Dubai today is one of the fastest emerging countries that is developing. It is becoming one of the top choices of not only people seeking jobs but also for people who are business owners. It is at one of those crossroads where it is set to become one of the major markets in the world. Not only are the people of Dubai opening up new business setup in Dubai houses, but also people from other nations are choosing the destination as a business development place.
Why Is Dubai A Potential Place For Development?
The principal reason for Dubai becoming a business hotspot is its introduction of the Free Trade Zones or the Free Zones in UAE. It is exactly why business setup in Dubai has become the omnipotent choice of all.
Now you may want to know what IFZA is. If you want to know what it is, then very simply put it is short of International Free Zone Authority. The IFZA free zone Dubai is a distinctive area that does not fall under the UAE’s Federal Commercial Companies Law which is applicable to all businesses that are set up in the mainland of Dubai. It has its own laws and regulations that aid businesses to be set up. They offer plenty of benefits that are unique in nature and are for the setup of various companies.
Choosing The Right Free Zone In Dubai
IFZA free zone business setup is an uphill task. This is because there are approximately 45 free zones in the UAE. And what is tougher is that all the free zones in Dubai offer almost the same benefits, facilities and amenities. So now how do you choose the zone that is most suitable for your requirements?
For that, you can take professional help that is given by a few companies in Dubai that have experts and consultants who are adequately trained to guide you to the right free zone. Since they are citizens of the country they will have better knowledge than anyone from outside no matter how well versed he is with the topic.
Reasons For You To Choose The IFZA Free Zones In Dubai
There are certain reasons why you should select the IFZA free zones. For your further reading, there are some points that are enumerated below.
IFZA Is The Cheapest Free Zone In UAE
Since its formation, the IFZA has given many packages that are very competitive in comparison to the other free zones in the country. By competitive, it is meant that the package prices are very low and affordable. Even the UAE residence visa costs are lower. And the good thing about these zones is that they give seasonal packages with discounts and benefits.
You can select 3 business activities in one spot. You have to choose from any of the 5 different types of licenses that are offered in the zone. The prices for all the licenses are standard.
The Process Of Company Formation Is Very Easy
IFZA free zone company formation is very easy and flexible in nature. The owner does not have to be physically present to set up his business there; in fact, he can get it done remotely. All the application forms and related documents can be scanned and signed to be exchanged later. You do not need original documents. So it is very easy to set up your business there.
Upgradation Of Licenses Is Very Flexible
The IFZA company formation packages have 0-6 visa allocations and if you are a seeker there, you can start from 0 and upgrade yourself to 6. In this package, the licenses get upgraded depending on your business and needs. And when you are upgrading your licenses you pay only the difference amount between the current and the new license, not the entire thing beginning from scratch.
This allows for low investment which is the most desirable thing for any entrepreneur. You get to increase your quota for a residence visa in the UAE.
Opening Of Corporate Bank Accounts
You can open your corporate bank account with any local bank in the UAE. And if you are interested in an IFZA free zone company formation, then the best banks for you would be RAKBANK, Noor Bank and Mashreq Bank. Apart from these banks, you can also set up your account in various other banks in the country.
Annual Renewal Cost
The annual renewal cost of your company’s license should not be a matter of concern, unlike the other free zones. The yearly pricing of license renewal is very affordable and hassle-free. So the IFZA free zone business setup is double-affordable. Setting up the business and renewal of costs is very much within the range of all who desire to do so there.
Packages For Company Formation
The company formation packages offered in the IFZA are very structured and organized. In fact, all the packages are very affordable. But your price will vary according to the number of visas that have been allocated for the formation of your company. Accompanied by all these, the immigration and UAE residence visa is also very affordable.
Who To Contact For Business Setup In IFZA Free Zone In Dubai?
There are numerous companies in Dubai that can help you to set up your business in the IFZA free zone. They have consultants who have years of experience to back them in coordinating with you in setting up the business venture of your choice there.
With them, you have the one-stop solutions that will not require you to run around from pillar to post. Even your physical presence is not required there. And what’s more, their consultants will guide you as per the laws and regulations of the land, without misguiding you just because you are a foreigner there.
With their expertise, they will provide you with all information required like the location, about the licenses & visa regulations and all other related matters that are involved in a business setup in Dubai.