The 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 out some similar zones in this Emirate too. IFZA is a very competitive free zone for Dubai 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 becomes 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 competitive 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 free zone. Note that the name should not be identical to the name of an existing company.
- Get approval from the concerned 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 obtained from the banks for cash shares and an auditor’s certificate for both shares and kind shares.
- Submit the application form and initial support along 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 licenses 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:- With services licenses, 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 authenticated 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 to defend 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.
Frequently Asked Questions on IFZA Free Zone Company Setup
How much does it cost to set up a free zone company in UAE?
The minimum amount for building a free zone company is AED 50,000 per company and AED 10,000 per stakeholder. For a corporation to be granted a general trading license, this must have a minimum of AED 1 million share capital.
How can I start a business in IFZA?
With most of the points occurring online, IFZA free zone company formation turns out to be only some clicks away. All you have to do is visit the official website and choose a suitable package on the basis of your business need. Though to make it smoother for you, Start Any Business consultants are here you guide you and even help you throughout the procedure.
How can I start a free zone business in UAE?
To start a free zone business in UAE, here also some steps that you have to follow are –
• Determine the type of legal unit
• Choose a business name
• Apply for a business license
• Choose an office space
• Get pre-approvals,
• Register your business
• Get your business license
Which is the cheapest Freezone license in UAE?
The cheapest free zone license you can get from the cheapest free zone in the UAE. That free zones are –
• Sharjah Research Technology and Innovation
• Ajman Media City
• Sharjah Media City Free Zone
• Ras Al Khaimah Free zone
• International Free Zone Authority
How do I choose a free zone?
You have to take into consideration both the location and the infrastructure within a free zone and the obtainability of selected facilities as not in all free zones such particular features as warehouses or retail shops are obtainable.