The UAE established its first free zone in 1985 to promote business activities in the region. Since then, its economy has become one of the best in the Middle East and the world. Therefore, you will find one excellent option in performing one member of the IFZA activity list.
In this article, we will explain IFZA meaning and its activities list. As a result, you will find it your top alternative to doing business in the UAE. So, begin your new journey in the Middle East after reviewing the following topics in detail:
1. What is the International Free Zone (IFZA)?
It is a new day, and your Human Resources Outsourcing business is better than ever. In this sense, one team member saw online that IFZA is an excellent choice to expand your company. But what is the IFZA meaning, and why is it your best option?
Indeed, IFZA stands for International Free Zone Authority. The UAE founded this free zone in 2018 to continue promoting business activities in the Emirates. Above all, you can find it as profitable as the remaining ones in Dubai and Abu Dhabi.
So, your team member convinced you to expand your brand by setting up a business in IFZA. After all, your business belongs to the IFZA activity list. However, what does this free zone offer you to perform this task today?
2. The licenses you can get in IFZA
The first step to setting up a business in IFZA is getting a license for it. By all odds, they are the same license that you can get for doing so in mainland Dubai. Nonetheless, which ones does the UAE offer to enter the IFZA activities list?
In this sense, it is worth mentioning that the license you need will depend on the business activity you perform. Fortunately, we will help you by showing the top four in popularity. You can even use one to start a business in Meydan Free Zone.
On the other hand, remember that the UAE is a strict country with several laws and regulations. Above all, they establish a license as mandatory for every member of the IFZA business activity list. Therefore, avoid setting up your business without it.
Let us discuss the license you can get in IFZA today:
2.1 Consultancy License
Let us imagine you want to expand your business by performing additional activities. Indeed, your team advises you to open an accounting service firm in Dubai to generate more profit. Nevertheless, what license do you need to open it in IFZA the next month?
In this sense, IFZA offers you a Consultancy License. Above all, it allows you to enter business fields such as accounting or marketing. In other words, you will need one to provide Business Setup Consultant services in the International Free Zone.
Unfortunately, your business goals do not involve any of these industries. After all, you could be a businessperson that enjoys the excitement of trading more. By all odds, you must go with another license if this is your specific case.
2.2 General Trading License
The IFZA allows you to migrate to other business activities without problems. For instance, you will find several clients there for your PRO services. But what happens if your business goal is to import and sell goods in the UAE and the Middle East?
One way to belong to the IFZA activity list is to apply for a General Trading License. Indeed, it will allow you to sell, store, import, and export goods under a single license. You can even use it to provide products to companies in the Dubai Silicon Oasis.
Furthermore, your General Trading License will allow you to trade electronics and furniture in the UAE. However, you will need special permission from other authorities to work with weaponry, medical drugs, or alcohol. After all, they are goods that require special treatment.
2.3 IFZA Service License
A General Trading License is perfect for opening several stores in Dubai. Nonetheless, it does not allow you to offer your services as a professional in a free zone. Therefore, what is the equivalent of a Professional License for members of the IFZA business activity list?
Answering this question involves telling you that you need an IFZA Service License. Above all, it applies to businesspersons and investors conducting service-oriented businesses in the UAE. Hence, does your company provide visa services? An IFZA Service License is for you.
So, you may think that the IFZA activities list only includes trading goods and providing services. However, you can find an additional activity to perform if you like working in finance. Jump to our following subject to discover it in detail.
2.4 Trade License
The finance world is tremendously appealing to many businesspersons worldwide. It is why they work in places such as the New York Job Exchange or the Stock Market of mainland Abu Dhabi. Nevertheless, does this belong to the IFZA activity list?
Undoubtedly, yes, it does. Most importantly, you will need a Trading License to enter this industry in the IFZA. Besides, it will allow you to sell or import one good. By all odds, it makes it different than the General Trading License we addressed before.
So, we traveled across the licenses you can get to take advantage of the IFZA activity list. Nevertheless, you will also require a visa to enter the UAE and do business in Dubai or Sharjah. Thus, can you get one in the International Free Zone?
3. Can you get a Visa in the International Free Zone (IFZA)?
In short, yes, you can get a Visa to perform one option of the IFZA activities list. Above all, it allows you to apply for regular visas in the UAE, including the Green Visa. But what makes applying for it in IFZA different than in the rest of the Emirates?
First, the International Free Zone offers several incentives to promote visa applications. For instance, you can apply for one by paying AED 3,750 and enjoying promotions and improved pricing as an investor. Moreover, this is not the only benefit of applying for a visa in IFZA.
On the other hand, you can obtain a free lifetime Investor Visa by starting a business in IFZA. After all, UAE authorities want to promote foreign investment by offering VIP visa stamping to investors. As a result, they can attract several Banking Services firms into the country.
4. Available facilities for the IFZA activity list
Logically, it is one thing to perform the legal activities of setting up a business in IFZA and another to choose where to set it up. Regarding the second feature, IFZA offers several facilities for your business. Let us discover where you can locate your Corporate Sponsorship Services office.
Indeed, the IFZA activity list is extensive, with multiple options from several industries. As a result, the UAE built many available facilities for you to set up a business regardless of your industry. Here, we will address the four most common ones.
Furthermore, remember that we are talking only about the IFZA activities list. Therefore, other free zones, such as the TECOM free zone, may offer different facilities. So, feel free to assess them to see if they can benefit your company more.
Let us review the available facilities for the IFZA activity list today:
4.1 Business offices
A final facility you can use for the IFZA business activity list is a business office. Above all, it will allow you to establish a space to accommodate all your employees in one place. Do you need a meeting room to receive clients from Qatar? This option is for you.
In addition, remember that business offices and business centers in Dubai are your most expensive option. So, choose this facility if your company has the resources for it. Assuredly, the UAE will offer you many ways to improve your revenue tremendously.
4.2 Virtual offices
The world is turning more digital every day due to technological advances and interconnectivity. As a result, many industries are migrating their processes to a digital environment. The IFZA business activity list is not exempt from this and offers virtual offices.
Indeed, a virtual office allows you to sell goods or provide services without needing a physical space. In this sense, IFZA will offer you everything you require for it, including a business address, phone number, and business email. By all odds, it looks too good to be true.
Moreover, several courier businesses have offices in the International Free Zone. Hence, you can receive a request in your virtual office and ship your products to Saudi Arabia. In other words, it allows you to build an international business without issues.
4.3 Smart desks
One trend that gains more popularity daily is the use of Smart Desks. You can also call them Smart Offices and involve using shared office space for your business in Dubai. However, how can you set up a business with your tourism license in IFZA using them?
In this sense, Smart Desks are an excellent option for startups that require a physical space. This location in IFZA will represent their physical address and allow them to save money. After all, renting offices in Dubai or Abu Dhabi will cost them substantially more.
On the other hand, a Smart Office could be an inadequate option if your business requires space. For instance, you could want to install a manufacturing line to enter the IFZA activity list. So, what does the International Free Zone offer you in this sense?
Imagine you have an assembly line you want to move from mainland Sharjah to a free zone in the UAE. Logically, our previous options of available facilities for the IFZA activity list are inadequate. Fortunately, the International Free Zone has what you need: warehouses.
Indeed, you can use warehouses in IFZA to perform several different activities. For example, you can use it to store goods you need to sell or manufacture before shipping them overseas. After all, they are the perfect option for businesspersons that require large spaces.
Nonetheless, a warehouse often does not include much space to set up your desk. Therefore, your business with an E-commerce license will not find the large space appealing. So, does the IFZA have a final option you can use for it?
5. Where can you find more information about the IFZA activity list?
Setting up a business in the UAE is the best option for investors and companies worldwide today. After all, they have multiple free zones with excellent advantages to promote foreign investment. For example, you can be successful in no time by performing one member of the IFZA activity list.
On the other hand, foreigners tend to find difficulties during their setup process in the UAE. In this sense, you may need an expert assistant to help you throughout the task. Fortunately, you will find the best of them in Dubai when you meet us at Connect Middle East.
Let us help you belong to the IFZA activities list and more. You can also contact us to discover more advantages of setting up a company in Dubai. So, ask for our services via phone at +971 43 316 688 or email at email@example.com.