Business Setup IFZA Free Zone

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Business Setup in IFZA Free Zone

International Free Zone Authority Dubai is commonly abbreviated as IFZA was established in 2018 in Fujairah but was shifted to Dubai Silicon Oasis. The IFZA is located nearby the Dubai International City and it is less than ten minutes drive from Dubai International Airport. The location and the ease of doing business make it the most lucrative option to invest in the UAE. Unlike other free zones, it is operated and managed by Dubai Silicon Oasis. The zone attracts the attention of investors because of the various packages to business setup in IFZA free zone and other lucrative facilities for the small and medium businesses.

Benefits of Business Setup in IFZA Free Zone

The benefits of setting up the business in the IFZA free zone are countless because its name suggests that it is for the international community. The authority has made it possible to provide all the facilities that can make a relation of trust and harmony between the IFZA and the investors.

Steps of Business Setup in IFZA

Launch the Application

Launch the application through the online portal along with all the necessary documents.

Documents Verification
The authorities verifies the documents. They do check if the documents are real or fake.
Approval of Application
After the verification of the documents a decision is made. If the documents are clean and true then the answer is in approval and if some documents are missing then they require the documents from you.
Bank Account Opening

Open up the bank account in any bank in the UAE that is registered with the free zone. 

Apply Visa

To enter the country you must apply for a visa and hold your business properly. 

Documents Required to Setup Business in IFZA Free Zone

The documents that are required for an individual shareholder are as under:

  • Copy of Passport (for every shareholder)
  • Emirates ID (If already residing in UAE)
  • Visa Copy (If on a visit visa)

The Documents required for a corporate shareholder are as under:

  • Notarized and attested copy of board resolution
  • Notarized copy of article of association
  • Notarized copy of memorandum
  • Notarized copy of trade license
  • Notarized copy of certificate of incorporation

License Types in IFZA

Professional

The businesses who want to offer the professional services to the people require this type of license. These are usually the companies that offer services such as management services, chartered accountants, IT consultancy, hr services and other like services.

Commercial

The companies that deal in import, export and re-export of the goods or items fall under this license type. The companies that offer the distribution of products also need to get this type of license.

Industrial

There are certain investors who want to establish industries in Dubai. For such investors the industrial license is a great option. It allows the import of raw material, manufacturing and processing of certain goods and items.

Types of Companies in IFZA Free Zone

The IFZA free zone offers the following types of company incorporation. 

Limited Liability Company (LLC)

The limited liability company is a legal form of the company. It means that all the liabilities of the company are its own liability not the liability of its shareholders. The shareholders are only liable to pay the extent of the liability as much as they are shared in the capital. All the assets are purchased in the name of the company, not the shareholders.

Branch of a Foreign/ Local Company

An existing company available in the UAE or outside the borders of the country can establish the branch of the company. This allows the companies to launch their operations from the UAE. Furthermore, for the purpose of profits, loans, debts and other business issues are dealt by the parent company.

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