IFZA - The most Cost-Effective Freezone in the UAE
Contributed by Aurion
30 May, 2019
TheÂ International Free Zone Authority of FujairahÂ (IFZA) is the most cost-effective Freezone in the UAE. It is one of the latest commissioned and fastest growing economic zone currently in the UAE. IFZA has a wide range of business activities that can be licensed for company incorporation.
With access to the worldâs prominent shipping routes, Airports, and logistics infrastructure, the IFZA Freezone is becoming a center for company formation in the UAE.
What are the Key Benefits for the Investors?
The IFZA Freezone offers its investors a whole lot of support services for setting up a business in the region. Few of the assured benefits that you would reap from IFZA is:
- Low-cost company formation
- LLC Suffix to the Company Name
- Fast and easy incorporation and company management
- Ease of opening bank account
- 100% foreign ownership
- No physical presence of the business owner during the company incorporation process (Optional)
- 100% Exemption from corporate and income taxes
- Zero restrictions on foreign currencies
- Total repatriation of company capital and profits
- Limited liability for companies
- No requirement to establish a physical office space, or share capital, and
- The ability to incorporate holding companies
What is the Business Setup process in IFZA?
Company formation in IFZA is a simple 3-Step Process.
Selecting the Business Activity & License Type
The IFZA has a wide range of business activities and license types available. Based on your business requirement and nature of business you could choose yours.
Choosing the right business activity is a critical step in the business setup process. It determines the company's line of business. For certain business activity such as gold trading, financial services, etc, there is an activity-based regulation for export/import, doing business in the mainland, etc in the UAE. Hence, choosing the apt business activity is vital for the continuity of business operations in the UAE.
Aurion Business Consultants is the Authorized Reseller of the IFZA Freezone for company registration and allied services. With us, you will get access to a single window solution for all your new company registration requirements.
Application & Documents Submission
Submit the required applications and documents such as Initial approval forms, attested documents, etc. to the Freezone authorities. There are few documents to be submitted for the approval of Freezone authorities, other government authorities (Tenancy contract), banks (cash/share details), etc.
Our team of Business consultants in Aurion will assist you with the right application forms, document attestation, and submission to the concerned authorities. We ensure that your documentation would be 100% as per the guidelines of the IFZA authority and aid in the faster issuing of the business license (provided the documentation submitted by you is right).
Receiving Business License & Company Documents
Once the documents are submitted to the authorities, it goes through an assessment for the issuance of business license and the supporting company documents. Now you can legally start operating your business in the Freezone.
Team Aurion will handhold you throughout the business licensing process and further with business support services such as Banking Assistance, PRO & Visa services, ISO Certifications, etc.
What does the International Freezone Authority (IFZA) offer to its investors?
The IFZA Freezone offers world-class facilities and infrastructure for growing your business to the next level.
The facilities IFZA offers are:
IFZA consists of office spaces with International Standards that is well suited for all your business requirements. The office spaces are available for the companies with 24/7 access, provision of shared office spaces, private & executive offices, Flexible usage options, Flexible rental durations, etc.
Based on the business activity and nature of business you can choose the right option and start your dream company seamlessly in the IFZA region.
The Warehouses in IFZA is built with the highest International logistics standards. The Warehouse spaces are available in various sizes with flexible rental duration and 24/7 access.
The flexibility in choosing the Warehouse size for logistics companies, distributors, traders is a key driver to the increase in demand. Also, the proximity to the Fujairah Airport and Sea Port is highly beneficial for the investors.
Residential Complex, Hotel & Recreational Facilities
IFZA consists of a residential and hotel Apartment complex with access to world-class amenities like swimming pool, gym, club area, and luxurious interiors. It is the best fit for business travellers and global clients to relax and work together.
For business tourists and short-term visitors, there is a 5-star hotel in the Freezone with a fully equipped business center and other modern amenities like swimming pool, gym, club, etc.
IFZA also hosts a large retail space area with 24/7 security monitoring. The spacious retail outlets have large storefronts and easy access. The outlets are best fit for large scaled fashion and home accessories outlets.
When it comes to business setup process approaching a business consultant would help you to streamline the company incorporation steps.
The process includes preparing all the required documentation, getting the right attestations, and application submission to the Freezone authorities. This could seem like a tedious process for an individual or a new company in the UAE market.
So while you focus on your core business activities leave the business setup work to the experts.
The well-experienced team at Aurion Business Consultants are happy to assist you any time. Book a free consultation right away!
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