How To Ensure LLC Formation In Dubai For Tourism Business? (2022 Guide)
Brainstorming ideas for LLC formation in Dubai is something that most entrepreneurs love to do. And the reason is endless business opportunities in the Emirates. Establishing a Travel business in the UAE is one such scope, especially after the COVID-19 pandemic where the travel industry had to suffer a lot. Thanks to the liberal laws for setting up an LLC in the Emirates.
Presently, the UAE Government is making constant efforts for ensuring the growth of the tourism industry in the country. So, starting a travel business across the Emirates would be a worth-investing idea. Let’s dive in and check the various tourism activities you can pick from.
What Are the Various Tourism Activities Available For An LLC Formation in Dubai?
There are some types of tourism activities that come under the travel agency license according to the UAE tourism department. You can pick from any of the following travel activities to start a business in Dubai:
- Sale of plane tickets
- Travel insurance issuance
- Sale of tour packages through a website
- Support services during the visa issuance
- Creation and marketing of tour packages through various channels
- Offers for accommodation options
Eligibility Criteria for launching a Travel Business in Dubai
Being a business owner, there are a few things you need to consider before incorporating a travel company in Dubai. Here are they:
- 3 years of relevant work experience with a diploma or certification in the travel and tourism industry
- 5 years of experience in case the individual just has a high school diploma
- You must present a lease contract or blueprint of the location where the travel agency will be operating
- A physical office space with at least 30 meters of available area for each activity
- As a travel agent, you must have a certificate issued by the Civil Aviation Department in Dubai
4 Ultimate Steps Tourism Businesses Must Follow For Smooth LLC Company Formation in Dubai
Launching a travel agency in the UAE involves a few essential steps that you need to follow. Scroll down to know all the steps required for travel company formation in the Emirates.
1- Select Your Travel Agency License
First of all, make sure you’re aware of the types of travel agency licenses available for doing business in Dubai. Currently, there are three types of travel agency licenses you can choose from. Here are they:
- Inbound Tour Operator License
- Outbound Tour Operator License
- Travel Agent License
2-Collect All the Required Documents
Once you choose a suitable license for your travel business in Dubai, start collecting the required documents for it. Given below is the list of required documents to start your travel company in the UAE:
- Get an application form from the relevant authorities and fill it with complete details
- Valid passport copies of the applicants
- Certificate proof of work experience and professional qualifications
- Certification of clean criminal record
- A well-researched case study report of the technical and economic feasibility of the project
- NOC (No Objection Certificate) letter issued by the Civil Aviation Authority
3- Meeting Up All The Special Conditions
After submitting the essential documents for travel business registration in Dubai, you also have to meet some special conditions like:
- Your Travel LLC must have 49% shares owned by you and the remaining 51% owned by a local sponsor
- In case of the inbound tour operator business in Dubai, provide the irrevocable bank guarantee in the name of DTCM
- If you’re an outbound tour operator, then you need to submit the irrevocable bank guarantee of AED 200,000 in the name of DTCM
- Submission of irrevocable bank guarantee of AED 100,000 in case of travel agent activity
- Suppose you need to run all the three travel business activities, make sure to submit the total bank guarantee of AED 400,000
4-Submission of Application and fee payment
Lastly, you need to submit the license application and pay the fees after providing the aforementioned documents. It’s an extremely essential step that you need to perform carefully. We would suggest you seek guidance from a world-class business consultancy firm in the UAE.
FAQs
Ques 1) What is the best way to start a travel business in Dubai?
One of the best ways to start a travel business in Dubai is to seek guidance from a business consultancy firm and then follow the certain steps they ask you to do. These steps involve travel activity selection, documentation collection, deciding on the company name, and much more.
Ques 2) Can you tell me how much it costs to start a travel agency in Dubai?
The cost of starting a travel agency in Dubai completely depends on the type of travel activities you will perform. For instance, if you wish to incorporate an outbound travel company in Dubai, you need to submit the irrevocable bank guarantee of AED 2000,000.
Ques 3) Is it possible to set up a travel company in Dubai as a foreigner?
Yes, it’s possible to set up a travel company in Dubai as a foreigner. All you need is a local sponsor who is ready to invest in 51% of your company’s shares.
Ques 4) How can I acquire a travel agency license in Dubai?
In order to acquire a travel agency license in Dubai, there are certain steps you need to follow. Here are some of them:
- Payment of initial approval fee
- Agency’s trade name approval
- Submission of insurance policy
- Provide a lease contract
Wrapping it up:
Undeniably, if we talk about LLC company formation in Dubai for a travel business, there is unimaginable growth. And after going through this article post, you will definitely agree with it.
Hopefully, this article post gave you a rough idea about starting a tourism business in the Emirates. Feel free to get in touch with Industry experts if you need some advice for incorporating a travel LLC in the UAE.
5 Common UAE Visa Renewal Mistakes Startups Must Avoid in 2022
Undergoing UAE visa renewal can be a hustle-bustle if you don’t apply for it to the concerned authorities on time. What next? You need to face all the inconveniences to stay in this nation of world-class infrastructure and facilities.
One of the consequences of not renewing the UAE visa on time can be the high penalties per day. So, it becomes a priority to renew your residence visa in the Emirates.
Let’s explore the 5 mistakes you have to be aware of while applying for your visa renewal in the UAE.
5 Mistakes Startups Must Avoid While Applying For The UAE Visa Renewal
1-Carelessness While Deciding on the Company Structure
Several times you might choose the irrelevant company structure for performing your business activities in the UAE. The only reason why it happens is the mistake while deciding on your company structure for setting up an entity in the UAE.
It’s always better to seek guidance from the industry experts before applying for the license renewal of your company. Currently, here are a few types of company structures you can choose from:
- Sole proprietorship.
- Civil Company.
- Branch of Foreign Companies/Representative Office.
- Branch of GCC companies.
- Limited Liability Company (LLC)
- Partnership.
- Private Share Holding Company.
- Public Share Holding Company.
2-Less Research On Marketing Challenges
As the advancements in the industry transform each day, the marketing challenges also take a new hike. And the scenario is the same in every country, no matter where it is and what’s its global ranking.
For instance, the real estate market is booming in Dubai and simply angles towards upcoming scopes. So, if you wish to renew the license for your real-estate entity, then make sure you know what’s going on in the industry.
3-Missing Out Important Documents Requirements
Did you check the required documents for visa renewal in the Emirates? Are they updated? Make sure all the required documents are up to the mark before submitting them to the concerned authorities. Here are the basic documents required you need to provide:
- a sponsor with a valid residency permit A proof of sponsor who has a valid residency permit
- If you are above 18 years of age, you need to pass a medical test
- In case of Dubai and Abu Dhabi, present the insurance card
- Show a renewed ID issued from ICA
- The sponsor must reapply or submit an application through a typing office for renewal of the residency permit, whether it is the public sector, a private sector company, or a personal sponsor.
- Sponsor’s original passport
- A photo of the sponsor
In the private sector, the sponsoring company must submit the following additional documents:
- Valid firm card’s copy
- Sponsor’s renewed labour card copy
- Valid trade license’s copy
- Those who are 60 years old and above should submit the receipt for their labour card renewal.
4-Negligent Behaviour While Hiring Skilled Workforce
Hiring a skilled workforce while renewing your UAE visa and business license is the most essential thing you shouldn’t skip. Firstly, a skilled and dedicated team contributes to the growth of your organization.
Secondly, they give a better shape and environment for enhanced work culture. Well, recruitment is not as easy the way it sounds. You need experts to do it. The best way to do it is by hiring a professional HR consultancy firm in Dubai.
5-No Prior Planning To Manage Risks
You business might fall if you don’t renew your UAE visa after planning risk. Today, applying for visa renewal involves the processes similar to that of starting a company in UAE. So, you can’t neglect the essence of planning risks in your company.
Risk management is extremely essential in any organization. It’s because after understanding the potential risks, you can effortlessly create strategies to handle them. Moreover, staying in the UAE won’t be a burden on you.
FAQs
Ques 1) What can I do to renew my UAE visa without leaving the country?
You can effortlessly renew your UAE visa by visiting the immigration office without even leaving the country. All you have to do is to pay the asked fee and follow the required procedures.
Ques 2) How many passport-sized photos do I have to submit for the Emirates visa renewal application?
In order to renew your UAE visa, you need to provide atleast two passport-sized photographs.
Ques 3) How much time does the entire process of UAE residence visa renewal takes?
It might take the maximum time of 7 working days for the completion of the entire process for renewing your UAE visa.
Ques 4) What is the latest UAE residence visa renewal fees for the year of 2022?
There is an annual fee of AED100 for UAE residence visas. Moreover, the processing fee can also vary depending on where you apply, ranging from AED70 if you apply in person to AED40 if you apply online.
Wrapping it up:
UAE holds unlimited opportunities when it comes to expanding your business. Thus, you need to be vigilant while applying for the UAE visa renewal. Hopefully, this article post on the don’ts of UAE residency visa renewal will help in getting your visa quickly.
7 Ultimate Steps To Acquire eCommerce Business License In UAE (2022 Tips)
Willing to acquire an eCommerce business license in UAE but don’t know where to start? Check out this guide to know the ultimate steps for the eCommerce business license registration procedure.
Believe it or not but eCommerce platforms are gradually becoming the talk of the town. And why not. After all, eCommerce stores help you in reaching your target audience worldwide and that too without spending much on marketing. Surprisingly, the E-commerce sales in the UAE are expected to grow by an average of 23% per year between 2018 and 2022.
Now, the question is, “ How are you going to become a billionaire after attaining an eCommerce business license in Dubai?” Well, it’s easy. But before that, let’s explore the opportunities and benefits of incorporating eCommerce businesses in the UAE.
What are the opportunities and benefits of getting An eCommerce Business License In The UAE?
Did you know? As per the reports by UAE National Economic Register, the eCommerce sector issued the highest number of eCommerce business licenses. Here are some good things about setting up an eCommerce entity across the regions of the UAE:
- Benefits of zero taxes, excluding 5% of VAT
- There isn’t any additional fee required for starting the business or during the entire business process
- Permission for multiple currency transactions
- Expatriates get 100% ownership
- No restrictions on capital withdrawal
- Minimal cost of operation
How Many Types of E-commerce Licenses in UAE are currently available?
Now, when you know the benefits of starting an eCommerce business in UAE, let’s explore the types of eCommerce licenses.
E-trader license
The e-trade license scheme by the DED(Department of Economic Development) aims to help online stores on various social media platforms, including Facebook, Snapchat, Instagram, etc.
These online stores can get an eCommerce license, no matter what platform they are currently running. Currently, only UAE citizens can are eligible to avail of this scheme. Additionally, this scheme restrains individuals from launching a physical store.
Portal License
Even non-UAE citizens can are eligible for obtaining this type of eCommerce business License in UAE. You can lap up the benefits of linking your buyers and sellers with each other via portal license. This type of license is extremely beneficial for listing websites.
Virtual Company License
Another essential eCommerce license is a virtual company license. However, its business scope is limited to only three sectors, including:
- Computer and technology
- Designing Related Businesses
- Printing and advertising related services
Here are the 7 steps you need to follow to get an Ecommerce Business License in Dubai
1-Analyse The Legal Structure Of Your Ecommerce Business
Prior to starting your business, it’s essential to understand the legal structure of your business. Choose your suitable business model from the following list:
- business-to-business(B2B) model
- business-to-client(B2C) model
- client-to-business(C2B) model
2-Select The Suitable Location For eCommerce Business Incorporation In Dubai
Once you know the legal structure of your eCommerce entity, the next step is to choose the most suitable location for your business. This location complete depends on the type of business activity you practice. Presently, there are 30+ free zones and 2 Dubai Mainland locations available for incorporating aN eCommerce business in UAE.
3-Register Your eCommerce Entity’s Name
After picking the relevant location, another step is to begin the registration process of your eCommerce trade’s name. Go to the suitable Economic Department for collecting the registration form and fill it up.
Point to Remember:
Make sure you are using a name that’s valid as per the norms decided by the UAE government. Avoid using foul, religious, and controversial terms in your entity name.
4-Submit Your Dubai eCommerce License Application
One more important step for completing the registration process of your eCommerce business is to submit the license application. Check below the list of documents you need to present:
- The application form must be filled out completely
- A copy of each shareholder’s passport/visa
- Investors and shareholders must provide proof of their identity and address
- Copies of sponsors’ passports/ Emirates IDs
- An agreement between a local service provider and a civil contractor
- Obtain a letter of authorization or NOC from the appropriate authority
- Memorandum & Articles of Association
5-Rent A Physical Space For Your Business
Your eCommerce store isn’t considered a legal entity without a physical office space. Make sure you have one for performing and managing your business activities, such as shipping.
6-Accede to the Export/Import Regulations
Make sure your business has a registration with one of the ports and customs authorities. It will allow you in receiving an importer’s code. Right now, UAE imposes a custom duty of 5% on imported goods. You can sell your product/service within the free zone regions without any import duty if your company belongs to Dubai free zone.
7-Set Up A Corporate Bank Account
Setting up a corporate bank account is also essential for hassle-free transactions of your eCommerce store in Dubai. The application procedure to open a corporate bank account is quick and easy. So, all you need to do is to look for the bank that fulfils your trading needs and open an account in it.
Wrapping it up:
Without a doubt, the opportunities for eCommerce businesses are gradually increasing in Dubai. And this is a motivating factor for investors to acquire an eCommerce business license in UAE for making a profit.
We hope this article post is going to help you in getting an eCommerce business license without any hassle. However, there are chances you may feel stuck while applying for the eCommerce license. Well, you can call experts in that situation.
The Ultimate Fact Sheet About Dubai Offshore Company Incorporation (Pros & Cons)
Every entrepreneur desires to grow with limited expenditure and it becomes achievable through Dubai Offshore Company Incorporation. Do you know how? After all, having an offshore company in the UAE has more liberal laws than in Dubai Mainland regions.
But as we all know, every good thing has a few drawbacks too. Even the Offshore zones of Dubai have some glitches when it comes to doing business.
Are you now eager to know both the pro and cons of forming a company in offshore companies in Dubai? Well, it’s essential to give you a brief introduction to offshore companies before it. Let’s dive in.
What are Offshore companies in the UAE?
Offshore firms in the UAE are also popular as ‘paper’ companies amongst investors and entrepreneurs. An offshore company is a 100% foreign-owned limited liability company which doesn’t require a trade license for business activities. Here are some of the regions suitable for offshore company incorporation across the UAE:
- Jabel Ali Free Zone (JAFZA)
- Ajman Free Zone(AFZA)
- Ras Al Khaimah(RAK)
Now, let’s check out a few pros of establishing a business in offshore regions of Dubai.
Pros of Dubai Offshore Company Incorporation
As we said earlier, forming an offshore company in the UAE has a plethora of advantages. Such firms get impeccable freedom from various governmental authorities and formalities. And these convenient procedures have been attracting investors and entrepreneurs to invest in UAE offshore companies for years.
Enlisted below are some of the benefits of incorporating an offshore company in Dubai.
- Offshore entities exempt you from various taxes and several monetary advantages that reduce extra company expenditures.
- The state laws do not regulate the offshore companies which give them even more freedom in doing trade.
- As an entrepreneur, you can perform a cornucopia of transactions without any hassle or limitation.
- Registering an offshore company is a faster process than other types of companies across the UAE.
- You don’t need to look for an Emirate sponsor to establish an offshore company. It means you can hold 100% shares of your company.
- Your entire information related to shareholders and board of directors remains confidential for offshore companies in the UAE.
- Being an offshore company owner, you don’t have to undergo financial audits from the authorities.
- One can enjoy the Freedom of getting the benefits of authorized multi-currency accounts in UAE offshore firms.
Cons Of Dubai Offshore Company Incorporation
Although there are neverending benefits of setting up an offshore company in the UAE, there are certain drawbacks to it too. Forming an offshore company is just beneficial for some sort of business. Scroll down to know a few shortcomings of incorporating offshore companies in Dubai.
- You can’t perform your business activities inside the UAE with an offshore company.
- There are limitations to getting local complexes on rent for the purpose of trade.
- In an offshore entity, you get the authority to issue a visa, this thing becomes complicated if there are multiple owners in your company.
- Setting up an offshore company is beneficial only for a certain types of business activities.
- The requirement for hiring a company registration agent to complete offshore company registration in UAE.
Wrapping it up:
Undeniably, going for Dubai Offshore Company incorporation will be a great opportunity if you wish to save business establishment costs. And since the pros of UAE offshore companies are more than the cons, it gives you ample reasons for setting up an offshore company in the UAE.
All you need to do is to follow the right set of procedures for doing it. These procedures include everything, from choosing the firm name to opening an offshore bank account.
Are you confused about whether your business activities are suitable for UAE offshore company setup or not? Feel free to connect with the experts at TVG for hassle-free offshore company registration in Dubai.
How To Apply For UAE Golden Visa? (Easy Steps)
If you’re willing to apply for the UAE Golden Visa, then must go through this blog post. Check it out!
Think of yourself surrounded by picturesque skyscraper buildings and a plethora of business opportunities. Well, that’s what living in the UAE seems like. This country that never settles for less is a dream for many individuals. And then if you get a Golden Visa here, it’s like a cherry on top. But before that, let us tell you why there is too much hype regarding the Golden Visa.
Why is the Golden Visa of the UAE So Essential?
Back in 2019, the government of the UAE launched the Golden Visa. The motive was to ensure a chance of having a sustainable lifestyle for the foreigners in the country. So, the best thing the government thought of doing was to issue Golden Visas to the eligible candidates.
Along with bringing a privileged status for residents, it brings a plethora of perks. If you are an entrepreneur or professional, then having a Golden Visa saves you from several barriers in the accomplishment of several processes.
In simple words, it’s a long-term residence visa for individuals who believe in showing exemplary performance in their profession. Unlike the “Kafala” sponsorship system where the foreigners generally get limited residence permit duration, the residence term is 10 years in Golden Visa. Eager to know how to apply for it? Let’s dive in.
Benefits of UAE Golden Visa
If we talk about the Golden Visa system, then all we hear is its neverending benefits. It offers 5 and 10 years long-term residency that’s eligible for renewal. Here are the following groups which get advantages of it:
- Investors
- Entrepreneurs
- Individuals with outstanding talents( researchers, medical, scientific and other knowledged professionals)
- Outstanding Students
Recently, the General Directorate of Residency and Foreigners Affairs(GDFRA) launched the 24*7 service called, ‘You are Special.’ Although the service was announced last year, it became operational this March.
The focus of the service will be to assist Golden Visa holders. Isn’t having a Dubai Golden Visa a win-win thing? Now, it’s time to tell you the eligibility criteria to apply for it.
What are the eligibility criteria to apply for the Golden Visa?
When it comes to eligibility criteria to apply for the Golden Visa, it’s might differ from group to group. Here is what you need to know about the golden visa eligibility criteria.
Requirements For Investors
As an investor, there are a few things you need to keep in mind while applying for a Golden visa. Just cross-check if you’re fulfilling the following criteria:
- Must have at least AED 10 million of public investment (Either as an investment fund or a company) for 10-years golden and AED 5 million for a 5-years visa
- 60% of the total investment should not be in the form of real estate, loan or any kind of assets
- Investors require to have 100% ownership
- Being an investor, you need to hold the investment for a minimum of 3 years periods
In addition to entrepreneurs, people with specialized talents like doctors, researchers, scientists, Executive Directors, Educators (in priority fields), Sports, Ph.D. Holders, Engineers, investors, and artists can also apply for the golden visa. These individuals can receive a 10-year visa after accreditations are granted by their respective departments and areas and the visa will also be extended to their parents, spouses, and children if the graduate has the financial means to do so and is able to provide accommodation.
Requirements For Individuals with Outstanding Talents
Even individuals with outstanding talents can apply for Golden Visa. Yes, you heard it right. You don’t require to be an entrepreneur for it. So, if you hold a special talent in the fields of medical science, sports, various arts, and more, then too you can apply for the Golden visa. Scroll down to know a few of the important criteria:
- Scientists: Accreditation by the Emirati Council of Scientists or must hold the Mohammed Bin Rashid Medal for Scientific Excellence
- Artists: Accreditation by the Ministry of Culture and Knowledge Department
Although the aforementioned points are just a few criteria, it’s beneficial to seek advice from a management service for easy Golden visa processing.
Criteria For Students
Good grades might not buy you a castle, but they’ll definitely get you a Golden Visa of UAE. Dubai’s government allows academically sharp students a chance to explore their potential. So, they offer them a chance to relocate to UAE without any hassle. If you secured 95% grades or above in graduation, you’re eligible to apply for the Golden Visa.
How to Easily Apply For UAE Golden Visa?
I think after reading about the endless benefits of a Golden Visa, you might be eager to know how can you apply for it. Well, you just need to visit the official website of the Federal Authority for Identity and Citizenship (ICA)or the General Directorate of Residency and Foreigners Affairs (GDRFA). Both the authorities work under the supervision of the Ministry.
ICA offers you online channels, whereas GDRFA provides both online and offline channels.
Wrapping it up:
Indeed, having a UAE Golden Visa gives you a cornucopia of benefits you can enjoy with. This country of skyscrapers has a strong security system, state-of-the-art infrastructure, liberal trade laws, and much more. Ready for the hassle-free processing of a Golden Visa in Dubai? Get in touch with Visa experts today!
6 Reasons Why Dubai Mainland Business Incorporation Is A Win-Win Game
If you’re planning for Dubai Mainland business incorporation, it can be a win-win game. And why not? After all, Dubai’s surprising industrial growth isn’t hidden from anyone. It simply implies that Dubai Mainland Company formation is the most preferred option for many investors.
One reason is the advantage of 100% repatriation of profits and capital gains investors get while doing business in this skyscraper’s city. Eager to know the other reasons? Let’s dive in.
6 Reasons Why Dubai Mainland Company Formation Is A Win-Win Game
Your decision makes sense if it’s setting up a company in Dubai Mainland. Want to know why? Check out these below-listed reasons:
1. Exposure to the local Market Place
One thing that’s really exciting about Dubai is its local market. It holds a strong place with a plethora of opportunities for business aspirants. No matter which industry you belong to, there are endless scopes for your company to thrive. Here are a few industries that are doing exceptionally well in Dubai today:
- Retail
- Tourism & Hospitality
- Hospital & Health Care
- Marketing & Advertising
- Automobiles
- Construction
- Food & Beverages
- Education and Consultancy
- IT & Softwares
2. Liberty to Trade Within Dubai and Other Regions in the UAE
After setting up your company in Dubai Mainland, you can enjoy the freedom of trading with Dubai and other Emirati regions. Thanks to the liberal trading permissions this city grants you. In short, there are no restrictions on legal and legitimate trading activities.
All you need to do is to connect with the DED(Department of Economic Development) and other government bodies for the completion of legal procedures. Just submit the required documents after placing the request for approval.
3. Benefit of 100% Business Ownership
The need for 100% ownership is always a major concern for entrepreneurs and investors whatsoever the business is. Which business owner likes to share his/her equity? It only happens either due to the shortage of funds or strict company laws of the country.
In Dubai Mainland, at least you don’t have to bother about the company ownership laws. It’s 100% ownership without any need of hiring the local sponsor/UAE national according to the latest amendments.
Also Read 7 Explicit Benefits Of IFZA Company Formation In UAE You Must Know
4. Freedom To Bid for Government Projects
Another good thing about Dubai Mainland company formation is the exposure to investing in lucrative government contracts. In case you win these projects, your reputation in the market will eventually hike. Consequently, it will enhance your credibility in the Emirate’s corporate world.
Bidding for government projects isn’t possible with Free zone companies despite their favorability for business activities. Additionally, you get to learn a lot from government contracts.
5. Lenient Tax Laws
Tax laws are the biggest barriers for companies that often stop them from investing in a business. However, the situation is completely different when it comes to carrying out business activities in Dubai Mainland. Well, there isn’t any corporate tax. Yes, you heard it right.
The maximum you will require to pay will be the VAT and it’s not too pricey. Just 5% on tax-registered businesses. Besides that, the Dubai government is extremely transparent to all businesses.
6. Access To Unlimited Number Of Visas
Having access to an unlimited number of visas plays an essential role if you wish to expand your business across the UAE. Unlike free zone businesses, Dubai Mainland businesses get the freedom to apply for multiple visas depending on the company requirements. All in all, the more visas you apply for, the more office space you get to rent.
This advantage will be helpful for your business in a situation where your employees ask to work remotely. Thus, you can request the MoHRE (Ministry of Human Resources & Emiratisation) to grant you permission in renting out the extra office space.
Wrapping it up:
Indeed, incorporating your dream venture into the Dubai Mainland is a lucrative business opportunity you shouldn’t miss at all. You get the exposure to take government projects, enjoy liberal government policies, and 100% ownership more than it.
Ready for the big move? Connect with the mainland license experts for Dubai Mainland business incorporation today.
7 Explicit Benefits Of IFZA Company Formation In UAE You Must Know
Thinking about why should you prefer IFZA company formation in UAE? Well, there is a myriad of reasons you must prefer it. Do you want to know why? Let me give you an example.
Imagine you established your office in the UAE without spending a hefty budget on it. Doesn’t it sound like a perfect deal? It happens in the free trade zones of Dubai. And IFZA (International Freezone Authority) is one of them.
IFZA is gradually transforming into a leading investment hub for national and international business owners Thanks to the ample trading benefits for performing various business activities here. Let’s dive in to have a glance at a few of those benefits.
7 Explicit Benefits Of IFZA Company Formation In UAE
1. Affordable Setup Costs
The prior concern when it comes to setting up a Freezone business in UAE is the cost. It’s the palace where IFZA performs explicitly. Since the establishment of this zone, it’s introducing a plethora of highly attractive company formation packages at the most cost-friendly rates as compared to other UAE-free zones.
2. Comparatively Lower Annual Renewal Prices
Freezone Company Licenses usually demand annual renewals. This thing can further add to the cost of your business operations. Fortunately, the prices of renewing the IFZA’s licenses are comparatively lower. It can further help your business in reducing the cost of your company’s formation. All in all, being a business owner you can get advantages from low-cost company incorporation expenses and ongoing company renewal charges.
3. Faster Business Incorporation Procedure
Another advantage of IFZA Free Zone company formation is the swiftness of this process. You don’t need to be physically present in the IFZA area while registering your business. Moreover, IFZA provides an extremely convenient approval scheme in comparison to other authorities. Ultimately, it allows you to incorporate your business in this region within eyes’ blink.
4. Advantages of opening A LLC Business
An LLC (Limited Liability Company) structure has always been a preferred option for investors while starting a business. It’s the adaptability of this company formation structure that makes it possible. In IFZA Free Zones, you get the liberty of opening an LLC business for independent entity operations. As a result, it becomes appealing to run your business in the IFZA areas of UAE.
5. Accessibility of 1000+ Business Activities
The IFZA Freezone brings in six different license categories that cover over 1000 possible business activities. Wondering what it means? Basically, IFZA is among the free zones in UAE that lets investors combine activities like consulting, services, and trading under one license. However, these trading activities should belong to a related business field. Furthermore, each company license type allocates different visas resulting in future savings.
6. Adaptability in upgrading licenses
One more good thing about IFZA company formation in UAE is the adaptability you get in upgrading the licenses. The cost of setting up a company in the IFZA region depends on the allocated visas to the company licenses. Currently, the package splits according to the six visa allocation categories, starting from 0 and ending at 6. As per your business requirements, the IFZA Free Zones give you the flexibility to expand your visa packages later.
7. Ease to Open A Corporate Bank Account
Opening a corporate bank account is an inevitable step that businesses have to take while registering their business. But don’t you think this process needs to be hassle-free? Of course, you do. Well, it’s easy in the IFZA regions of UAE. IFZA offers a vast list of banks where business owners can effortlessly open their bank accounts.
Final Thoughts:
Undeniably, forming your business in IFZA areas is an effective way to register your business in Dubai. It’s achievable with the help of professional business consultants. Are you ready for this life-changing step towards a successful business in the free zones? Get in touch with experts for IFZA Company Formation In UAE.