Everything ou Need to Know About Company License in IFZA
Everything You Need To Know About Company License in IFZA
The International Free Zone Authority (IFZA) is quickly establishing itself as a major investment center in the United Arab Emirates. The IFZA, in collaboration with the Dubai Silicon Oasis Authority, provides entrepreneurs with a highly personalized company licence and company formation package. IFZA-Dubai is an investor’s preferred choice for establishing a free zone business because of its low-cost business formation packages, worldwide service standards, and world-class amenities.
The IFZA in Dubai offers excellent Company License Packages to suit a wide range of investment needs. The cost of establishing a company in IFZA begins at AED 13,900 for a Zero Visa Quota. Entrepreneurs may start up a firm in IFZA for AED 43,470 for a three-year business license. When the overall cost of the IFZA Company Setup is considered, it is the most cost-effective alternative in Dubai.
Foreign investors are drawn to IFZA Dubai because of the 100 percent foreign ownership, 100 percent profit repatriation, world-class infrastructural facilities, and other investment perks.
Types of License available in IFZA
- Consultancy License– Professionals can get a Consultancy License by offering skilled and professional consulting services.
- Service license- A service license allows you to create, re-create, alter, and distribute services.
- Trading License – A trading license allows the licensee to trade the products listed on the License.
- General Trading License– The General Trading License allows the holder to trade a broader range of goods.
- Industrial License – permits for the importation of raw materials, manufacturing, re-production, manufacturing, packaging, and exportation of goods.
- Holding License – This License permits you to own freestanding assets and/or stock in other businesses.
Features of IFZA Freezone
- 100% ownership of commercial enterprises
- 100% repatriation of capital and profit
- 100% import and export tax exemptions
- No personal income tax
- There is no need to submit an Annual Audit for a Freezone company.
- Three years residence visa is provided for owners and employees, and no Employee guarantee deposit is required. Passport Copy is the only document needed.
- The physical presence of Company Owners is not required.
- No physical office space is required.
- Manage your company from anywhere; physical presence in UAE isn’t required.
Steps for company set up in IFZA
Incorporating a Free Zone company at IFZA Dubai is a simple process.
Individual and corporate shareholders go through the same IFZA incorporation process, although the supporting documentation differs.
Step 1: Client Engagement Managers will talk with you over the phone, by email, or in-person to determine the needs of your License. Once these have been identified, we will present a proposal that includes the following information:
a. Type of License
b. Business Activities
c. Visa Package
d. Office Solutions
Step 2: Following documents will be required to proceed:
a. License Application Form (including Ultimate Beneficial Ownership information)
b. Passport Copy
c. Digital Passport Photo
d. Emirates ID and Visa copy for UAE residents
Step 3: The support team will register the shareholders’ documents on the registration portal upon receiving your documents.
Step 4: Once approved, the Authority will issue 2 E-legal forms, to be signed before issuance of incorporation documents.
Step 5: A soft copy of the License is shared via email with the original License available for collection from the office upon request.
Step 6: Once the License is incorporated, we will continue to support and assist you:
a. Visa Processes
b. Office Solutions
c. License Upgrades and Downgrades
d. License Amendments
e. License Renewals
By following a few simple steps, you can open a company in IFZA. It is advised to seek help from professionals when planning for a company setup.
How Radiant Biz helps you
In matters like business setup, people tend to get confused and get in chaos due to several rules and requirements. This is the time when people tend to look for an expert. A lot of chaos can be avoided if guidance is taken from the very beginning. Every venture may have unique requirements like location, customer convenience, logistical feasibility, and banking services.
We at Radiant Biz strive to understand these unique precepts and provide expert and reliable consultation to our clients with updated laws and governing regulations, awareness of their rights, and cost-effective business solutions tailor-made to their business needs and budget.