Company Formation in Ifza Dubai
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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 IFZA business 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. Business setup in IFZA Dubai 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.
IFZA Free Zone Company Setup
Business Setup in IFZA Dubai
Business setup in the 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 company formation in Ifza Dubai. 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 For IFZA Company Formation in Dubai
- Get initial support for activity and name from the Municipality of the 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.
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Advantages of Company Formation in IFZA Dubai
IFZA can easily be regarded as the perfect location for businesses to set up their presence in the UAE market. IFZA business setup has an inexpensive, easy-to-follow process and minimum needs to traders who want to set up their business in the UAE. IFZA offers 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 the company formation in IFZA Dubai.
- 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 for IFZA company formation:
- 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 for business setup in IFZA:
- 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 Ifza business setup when we take care of all the time-consuming methods and needs.
We work closely with all government agencies
Frequently Asked Questions on Business Setup in Ifza Dubai
The cost of a business setup in Ifza, Dubai will depend on the nature and extent of the business. However, the minimum amount required per stakeholder is AED 10,000.
The step-by-step process of IFZA company formation in Dubai:
- Choose the best corporate structure.
- Submit a company registration application.
- Submission of the necessary paperwork.
- Pay the license cost that is due.
- E-agreement issued by IFZA.
- Sign the share capital letter and the electronic agreement (only for FZE & FZCO).
- E-license issuing.
Follow these steps for IFZA business setup:
- Identify the legal entity type.
- Pick a business name.
- Apply to obtain a business license.
- Select a workspace.
- Obtain preliminary permissions, register your company, and obtain your license.
The Sharjah Media City Free Zone, which is located in the Sharjah Emirates, is the most reasonably priced free zone in the United Arab Emirates. A media license is available from SHAMS Free Zone for AED 5,800, while a basic commerce license costs AED 8,050.
The quantity of personnel and the nature of the business activities influence free zone selection. In the free zones, you can either rent or buy office space or a warehouse. Additionally, keep in mind that a corporation may only have a facility in the free zone where it is registered.
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In order to have a business setup in the IFZA free zone in Dubai, you have to follow some steps such as choosing a business activity, applying for a business license, visa process, and bank account opening. The best way is to connect with the business formation consultants to make it very smooth.
The minimum share capital to have an IFZA company formation in Dubai 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 I million share capital. There are different costs for different free zones.