Many companies have trusted IFZA as their company jurisdiction location over time. The International Free Zone Authority is well-known for the many benefits it provides. It not only has a strategic location, but it also has a lot of room for expansion. Situated in Fujairah, the IFZA offers world-class facilities to investors. Hence, IFZA company formation is the top choice for people seeking to invest in the UAE.
IFZA Dubai permits a wide range of commercial activities for all businesses. Furthermore, it has earned a reputation as Dubai’s most affordable company formation zone. Most importantly, IFZA company formation allows you to add many activities to a single license.
Do you want to start a business in IFZA Dubai but are unsure about the benefits? Read the entire blog to learn everything about the company set up in IFZA.
Benefits of IFZA Company Formation
The partnership between IFZA and Dubai Silicon Oasis Authority gives investors unrivaled flexibility. This agreement permits both new and current businesses to operate in the DSO. Hence, providing the companies more commercial flexibility to conduct their operations. Besides giving an innovation-driven ecosystem, IFZA company formation offers the below benefits.
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Location
The International Financial Zone Authority (IFZA) is ideally located in Dubai. Thus, it provides smooth access to the global markets.
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Ownership
Unlike other countries, you have a 100% ownership right of your company in IFZA.
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Corporate Taxes
As opposed to the mainland, IFZA is exempt from all kinds of customs duties.
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Costs
Setting up a company in IFZA enables you to avail the most cost-effective business setup choices. Moreover, starting a business does not require any paid-up share capital.
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Visa Requirements
IFZA company formation offers a variety of non-visa as well as visa packages. In fact, these visa packages are available at great discounts.
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Taxes
Corporate and income taxes are excluded from foreign investors.
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Connectivity
IFZA provides excellent global connectivity to business owners. For instance, it is only 20 minutes from Dubai International Airport. Similarly, all free zone business and administrative services are accessible from here.
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License
Obtaining an IFZA trade license is a simple and painless process. In fact, the business owners need not be necessarily present for the process.
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Business Activities
A single IFZA trade license covers professional, commercial, and industrial activity. Moreover, a general trading license is available at a competitive price here.
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Profit Repatriation
In addition to full ownership, it allows you to repatriate 100% of your capital and profits. In fact, you can repatriate money without any restrictions.
Types of Licenses Issued by IFZA
The formation of a company in IFZA is swift as well as inexpensive. As a result, it allows you to realize the benefits of your investment quickly. Here are the types of IFZA trade license you can opt for:
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Professional License
A professional license is available to companies seeking to provide professional consulting services. Subsequently, under this license, you can offer technical, lifestyle, and other relevant services.
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Branch
Foreign-incorporated businesses can also open a branch at the IFZA Dubai. Yet, the proposed branch’s activities must be in line with that of the parent company.
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Commercial License
A commercial license allows you to begin importing, exporting, storing, and distributing goods.
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Industrial License
An industrial licence enables businesses to import raw materials in their area. As a result, you can only make and sell certain commodities if you have an industrial right.
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General Trading License
A general trading license allows you to trade, import, and export a wide range of products. It covers all trading activities, even if they are in different sectors.
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Service License
Getting a service license enables you to produce, transform, and distribute services.
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Consultancy License
If you are looking forward to providing consultancy services in Dubai, you must opt for a consultancy license.
IFZA License Costs
IFZA Dubai is an investor’s preferred choice for establishing a free zone company. In addition to the low-cost company setup packages, IFZA offers world-class amenities as well.
The IFZA trade license fees start at 11,500 AED for zero-visa consultancy and service licenses.
Additionally, you can save money on capital needs and annual audits by forming a company here.
IFZA Company Formation Process
Incorporating a Free Zone business at IFZA is a simple process for locals as well as expats. Besides, registering a corporation in an IFZA free zone is as simple as clicking a few buttons. Simply go to our official website and choose an appropriate plan based on your business needs. To make things even easier for you, we’ve included a step-by-step guide to forming a company in IFZA below:
Step 1
When you contact Shuraa Consultants, our managers will speak with you over the phone, via email or in person. The experts will determine your needs over a consultation session. Once we identify your needs, we will present a proposal that includes the following information:
- Type of License
- Type of Business Activities
- Visa Package
- Office Solutions
Step 2
To proceed further, Shuraa experts will ask you for the below documents:
- Application for a License including Ultimate Beneficial Ownership information
- Scanned passport copy of all participating stockholders.
- Scanned digital passport photo
- For UAE citizens, a copy of their Emirates ID as well as visa.
Step 3
Next, we will register your shareholders’ paperwork on the registration website. Then, the IFZA Authority will issue two E-legal forms. You must sign both before the issuance of incorporation paperwork is approved.
Finally, you will receive the IFZA trade license after completing all the above steps. The trade license is sent through email within ten working days. Meanwhile, the original permit is available for collection from the IFZA office.
Step 4
After the incorporation, our team will help you anytime you need the below.
- Visa Approval Procedures
- Office Providers
- License Upgrades as well as Downgrades
- License Amendments
- Renewals of Licenses
Read Also: What Are The Steps for Setting Up a Company in UAE?
Ready to Embark on your IFZA journey?
If you want to step into a world of benefits, IFZA company formation is the right choice for you. Not only do you get world-class infrastructure, but also a range of other benefits.
Shuraa Consultants is your go-to place to start your business and establish a presence in the UAE. Besides, experts at Shuraa will help you with everything you need to speed up your business journey.
Contact our experts at +971 44081900 or WhatsApp us at +971 507775554 to get started. You can also email us at info@shuraa.com for a fast and hassle-free company formation.
