IFZA a dynamic Free Zone community in Dubai, UAE announces the launch of its international branch in Palma de Mallorca, Spain in partnership with PlattesGroup, a renowned tax consulting and law firm.
The move aims to harness the synergy between two cities as they both evolve into attractive and stable destinations for investors.
Over the years Spain and the UAE have strengthened their economic relations with Spain receiving 8 per cent of the UAE’s total non-oil exports to the EU countries and becoming the country’s third biggest European partner in 2022.
Both nations have a special focus on solidifying their prolific cooperation in the fields of business, technology, environment, and other core industries.
In addition, Mallorca and Dubai both attract significant investment from European countries. Spain’s national statistics office reported that 39 per cent of Balearics properties were purchased by non-Spanish buyers in 2022 out of which 43 per cent of these buyers were Germans.
Similarly, 56 per cent of IFZA Free Zone businesses in Dubai are started by European entrepreneurs from countries such as France (14 per cent), Russia (12 per cent) and Germany (10 per cent).
With the launch of the Mallorca office, IFZA is committed to advancing sustainable development and further facilitating Foreign Direct Investment between both economies.
The new office in Mallorca will be a fully equipped, offering a comprehensive range of company formation services.
Entrepreneurs in Spain and the neighboring countries will have unprecedented access to Dubai business set up services such as visa and license support, corporate banking support, commercial office spaces, medical insurance coverage, corporate services, professional upskilling and event services.
This opportunity will enable them to benefit from global business and investment opportunities while staying in Mallorca.
Martin G. Pedersen, Chairman, IFZA says: “Today, we witness the continuation to our vision of being a truly international Free Zone community. With the launch of the first IFZA branch office here in Mallorca, Spain expanding our legacy of success to even greater heights.
The strategic decision to expand IFZA’s operations to Mallorca is driven by the knowledge and confidence that combining Mallorca’s vibrant economy with Dubai’s global trading position will be mutually beneficial and strengthen the global position of both cities.
We look forward to providing localized support and reinforcing our presence across key markets in Europe which advances our aim of being an ecosystem that facilitates new businesses, connections and initiatives.
This is a significant milestone in our fruitful partnership with PlattesGroup, and it will further strengthen IFZA’s role as a bridge from the World to Dubai and from Dubai to the World”
Willi Plattes, CEO of Plattes Group says: “We are proud to collaborate with our long-standing partner, IFZA, which strengthens our presence in the Mallorca, Spain market. The Mallorca office is a testament of our shared vision of being global connectors of business opportunities. We look forward to yielding excellent results from this expansion and promising a future marked by shared prosperity and collaborative success.”
