Business Setup in IFZA Free Zone

Business Setup in IFZA Free Zone

What is an IFZA?

The International Free Zone Authority (IFZA) has gained popularity since its launch in 2018 as a preferred option for establishing a free zone company in the United Arab Emirates. For its effective international service standards and affordable solutions, the IFZA stands out among free zones. Continue reading to learn more about the reasons why you should consider a Business setup in the IFZA Free Zone for business owners and entrepreneurs. 

Originally based in the Emirate of Fujairah, the International Free Zone Authority (IFZA) relocated to Dubai for a more convenient location. The ultra-modern free zone is thriving with more company formations than it has ever experienced. It is now located in Silicon Oasis, also known as IFZA Dubai Silicon Oasis. 

The proximity of two airports and a shipping port to the IFZA free zone is an appealing feature for any investor looking to establish a business in the UAE as location is essential for any free zone. 

Reasons to Choose Business Setup in IFZA Free Zone 

One of the best things about forming a company in the IFZA is that it provides a variety of packages to business owners who want to advance in their careers and put them on the right track. The only free zone in the UAE that grants “lifetime visas” to investors who establish a business is IFZA. 

Furthermore, the jurisdiction is strategically situated close to a number of important markets. The benefits of establishing a business here also vastly outweigh the drawbacks of forming an IFZA company. The laws and rules that apply to businesses founded on the mainland do not apply to the jurisdiction. 

Advantages of IFZA company setup

1. Low-Cost Business Establishment 

Cost is one of the main issues when establishing a free zone business in the UAE. This is one area in which IFZA excels. Since its establishment, IFZA has offered a number of extremely alluring company formation packages at prices that are frequently lower than those of other UAE free zones. 

2. Annual Renewal Fee 

Free zone Company Licenses must be renewed yearly, which could increase the cost of running your business. Fortunately, IFZA’s annual renewal fees are reasonably priced and are comparable to the low costs associated with company formation. Owners profit from affordable free zone company incorporation and ongoing renewal costs. 

3. Quick Procedure for Company Incorporation 

The ease with which an IFZA-free zone company can be formed is one of its main advantages. It is simpler for businesses because there is no requirement for a physical location when establishing an IFZA-free zone company.

Additionally, IFZA provides a more manageable approval scheme in comparison to other authorities, hastening and improving the convenience of the company incorporation process. 

4. Packages for Limited Liability Companies 

The Limited Liability Company (LLC) structure is one of the most popular choices for investors forming a company in the United Arab Emirates. With this type of corporate structure, the company can function independently of its owners and shareholders.

Additionally, this restricts your personal financial liability and provides safety if something goes wrong in the future. Investors are not always given an LLC structure by free zones. The IFZA Free zone, on the other hand, does, making it more alluring to companies seeking to operate in this manner. 

5. 1000+ Commercial Activities 

More than 1,000 possible business activities are covered by the six different license categories offered by the IFZA Free zone. Additionally, IFZA is one of the few free zones that permits investors to combine trading, consulting, and service activities under a single license (provided they are in a related business field). Other free zones impose costs and may restrict one’s business options by requiring investors to hold separate consulting and trading licenses. 

Additionally, visa allocations of up to six visas are available for each type of business license. This offers more flexibility, which may lead to additional savings. 

6. Global Connectivity 

The free zones in the UAE give businesses unlimited trading opportunities with both international and local markets, enabling them to broaden their market reach and develop their operations. 

7. Quickly open a corporate bank account 

 The simplicity with which a bank account can be opened is yet another major advantage of IFZA Company Incorporation. A list of banks where business owners can quickly open bank accounts is provided by IFZA. 

Why choose IFZA?

One of the main investment hubs in the UAE is IFZA, also known as the International Free Zone Authority. Over time, IFZA has developed into a strong platform with a large global network of more than 800 partners.

The free zone has created a community in which SMEs are given the chance to join a huge platform. This platform is designed to support the growth and success of both local and international businesses in a setting that values innovation and development highly. The area provides a variety of amenities, including office space, apartments, and warehouses. 

Characteristics of Company Setup in IFZA Free Zone  

Because of its distinctive advantages and the opportunities, it offers investors, IFZA is one of the few free zones in the UAE that stands out. These consist of: 

  • The investor is not required to provide an annual audit report. 
  • No requirement for paid-up share capital. 
  • For owners and employees, a three-year visa is available. 
  • No employee guarantee deposit is necessary for the free zone. 
  • Permission to work from home. 
  • Investors are not required to be present in person when a company is formed. 
  • There is no need for a NOC from the current visa sponsor. 

Licenses offered in IFZA Dubai

For companies established in the IFZA (International Free Zone Authority), the following licenses are available: 

1. Consulting License  

Companies that offer knowledgeable and competent consulting services to professionals are granted this license. 

2. Service License 

Production, replication, transformation, and distribution of services are all permitted with a service license. 

3. Trading License 

The trade of the items listed on the trade license is permitted by this license. 

4. General Trading License 

The licensee is able to trade a wider variety of goods thanks to this type of license. 

5. Business License 

Importing raw materials, producing, replicating, manufacturing, packaging, and exporting are all permitted with an industrial license. 

6. Holding License 

This license permits the possession of separate property and/or stock in other businesses. 

IFZA business setup step-by-step process

  • Determine the Nature of Your Business Activity.
  • Determine Your Company’s Legal Structure.
  • Register the Trade Name.
  • Select Business Space and Location.
  • Obtaining the Initial Approval.
  • Registration and Payment of Fees.

Get Your IFZA License With Shuraa

Numerous benefits are provided by IFZA, including reduced overhead expenses, low tariff rates, and quick start-up times. The IFZA has amenities like offices, warehouses, hotels, shops & retail, and residential apartments.

For logistics and trading-related businesses, this free zone presents a significant commercial opportunity in a progressive, environmentally friendly, and appealing setting. You can successfully balance working, doing business, and living. 

IFZA uses business and technology to benefit organizations. Before starting a business, it is always advisable to get professional advice from consultants. Shuraa Business Setup handles the administrative tasks and support services necessary for your company’s setup. Our knowledgeable team will carefully consider your needs and work with you to conveniently accomplish your goal.