5 Reasons Why IFZA Free Zone Dubai is the Best Choice for Your Business

If you’re currently exploring opportunities to set up a business in the City of Gold, you’ve probably heard of IFZA, which is popular with many entrepreneurs. The IFZA Free Zone in Dubai offers a general trading company license at a competitive price, making it an attractive option for entrepreneurs who are just starting out and want to establish a business in the region. The affordability of the license, combined with the benefits of operating in a free zone (such as tax advantages and streamlined regulations), makes IFZA a cost-effective and efficient way to enter the Dubai market. In addition to general trading, this free zone also provides licenses for commercial trade, consulting, and industrial companies. Businesses can also obtain holding permits within the zone, allowing them to own shares in other companies to expand their potential for investment and growth. Beyond versatility and affordability, there are many more ways by which a business can benefit from setting up in the IFZA Free Zone. Permits are issued fast (often within two to three working days), and the free zone’s authorities are known for maintaining complete transparency and ensuring reliable assistance. Ultimately, IFZA provides a wide range of business licences with full profit repatriation and 100% foreign ownership. This unique setup also provides access to world-class facilities and infrastructure. But is the IFZA Free Zone in Dubai the right choice for your business? At Virtue, our professional team can help you make an informed choice. We can also assist you throughout and after your IFZA free zone business setup if you decide to push through. We will work closely with you to help you navigate our business packages and pick the most cost-effective one.

Reasons to choose the IFZA Free Zone

There are 5 main reasons to choose theIFZA Free Zone in Dubai for your business:

1. Enjoy all the advantages of the IFZA licence

When you set up your business here, you can:

• Take advantage of a convenient location in Dubai, UAE.
• Register branch offices or FZCOs to obtain a business license.
• Register remotely, eliminating the need for physical presence for incorporation.
• Access a competitive general trading license.
• Forgo yearly audit reports and a physical office.
• Form holding companies.
• Obtain two-year UAE residency visas for yourself and your employees.

Additionally, there is no requirement for paid-up share capital and no need for guarantee deposits to acquire employment visas. The application process also requires minimal paperwork.

2. Access different licence types

The IFZA free zone in Dubai offers various licences for maximum flexibility. No matter your industry or business activities, we can help you pick a suitable licence for your operations in the free zone. Different licence types allow IFZA companies to perform various activities, creating a thriving and dynamic business environment in the free zone. Here are the types of licences you can consider for your business:

Commercial licence:

Designed for businesses involved in distribution, import, storage, and export

Professional licence:

Ideal for service-oriented and consultancy companies

Industrial Licence:

Provided for businesses that import raw materials and companies that process and manufacture specific goods

Regardless of your licence type, you only need one in the IFZA Free Zone in Dubai to conduct up to seven activities. IFZA’s quick licensing process ensures issuance within four days. The free zone has customised business setup packages to meet the different needs of different entrepreneurs. Investors can register their companies and obtain the necessary licences without travelling to the UAE and being physically present during incorporation.

3. Form an LLC or branch office

You can form either of these companies in the IFZA Free Zone in Dubai:

Limited Liability Company (LLC):

This structure shields your personal assets from your company’s liabilities.

Branch:

If you already have a business, opening a branch in IFZA allows you to expand your operations. The branch will operate as an extension of your parent company and share its liabilities, profits, and other aspects.

Both branches and LLCs formed in the IFZA Free Zone in Dubai are designated as FZCOs and enjoy corporate tax exemptions, incentives, and other financial advantages.

4. Access a diverse range of business opportunities

Businesses in the IFZA Free Zone can access local facilities, including retail outlets, residential apartments, warehouses, hotels, and offices in Dubai. IFZA offers a variety of business licenses to cater to companies of all sizes — from multinational corporations to small local enterprises. These licenses include:

• Trading licenses
• Consultancy licenses
• Industrial licenses
• Service licenses
• General trading licenses
• Holding licenses

Additionally, registering your business in the IFZA Free Zone in Dubai provides the following perks:

• Hassle-free and fast company setup.
• Special discounts on an IFZA license for 3 years.
• Select from customisable office setups to match your needs, such as flexi desks and executive desks.
• Manage your business remotely without being in Dubai.
• Benefit from income and corporate tax exemptions.
• Repatriate your profits and capital without limits.
• Incorporate your holding companies in the IFZA Free Zone in Dubai for extra flexibility.

Your business could also benefit from IFZA in the following ways:

• Streamline staffing by obtaining two-year visas for yourself and your employees.
• Set up your company with only a copy of your passport, avoiding excessive paperwork.
• Operate without foreign currency restrictions.
• Avoid the requirement to show proof of share capital.
• Reduce your initial investment by eliminating the employee guarantee deposit.

5. Enjoy a simplified company setup process

Setting up your business in the IFZA Free Zone follows a straightforward process:

Step 1:

Choose a suitable business activity before reserving your company’s trade name.

Step 2:

Pick an applicable business licence package and a visa quota that suits your business setup.

Step 3:

Pay the necessary fees when you submit the necessary paperwork for review by the IFZA authorities.

Step 4:

Get your company licence and process your residence visa.

Step 5:

Open your corporate bank account and get your Customs Registration and other clearances.

Depending on the nature of your company, you may need to complete additional steps to set up your business in the IFZA Free Zone in Dubai. Rest assured that our team at Virtue will help throughout. Call +971-501152351 to consult our business setup consultants. We can also share details about licence costs and visas.