IFZA Free ZONE
Establishing Your Business with IFZA and Prime Consult
IFZA, also known as the International Free Zone Authority, is a prominent free zone in the UAE. It has positioned itself as a premier investment center in the country and is highly regarded among the UAE’s appealing free zones. This is a result of its prime location, situated just 20 minutes away from Dubai International Airport and Downtown Dubai, as well as its cost-effectiveness.
IFZA Business Setup
The Dubai Silicon Oasis Authority oversees the jurisdiction and presents various IFZA free zone packages for entrepreneurs. These packages come with a range of benefits and are extremely budget-friendly. Entrepreneurs have the option to select either flexi-desk or office spaces when establishing a company, and the costs for IFZA visas are among the most economical in the UAE.
Overall, IFZA is a fantastic option for entrepreneurs seeking a cost-effective and strategically located base for their business in the UAE.
Essential Documents For IFZA Business Setup
The Documents Needed For Setting Up An IFZA Company Include The Following:
⦁ Copies of the passport(s) belonging to the owner/owners of the company.
⦁ A copy of the valid visa(s).
⦁ Two passport-sized photographs with a white background
The Step-by-Step Process for Setting Up Your Business with IFZA
The Dubai International Free Zone Authority (IFZA) has an organized and straightforward approach to establishing your enterprise there. To successfully initiate your company, follow these steps:
⦁ Fulfill the Eligibility Requirements
First, you must meet the eligibility requirements set by the authority in order to register a company in IFZA Dubai. These criteria include:
⦁ Gather and submit all necessary documentation in compliance with IFZA requirements.
⦁ Ensure payment of the registration fees required for the selected company type.
⦁ Adhere to the minimum capital requirements specified for your chosen company structure.
⦁ Take into account the type of entity you want to collaborate with based on your business goals.
⦁ The registration process typically takes 3-5 days, depending on the company type and business activities.
Types of Businesses
- The Free Zone Company (FZCO) is the most popular choice among entrepreneurs and small businesses in IFZA Dubai.
- Branch Offices are well-suited for larger companies seeking to expand into IFZA Dubai.
How to Register a Company in IFZA, Dubai
⦁ Select the specific business activity you intend to carry out in IFZA.
⦁ Choose a distinctive business name and then request initial approval from IFZA.
⦁ As part of the registration process, present all required documents.
⦁ Once the documentation has been reviewed, obtain the necessary company license.
⦁ Complete the VAT registration process if required.
⦁ Our specialists in IFZA free zone company formation provide a simplified and efficient registration process to swiftly commence your business operations.
Advantages
- ⦁ Complete Ownership: Foreign investors have the privilege of owning 100% of their businesses, giving them full control and authority.
- ⦁ Profit Repatriation: Transfer all profits back to your home country without any restrictions.
- ⦁ Lower Corporate Tax: Exempt from paying corporate taxes if not conducting business with mainland companies, allowing for profit retention and reinvestment.
- ⦁ Global Market Access: The diverse global business community in IFZA provides opportunities for networking and valuable partnerships.
- ⦁ No Physical Presence Needed: Complete the process of registering your IFZA company without being physically in the UAE.
- ⦁ Versatility for Multiple Operations: Conduct a variety of activities under a single license to diversify and expand your business.
IFZA Business License Choices
General Trading License In IFZA The General Trading License in IFZA allows companies to trade a wide range of products across various industries, locally and globally, encompassing multiple activities under a single license, with some exceptions such as arms and alcohol. IFZA also provides a Commercial Trading License that permits up to three business activities under one General Trading License.
Professional License Ideal for businesses offering professional consultancy and various service categories such as technical and lifestyle services.
Commercial License Authorizes importing, exporting, distributing, and storing specified items.
IFZA license costs are highly affordable starting from AED 14,900*. These packages range from zero visa packages to 6 visa packages, permitting all business activities authorized in IFZA by the Dubai Department of Economic Development (DED).
IFZA visa costs start from AED 3750*. The free zone frequently introduces promotions and improved pricing to assist investors interested in company formation in IFZA.
License Renewal In International Free Zone Authority
Renewing businesses in IFZA is cost-effective and straightforward. To renew your company, pay the renewal fee and submit the signed lease agreement for your facility. You can renew your license through an agent without being present in the UAE.
Business Liquidation In IFZA Free Zone
Similar to renewal, liquidating a company does not require the owner’s physical presence and can be done through an agent. Payment of a government fee is required for the liquidation process, and investors must provide a detailed audit report at the time of license liquidation. The company liquidation process takes about one month and involves:
⦁ Cancellation of visas
⦁ Termination of the lease agreement
⦁ Closure of bank account
PRO Services Required In The IFZA Free Zone
⦁ Approval of Trade Name
⦁ Issuance of Labour Establishment Card
⦁ Amendment of Trade Licenses
⦁ Notary and Legal Authentication services
⦁ Procurement of Tenancy contract
⦁ Ejari registration and obtaining a unique Ejari code
⦁ Trade license Renewal
⦁ Processing of residence visas for all employees and other business officials
⦁ Acquisition of work permits for employees
Ready to Migrate? Secure Your Free Immigration Consultation.
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