IFZA Free Zone Dubai
The International Free Zone Authority (IFZA) is a popular choice for company formation in the UAE. IFZA offers the UAE’s most affordable general trading company license, as well as licenses for consulting, service, commercial trade, industrial, and holding permits. The free zone authorities are helpful and maintain complete transparency in the process. The company registration process with IFZA is quick and permits are typically issued within 2-3 working days, making it an attractive option for entrepreneurs looking to establish their businesses quickly.
IFZA Free Zone in Dubai offers a wide range of business licenses, cost-effective business setup, 100% foreign ownership, and full profit repatriation. This unique ecosystem also grants access to world-class infrastructure and facilities, corporate training, health insurance coverage, corporate banking assistance, office design, commercial real estate, and more.
If you want to set up a business in a Free Zone like IFZA in Dubai, it’s important to work with a registered agent. Here at Virtue, our expert team is ready to assist you both during and after your business setup in Dubai. We will help you navigate the available business packages so you can select the most cost-effective option.
Advantages of a IFZA licence
1.
Conveniently located in Dubai, UAE
2.
FZCOs or branch offices can be registered to obtain business licenses
3.
Single IFZA License allows for professional, commercial, and industrial operations
4.
Competitive General Trading License available
5.
Remote registration is available; no need for business owners to be physically present during the incorporation
6.
No paid-up share capital required
7.
No requirement for a physical office
8.
No need for a yearly audit report
9.
Holding companies can be formed
10.
Owners and employees can apply for a two-year UAE residency visa
11.
Minimal paperwork is required; only a passport copy needed
12.
No guarantee deposit is needed for an employment visa
IFZA LICENSE TYPES
IFZA (International Free Zone Authority) freezone company formation offers a diverse range of licenses, providing businesses with flexibility and options to suit their specific needs. These licenses cater to various industries and activities, allowing entrepreneurs to choose the most suitable license for their business operations within the free zone. The availability of different license types ensures that companies in IFZA can engage in a wide array of business activities, fostering a dynamic and thriving business environment within the free zone.
Professional License: Designed for consultancy and service-oriented businesses.
Commercial License: Geared towards companies involved in import, export, storage, and distribution.
Industrial License: Granted for the import of raw materials, as well as the manufacturing and processing of specific goods.
IFZA allows businesses to amalgamate up to seven activities under a single license, irrespective of the license types involved.
Crucially, IFZA expedites the licensing process, ensuring that licenses are issued within four days and company registration is swift. Since its inception, IFZA has tailored business setup packages to meet the diverse needs of entrepreneurs globally. Investors benefit from the convenience of obtaining licenses and registering companies without the necessity of traveling to the United Arab Emirates.
IFZA freezone company formation facilitates the following types of companies:
Limited Liability Company (LLC): In this legal structure, the company's liabilities are distinct from those of its shareholders, and shareholder liability is limited to their investment in the company. Assets are acquired in the company's name, not the shareholder's.
Branch: Existing companies have the option to establish a branch in IFZA, provided the branch and the parent company engage in the same activities. The branch is treated as unified with the parent company concerning profits, losses, returns, expenses, debts, and liabilities.
Both LLCs and branches established in IFZA are denoted by the term ‘FZCO'
Features of an IFZA Free Zone company setup
Businesses registered in the IFZA Dubai Free Zone have access to a wide range of facilities, including residential apartments, offices, retail outlets, hotels, and warehouses. Many license options are also available to serve ventures of all sizes — from small local companies to large international conglomerates. These include:
- Consultancy licenses
- Trading licenses
- Service licenses
- Holding licenses
- Industrial licenses
- General trading licenses
In addition, when you register your business in the IFZA Free Zone
- Benefit from a quick and hassle-free company setup process within the Dubai free zone.
- Enjoy special discounts on 3-year IFZA licenses.
- Choose from customizable office setups (including executive offices and flexi desks) to suit your needs. A physical office isn’t mandatory.
- Manage your business remotely without needing to be physically present in Dubai.
- Enjoy exemption from income and corporate taxes.
- Incorporate holding companies within the IFZA Free Zone for additional flexibility.
- Repatriate your company’s capital and profits freely without limitations.
Additional perks:
- The IFZA Free Zone caters to a broad spectrum of business activities, including trading, services, and consultancy.
- It offers 2-year visas for both owners and employees, streamlining your staffing process.
- You can set up your company with only a copy of your passport, eliminating unnecessary paperwork.
- There’s no requirement to provide proof of share capital or face restrictions on foreign currencies.
- There’s no need for an employee guarantee deposit, further reducing your initial investment.
Step-by-step company setup process in IFZA
Here are the general steps involved when registering a business in the IFZA Free Zone in Dubai:
- Step 1: Pick an appropriate business activity and reserve your company’s trade name.
- Step 2: Choose an appropriate Business License Package and Visa Quota relevant to your business setup.
- Step 3: Submit the necessary documents for review and pay the required fees.
- Step 4: Secure your company license and apply for your residence visa.
- Step 5: Open a corporate bank account and secure other clearances, such as Customs Registration.
Note that you may need to fulfil additional steps depending on the nature of your business. If you need help, schedule a call with our seasoned business setup consultants for a quote. We can also provide information on visas and license costs.
