The International Free Zone Authority (IFZA) was formerly located in Fujairah and has now relocated to Dubai. IFZA is a place that you should definitely be aware of. IFZA is a free zone that offers a variety of business-friendly services and opportunities, making it a great choice for entrepreneurs and investors. In this blog post, we'll take a look at what IFZA is, what its benefits are, and how to become a part of it. So if you're looking for an exciting and innovative business center with generous facilities and helpful staff, be sure to check out IFZA!
The International Free Zone Authority (IFZA) was formerly located in Fujairah and has now relocated to Dubai, a rapidly growing business center in the UAE. IFZA is a relatively newly established free zone in the United Arab Emirates, but it has emerged as one of the favorites among businessmen and investors. In collaboration with Dubai Silicon Oasis (DSO), IFZA has become one of the fastest-growing and most popular free zones in the United Arab Emirates.
There is a variety of business activities offered by IFZA, such as service, consultancy, trade, and industry. Even in IFZA, you can get trade and service activity in one single license without any hassle. There are many reasons for the increasing number of shareholders moving towards IFZA for forming the company. With a wide range of offers introduced by IFZA, it become a leading investment hub in UAE. This also helps to grow the UAE economy in a better way.
IFZA also introduced various kinds of facilities to investors/entrepreneurs like residential apartments, offices, warehouses, and retail outlets. The procedures and time frame to form the company at IFZA are very simple and easy. Comparing the cost for company formation with other Dubai free zone, IFZA offers the lowest price. This is a significant reason why IFZA is suitable for small business owners and start-ups to start their businesses at a low cost.
The major factors on why you should choose company formation in IFZA Dubai are mentioned below in detail. Amongst the 40-odd free zones in the UAE, IFZA is one of the most affordable free zones in Dubai. The license fee for a new setup in IFZA can start with an annual fee of AED12,500. This includes only license and virtual office facility. Also, you can have up to 12 visa allocations at IFZA.
IFZA offers more than 1,000 business activities which include all kinds of consultancy, trading, and industrial activity. Also, IFZA offers the license with a combination of service activity and trading activity in one license. In addition to that IFZA also offers to hold license activity which allows conducting business activity regionally and internationally.
The main advantage is that all company and branch setups can be done online or virtually. IFZA accept all kind of digital signatures. For company formation, IFZA accepts only an attested copy of the passport and corporate documentation. The documents should be attested by legal lawyers or solicitors from your country. IFZA does not require any original documents. Also, it is not a requirement for corporate documents to be notarized and attested by the UAE Embassy from your home country. This will save time for the process of company formation.
Every month the IFZA free zone will come up with promotions to attract investors and entrepreneurs. IFZA is the first free zone in UAE that come up with a free visa for a lifetime. A lifetime free visa means the visa fee of AED 3,750/- will be paid by IFZA to the authority on your behalf of you. At present, the visa from the free zone will be for two years only. Also, at the time of the visa renewal, IFZA will pay the visa fee and the investor/entrepreneur can concentrate on the business activity. This will continue each time when your visa is due for renewal and whilst you still have the IFZA company. Right now, some other free zone is also offering this kind of service.
LLC structure in the free zone means the investor or entrepreneur will be liable only up to the capital amount you invested in the company. So, most investors prefer to have an LLC structure in the free zone. Price, speed, digital signatures, shareholder pre-approval options, a wide range of business activities, and most importantly, IFZA has excellent credibility with UAE banks. So, opening a local UAE bank account for IFZA companies is easy.
ECAG has 17 years of experience and expertise in company formations. We provide Technical support during the process. Make sure our consultant is available 24/7 to answer any questions or provide assistance along the way. You don't want any surprises during this sensitive process! Transparency and accuracy of information provided. Be sure that all information provided about the deal is accurate and up to date. Pricing competitiveness. Don't overpay for services. So, if you are planning to set up shop in Dubai’s fast-growing international free zones, be sure to consult ECAG first!
Manager – Company Incorporation