Different Types of Licenses Offered to Form a Company at IFZA
IFZA offers a multitude of licenses to both local and international businesses. The variety of licenses offered by the IFZA caters to the needs of both small and big-sized companies who plan to set up a business in the UAE
IFZA offers Consultancy License for business professionals who deliver expert and professional consultancy services across all industries.
With the Service License offered by the IFZA, service providers can get hold of production, re-production, transformation, and distribution of services. For the service license, rendering of services must be the prime objective and goods associated with it must be utilized for delivering those services.
IFZA issues Trading License to authorize the import, export, distribution and storing of items specified on the license.
General Trading License
With a General Trading License, business people get the freedom to trade in a wide range of activities and give the flexibility to trade in any commodity which is permitted within the UAE.
Business owners with an Industrial License can import raw materials and they qualify for the process of production, re-production, and manufacture, package the specified products and finally export.
The Holding License issued by the IFZA allows holding standalone assets and/or shares in other companies. Holding companies commonly hold a controlling ownership interest in other companies and entities, property & real estate, stocks, assets, trademarks, and patents. Such companies typically hold equity interests or assets.
Benefits of Setting up A Business in IFZA
UAE offers many advantages over other countries as far as establishing a business is concerned. However, entrepreneurs are likely to consider multiple factors including the cost factor, facilities, and smooth procedures while zeroing in on a particular location to form their company. Starting a business in the International Free Zone Authority (IFZA) come with many advantages. IFZA offers the following benefits if you opt for the registration of the company in the free zone:
- Cost-effective company incorporation solutions
- Fast & easy business incorporation and company management
- Consultancy, Service and Trading options
- 100% foreign ownership
- The physical presence of business owners not mandatory during the company incorporation process
- Companies have limited liability
- 100% exemption from corporate and income taxes
- Zero foreign currency restrictions
- Full repatriation of company profits and capital
- Low set-up costs
- No physical office requirements
- No share capital requirement
- Ability to incorporate holding companies