A thriving ecosphere for businesses doesn’t get built overnight. It is the consistency and perseverance of a country that’s behind the lens. The UAE is a living example of an extraordinary business ecosystem. The United Arab Emirates is known for its excellent business environment, innovative ideas, and technology advancements. Since the country is the first choice for entrepreneurs, let’s understand how it supports diverse business activities for entrepreneurs.
In the fast-moving and ever-evolving entrepreneurial world, the International Free Zone Authority (IFZA) has established itself as one of the most significant business doorways for entrepreneurs aspiring to make their mark in the UAE. Located in the Dubai Silicon Oasis, IFZA offers a wide range of business activities for entrepreneurs and helps them thrive in the global business market.
What is IFZA in the UAE?
The United Arab Emirates offers nearly 40 Free Zones, and IFZA is one of them. Undoubtedly, IFZA is one of the most significant and growing free zones in the country.
Established in the heart of the UAE, Dubai Silicon Oasis is a prominent free zone that offers a rich business landscape, multiple business activities, high-paying jobs, and cost-effective business setup. IFZA is known for its
- Minimal Business Setup Requirements
- 0 % Corporate & Personal Income Tax
- Full Return on the Capital
- 100% Foreign Ownership
- Streamlined Licensing Process
The benefits of IFZA
Easy Business Setup: IFZA offers streamlined business setup with quick and efficient proceedings.
Various Business Licenses: Businesses can choose multiple activities and obtain the relevant trade license, including trading, service, industrial, consulting, etc.
Prime Location: IFZA offers entrepreneurs special access to all the prime locations in Dubai. This includes shipping routes, a distribution centre, and easy trade connectivity.
100% Foreign Ownership: Many free zones require local sponsors to start a business in the UAE, but IFZA does not require local sponsorship, meaning a foreign national can own 100% of their company.
Tax Benefits: IFZA provides multiple tax benefits, including exemptions from import and export levies and zero corporation tax (on qualified income) and personal income taxes.
Core Business Activities in the International Free Zone Authority
IFZA offers multiple business opportunities, but here is a list of prominent businesses in the United Arab Emirates.
Import and Export Business: The prime IFZA location makes import and export easy for businesses, as they can easily exchange goods and products in the international market.
E-Commerce: Since the surge of digital businesses, IFZA has also started offering a general trade license for businesses to leverage the growing e-commerce market.
Consulting Business: As IFZA offers multiple business activities, consulting services are also an excellent choice for making a move.
Logistic Service: IFZA can be the best choice for the logistics and warehouse business as the zone provides state-of-the-art storage, distribution, and supply chain management.
Tour and Tourism Business: This dedicated free zone builds a safe and supportive environment for the hospitality industry and pushes the tourism sector.
Real Estate: Their services include the development, leasing, and management of real estate activities, which IFZA assists with to fulfil real estate industry needs.
Business Licensing in IFZA
An IFZA business license is associated with your business activity. Each license class is intended to meet certain operational requirements that ensure that the company operates under the appropriate legal and regulatory environment.
Here are the names of major professional and commercial licenses;
Commercial Licenses
- E-Commerce License
- General Trading License
- Tourism License
- Travel Agency License
- Computer Trading License
- Construction & Building Materials Trading License
- Auto Spare Parts & Components Trading License
Professional Licenses
- Accounting License
- Real Estate License
- Management License
- Advertising & Marketing License
- IT Consulting Licensing
Setting up a business in the free zones is easier than doing it on the mainland UAE, but doing it on your own can cause a little trouble. Having a professional business partner for the right guidance is better than doing it alone. These business setup consultants not only help you to set up a business but also assist you in every possible manner.
Markai Corporate Services is your one-stop solution for everything related to Business Setup. We help entrepreneurs thrive efficiently in the UAE business ecosystem.
