IFZA, or the International Free Zone Authority, is one of the leading free zones in the UAE. It is one of the fastest-growing free zones in the world, and it is highly recommended if you are looking to set up a free zone company in the North Emirates. This article will look at some of the important things you need to know about IFZA and its services. The main benefits of IFZA business set up are its affordability and recognition by local banks.
IFZA is a free trade zone:
If you are planning to set up a business in the free zone, there are many things you should know about the IFZA and how to proceed. IFZA has very low licensing fees and minimum requirements, making it a perfect place to start a business. Companies can use the free zone for any business, including finance, education, retail, media, and hospitality. To start a business in the free zone, you should fill out an application form. You should submit all the required documents to the authorities and then wait for the decision.
It offers a variety of services:
The International Free Zone Authority offers a range of services to investors. The free zone includes a world-class 5-star hotel brand, business center, international restaurant, fitness center, swimming pool, and spa. In addition, it provides a wide range of rental options and 24-hour security. Depending on the type of business you’re planning to start, you can opt for a consultancy or a service License. A service License is suited for production, transformation, and distribution services. A trading license is appropriate for imports and exports of stock items.
It is affordable:
The cost of setting up a company in an International Free Zone Authority is affordable. Depending on your business activity, the cost of company registration in an IFZA can range from Dh2, 000 to more than Dh1 million. In most cases, the process of setting up a company is straightforward. The process generally includes filling out basic documentation, such as your passport, business documents, and professional credentials. It typically takes a week to set up your company in an IFZA, though many offer virtual or Flexi-desk packages to facilitate the process.
Local banks widely recognize it:
The International Free Zone Authority (IFZA) is one of the leading free zones in the UAE and is highly recommended for companies seeking to set up a free zone company in the North Emirates. This is because the IFZA has an excellent reputation with local banks in the UAE and offers numerous benefits to companies.