Company Setup in IFZA – Easy, Profitable, Flexible
The UAE, particularly Dubai, has established itself as a dominant player in the business world, with various developments taking place. One such noteworthy addition is the International Free Zone Authority (IFZA), located only 20 minutes away from the Dubai International Airport. IFZA aims to provide investors with a promising destination for their businesses. It forms a crucial part of Dubai's business plans and offers an innovative infrastructure to all business owners, including a variety of free zone packages that offer numerous benefits, with cost-effectiveness being a major advantage.
IFZA caters to businesses of all sizes, from start-ups and small business units to large conglomerates. It is a robust, affordable, and highly popular business hub, regulated by Dubai Silicon Oasis, making it the cheapest free zone for company formation in Dubai and the UAE. The zone offers modern office spaces, corporate units, conference rooms, digital infrastructure, and high-speed Internet connectivity, making it an ideal destination for businesses of all kinds.
This article aims to uncover the different aspects of IFZA, including its features, benefits, licensing process, documentation, and more.
International Free Zone Authority (IFZA), outlining its key features and benefits
IFZA has emerged as a prominent investment hub for businesses in Dubai and across the UAE. Dubai has become a preferred destination for foreign investment due to its notable advantages, including 100% foreign ownership, investor-based benefits, and 100% profit repatriation. Given IFZA's provision of modernized facilities, cost-effective packages adhering to standardized regulations, it has garnered a significant interest from businesses looking to take advantage of these benefits.
Services Available in IFZA Free Zones
- A permit for work is required for the task force
- Authorization for a trade name is necessary
- The creation of a labor card is required
- The renewal of a trade license is necessary
- A business task force requires a visa
- Obtaining a tenancy contract is necessary
- Notarization and legal authentication are required.
Various Amenities and Services are Accessible on the Premises
- Flexible desks and offices
- Warehouses
- Residential apartments
- Retail outlets
- Wi-Fi connections
- Electricity, AC access
- Furniture
- Availability of printers, scanners
- Meeting rooms and conference rooms
- Digital infrastructure
- Corporate units
Pre- requisites for Business Applicant
- The business being conducted must be legally acceptable and fall within acceptable industry categories.
- Individuals must be of legal age, specifically over 18 years old.
- The individual's name must not be associated with any criminal offenses on record.
- The person can either be a private individual, a commercial entity, or both.
IFZA offers various options for Licenses
IFZA offers a variety of licenses to accommodate businesses of all sizes and industries. Below are the types of licenses available for establishing a free zone company in IFZA:
- The Professional License is designed for businesses that provide professional services.
- The Commercial License is intended for businesses that engage in the import, export, and distribution of goods.
- The Industrial License is designed for businesses that oversee the import of raw materials, packaging and processing, and manufacturing of products
- The Consultancy License is intended for businesses that provide consultation services to clients seeking advice or guidance.
- The Service License is designed for businesses that are involved in the production and transportation of various services
- The General Trading License is provided for companies that engage in diverse trading activities across various business environments.
The Procedure for Setting up a Company in IFZA can be summarized as follows
IFZA's company formation process is straightforward and convenient, making it a preferred choice for many entrepreneurs. You can register your company with just a few clicks on their official website. Follow the steps below to get started:
- Select the desired company structure that you wish to establish
- Choose a name for your business that you want to use for trade purposes.
- Select the appropriate type of office space for your business needs, whether it be flexible, shared, or private.
- Complete the application form for company registration by providing all the necessary information.
- Provide all required paperwork for submission.
- You will need to make the required payments for the applicable licenses as per the fee structure provided by IFZA.
- After completing the application and paying the license fees, you will receive an electronic agreement from IFZA
- After signing the e-agreement, you will receive an e-license as confirmation of your company registration in IFZA.
- The process of obtaining an IFZA Dubai License typically takes around 10 working days.
Expenses Related to Licenses Offered by IFZA
- A 1-year IFZA license with a single investor can be approx. 17000 AED to 27000 AED
- A 3-year IFZA license can be approx. 43000 AED to 65000 AED
- A 5-year IFZA license can be approx. 62000 AED to 85000 AED
Documents need to Submitted
- The completed final application form that has been filled out appropriately.
- Copies of the passports of the owners of the business must be provided.
- Copies of the UAE residence visa and Emirates ID are required.
- Photographs of passport size with a white background in color.
Avail Our Company Services in IFZA
Setting up a company in IFZA is a hassle-free and rewarding experience. However, it can be made even more beneficial by seeking expert guidance from a professional organization. At NSRM Taxation & Accounting Consultancy, we provide top-notch company formation services and guide you through the entire process flawlessly. Our team of skilled professionals can handle all your administrative tasks, allowing you to focus on executing your business operations.
Whether you want to establish a company in IFZA, Dubai or anywhere in the UAE, we can provide you with fast, efficient, and corporate services. Our team will handle the complete process of company formation smoothly and relieve you of the burden. It is time for you to concentrate on your business and achieve success, while we take care of all the business formalities!