17 Aug What is the Process for IFZA Dubai Free Zone Company Formation?
Dubai Silicon Oasis has recently regulated a new business hub called IFZA – Dubai free zone. Within a short period, IFZA Dubai Free Zone Company Formation became a popular choice among investors from across the globe. One of the reasons being the attractive company formation packages it offers. IFZA – Dubai Free Zone offers 3-year and 5-year IFZA Dubai license packages.
International Free Zone Authority (IFZA) has gained a reputation for being the cheapest free zone for company formation in Dubai. IFZA UAE Free Zone has modern and high-tech corporate offices and storage places for renting at Dubai Silicon Oasis. It offers various facilities for Company Formation in IFZA, including huge conference rooms, digital equipment, high discount on the business license in IFZA, and good connectivity.
If you are also interested in forming a company in Dubai, we recommend you go for IFZA free zone company setup. In this blog, we have provided all the necessary information related to IFZA free zone company registration, business license in IFZA, and IFZA free zone license cost 2021.
Why Choose Company Setup in IFZA Dubai Over Other Free Zones?
If you want to establish a strong presence in the UAE market, you can choose to go for IFZA free zone company setup. Company formation in IFZA offers low-cost licensing, an easy-to-follow process, based on, and minimum paperwork for those who want to do business in Dubai. IFZA Dubai free zone offers plenty of benefits, some of which are mentioned below:
- Cost-efficient options for your business setup.
- Liabilities are limited for company setup in IFZA Dubai.
- Provides you several non-visa and visa packages at high discounts.
- Grants you opportunities to initiate business with other free zone and mainland companies.
- Avail of 0% income tax for you.
- The physical presence of shareholders is not required for IFZA free zone company formation in Dubai.
- Permits you to operate outside UAE.
- Expand the availability of commercial and trading services for your company.
- Allows 100% ownership.
- Permits hundred percent repatriation of profits and capital.
- Provides a quick and remote registration process.
- Offers up to six activities on a single license.
- Easily open a bank account.
- It is not compulsory to have a physical office space.
- The guarantee deposit is not required for an employment visa.
What is the process for IFZA Dubai Free Zone Company Formation?
With most of the things happening online, IFZA free zone company registration turns out to be just a few clicks away. All you need to do is visit the official website and select a suitable package on the basis of your business requirement. Though to make it even easier for you, we have provided step by step process for a company formation in IFZA below:
Step 1. Visit the Shuraa India Branch Website shuraa.in.
Step 2. Select a package as advised by Shuraa‘s advisor.
Step 3. Submit a scanned passport-size photo & scanned passports of all the shareholders involved.
Step 4. Submit the latest UAE visit visa of each shareholder.
Step 5. After executing all the above-mentioned tasks, you will be issued your IFZA Dubai License within 10 working days.
What are the Types of Licenses Issued by IFZA?
The International Free Zone Authority (IFZA) issues several types of licenses:
1. Commercial license
A commercial license provides you the necessary legal rights to initiate import, export, storage, and distribution procedures.
2. Industrial license
An industrial license is applicable for those companies who wish to import raw materials in their vicinity. Manufacturing and processing of a few selected goods are made legal only if you have an industrial license.
3. Professional license
Consultancy businesses and service providers are expected to have professional license issues for them. A professional license is issued by the DED.
4. Consultancy license
To provide expert consultancy services for professionals you must have a consultancy license in IFZA.
5. Service license
Manufacturing, production, and transportation of services are the key activities allowed for those who have service licenses issued under their companies name.
6. General trading license
A wide range of services and trading opportunities become available to you if you own an IFZA general trading license. A general trade license allows you to initiate trading of your goods and services in a B2B, B2C, and a C2B business model.
What Documents are Required to Obtain a Business License in IFZA?
Following is a list of documents required for the IFZA Free Zone Company Formation in Dubai:
- Copy of your passport.
- Passport size photo.
- Proof of entry or UAE visit visa
What are the Steps to Obtain a UAE Residence Visa Through an IFZA Company?
Step 1. After getting your business license in IFZA you can apply for the establishment card of your company within 5-7 days.
Strep 2. Fill the application form and submit it to IFZA.
Step 3. Pay the fees mentioned for the procedure.
Step 4. Once the visa is issued you will be allotted dates for your medical check-up (in under 2-3 working days).
Step 5. Take the medical test and then apply for your Emirates ID.
Step 6. Once your medical result is approved, go for the Emirates biometric scanning process.
Step 7. Send the requested documents to the IFZA office for further verification.
Step 8. Collect your Emirates ID and Visa in about 9-10 days.
What is the IFZA Free Zone License Cost 2021?
IFZA free zone license cost in Dubai includes the cost of the general trading license, service license, and consultancy license. A detailed explanation of all the factors contributing to this prize pool is as follows:
- The cost of the IFZA 1 year business license package with 1 investor visa can be anywhere near AED 13,900 – AED 29,900.
- A 3-year IFZA business license package can cost you around AED 41,700 – AED 65,000.
- A 5-year IFZA free zone license cost can be around AED 69,500 – AED 1000,30.
What are the PRO Services in IFZA Free Zone?
IFZA provides the following PRO Services:
- Card of Labor Establishment.
- Amending of Trade License
- Residence Visa for all the Employees and other business officials.
- Work Permit of employees.
- Approval for trade name.
- Notary and Legal authentication.
- Obtaining a tenancy contract.
- Ejari registration and acquiring unique Ejari code.
- Renewal of trade license.
Start Your IFZA Freezone Company Registration
Now that you are well informed about the IFZA free zone company formation in Dubai and the license acquiring process, you can easily place an order remotely on the official website to start your registration process. Though the process to register is quite simple, you can always reach out to expert business consultants at Shuraa Business Setup India Br.
We will assist you with the registration process and paperwork to acquire your business license in IFZA at low rates. All you have to do is connect with us over call, tell us your requirements and we will look after the rest.