IFZA company formation in Dubai

IFZA company formation in Dubai

Dubai’s reputation as a global business hub is undeniable. One of the key factors that make Dubai so appealing to business owners is the concept of Free Zones. These specialized economic zones offer foreign investors 100% ownership of their businesses, tax exemptions, and other incentives to set up their companies in Dubai. 

Among the many Free Zone Authorities in Dubai, the International Free Zone Authority (IFZA) stands out as a leading option for company formation. IFZA is known for its streamlined company formation process, competitive pricing, and excellent business support services. 

The UK, in particular, has seen a significant surge in companies setting up shop in Dubai. Over 5,000 UK firms have taken advantage of the emirate’s business-friendly environment, with a large portion choosing the Free Zone model. 

So, if you’re too considering moving or establishing your UK business to Dubai’s freezones like IFZA or concerned about IFZA business setup step-by-step process, here’s how you can do it. 

International Free Zone Authority (IFZA) in Dubai 

The International Free Zone Authority (IFZA) is a leading free zone community situated in 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 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 IFZA Free Zone Company Formation in Dubai 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, IFZA Free Zone Company Formation in Dubai will be lucrative for UK investors and entrepreneurs. 

What Are the Types of Licenses Offered by IFZA Dubai?  

The IFZA in Dubai offers various types of licenses to accommodate different business activities and structures. Here are the main types of licenses offered by IFZA: 

1. Commercial License

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

2. Professional License   

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

3. Industrial License  

As the name suggests, an industrial license 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.  

4. General Trading License  

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

5. Consultancy License

A consultancy license 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.   

6. Service License  

The service license 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 license. 

IFZA Business Setup Step-By-Step Process 

Setting up a company in the International Free Zone Authority (IFZA) in Dubai involves several steps. 

1. Choose your Business Activity 

Determine the type of business activity you intend to conduct within IFZA. Ensure that your chosen activity complies with IFZA regulations. 

2. Select Company Type 

Decide on the type of company structure you want to establish, such as Free Zone Limited Liability Company (FZ-LLC), Branch Office, Freelancer Permit, etc. Each type has its own requirements and benefits. 

3. Choose a Company Name 

Select a unique and appropriate name for your company that complies with IFZA’s naming conventions. 

4. Gather Required Documents 

Prepare the necessary documentation for company registration, which typically includes: 

  • Passport copies of shareholders and directors 
  • Proof of address for shareholders and directors 
  • Emirates ID and visa copies for UAE residents (if applicable) 
  • No Objection Certificate (NOC) from the current sponsor (if applicable). 
  • Other related approvals depending on your specific business activity 

5. Submit Your Application 

Once you have everything prepared, submit your application electronically through the IFZA website or with the assistance of a reputed business setup consultant in Dubai such as Shuraa. There might be associated fees for application processing. 

6. Await Approval & Obtain License 

IFZA will review your application and the documents submitted. If everything meets the requirements, you’ll receive your official business license and any additional certificates required for your chosen activity. 

7. Office Space and Visa Processing 

Once you receive the approval, you can proceed with leasing office space within IFZA or opt for a virtual office solution.  

Also, apply for visas for shareholders, directors, and employees (if applicable) through IFZA or the General Directorate of Residency and Foreigners Affairs (GDRFA). 

Consider seeking guidance from an IFZA business setup consultant at Shuraa Business Setup. We can streamline the process, ensure you meet all requirements, and potentially save you time and effort. 

What is the Cost of Starting a Company in the Dubai IFZA Free Zone?  

The license cost for establishing a company in IFZA generally starts from AED 12,900 but can vary significantly depending on certain factors, including: 

  • License type 
  • Company structure 
  • Visa fees 
  • Duration of license 
  • Additional services 

Remember, these are estimates, and it’s always best to consult the business setup expert in Dubai 

Benefits of Setting Up a Company in IFZA Dubai 

Here’s why IFZA can be particularly appealing to UK investors: 

1. Simplified Business Setup 

IFZA offers a streamlined incorporation process compared to the Dubai mainland. This can be particularly attractive to UK investors seeking to avoid complex bureaucratic hurdles. 

2. 100% Foreign Ownership 

Unlike some other regions, IFZA allows UK investors to have complete control over their businesses. This eliminates the need for a local Emirati partner, which can simplify ownership structure and profit repatriation. 

3. 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.  

4. Over 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.  

5. 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. 

6. Reputational Advantages 

A Dubai address through IFZA can enhance a UK company’s reputation and credibility, particularly when targeting investors or clients in the Middle East and neighbouring regions. 

Get your IFZA Free Zone License 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 license from the comfort of your home or existing office space. The IFZA license 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 the Shuraa UK 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! 

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