company formation in IFZA

How Do I Start a Business in IFZA Free Zone Dubai?

The UAE is home to globally renowned attractions and businesses. As a result of well-paying jobs, millions of expats have made a comfortable life for themselves in the UAE. Furthermore, leading business organisations from every industry sector operate here.

As per reports, 5,000+ British companies operate in the UAE. These include companies like BP, Rolls Royce, Mott McDonald, SERCO, and Standard Chartered. Furthermore, UK exports to the UAE totalled £8.0 billion in the year ending September 2021.  

Furthermore, it has some of the greatest job prospects and the best international connectivity. Besides this, the UAE is also popular for its free zones. And so, if you are a UK investor or an entrepreneur who wishes to set up a company in IFZA Dubai, the time is right!  

What Is IFZA Dubai? 

One of the latest additions to the list of free zones in the UAE, IFZA is located within Dubai Silicon Oasis. As one of the most promising and fastest developing free zones in the UAE, it has swiftly earned an exceptional reputation and the respect of the business community.   

IFZA Dubai (International Free Zone Authority) offers a number of licensing packages popular with UAE and international business owners. As a result, it is one of the most cost-effective free zones in the UAE Furthermore, it is also one of the fastest in terms of incorporating a business.

The process of company formation in IFZA is seamless from start to end. Moreover, you can complete the IFZA free zone company setup remotely, irrespective of the shareholder’s location.  

Given the benefits, company formation in IFZA will be lucrative for UK investors and entrepreneurs.  

How To Start a Company in IFZA Dubai? 

IFZA free zone company setup is only a few clicks away. Also, company formation in IFZA follows a streamlined online process. Following are the steps you must follow to set up a business in IFZA Dubai:  

  1. First, go to the website. 
  2. Next, select a package from the list on the page. Shuraa advisors can help you pick the best option for your needs. 
  3. Submit all of the relevant documentation from all of the company’s shareholders. 
  4. And that is all. If your documents are valid and legitimate, you will have a business licence in IFZA within ten working days.  

What Are the Documents You Require? 

Following are the documents you will require for company formation in IFZA:  

  • Passport copies of shareholders.   
  • Visa page or Entry stamp.   
  • Passport size Photograph.   

To know more details about other documents required, reach out to our expert business consultants at Shuraa UK Branch.  

What Is the Cost of a Licence in IFZA Dubai? 

IFZA licence cost in Dubai includes the general commerce licence, service licence, and consultancy licence costs. The following is a description of all the elements that go into determining the cost of a business licence in IFZA: 

  • The cost of a one-year IFZA company licence package with one investor visa can range from AED 13,900 to AED 29,900. 
  • A three-year IFZA business licence package ranges from AED 41,700 to AED 65,000. 
  • The 5-year IFZA free zone licence ranges from AED 69,500 to AED 1000,30. 

What Are the Types of Licences Offered by IFZA Dubai? 

Commercial Licence 

Importing, exporting, storing, and distributing items are all permitted under the commercial licence. As a result, the commercial licence is ideal for companies who wish to become suppliers in Dubai or export goods from the country. 

Professional Licence  

A professional licence allows business activities commonly pursued by service providers. The Department of Economic Activities or the DED issues this licence, and businesses such as healthcare institutions, care service providers, security services providers, etc., need to apply for this licence.  

Industrial Licence 

As the name suggests, an industrial licence is for a business that needs to perform activities in order to manufacture goods. These activities include importing raw materials, producing, and packaging the final goods. Lastly, it also includes exporting and distributing the final goods to others. 

General Trading Licence 

Businesses following the B2C, B2B, and C2B models are all eligible to apply for the general trading licence. It is one of the most flexible licences that allow a wide range of business activities like service and trading.  

Consultancy Licence 

A consultancy licence necessitates prior expertise and experience in the field you want to offer consultancy to others. For instance, if you wish to provide managerial consultancy, you must have prior experience in the management field.  

Service Licence   

The service licence permits a company to engage in commercial operations such as product manufacture and distribution. For instance, if you wish to provide transportation services to manufacturers or producers, you first need to get a service licence. 

What Is the Benefit of Setting Up a Company in IFZA Dubai? 

The benefits of company formation in IFZA are endless. Following are some of them:  

  • You do not have to be present in Dubai to open your company.  
  • You can incorporate your firm in a day with assistance from company setup consultants.  
  • IFZA Dubai offers feasible and affordable free zone licences.  
  • It allows you to open a Limited Liability Company. This lets you protect your personal assets in case of  
  • bankruptcy. 
  • Opening bank accounts is easy and seamless.  
  • There are no minimum share capital requirements for starting a company.  
  • You do not need a physical office space 
  • Corporate and personal incomes are 100% exempted from taxes.  
  • Repatriation of capital and profits is 100%.  
  • Substantial discounts on a variety of non-visa and visa packages. 
  • Allows you to do business with firms from the free zone and the mainland. It also allows you to do business outside of the United Arab Emirates. 
  • Increase the number of commercial and trading services available to your organisation. 
  • On a single licence, you can do up to six activities. 
  • A job visa does not need a guarantee deposit. 

Company Formation in IFZA With Shuraa 

IFZA offers endless opportunities for company formation. Furthermore, the process for IFZA free zone company setup is simple. It does not require you to travel, implying you can apply for the licence from the comfort of your home or existing office space. The IFZA licence cost is minimal but with lucrative returns.  

However, to avoid any roadblocks in the company formation process, it is always advisable to get assistance from experts who know the formation process, in and out. Advisors at Shuraa UK Branch will help you set up a company in IFZA Dubai effortlessly. We will take care of all your documentation, ensuring that everything the officials need is in place. All you need to do is connect with us, tell us your requirements, and we will look after the rest!