quality common areas, and 24×7 security.
IFZA offers various license options to choose from depending upon the nature and size of your business
Consultancy License is most suitable for the professionals who provide their expert professional consulting services.
Service License is intended for service providers who are engaged in the business of production, re-production, transformation, and distribution services.
Trading license is best suited to businesses intending to import, export, distribute, and stock items specified in the license.
General Trading License
General Trading License provides a businessman an ability to trade in a wide range of activities and commodities which are permitted within the UAE
Industrial License is intended for the industrialists who want to import raw materials and engage in the production, re-production, manufacturing, and packaging of the products for export purposes.
Holding License is intended for someone who wants to control other companies & entities, property & real estate, stock, assets, trademarks, and patents by way of holding standalone assets and/or shares in other companies.
Company Setup in IFZA: FAQs
1. How long would it take to obtain a business license in an International Free Zone?
It usually takes 4-5 working days to obtain a business license after submitting the application and required documents.
2. When can I open my bank account?
A bank account can be opened for your business with a bank of your choice in the UAE any time after incorporating your International Free Zone Authority company.
3. Is there a requirement of having a local sponsor for setting up a company in IFZA?
An IFZA company can enjoy the benefit of having 100% foreign ownership. In view of this, one can incorporate a company without having a local sponsor.
4. Do I need a physical office to setup a company with IFZA?
No, you don’t need a physical office space for company setup in IFZA.
5. If I have a trading license, can I trade in all items?
Yes, you can trade all items as far as those items are specified in the license.
6. Whether the income made from an IFZA Company is taxable?
No. An IFZA company is exempt from Income and Corporate taxes.
N R Doshi & Partners is specialized in providing business setup services in the UAE. From the initial idea of starting a business to incorporating a company, we provide the best advisory services to help you achieve your goals.
We have a team of dedicated company incorporation professionals who will not only process your application quickly but also maintain complete confidentiality. We also offer accounting, auditing, and management consultancy services to help you succeed every step of the way.