IFZA Free Zone is based in Dubai. It migrated there from Fujairah, where it was founded originally. If you are looking for options on how to set up a business in Dubai, you may look at IFZA and check some same zones in this Emirate too. IFZA is a very competitive free zone for Dubai’s free zone company setup. It provides cost-effective fees and a transparent process for traders to set up a business, and with Start Any Business ; it become a more easy process. IFZA free zone has a massive choice of packages, starting from zero visa companies, ending up with multiple visa choices.
International free zone authority (IFZA) has become a worldwide center for new companies set up in the UAE, providing extremely competing pricing and a wide variety of business activities. Setup IFZA company is a famous choice for those looking for the most profitable general trading company license in UAE. Other licenses, like consultancy licenses, industrial licenses, service licenses, and holding licenses, are also declared by IFZA.
Business Setup In IFZA Free Zone
Company registration in IFZA free zone is a quick and easy procedure. To ignore any roadblocks and to have a trouble-free company set up, it is best to proceed with a registered agent like Start Any Business. Our expert team will guide and help you during and beyond the company formation. We will assist you in opting for the right business package at the most reasonable cost to set up your dream company. The international free zone authority is the best choice for overseas traders for company setup.
Step By Step Guide To Open A Company in IFZA Free Zone
- Get initial support for activity and name from the Municipality of Fujairah free zone. Note that the name should not be identical to the name of an existent company.
- Get approval from the worried Ministry/Department in a state the activity is special.
- Write up the company’s MOA and have it approved by the courts.
- A capital supplement certification must be achieved from the banks for cash shares and an auditor’s certificate for both shares and kind shares.
- Submit the application form and initial support with the authenticated copy of the MOA, capital certificate, ownership contract, etc.
- After an investigation by the authorized department, the business name will be listed in the commercial register and have its MOA announced in the Ministry of Economy Bulletin. Then the municipality declares the license.
Types of Licenses offered by IFZA
The numerous types of license accessible in the IFZA free zone are:
- Consultancy License:- This license is assigned to companies that are offering specialist and expert consultancy services for specialists.
- Trading License:- This license allows the licenses to trade items defined on the trade license.
- Service License:- In services license, companies who are into transformation, reproduction, production, and distribution of services are offered a license.
- Industrial License:- This license permits importing raw materials, production, reproduction, manufacture, package and export.
- General Trading License:- It allows licenses to trade a more comprehensive variety of items.
- Holding License:- This license permits the holding of standalone goods and shares in other companies.
Advantages of IFZA Free Zone
IFZA can easily be regarded as the perfect location for businesses to set up their presence in the UAE market. IFZA provides the lowest prices, easy-to-follow process and minimum needs to traders who want to set up their business in the UAE. IFZA has to provide many other benefits like low tax rates, reduced prices, and lower start-up time. A trade license can be declared within 4-5 working days if all documents are submitted according to the laws offered by the administration. Here are the other benefits of IFZA free zone business setup:
- Cost-effective business incorporation solutions
- The wide and comprehensive range of business activities comprising consultancy, service and trading choices.
- Physical presence in the United Arab Emirates (UAE) is not needed for the incorporation
- Ability to incorporate holding companies
- Wide range of warehousing amenities
- 100 % freedom from corporate and income taxes
- 100 % repatriation of capital and profits
- No paid upfront share capital needs
- Different office choices with flexible rental terms
- Easy and fast incorporation and company management
Requirements For IFZA Company Formation
The following documents are needed for an individual shareholder
- Copy of passport
- Emirates ID (if the shareholder is a UAE resident)
- Visa copy (if the shareholder is a UAE resident)
- Passport photo for every shareholder.
The following documents are needed for a corporate shareholder
- Notarized and authenticate copy of board resolution
- Notarized copy of articles and memorandum of associations
- Notarized copy of the trade license
- Notarized copy of the certificate of incorporation.
We at START Any Business have a team of experts who have a full understanding of the mandate methods and documentation and can assist you defended and submit all paperwork on time. We. Can handle the full, end-to-end procedure on your behalf, which offers you the chance to concentrate on establishing your business when we take care of all the time-consuming methods and needs.