UAE – IFZA Company Formation
UAE is one of the most advanced jurisdictions for doing business, not to mention that most free zones offer 0% corporate income tax. Also, it’s possible to get UAE tax residency, which means that you will have 0% tax on personal income. One of the top-notch free zones in the UAE is IFZA. We have been providing IFZA company formation services for a while and will be happy to assist you!
The IFZA (or International Freezone Authority) was founded in UAE in the year 2018. It is one of the best business freezones available to national and international businesses due to its cost-effectiveness, efficiency, and ease of doing business and performing operations. The UAE IFZA stands apart from the rest of the free zones due to its distinctive features and is more popular as well.
Read the article and go through the information given below to know the top reasons and benefits of company formation in IFZA and how it delivers unmatchable benefits to businesses worldwide.
Affordable Company Set-Up Packages
The global business environment and arena are much more competitive now. Businesses need to save on their expenditures to remain profitable. IFZA completely recognizes the need for businesses to be economic. That is why it offers businesses setup packages at highly competitive and affordable costs when compared to the other free zones. Since its inception, IFZA has introduced multiple such packages that have benefited businesses immensely.
Annual Renewals at Lesser Cost
All the businesses that are set up in freezones (including IFZA) need to pay the annual renewal fee and cost to continue their business operations within these zones. These costs add to the overall business expenditure and make business operations expensive. Fortunately, IFZA also has a low free business license renewal cost for annual renewals. It ensures that businesses can now not only set up their operations in one of the best and most prosperous free zones of the world but can also continue their operations at less expenditure.
Hassle-Free IFZA Company Formation Processes
IFZA is backed by the efficient governance system of UAE, which ensures fast and expedited business formation and company set up within the free zone. Furthermore, you can easily incorporate your company within the IFZA without being present physically, which makes the entire process a lot more convenient and hassle-free. The schemes within the zone are highly manageable, thereby providing a positive and convenient experience to entrepreneurs as well as other businesses. Normally we incorporate IFZA company within 2-3 business days.
LLC (Limited Liability Company) Formation
IFZA also offers businesses an opportunity to set up LLCs (Limited Liability Companies). The setup ensures that the liability of the business owners and the entrepreneurs is minimal. The business can remain operatable as a separate entity and is distinct from shareholders and owners. Entrepreneurs and business owners are less exposed to risk in the LLC business structure, as their financial risk and liability are reduced substantially. IFZA is one of the few free zones that can offer entrepreneurs and owners an opportunity to set up an LLC.
Hundreds of Activities
The distinct and leading freezone IFZA offers businesses licensure in 6 different business categories. These six business activities can cover and open to hundreds and hundreds of business processes and activities to ensure that you can make use of the benefits of the freezone fully. You can also combine many kinds of business activities (including trading, services, and consulting) under a single licence in the UAE’s IFZA, provided they fall under the related field of business. Therefore, investors, owners, and entrepreneurs can welcome many more opportunities in the freezone of UAE when compared to others. In other regions, the business is required to have separate licenses for activities such as consulting or trading, which impacts the costs. IFZA brings to your business many more business opportunities, albeit at a lower cost.
Flexible License Upgrade
The price of the formation of a company in the UAE may be affected by the number of visas that have been allocated for a particular business license. There are different packages for it, starting from zero to a maximum of six visas for a business license. Therefore, you can make use of the conditions and start your business at a lesser cost. If you choose the license with zero or one visa allocation, it will cost less when compared to the allocation of six visas for a license. You can start with zero visas an upgrade to acquire more visas later. It ensures that you can draft your package following the business requirement and do not have to spend excessively, thereby preventing wastage. Residential visas under IFZA schemes also cost less when compared to residential visas under the other free zones in the region.
Convenient Opening of a Business Corporate Bank Account
Private Financial Services will assist businesses set up their corporate and business accounts easily. For instance, we provide a list of the banks where a corporate bank account can be set up easily, and in a hassle freeway. One thing to note is that the banks do have a compliance procedure and would approve the application before opening a corporate bank account.
Contact Us Now for IFZA Company Formation
If you want to make use of the immense benefits and privileges of business formation in IFZA, we at Private Financial Services can make the journey hassle-free, convenient, and rewarding for you with our immense expertise, network, and resources. In this regard, we offer end-to-end services for setting up a business and company in the lucrative IFZA freezone. If IFZA free zone does not match your business goals, we have alternatives for this. We provide company formation services in 12 different free zones in UAE.