The IFZA Free Zone is one of the most popular free zones in the UAE. What does IFZA stand for? It is International Free Zone Authority situated in the very dynamic part of Dubai and offers a comprehensive range of facilities, tailored to cater to the multifaceted needs of modern businesses. It operates under the regulation of Dubai Silicon Oasis Authority. The simplicity in setup, coupled with the robust ecosystem of support that IFZA provides, culminates in an environment ripe for innovation and growth.
What are the benefits of IFZA Freezone?
- 100 % foreign ownership;
- No minimum share capital requirements, share capital does not have to be paid up;
- The company can be registered remotely;
- No currency restrictions;
- Modern infrastructure with flexi-desk, dedicated offices and meeting rooms;
- Flexi-desk is free for 1 year, covers up to 3 visa quotas;
- No personal income tax;
- Commercial and professional activities can be mixed up on 1 license free of charge;
- Visa quota upgrade is free of charge;
- Strategic partnerships with Commercial Bank of Dubai and WIO bank;
- Discounts on multi-year licenses.
What Type of Company is IFZA for?
- FZCO – Free Zone Company, a business with limited liability and 1 or more shareholders;
- Branch of a local or a foreign company.
License Types in IFZA
- Consultancy License: to provide professional and expert consulting services.
- Service License: to get engaged in production, transformation, reproduction, and service distribution.
- Trading License: to trade specific items that are clearly mentioned on the trade license issued.
- General Trading License: to trade different items.
- Industrial License: to import raw materials, deal with production, re-production, packaging and manufacture, exports.
- Holding License: to hold standalone assets and/or shares in various other companies.
IFZA Regulations and Company Registration Process
Required documents and incorporation steps:
- The client to provide:
– Company name (3 options);
– Corporate structure (directors, shareholders);
– Activities – some activities require the approval of the relevant regulatory authority – for example, health related activities will require the approval of the DHA (Dubai Health Authority), education activities have to be approved by the KHDA (Knowledge and Human Development Authority.
- Required documents (individual shareholder):
– Passport Copy (valid for min 6 months);
– Copy of the passport page with the entry stamp;
– UAE Residence Visa and Emirates ID copies (if applicable);
– Scan of a 3.5 x 4.5 white background passport type photo;
– Personal details: telephone number, email address, residential; address, country of residence, parent’s names, marital status, religion.For the corporate shareholder a set of the company’s registration documents to be provided (notarized and attested).
- The client will electronically sign the new company’s resolution.
- New IFZA company registration documents:
– Business License (renewed annually);
– Certificate of Incorporation;
– Memorandum of Association;
– Office Rental Agreement (valid for 1 year);
- Establishment Card issuance (1 working day);
- Visa applications (5-7 working days).
If you have any additional questions, e.g.:
- How do I start a IFZA company?
- Can I register a company in IFZA myself?
- How does IFZA work?
our Smart Advisors team will be happy to help you.