Overview of IFZA Free Zone in Dubai
The International Free Zone Authority (IFZA) is situated in the Emirate of Dubai. With a range of benefits to offer, it is all set to become a leading, state-of-the-art investment hub that is sure to help the UAE economy thrive further.
The free zone is strategically located to offer easy access to the booming markets. The advantages of setting up a free zone company here include streamlined procedures and open access to major shipping routes and ports.
Why Choose IFZA to set up a Dubai Free Zone Company?
IFZA emerges as one of the most reliable and cheapest free zones in Dubai, UAE. The jurisdiction is known for offering packages tailored to suit the needs of anyone looking for competitive pricing to set up a Dubai free zone company. Besides the pricing aspect, IFZA provides Dubai free zone company formation of the highest standard. Additionally, IFZA offers flexible workspace options in the form of desks, private offices, and office suites.
The Benefits of Business Setup In IFZA
IFZA can easily be considered the ideal location for businesses to establish their presence in the UAE market. IFZA offers the lowest prices, easy-to-follow procedures, and minimum requirements to investors who wish to establish their business in the UAE.
- Most cost-effective business set-up options in the UAE.
- Wide range of commercial, services, and trading activities available.
- Shareholders are not required to be physically present in the UAE for IFZA company formation.
- IFZA free zone companies have limited liability.
- 100% repatriation of capital and profits.
- 100% foreign ownership allowed.
- 0% corporate or personal income tax.
- No minimum paid-up capital requirement.
- Quick company formation process.
- Various visa and non-visa packages available.
- Two-thirds of the world’s population is easily accessible by flight routes.
- You can cater to a population of 9.8 million.
- IFZA companies can do business with free zone and mainland companies.
- IFZA companies can also operate outside of UAE.
- IFZA does not require a no objection certificate from your employer.
- Professional, commercial, and industrial activities can be combined under one IFZA License.
Types of IFZA licenses and companies
The different types of licenses issued by IFZA Dubai for Free Zone Company Setup are:
- Professional: License for consultancy and services businesses.
- Commercial: License for import, export, storage, and distribution.
- Industrial: License for import of raw material and manufacturing and processing of certain goods.
IFZA allows combining up to seven (7) activities that may belong to a single license or different license types.
Most importantly, the authorities facilitate investors by ensuring issuance of licenses in four (4) days and quick registration of the company. Since its establishment, IFZA has offered business setup packages aimed at fulfilling the needs and demands of businessmen from across the world. The investors can easily obtain a license and register their companies without having to travel to the United Arab Emirates.
License Types and Companies Formation Permitted by IFZA
Limited Liability Company (LLC):
This is a legal form wherein the liabilities of the company are its own and do not become the personal liabilities of the company’s shareholder(s). The shareholder’s liability is restricted to the extent of his investment in the company. The assets of an LLC are purchased in the name of the company and not in the name of the shareholder.
Branch:
Existing companies can open a branch in IFZA if the branch and the parent company will carry out the same activity. For the purposes of profits, gains, returns, expenses, debts, and liabilities, the identity of the branch is considered unified with the identity of the parent company.
An LLC and a branch established at IFZA is suffixed by the term ‘FZCO’.
Documents Required for an IFZA Company Formation
The following documents are required for an individual shareholder:
- Copy of passport.
- Passport photo for every shareholder.
- Emirates ID (if the shareholder is a UAE resident).
- Visa copy (if the shareholder is a UAE resident).
The following documents are required for a corporate shareholder:
- Notarized and attested copy of board resolution.
- Notarized copy of memorandum and articles of association.
- Notarized copy of trade license.
- Notarized copy of certificate of incorporation.
How to Set Up a Free Zone Company with IFZA?
The process to set up a Dubai free zone company is made easy with IFZA. You just need to place the order on the website by selecting your preferred package based on your business requirement. InZone offers various packages for all license types, including commercial, professional, industrial, and general trading company license.
Here is the step-by-step process for setting up a Dubai free zone company with IFZA.
- Step 1: Select a package and place the order on the website.
- Step 2: Submit the following documents for the application:
- Clear and colored scanned passport copy of each shareholder.
- Latest UAE entry stamp or UAE visa of each shareholder (if available).
- Emirates ID copy (if applicable).
- Passport-sized photo of each shareholder with a white background (shoulders and head showing, colored, white background, dark clothing, no jewelry, eyewear, no teeth).
- Step 3: We will finalize the application and process the same with IFZA. The license will be issued by IFZA in four to five (4-5) working days.
