IFZA - International Free Zone Authority
- Company setup from AED 12,900
- Registration from 5 Days
- Bank account Guaranteed
About IFZA
For all foreign investors looking to IFZA Dubai Free Zone Company Setup, the IFZA is one of the most popular and cost-effective options. The authority office is in Dubai, Silicon Oasis, where it moved in 2018 from Fujairah. It provides a flexible and attractive environment for new businesses, with multiple packages offered.
Know if IFZA is suitable for your company setup
— Yes If
- If you are looking for low-cost business setup solutions in Dubai, IFZA is perfect for you. It is one of the most affordable and cost-effective in the Emirates.
- Suppose you intend to open an SME or startup focusing on business activities related to services, consulting, or trading. Furthermore, IFZA allows combining activities from various categories without paying extra fees.
- If you’re looking for a free zone with a user-friendly setup process, efficient and fast application processing, and no need for a compliance questionnaire.
- If your staff includes high-risk nationals, IFZA offers a highly available pre-approval process and the chance of their visas being approved.
- Suppose you’re looking for a bank-friendly and reputable free zone. Banks know IFZA, allowing easier bank-related operations such as opening a bank account.
— No If
- If you’re a small business owner with a minimal budget looking for the cheapest company setup options.
- If you are engaged in a large-scale business that needs production facilities or warehouses, we recommend JAFZA or RAKEZ-free zones.
- If you want to focus on the local market and require retail space on the mainland.
Process of IFZA Dubai Free Zone Company Formation
In the International Free Zone Authority, company incorporation and business license insurance take about seven working days. A personal presence is not required for business setup, which can be completed remotely.
Step 1: Choose your business activities and license type
You must decide the business activities of your future company and, hence, correspond with the license type. This is a vital aspect of business setup, as choosing the wrong activity and license can lead to problems during the company’s registration.
This can lead to issues with opening a bank account. This can even make opening such a bank account impossible. IFZA allows seven activities under one single license.
Step 2: Determination of the legal entity of your business
In IFZA, you must specify the legal status of your business. Available company formation types in IFZA include FZCO, free zone company, or a branch of an existing company registration outside or within the UAE.
FZCO companies also operate as LLCs. Although the suffix attached to the names of companies registered in IFZA is FZCO.
Step 3: Prepare and file the required documentation
Submission after preparation of all related documents is necessary. IFZA needs a minimal package of documentation. Registration can be completed without physical presence and takes 5-7 working days. This step further involves the payment of processing and registration fees.
- Three options of company names according to the preference of the owner
- a passport with a minimum of 6-month validity
- if applicable, Emirates ID card and Visa
- residential address
- confirmation of business activity
- and phone number
Step 4: Collect the license and registration documents
These documents include:
- lease agreement
- memorandum of association
- article of association
- trade license
- certificate of incorporation
Step 5: Secure your establishment card
Received the establishment card containing information about your visa quotes and company. The time frame of issuance of your establishment card is around 3-5 working days.
Step 6: Apply for an entry permit
If you’re outside of the UAE during the entry permit process, you must come to the country when the issuance of the documents is under process for the next 60 days.
During that time, you must complete your biometrics and medical test for your visa. If you’re in the UAE when the entry permit is issued, a status change from your previous UAE tourist/residency visa to the new one will be undergone.
Step 7: Take a medical test and submit visa documents
You must undergo a medical checkup and submit all related documents for a residence visa. Varying registration packages may provide for a different number of visas available for company employees and owners. In the IFZA, visas can be processed without needing health insurance.
Step 8: Collect your Emirates ID
Once your visa has been issued, you must secure your Emirates ID card. The issuance post-processing of an Emirates ID and Visa usually takes 5-7 working days after the Visa is approved.
Step 9: Open a bank account
Apply to any bank in the UAE to open a corporate bank account. IFZA is known as a reputable free zone that is known to banks, making the process of account opening much smoother. Once you receive your account details, you can start running your business.
Don't miss out on this limited-time opportunity!
We'd Love To Hear From You
contact us
Find us Here
Office No 20, 4th Floor, Al Moosa Tower 2,
Sheikh Zayed Road Dubai, United Arab Emirates P.O. Box 27614.
Get In touch
+971 4 824 4842
info@jsbincorporation.com
Send Your Inquiry
License cost for Company Formation in IFZA
IFZA license fees start from AED 12,900 for a no-residency visa and a license. This package includes the registration of 3 business activities, which can either be a service or a trading activity.
Packages with visas start from AED 14,900. The low license fees and the absence of capital requirements make this zone really cost-effective. One of the cheapest licenses in Dubai is the IFZA’s General Trading license. Furthermore, IFZA offers multi-year license discounts of up to 30% for 2-3 years and 5-year packages.
| TYPE OF LICENSE | COST IN AED |
|---|---|
|
Zero-visa services/trading and consultancy license |
12,900 |
|
1: visa trading/service and consultancy license |
14,900 |
|
2: visa trading/services and consultancy license |
16,900 |
|
3: visa trading/services and consultancy license |
18,900 |
|
4: visa trading/services and consultancy license |
20,900 |
What are IFZA licenses and business activities?
In the International Free Zone Authority, a wide range of business activities can be undertaken. Under one license, seven activities can be included, with three of them being free of charge, and the rest will be at additional costs.
The below list provides the various business licenses and their descriptions:
Professional License
You can offer specialized services in fields like real estate, education, management, consulting, and many more.
E-Trader License
You can sell services and goods online in the UAE with an E-trader license, ideal for businesses through online platforms or social media.
Oil Trading License
An oil trading license allows you to access profitable operations and international partnerships in a strategically important region.
SIRA License
With a SIRA license, you can offer security services in the UAE. Audit and Accounting License provide financial services, including tax consulting, auditing, and accounting.
Consultancy License
You can offer professional advice to companies and individuals in areas like finance, marketing, or business.
Typing Center License
Due to the large expat population, document processing services are in high demand in the UAE.
Foodstuff Trading License
This license allows you to sell, distribute, and import food products in the UAE.
IT License
You can start your business in the UAE, be it in IT consulting or software development.
Media License
You can create and distribute content with a media license, covering fields like marketing, PR, media, and advertising.
Commercial License
You can open a business in import-export, wholesale, and retail with access to global and local markets.
What Facilities Do You Get in IFZA?
The International Dubai Freezone Company Setup Authority provides a broad range of office solutions to set up your company in Dubai’s Silicon Oasis Business Park area. This free zone has the premier infrastructure to provide comprehensive customer support for corporate activities.
IFZA is an ideal platform for investors to prosper after launching in Dubai. It has versatile operational opportunities, round-the-clock accessibility, customizable lease terms, and integrated commercial and accommodation spaces.
The infrastructure provided includes:
- Flexi desk: A hot desk, brilliant desk, or Flexi office. Ideal for those who don’t need a permanent office, it’s a non-dedicated desk in the free zone’s co-working area with basic facilities.
- Serviced desks: These are fully managed desks with support services such as mail handling, reception, and internet.
- A dedicated office is a private office reserved for one company that offers complete control of space and privacy.
- Suite: A more extensive, often luxurious office space offering multiple work areas and rooms for a single company or team.
- IFZA business park facilities: This offers a range of sophisticated meeting rooms with equipment well suited for 4-6 individuals and a versatile event terrace for up to 200 people.
- A non-furnished office offers flexibility, as you can design this office space according to your requirements.
Know about IFZA residence visas
By registering your free zone company, you become entitled to UAE residency. Company employee and owner visas are valid for 2 years and can be processed remotely without the necessity for health insurance.
High-risk country individuals such as Turkey, Egypt, Bangladesh, Iraq, Syria, Algeria, Sudan, etc. are most welcome in this free zone. Dubai-free zones have fewer immigration restrictions.
| IFZA FEE IN AED | Medical check-up cost in AED | Emirates ID cost in AED | |
|---|---|---|---|
|
Owner |
4,750 |
850 |
390 |
|
Employee |
3,750 |
850 |
390 |
IFZA family visa
To bring your family to the UAE and obtain dependent visas, you must do the following:
- You must rent an apartment in the UAE.
- You must attest the birth certificates and marriage certificates at the Ministry of Foreign Affairs of the UAE and embassy of the UAE.
- Arabic translation of the birth certificates is required
License renewal cost for IFZA company
The process of renewal of the business license offered by IFZA is much quicker and easier. The price is similar to that of first year license registration minus the discounts accumulated plus additional costs.
During the renewal of the company, no further amendment charges are applicable. You must submit an application form with all necessary documents to the authorities of the free zone in order to renew your business license. Then you must pay the fee and await your license renewal.
| FEE | COST IN AED |
|---|---|
|
IFZA license renewal (for zero visa package) |
12,900 |
|
IFZA Establishment card renewal fee |
2,200 |
|
Late license renewal fine |
1,000 |
|
The monthly fine for working under an expired license |
100 |
IFZA company amendments and regulations
Company amendments can be made anytime. For any significant changes, a resolution from the Board is required. The list of company amendments supported by IFZA includes:
- Changing the name of the company
- Changing shareholders or managers
- Changing the business activities of the company
- Appointing or resigning positions
- Transferring company shares
Liquidation process for IFZA company
The company can be liquidated easily with the help of a designated representative, and it doesn’t require your physical presence. However, you must pay a liquidation fee to complete the procedure.
Compared to other UAE-free zones, the liquidation of the IFZA company is one of the cheapest.
It costs around 2000 AED to liquidate the company.
- Provision of the following necessary documents:
- audit report
- auditor liquidation certificate
- customs clearance letter
- Business incorporation documents
- Deregistration documentation
- board resolution signed by the shareholders
- Payment of cancellation fees and settlement of other payments. This initiates the process of liquidation.
- All residence visas issued under the company must be canceled, along with the cancellation of immigration-related documents.
- Upon the liquidation process, you will be notified and receive the corresponding documents.
- The company’s closure needs to be advertised in the newspaper.
Conclusion
With JSB Incorporation, the esteemed employees of this company can help you set up your business. They will be right by your side from the beginning of the process till your company is up and running.
In liquidation requirements, our company is experienced in helping you liquidate your business organization. Call us today to learn more.
FAQs
According to the regulations of the Central Bank of the UAE, a personal visit to the UAE is required. However, some banks allow remote account opening.
A flex desk is mandatory for a company to be eligible for resident visas. It is the minimum physical office space that a company with individuals under its visa must have.
VAT obligations depend mainly on the place of registration and where the business activities occur. Paying VAT becomes applicable when the taxable turnover reaches AED 375,000.
UAE is free from personal income tax. However, there is a 5% import tax on goods brought into the country and a 5% VAT on trading or service transactions in the UAE.
While we strive to make the account opening process as smooth as possible, we cannot guarantee approval as it depends on the bank.
Each case goes through several bank departments for approval, and the bank may contact you directly for clarifications.
Don't miss out on this limited-time opportunity!
We'd Love To Hear From You
contact us
Find us Here
Office No 20, 4th Floor, Al Moosa Tower 2,
Sheikh Zayed Road Dubai, United Arab Emirates P.O. Box 27614.
Get In touch
+971 4 824 4842
info@jsbincorporation.com