SMEs and startups that seek to initiate the process of business setup in Dubai can consider the unique license packages and modern facilities offered by the International Free Zone Authority (IFZA). IFZA is a relatively young free zone in Dubai co-branded with the Dubai Silicon Oasis Freezone (DSO)
Despite being a new free zone (the free zone recently shifted its base to Dubai from Fujairah), IFZA Dubai continues to attract global investors due to its With low-cost business setup packages, excellent services, and world-class amenities.
Here is a list of valuable insights that shed light on why investors should choose the process of business setup in IFZA. Read ahead.
1. Cost-effective Company Formation
IFZA offers one of the most cost-effective options for company formation in Dubai with its attractive business packages. The cost of starting a company in IFZA Dubai starts from AED 13,900 for a Zero Visa Quota. Investors can effectively incorporate a company in IFZA for AED 43,470 for a 3 Year business License. The total cost of IFZA company formation makes it one of the most cost-effective free zones in the UAE. All this comes at 100% ownership, 100% repatriation of profits and access to excellent infrastructure.
2. Easy company formation process
Apart from the low costs, IFZA is one of the top free zones that provide a hassle-free company formation in Dubai. IFZA provides all services under a single umbrella that leads to an easier business setup process. IFZA doesn’t mandate the physical presence of the business owners during the company incorporation process. There is no paid-up share capital requirement and NOC is not compulsory from the current visa sponsor. Most of the company incorporation documents nee don’t be presented in original. The incorporation process can be made yet easier if entrepreneurs hire the top business setup consultants in Dubai.
3. A comprehensive range of business activities
IFZA offers wide-ranging activities including consultancy, service activities including e-commerce, trading, and industrial activities. Apart from these activities, IFZA provides a Holding License that allows the holding of standalone assets and/or shares in other companies. Furthermore, IFZA offers General Trading License at one of the most competitive prices in Dubai. Usually obtaining a general trading license in Dubai requires the investors to show huge capital to be shown in a bank and the license fee is high. In this Freezone, proof of Capital is not required to issue licenses and fees for general trading activity cheaper. Along with general trading activity, it allows investors to add specific activity also. Entrepreneurs can enlist the services of business setup consultants in Dubai who will assist them in choosing the right activities.
4. Freedom to Upgrade Licenses
Business setup packages in IFZA are spread across categories that range from zero visa allocations to six visa allocations. Investors can start a business in IFZA with a zero or single visa package and upgrade later to higher visa allocations when their business and personal requirements grow in the future. When businesses upgrade, IFZA charges only the difference in the government fee between the current package and the new package. Startups can leverage this option as it provides young entrepreneurs with the freedom to start the company with minimum costs and only increase the quota for the UAE residence visas on their license as and when the need for such allocation arises.
5. IFZA Academy for Entrepreneurs
The UAE’s evolving regulatory landscape may pose some roadblocks to entrepreneurs. IFZA has taken the initiative to remove such obstacles by educating the investors about the process of business setup in Dubai. IFZA Academy provides training to individual entrepreneurs and existing companies irrespective of whether they are currently in the UAE or overseas. The training covers all vital aspects of company formation in Dubai including application, documentation, verification, licensing, visa issuing, office spaces, warehousing and residential accommodation.
6. Modern Office space Solutions
IFZA Dubai unveiled its state-of-the-art facilities strategically built inside its new headquarters at the Dubai Digital Park. The facilities are designed for entrepreneurs who are looking for inspiring infrastructure to work. IFZA’s new range of business solutions ranges from furnished Flexi Desks to customised Offices. Tenants can also benefit from a selection of networking and social spaces that help foster business connections with other clients and companies incorporated within the free zone.
7. Access to DSO Infrastructure with IFZA License
IFZA has recently signed an agreement with DSO allowing the entrepreneurs with an IFZA license to operate from DSO free zone. DSO is an industry-specific free zone targeting IT companies and IFZA is a general-purpose free zone. The cost of setting up a company in IFZA is lower than DSO which gives investors business flexibility. Investors can enjoy sophisticated tech facilities at DSO with a cheaper trade license from IFZA.
Set up in IFZA with Help from Jitendra Business Consultants
IFZA is a wonderful option for entrepreneurs seeking to commence the process of business setup in Dubai. A wide range of business activities at competitive prices is a blessing for startups and SMEs. However, the assistance of expert business setup consultants in Dubai such as Jitendra Business Consultants (JBC) will make the process of incorporation much easier.
JBC’s highly qualified company formation advisers can help investors in identifying the right activity, creating compelling value propositions, processing paperwork, complying with regulations, and processing visas. JBC has many years of experience and has helped thousands of companies get incorporated in the UAE. JBC will be investors’ single point of contact to serve and deliver high satisfaction.