The concept of tailored design is not a new one. Before the advent of mass production and consumerism, everything was tailor-made. In the 20th Century, we grew to appreciate what “one of a kind” means, even just “one of a handful few”.
Today, design for purpose is a perfect marriage between bespoke and accommodating a wider audience. And this is true especially of Economic Free Zones. The key in creating a successful Free Zone is its purpose.
UNIQUE
Every Free Zone is unique and designed for a specific purpose to answer the specific needs of a host country. Governments define the purpose of Free Zones according to their countries’ socio-economic conditions, and where the country is located.
Free zones are often purpose-built to attract foreign investment, increase trade opportunities and develop infrastructure. In the UAE, Free Zones allowed the country almost 40 years ago to successfully diversify its income from oil.
Today, each of the numerous Free Zones exist in the UAE are purpose-designed and offer different opportunities to foreign investors.
The most versatile offering exists at IFZA, who designed a range of Commercial and Professional business activities within the zone. IFZA allows companies to combine different activities under one license, and the Free Zone is strategically located in the heart of the UAE’s economic hub: Dubai.
BENEFITS OF A FREE ZONE
Successful Free Zones offer an array of benefits to businesses operating in the UAE.
Tax Incentives
One of the most attractive reason to choose a UAE Free Zone are its tax incentives. Business benefit from 0% corporate and personal tax in addition to exemption from import and export taxes when bringing in goods from abroad or other Free Zones.
Foreign Ownership
UAE Free Zones allow complete foreign ownership of businesses. Outside these zones, businesses are subject to more prescriptive requirements, and only a defined range of business activities can be conducted in mainland UAE without a local sponsor or partner. The true value of Free Zones like IFZA is the huge variety of business activities that are allowed within the Free Zone with 100% foreign ownership.
Trading in the UAE, Middle East, and Africa
Even though Free Zone businesses may not directly trade outside the zones in the rest of the UAE, it is possible to set up a branch in the mainland. Therefore, setting up a new business in IFZA means you would be in Dubai to springboard into the rest of the UAE and beyond, with the Middle East and Africa within easy reach.
Flexible Setup
A successful Free Zone has a straight-forward setup process. IFZA has mastered the art of hybrid processes through a five-step electronic setup process, allowing business owners to complete company formation remotely. You can be in Bern or Sydney and set up your international Dubai-based business without getting on a plane.
Support
Free Zone authorities continue support during and after setup. IFZA particularly offers specialized support through our local and international network of Professional Partners. Uniquely, as part of IFZA’s basic license packages, we don’t require a new business to own fixed offices, but when required, we offer a range of workspace solutions with high-speed internet connectivity to support remote work. Our office solutions are flexible to fit around the needs of every stage of a business.
IFZA’S EDGE A DYNAMIC COMMUNITY BEYOND BUSINESS
IFZA is a Free Zone of choice for many reasons, from quick setup to accommodating diverse business types. Our location is prime in Dubai, and we are geared to grow with your business.
But our most important distinguishing feature is our dedication to developing a community where SMEs are motivated to create, inspired to succeed, and enabled to become part of an ever-evolving ecosystem that nurtures energy, creativity, and excellence.
Our impressive dashboard of expertise and networks allow us to deliver quality service regardless of location of the entrepreneur who wants to set up in Dubai.
