The International Free Zone Authority was established in 2018, and since then it has been a perfect choice for an IFZA company setup in the United Arab Emirates. It is because the IFZA is renowned for its standard of solutions and services they offer. They offer global quality services that are effective and productive. Today, in this blog we explain the benefits of an IFZA company setup.
Apart from their service quality. IFZA also gives a lot of opportunities to businessmen. It is possible to its unique location which is incredibly connected to the remaining world. Dubai is a city that gives a lot of advantages and business opportunities. This is not just the most suitable location in the country but also in the whole world.
Here are the Benefits of an IFZA Company Setup
1. Company Setup Cost
One of the first considerations when starting a company setup is cost. It is one location where IFZA acts well. As it was formed, IFZA has presented several amazing appealing packages for IFZA company setup at rates that are usually very cost-effective than other free zones in the country.
2. Cost of Annual Renewal
Business licenses in the free zone should be renewed yearly, which can count as further expenses to your business functions. Luckily, the yearly renewal expenses of IFZA are competitively priced, with costs matching the low business setup expenses. It means businessman advantage from low free zone business setup expenses and ongoing company renewal expenses.
3. Quick Company Formation Process
One of the major advantages of the IFZA company setup is the pace by which it can be completed. No physical existence is needed to start your company formation in IFZA, creating it simpler for businesses. In addition, IFZA gives a more manageable approval plan in comparison to other officials, making the company setup procedure both quick and affordable.
4. Limited Liability Company Packages
One of the favorable choices for business people to start a company in the United Arab Emirates is the Limited Liability Company framework. This company framework makes the business capable to run as an independent unit, separating the owners and stakeholders of the organization.
This even limits your personal liability, giving security in case things do not work in the future. Not all the free zones give business people a limited liability company framework. Although the IFZA free zone does, creating it more attractive to businesses wishing to run in this manner.
5. More than 100 Business Activities
The IFZA free zone gives 6 distinct business license classifications, including over 1,000 potential business activities. What is more, IFZA is one of the certain free zones that permits business people to merge consulting services and trading services under one business license.
Other free zones need businessmen to possess an individual consulting business license and trading license, effective expenses and probably limiting the offering of one’s business. Every business license kind is also given with visa allocations which array around 6 visas. This gives high adaptability which can consequence in further savings.
6. Adaptability in Upgrading Licenses
The cost of IZA company setup packages differs based on the score of visas offered to the business licenses. Packages are divided into classifications arraying from 1 to 6 visa allocations. This gives adaptability to stakeholders, who can begin from 0 or 1 visa packages and upgrade later, based on their business needs. The expenses for granting residence visas are also deemed to decrease with IFZA than with other UAE free zones.
7. Easy Corporate Bank Account Opening
Another major benefit of an IFZA company setup is the simple and smooth process of a company bank account opening. IFZA gives a list of banks where business people can smoothly secure their company bank accounts. Opening a company bank account is still subject to the bank adherence permission, although.