Why IFZA is the Best Free Zone in UAE?
When it comes to setting up a business in the United Arab Emirates (UAE), one of the most crucial decisions is to choose the right free zone. There are many free zones in UAE, each with its own benefits, but International Free Zone Authority (IFZA) stands out among them as one of the best free zones. In this article, we will discuss the reasons why IFZA is the best free zone in the UAE.
What is IFZA - International Free Zone Authority?
International Free Zone Authority, commonly known as IFZA, is a regulatory body that oversees the operations of a free zone in the United Arab Emirates (UAE). The free zone is located in Dubai and is strategically located near the Dubai and Abu Dhabi airports and seaports.
IFZA was established with the aim of attracting foreign investment and encouraging entrepreneurship in the UAE. The free zone provides businesses with various benefits, such as tax exemptions, streamlined registration processes, and access to modern infrastructure and facilities.
IFZA offers a wide range of business activities that companies can engage in without any restrictions on foreign ownership. The free zone also provides businesses with access to a range of business support services, including legal and accounting services, marketing and advertising support, and access to a dedicated customer support team.
History of IFZA
The International Free Zone Authority (IFZA) was established in 2015 in Dubai, UAE. The free zone was created with the aim of attracting foreign investment and boosting entrepreneurship in the UAE.
IFZA has rapidly gained popularity and is now one of the most prominent free zones in the UAE. The regulatory body has managed to attract a diverse range of businesses from various industries, including trading, manufacturing, logistics, and services.
Since its establishment, IFZA has continued to improve its services and infrastructure to support businesses. The regulatory body has introduced various initiatives to make it easier for businesses to set up and operate within the free zone, such as the introduction of an online registration portal and the provision of modern office spaces and warehouses.
Benefits of setting up a business in IFZA
Setting up a business in the International Free Zone Authority (IFZA) in the United Arab Emirates (UAE) offers a wide range of benefits to companies. Here are some of the key advantages:
1. Tax benefits:
One of the primary benefits of setting up a business in IFZA is the tax exemptions. Companies that operate within the free zone are not required to pay corporate or personal income taxes, import or export duties, or value-added tax (VAT) on their goods and services. This can result in significant cost savings for businesses.
2. Simple and streamlined company registration:
The registration process for setting up a business in IFZA is entirely online, which means that it is quick, easy, and hassle-free. The turnaround time for processing applications is also fast, which means that businesses can start their operations within a short period.
3. Wide range of business activities:
IFZA offers a wide range of business activities that companies can engage in without any restrictions on foreign ownership. This means that businesses have the freedom to conduct a variety of business activities without any limitations.
4. Excellent location and infrastructure:
IFZA is strategically located near the Dubai and Abu Dhabi airports and seaports, providing businesses with easy access to international markets. Additionally, the free zone provides state-of-the-art facilities and infrastructure to support businesses, including high-speed internet, modern office spaces, and warehouses.
5. Business support services:
IFZA provides exceptional business support services to companies, including legal and accounting services, marketing and advertising support, and access to a dedicated customer support team. This enables businesses to focus on their core operations while IFZA takes care of the administrative and regulatory requirements.
6. Affordable Business Setup Costs
IFZA has one of the lowest business setup costs in the UAE. This means that investors can set up their businesses at an affordable price, without having to worry about expensive setup costs.
IFZA offers a wide range of benefits for businesses looking to expand in UAE. From tax benefits to excellent business support services, IFZA has everything you need to establish and grow your business. With its strategic location, state-of-the-art infrastructure, and access to a large market, IFZA is undoubtedly the best free zone in UAE for your business expansion. So why wait? Start your journey with IFZA today and take your business to the next level.
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MARKEF is a leading Accounting Firm offering wide range of services including Accounting and Bookkeeping, Audit and Assurance, VAT and Corporate Tax, Business Consulting, Management Consulting, and Business Setup Services in Dubai and across United Arab Emirates.
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