Established in 2018 in Fujairah, International Free Zone Authority (IFZA)has achieved significant success as a low-cost corporate registry offering fast and flexible company formation solutions in a variety of business sectors.
In August 2020, the free zone migrated its operations to Dubai and partnered with the Dubai Silicon Oasis where it continues to provide the same great value and flexibility whilst offering investors the benefit of Dubai’s strategic location, world class infrastructure and thriving business community.
There are very few procedures and set up requirements for incorporation within IFZA which makes it an easy and affordable way for companies to access the UAE market with minimal administrative and regulatory burden.
What are the benefits of setting up a business in IFZA?
As with all free zones in the UAE, IFZA offers:
- 100% business ownership
- Full repatriation of profits to country of origin
- 0% corporate and income tax
Full exemption from import and export duties
As well as the above, IFZA stands out for the ease with which it allows investors to set up and how cost-effective it is when compared with other free zones in Dubai. Business licenses are issued in approximately 2 working days and the company setup costs start from as little as AED 12,900. The free zone is also located within 15 minutes of Dubai International Airport and 40 minutes of Jebel Ali Seaport, which makes it an ideal option for businesses with an international presence who want to access the growing markets of Africa, Asia and the Middle East.
Other key benefits include:
- Access to a knowledgeable, multinational team
- The freedom to combine professional, commercial and industrial activities under one license
- No physical presence required of the business owner during the incorporation process
- No share capital requirement
- No NOC requirement from current visa sponsor
- No requirement for physical office space
- Up to 3-year residence visa for company owner and employees
- Facility for the incorporation of holding companies and LLCs
- Easy access to neighbouring markets via air land and sea
What business licenses does IFZA offer?
There are over 2000 business activities permitted in IFZA all of which can be categorized into 6 types of business licenses:
- Consultancy License
- Service License
- Trading License
- General Trading License
- Industrial License
- Holding License
What facilities does IFZA offer?
Businesses in IFZA benefit from a number of facilities to support your business requirements, from modern office and warehouse facilities, tailored to individual needs, to access to five-star hotels in Dubai at discounted rates for conferences, networking or other corporate events.
Dubai Silicon Oasis also offers a wide range of residential options including upscale villas, apartments, and townhouses which provide a variety of living spaces for people to enjoy the unique lifestyle that Dubai Silicon Oasis and Dubai offers.
What is the process for setting up a company?
- Select the appropriate company structure
- Initial consultation and submission of proposal
- Submit all required documents
- Issuance of 2 e-legal forms, to be signed in advance of issuance of incorporation documents
- Payment of licensing fees
- Issuance of soft copy of license by email (the original is available for collection upon request)
The IFZA Incorporation Process is very straightforward and identical for both individual and corporate shareholders with the only difference being the supporting documents that may be required.
What are the required documents?
- License Application Form (including Ultimate Beneficial Ownership information)
- Passport Copy
- Digital Passport Photo
- Emirates ID and Visa copy for UAE residents
How can Global Link help?
Global Link has over 16 years’ experience working with local and global businesses, providing bespoke consultancy services for company incorporation in Dubai and the wider UAE.
We can advise you on setting up a company in IFZA and provide support through the incorporation process and beyond, liaising with all relevant parties on your behalf to ensure a swift and seamless setup.
If you need advice on holding companies or for any other company incorporation, visa or PRO service, please get in touch with us on +971 4 553 9901 or email us at [email protected] and we will be happy to assist you.