International Free Zone Authority (IFZA) is located right next to the Fujairah port. This is one of the reasons why it has become one of the leading investment hubs in the UAE. This particular free zone offers the best services for a business set up in Fujairah in the most competitive costs and is thus the most ideal place to set a business in.
Facilities offered in International Free Zone Authority
Offices, warehouses, apartments, hotels, outlet options and so much more is available in IFZA free zone. In this free zone, the investors can get their requirements fulfilled in the lowest prices which in itself is a great benefit for the people. Lowest rates and great business conditions are what makes IFZA free zone the most ideal location for company formation.
Benefits of company formation in IFZA
- 100% exemption from tax– There would be no implementations of corporate or income tax which will make the company enjoy all the profits on its own. Also, there is a full repatriation of capital and profits.
- Currency restrictions– With company formation in IFZA, there wouldn’t be any restrictions for currency. This makes foreign investors take more interest in forming their businesses here.
- Share capital requirements– There are no minimum share capital requirements for business set up in IFZA free zone. This relieves the stress from the entrepreneurs because they usually have fewer finances at the start of their business.
- Foreign ownership- Companies can get benefit from 100% business ownership.
- Cost-effective solutions– Business incorporation solutions here are really cost effective. Also, the business set up cost is really low as well.
- Prime location – It is located near the seaport which makes the people in getting advantage from both land and the sea for business stuff transportation
- No physical office required– Physical location is not mandatory to conduct business in IFZA.
The Procedure of Starting a business in IFZA
Business set up procedures in IFZA are really straight forward which means you wouldn’t have to take extra stress for your business set up. Almost all of the process can be carried out through online means. After the submission of the documents, it just takes about a day or 2 for the approval of company registration.
Here are the steps that should be followed for company set up n IFZA;
Obtaining the initial approvals
For name and activity, the initial approvals have to be taken from the Fujairah free zone municipality. Your company name must be unique and different from any other company already providing its services in the market.
If the activity is of any special nature, the approvals are to be taken from the concerned authorities or ministries.
Writing Memorandum of Association (MoA)
After obtaining the approvals, you must right the Memorandum of Association of your company. Also, you must notarize it from the courts.
A certificate of capital contribution is to be obtained by the banks.
You must then submit the application for business registration along with the initial approvals, MoA’s copy, certificate, tenancy contracts and more to the municipality.
After the inspection by the concerned legal department, the company’s name will be entered in the Commercial Register. Also, the MoA will also be published in the Ministry of Economy Bulletin. After all the steps are carried out properly, the business license would be issued to the company.
Why Choose IFZA free zone?
Being the most flexible free zone, IFZA comes up with the best business solutions. The tariff rates are really low and the co-working space is marvelous as well. The range of services offered is great which makes the business growth quite obvious here. So, if you are also looking for a business set up in any of the free zones in UAE, you must consider IFZA as an option. There you will get facilitated in a number of remarkable ways which will surely open a broad way for your business and its success.
IFZA offers free access to the license holders in IFZA for supporting their growth.
The facilities provided here are modern which appeals the business investment to a great extent
Great office services are offered which includes high-speed WiFi and printing as well.
Bring your business ideas to life by getting access to different packages ranging from a drop-in membership to unlimited access:
Daily basis services cost: AED 50
Monthly Membership cost: AED 750
Annual Membership cost: AED 7,800
Conference Room cost: AED 150/Hour
**Disclaimer** All the prices are updated as of publishing date of this blog. Farahat & Co. does not claim authenticity of the source this information is collected from and will not entertain any sort of claims against publishing this information. To confirm exact details of pricing and costs, contact the respective authority.
This is not all. There is so much more awaiting you. So, do not waste your time and take a step to bring your dreams into existence. FAR Consulting Middle east. can help you with all your business registration processes in a very effective manner. You can reach them very easily. Thus, contact them and consult them for business formation in IFZA.