International Free Zone Authority, often known as IFZA, is one of the most popular free zones in the UAE. Over time, it has, without a doubt, established itself as a leading investment hub in the country.
IFZA takes a high ranking in the list of the most attractive free zones in the UAE. This is because it is not only located in one of the most sought-after destinations in the country but it is also highly cost-efficient. The jurisdiction is strategically located, being only 20 minutes away from Dubai International Airport and Downtown Dubai.
The jurisdiction is regulated by Dubai Silicon Oasis Authority. The free zone also comes with various IFZA free zone packages for entrepreneurs. These packages come with an array of benefits, all while being extremely pocket-friendly. IFZA gives entrepreneurs the opportunity to opt for flexi-desk or office spaces upon setting up a company.
The free zone is also constantly providing opportunities for entrepreneurs to grow and expand. For instance, it has a variety of packages with many benefits. One such example is the package that offered an IFZA lifetime visa to the investor. There are also numerous Ifza visa packages with pocket-friendly prices. Furthermore, IFZA visa costs are one of the most economical in the UAE.
Over time, IFZA has earned the reputation of being the most economical free zone in Dubai. With more plans in the books for the free zone, the possibility of growth and opportunities for entrepreneurs are endless.
The process of setting up your company in Dubai International Free Zone Authority involves the following steps:
The required documents for setting up a company are as follows:
Some of the advantages of business setup in IFZA include the following:
IFZA is one of the few free zones in the UAE that stands out for its unique benefits and the opportunities it provides investors. These include:
As already established, there are various advantages of forming a company in IFZA. Additionally, one of the major advantages is that IFZA allows up to 7 activities under one license. The licenses issued by the jurisdiction are as follows:
IFZA is one of the few free zones in the UAE that allows for activities from different categories to be mixed. It also does not recognise e-commerce as a separate activity. However, one can still sell goods on online platforms with an IFZA general trading license.
IFZA license costs are also highly affordable. The business setup cost in IFZA starts from AED 13,900. These packages range from zero visa packages all the way to 6 visa packages. All business activities permitted in IFZA are taken from the Dubai Department of Economic Development (DED).
IFZA visa costs start from AED 3750. In addition, the free zone is constantly coming up with promotions and with improved pricing to help investors looking to get started with company formation in IFZA.
The renewal process of businesses in IFZA free zone is a highly cost-effective and simple process. In order to complete the process of renewal for your company, you will need to 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.
Similar to renewal, company liquidation also does not need the physical presence of the owner and can be accomplished through an agent. You will be required to pay a government fee to complete the liquidation process. Investors will be required to submit a detailed audit report at the time of license liquidation.
Company liquidation takes about 1 month to be completed and involves the following steps:
To find out more about various options available to set up IFZA company, contact Shuraa — one of the best business setup companies in Dubai. Shuraa helps solve your business-related queries and offers you solutions best suited for your IFZA company formation in the UAE.
To get started on your business journey and find out more, contact our expert consultants at +97144081900 or send a WhatsApp message on +971507775554. You can also drop in an email at firstname.lastname@example.org and get your queries answered in no time.
Yes, you can renew your license remotely using a registered agent with just an authorization letter and renewal fees.
It takes less than a week to get your license to start your business in the IFZA free zone.
No, you have 100 % ownership and do not require to have a local partner to start your company.
It is not possible to transfer your company from one free zone to another. You can, however, set up a branch of your existing company in a different free zone.
If you want to have your company in a different free zone, you will be required to liquidate your company in the current free zone and then open your company in a different free zone.
Yes, it is usually a requirement to have office space to set up a business in the UAE. There are various options and packages that come with choosing the right office for the right amount to suit your company.
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