Business Set Up with International Free Zone Authority (IFZA), Fujairah
by Narisah Viay | MAR 06, 2019
International Free Zone Authority or IFZA is a newly launched free zone located in the heart of Fujairah. Fujairah is one of the seven emirates of the United Arab Emirates and it lies in the eastern side of UAE that has a coastline solely on the Gulf of Oman.
IFZA is set to quickly become a leading investment hub within the thriving UAE economy. Offering a highly customized approach, coupled with efficient international service standards and cost-effective solutions.
Number of Reasons why Set up a Company with IFZA
- Cost Effective
Fujairah is relatively less expensive for new businesses company compared to Dubai. In IFZA, a company can be set up with Annual License fee of as low as AED 11,500. Several advantages are also available to all types of businesses such as;
- Full repatriation of company profits and capital.
- 100% Foreign ownership
- 100% exemption from corporate and income taxes.
- No paid-up share capital requirement
- Maximum 10 shareholders are allowed per license
- Fast & Easy Company Incorporation
IFZA has made it easier for business to get approval from Authorities and “NO” physical presence is required for an owner/investor nor NOC (no objection certificate) is required from their sponsor if the owner/investor is carrying the UAE resident visa.
- Wide and Comprehensive range of business activities and license
IFZA offers a wide and comprehensive range of business activities including Consultancy, Service, Trading and Industrial options. Holding License is also available. To be able to serve business locally and internationally.
- Limited Liability Company
All licenses are registered with a structure of LLC which is an independent entity whereby the company structure separates the owners and shareholders from the Company.
- Bank Account Opening
After obtaining a license, another struggle for investors is to set up their company’s bank account. IFZA has a list of banks where IFZA Company owners can easily open their bank accounts. Though the bank account opening will always be subject to bank compliance approval.
For more information on setting up a company with International Free Zone Authority, please feel free to contact our Corporate Services team at email@example.com