Latest news with #IFZA
Zawya
12 hours ago
- Business
- Zawya
IFZA expands global footprint
Dubai, UAE – IFZA, one of the world's most dynamic and fastest-growing Free Zone communities, proudly announces the launch of IFZA Panama, a landmark step in its global expansion strategy. The new Free Zone in Panama City marks IFZA's first physical presence in Latin America and reinforces its commitment to fostering global entrepreneurship and interconnected business ecosystems. In a significant move, the Government of Panama has officially granted IFZA a license to operate a Free Zone in the country. This initiative will allow IFZA to bring its proven model of growth-oriented, investor-friendly infrastructure to Latin America. Panama, often referred to as the 'hub of the Americas', shares many synergies with Dubai. It is a vibrant trade and financial center, home to over 60 local, regional, and international banks. Its strategic location—bridging North and South America—combined with the Panama Canal and a globally connected air transport network, makes it an ideal location to support nearshoring strategies and international expansion. 'Our expansion into Panama is a natural extension of IFZA's global growth strategy,' said Martin G. Pedersen, Chairman of IFZA. 'Panama's strategic geographic position, robust banking system, modern infrastructure, dollarized economy, and business-friendly regulatory framework make it an ideal partner for our next chapter. We are deeply committed to working collaboratively with the Panamanian government and local stakeholders to create shared economic value.' Demonstrating a strong commitment to global compliance standards, Panama was removed from the FATF grey list in 2023 and from the EU's list of high-risk countries in 2024 — a development that further boosts its appeal to international investors. The Free Zone will serve as a mixed-use hub supporting a broad range of industries, including professional services, technology, logistics, trading, software, and industrial sectors. 'Business has a superpower to connect people, cross borders, and breakdown barriers,' commented Jochen Knecht, CEO of IFZA. 'Through IFZA Panama, our goal is not merely to open a Free Zone, but to build a bridge between Latin America and the UAE, enabling businesses to expand with confidence and shared purpose.' With a track record of supporting over 60,000 businesses across its global ecosystem, and presence and partnerships in more than 50 countries, IFZA is uniquely positioned to attract substantial foreign direct investment into Panama. Companies operating within IFZA Panama Free Zone will benefit from significant fiscal advantages, including exemptions from corporate income tax, import duties, and VAT - making it a powerful base for global trade and expansion. In addition, businesses establishing themselves in the Free Zone will gain access to a comprehensive, end-to-end suite of services, including: Company formation and incorporation Visa and immigration assistance, including family sponsorship Office and workplace solutions Corporate banking support Accounting, tax registration, and advisory Relocation guidance for real estate, schools, and lifestyle needs The Free Zone will align with Panama's national economic vision, contribute to job creation, and position the country as a competitive, innovation-led hub in the region. Beyond its physical footprint, IFZA's goal is to identify high-potential opportunities across Latin America and tailor its Free Zone model to lower entry barriers, ensure compliance, and accelerate business growth. At the same time, the initiative will create opportunities for Latin American companies to access the UAE and broader Middle Eastern markets, including Africa, India and Pakistan. About IFZA IFZA is a highly dynamic and truly international Free Zone Community. IFZA differentiates itself through its multi-national approach, providing personalised business establishment solutions through its network of Government Authorities and Professional Partners. Business Owners and Employees can also benefit from a wide spectrum of value-added services within the IFZA ecosystem, including but not limited to property solutions, visa packages and training and development. The IFZA Business Park offers a wide variety of cutting-edge office facilities tailored to meet each Licensee's individual needs and provides a professional, welcoming environment to greet clients, network with other businesses and thrive.
Zawya
12 hours ago
- Business
- Zawya
IFZA launches new Free Zone in Panama
DUBAI - IFZA, one of the world's most dynamic and fastest-growing Free Zone communities, has announced the launch of IFZA Panama, a landmark step in its global expansion strategy. The new Free Zone in Panama City marks IFZA's first physical presence in Latin America and reinforces its commitment to fostering global entrepreneurship and interconnected business ecosystems. In a significant move, the Government of Panama has officially granted IFZA a licence to operate a Free Zone in the country. This initiative will allow IFZA to bring its proven model of growth-oriented, investor-friendly infrastructure to Latin America. Panama, often referred to as the 'hub of the Americas', shares many synergies with Dubai. It is a vibrant trade and financial centre, home to over 60 local, regional, and international banks. Its strategic location - bridging North and South America - combined with the Panama Canal and a globally connected air transport network, makes it an ideal location to support nearshoring strategies and international expansion. 'Our expansion into Panama is a natural extension of IFZA's global growth strategy,' said Martin G. Pedersen, Chairman of IFZA. 'Panama's strategic geographic position, robust banking system, modern infrastructure, dollarized economy, and business-friendly regulatory framework make it an ideal partner for our next chapter. We are deeply committed to working collaboratively with the Panamanian government and local stakeholders to create shared economic value.' Demonstrating a strong commitment to global compliance standards, Panama was removed from the FATF grey list in 2023 and from the EU's list of high-risk countries in 2024, a development that further boosts its appeal to international investors. The Free Zone will serve as a mixed-use hub supporting a broad range of industries, including professional services, technology, logistics, trading, software, and industrial sectors. 'Business has a superpower to connect people, cross borders, and breakdown barriers,' commented Jochen Knecht, CEO of IFZA. 'Through IFZA Panama, our goal is not merely to open a Free Zone, but to build a bridge between Latin America and the UAE, enabling businesses to expand with confidence and shared purpose.' With a track record of supporting over 60,000 businesses across its global ecosystem and presence and partnerships in more than 50 countries, IFZA is uniquely positioned to attract substantial foreign direct investment into Panama. Companies operating within IFZA Panama Free Zone will benefit from significant fiscal advantages, including exemptions from corporate income tax, import duties, and VAT - making it a powerful base for global trade and expansion. In addition, businesses establishing themselves in the Free Zone will gain access to a comprehensive, end-to-end suite of services, including: Company formation and incorporation; visa and immigration assistance, including family sponsorship; office and workplace solutions; corporate banking support; accounting, tax registration, and advisory; and relocation guidance for real estate, schools, and lifestyle needs. The Free Zone will align with Panama's national economic vision, contribute to job creation, and position the country as a competitive, innovation-led hub in the region. Beyond its physical footprint, IFZA's goal is to identify high-potential opportunities across Latin America and tailor its Free Zone model to lower entry barriers, ensure compliance, and accelerate business growth. At the same time, the initiative will create opportunities for Latin American companies to access the UAE and broader Middle Eastern markets, including Africa, India and Pakistan.
Gulf Today
4 days ago
- Business
- Gulf Today
The Decisive Path: A Chairman's Blueprint for UAE Business Setup
The United Arab Emirates is still adding new companies at a brisk pace, but consultants who work in the sector say the difference between a smooth start and a difficult first year often comes down to the earliest choices made by founders. The country has more than 50 registration options, from mainland licenses to free zones including DMCC, IFZA, RAKEZ, and ADGM. Each jurisdiction offers a different mix of market access, customs treatment, and visa allowances. Industry advisers warn that the wrong selection can lock a company into costs or limitations this will be challenging to reverse. Charlie Patel, founder of Decisive Zone, said most of the problems his firm sees could have been avoided with more planning at the start. 'Activity type, jurisdiction, and licensing all have long-term consequences,' he said. 'If those choices are rushed or misaligned, you can run into banking or visa barriers later.' After deciding on the activity and jurisdiction, applicants move on to name approvals, document preparation, and in many cases leasing premises that meet licensing requirements. Banking, once straightforward, now involves more extensive checks as institutions apply tighter due diligence. Patel said that presenting a detailed and credible business case has become essential for securing accounts. The introduction of VAT and corporate tax has also changed the formation process. Compliance now has to be addressed alongside incorporation to avoid the expense of restructuring later. Patel said his firm — which has worked on more than 7,000 setups across different industries — integrates tax registration and reporting systems into its early-stage work to keep clients aligned with the rules from the start.
Fintech News ME
7 days ago
- Business
- Fintech News ME
Mastercard, IFZA and Global Tax Assistant Launch AI-Powered SME Registration Pilot in UAE
Mastercard has partnered with IFZA, a UAE free zone, and international consulting firm Global Tax Assistant to introduce a fully digital, AI-driven business registration process in the country. The initiative aims to support the growth of SMEs and facilitate their expansion into Eastern Europe, the Middle East and Africa (EEMEA). SMEs account for over 94% of businesses in the UAE and contribute more than 50% of the nation's GDP. The UAE's National Agenda for Entrepreneurship and SMEs seeks to position the country among the top three nations in the Global Entrepreneurship Index by 2031. According to the partners, this project is one of the first AI-powered business registration pilots in the region, reflecting collaboration between the public and private sectors to support SME development through technology. 'The thriving SME economy forms the beating heart of the UAE's diverse business landscape. At IFZA, we believe SMEs are the prototype of tomorrow's global companies, driving innovation, job creation, exports and new business models,' said Jochen Knecht, Chief Executive of IFZA. 'We work together with our partners to equip the country's small business community with the tools and resources they need to succeed.' The process, from document submission to license issuance, will be managed through AI, with automation applied to form completion, document verification and communication workflows, aiming to reduce setup time and operational costs. Mastercard business card holders will be able to access discounted business setup services as part of the arrangement. 'Our collaboration with IFZA and Global Tax Assistant enhances the value we deliver to our business customers, while supporting the UAE's vision of a thriving digital economy,' said Onur Kursun, Executive Vice-President for Commercial and New Payment Flows, EEMEA, Mastercard. IFZA hosts startups from more than 160 countries and offers infrastructure, facilities and business regulations designed for entrepreneurs. Global Tax Assistant provides accounting, legal, auditing and tax consultancy services to clients in the UAE, Oman, Kuwait and Qatar.
Al Bawaba
11-08-2025
- Business
- Al Bawaba
Mastercard, IFZA and Global Tax Assistant launch AI-driven digital business registration process to accelerate SME growth in UAE
Mastercard has joined forces with IFZA, one of the fastest-growing free zones in the UAE, and Global Tax Assistant, an international consulting firm, to launch a fully digital, AI-driven business registration journey in the UAE. The collaboration aims to accelerate the growth of the country's small- and medium-sized enterprises (SMEs) and pave the way for their expansion across the Eastern Europe, Middle East and Africa (EEMEA) account for over 94% of all businesses in the UAE and contribute to more than 50% of its GDP. The National Agenda for Entrepreneurship and SMEs seeks to establish the UAE as an entrepreneurial nation, and one of the top three countries in the Global Entrepreneurship Index by 2031. The collaboration marks one of the first digital AI-powered business registration pilots in the region, reflecting a unique public-private sector collaboration focused on SME enablement through advanced technology.'The thriving SME economy forms the beating heart of the UAE's diverse business landscape. At IFZA, we believe SMEs are the prototype of tomorrow's global companies, driving innovation, job creation, exports and new business models. We work together with our partners to equip the country's small business community with the tools and resources they need to succeed. We are confident our latest joint initiative will boost the UAE's global competitiveness as a business hub with progressive infrastructure,' said Jochen Knecht, CEO, end-to-end onboarding process – from document submission to license issuance – is powered by AI, enabling faster, more efficient, processing. Automation across form completion, document verification and communication workflows help reduce setup time and operational overhead for part of the collaboration, Mastercard business card cardholders will gain access to simplified and discounted business setup services, further reducing friction and costs for startups and small businesses in the UAE.'Our collaboration with IFZA and Global Tax Assistant enhances the value we deliver to our business customers, while supporting the UAE's vision of a thriving digital economy. SMEs are vital to regional growth, and this initiative demonstrates our commitment to empowering small businesses through technology, partnerships and financial inclusion,' said Onur Kursun, executive vice president, Commercial and New Payment Flows, EEMEA, Mastercard. 'We are working to build a digital economy for everyone, everywhere. As of 2024, Mastercard has connected 960 million people and 65 million micro-, small, and medium sized enterprises to the digital economy,' he collaboration is closely aligned with the UAE's broader digital transformation agenda and its commitment to strengthening the SME sector – two key pillars of the nation's economic diversification strategy. By digitizing key aspects of business formation and compliance, the collaboration contributes to national goals of fostering innovation, entrepreneurship and sustainable economic development.'Global Tax Assistant is dedicated to helping small business owners unlock new opportunities. We are excited to enter the collaboration with Mastercard and IFZA that aims to contribute to building an enabling environment for entrepreneurship in the UAE by facilitating faster and simpler digital access to business setup. The new synergy enhances our role in providing seamless compliance and advisory services to small businesses in the country. We will also explore the potential usage of the underlying technology in banks' customer journey flows,' said Smbat Alikhanyan, CEO, Global Tax to startups from over 160 countries, IFZA is one of the leading free zone communities in Dubai with world-class infrastructure, state-of-the-art facilities and business-friendly regulations. With more than 10 years of international expertise, Global Tax Assistant provides accounting, legal, financial auditing and tax consultancy services to over 350 clients in the UAE, Oman, Kuwait and Qatar.
