Dubai offers unparalleled opportunities for new and established international businesses alike to access the much-sought-after markets of the United Arab Emirates (UAE) and Middle East.
The economy of the UAE is the fourth largest in the Middle East, with GDP at US$421 billion in 2019, according to the World Bank. And UN data suggests that the UAE population is just under 10 million, with the largest portion of this in Dubai.
Additionally, the UAE, and Dubai in particular, offers investor-friendly regulations to make it easier for companies to set up here. Dubai Free Zones offer amazing benefits for non-UAE companies, with 100% foreign ownership permitted across all its business sectors, tax-free earnings, and a highly connected business hub for global reach.
International Free Zone Authority (IFZA) is considered by many investors to be the best Free Zone for setting up a new business because of how easy, transparent and flexible the process is, and because it offers businesses scalability to grow or contract as needed.
This blogger can offer bountiful reasons why IFZA should be the top choice for international companies, but I’ll focus on the top points.
IFZA has tailored its niche in Dubai by offering the most competitive company formation packages in the city’s Free Zones to suit any type of operation, from start-ups to well-established multinationals. Typically, IFZA offers a maximum of three business activities as selected by shareholders, with different license types, and the obtaining of UAE residence visas. And because IFZA’s price structure is transparent with all costs stated upfront, you know what you get without hidden costs.
If you want to set up shop in the UAE, do it where you will save time, money and effort, not just during set-up, but also in the long run. From a practical point of view, Dubai is the best location in the UAE for setting up considering access to talent pools, and maintaining visas and licenses, the relative ease in opening bank accounts and a horde of practicalities that you might not even anticipate. Not only is Dubai the epicenter of economic activity in the region, but you also have easy, instant access to government departments and managing day-to-day administrative activities.
IFZA splits its company formation packages into categories based on visa allocations. This gives prospective free-zone company shareholders the flexibility to start with the least number of visa allocations and later upgrade their licenses for more visa allocations as the business grows.
At the time of the upgrade, IFZA only charges the difference in fees between the current and upgraded packages, with no need to reapply for a new trading license and all the costs that involves.
With this model, IFZA has opened opportunities for start-up companies, who can increase the UAE residence quota only as the need arises.
IFZA has one of the most adaptable set-up processes in the UAE. The entire process can be completed remotely. If the Covid-19 pandemic has taught us anything it is that sometimes people are unable to travel and be physically present in the country.
Shareholders or persons in charge do not have to be in the UAE during the company formation process with IFZA. The forms and memoranda of articles can be signed and exchanged electronically, making IFZA the top choice for shareholders who reside outside the UAE.
No Ownership of Property Required
In most cases in Dubai and the UAE, a business must own an office space. IFZA has done away with this onerous burden. If you want an office address, however, the Free Zone offers flexible office space packages to serve every company’s specific needs. You can rent a single desk space in the start-up phase of your company in one of IFZA’s strategically placed properties. As your company grows, you can upgrade the office space to having a few desks, a private office or even a whole personalized office. Read here for more details.
No Paid-Up Share Capital
IFZA exists to make company set-up easier for non-UAE businesses, from fresh faces to established companies. IFZA caters for all stages of growth. When you start out in our Free Zone, paid-up share capital is not a requirement.
Top Company Set-Up Partners
IFZA’s partners are instrumental in the success of us as a Free Zone. We have the best on board to make company set-up smooth and easy, and to assist with all our Free Zone companies’ needs.