The International Free Zone Authority (IFZA) in Dubai is one of the focal points for global growth for investors, entrepreneurs, and startup companies. IFZA has developed a range of economically attractive packages with flexible licensing options as part of their dedication to supporting the business community.
IFZA creates an environment that allows new and existing businesses to operate successfully in Dubai. In addition, IFZA makes it easy to get set up in Dubai and to establish a strong business presence in the UAE. If you are starting a consultancy firm, e-commerce company, media business, or if you would like to apply for a general trading license in Dubai, IFZA provides you with an efficient and streamlined route to establish your business presence in the UAE.
This complete guide explains everything you need to know about developing a company through IFZA including benefits (such as costs and business activities), requirements for starting a business in Dubai and different options for visas/immigration. You will also find the complete process of getting set up through IFZA, so you can see how you can establish yourself in the region and build your business.
What Exactly Is IFZA?
IFZA is the International Free Zone Authority and is a fast-emerging free-zone area located within Dubai Silicon Oasis. The establishment has created a fantastic structure for the formation of a business in the UAE, as it is flexible and low-cost; thus, IFZA is becoming more popular with startups, small/medium enterprises and international entrepreneurs.
The reasons why IFZA is so popular include:
- Low-cost setup packages for companies
- A wide range of business activities
- A fast licensing process
- Modern office space options
- A good international reputation and a wide variety of international partners
Whether you are starting a consulting firm, a trading company, or an online company, IFZA offers efficient and effective solutions!
When you decide to incorporate your business with IFZA, there are many benefits that will be given to you as a result of your choice.
There are many different packages available from IFZA that are competitively priced to help new start ups launch their businesses in Dubai.
There are over 2000 different types of activities that you may conduct after your incorporation with IFZA, including commercial, services, industrial, media, technology and consulting.
You will not need to find a local sponsor for your company and thus you will have 100% control of your company and make all the decisions regarding your business.
All companies incorporated with IFZA do not pay corporate tax for some categories of businesses. Therefore there will be no taxes for this type of company.
Incorporating your business through IFZA is a very simple and fast process that requires little to no documentation.
IFZA offers Visa packages that vary from 0 to 6 based on your individual business requirements.
For many licenses issued by IFZA, it is not required for you to have an office location. Therefore, your business may be run remotely unless you want to have a physical office location.
Types of Business Activities Available Within IFZA
IFZA has a broad range of business activities available including:
Consultancy Services
Marketing & Media
E-commerce businesses
IT, Technology & Software Development
Trading (Import/Export)
General Trading
Logistics/Supply Chain
Professional Services
Manufacturing/Industrial Activities (Selected)
Therefore, IFZA is an excellent option for many different types of business sectors and models.
Creation of an International Free Zone Authority (IFZA) Company: Steps To Follow
1. Identify what types of Business Activities Your Company Will Conduct
Select the appropriate Business Type in alignment with your Business Model (Service, Commercial or Trading).
2. Choose the Right License Package for You
Select from either Visa or Non-Visa Packages based upon your specific needs.
3. Create a Unique Name for Your New Company
The Company Name must comply with UAE Naming Guidelines.
4. Submit Required Documents for the Issuance of Your License
Examples include:
Passport copy
Photo
UAE Emirates ID (if applicable)
Details of your Business Activities
5. Issue Your Trade License
When your application has been approved, it will be issued within three to five (3-5) business days.
6. Apply for Employee Visas (if applicable)
You may choose to apply for either an Investor Visa or Employee visas.
7. Open a Bank Account
After obtaining your Trade License, you may establish either a local or International Business Bank Account.
IFZA offers flexible visa quotas such as:
0 visa license
1 visa license
2 visa license
3 visa license
Up to 6 visa license packages
This makes it suitable for solo entrepreneurs as well as larger teams.
Entrepreneurs choose IFZA due to the following reasons:
- Speed of processing
- Ease of documentation
- Worldwide recognition
- Various types of businesses
- Low price of renewal fees
Because of its affordability and flexibility for new entrepreneurs, IFZA is an excellent choice.
In conclusion, creating a company with IFZA is one of the easiest and most affordable ways to establish a business in Dubai. With its investor-friendly policies, various types of business activities, and convenient licensing process, IFZA has become the preferred option for many entrepreneurs around the world.
Regarding freelancers, startup founders, and international investors, IFZA is a simple but effective means of becoming established and growing your business in the UAE.
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