IFZA Dubai OVERVIEW:
| Registry of IFZA Dubai | Free Zone Company in the Emirate of Dubai registered with the Registry of Dubai Silicon Oasis located in Dubai Digital Park. |
| Allowed activities | The company may engage in any activity. For some business activities, a third party approval is required such banking, insurance and financial activities. |
| Company Share Capital | Minimum AED 10,000. |
| Manager/Director(s) | Minimum one. It can be either a natural person or a legal entity (in which case, a natural person Manager must also be appointed). |
| Shareholder(s)/Partner(s) | Any natural person (individual – minimum 21 years old) or legal entity (company), regardless of nationality. |
| Legal form | Limited Liability Company (LLC) |
| Accounting / Bookkeeping | Mandatory: Accounting and bookkeeping are mandatory. |
| Audit / Financial statement | Mandatory: Yearly financial statement and Audit report is required to renew the trade license with IFZA Free Zone |
| Registration timeline | 3 to 5 business days to register the company |
IFZA Company Setup: Process & Time frame:
Company Setup within the International Free Zone Authority (IFZA) is a swift and straightforward process, typically finalized within 3 to 5 working days. the entire business setup can be executed remotely, eliminating the necessity for personal presence during the company formation.
The necessary documents required for starting the registration of process with IFZA Free Zone Dubai:
- 3 Options for the company name by order
- Copy of the passport of the Shareholders, Directors and Manager
- Residential address: Proof of address less than 3 months old
- Contact number and Email address
- Passport-sized photo
The authority may request additional documents such us Personal bank statement, Salary Certificate, or parent company documents in case of corporate Shareholder
Once the company registration approved, IFZA Dubai will provide the following documents:
- Trade License
- Certificate of Incorporation
- Memorandum & Articles of Association
- Lease Agreement
IFZA Trade Licence: Registration & renewal cost:
IFZA license registration fees starts from 12,900 AED including registration address with 3 business activity under the same license category:
| Type of licence | Visa Eligibility | License cost first year | License Renewal fee |
| ZERO visa package | AED 12,900 | AED 12,900 |
| 1 visa package | AED 14,900 | AED 14,900 |
| 2 visas package | AED 16,900 | AED 16,900 |
| 3 visas package | AED 18,900 | AED 18,900 |
| 4 visas Package | AED 20,900 | AED 20,900 |
Dubai residence visa cost: IFZA
The cost of residence visa with IFZA Dubai is:
- IFZA visa fee, AED 3,750 ( Investor / Partner visa, additional AED 1,000).
- Establishment Card: AED 2,000 (1st year) | Renewal fee AED 2,200
- Medical check: AED 850.
- Emirates ID, 390 AED.
- Change of status: AED 1,600 ( applicable if the applicant is inside country).
The usual time frames would be the following:
> Company Registration : 3 to 5 business days
> Establishment card: 3 days
> Entry Permit visa: 7 to 9 working days
> Medical check-up, Emirates-ID, and visa stamping: 5-6 working days
The residency validity for the company employees and owners is 2 years.
IFZA License Renewal:
Renewing your license is simple and costs the same as when you first registered, If you want to change your company information during renewal, there are no extra charges. To renew, just fill out an application form and make the payment.
The requirements for the License renewal are:
- Submission of an application form: Contact your Business setup Consultant to submit the request.
- Payment of the renewal fee
- Submission of Financial statement: by 1st of January 2024, its required to submit the financial reports to renew your trade license and remain compliant with the licensing regulations.
- The renewed trade license will be release after 5 working days.
Trade License Amendement: IFZA Free Zone
If you want to make changes to your company details in the International Free Zone Authority (IFZA Dubai) there’s a fee of 2,000 AED. Each amendement will cost AED 2,000 such as change shareholder, amendement of Business activity, Change of Manager. However, you have the freedom to make several changes without any limits.
The amendment require to submit a shareholder resolution stating the changes to be request. Our professional Team will assist you to draft the resolution as per the requirement of licensing department of IFZA Dubai ( International Free Zone Authority)
IFZA Company Liquidation / De-Registration
IFZA is a very affordable place to close down a company, and they make the process easy. It costs a set amount of 2,000 AED to close a business. To start, cancel any visas, and then send the original papers and a signed cancellation form to the International Free Zone Authority (IFZA Dubai). Additional fee will be applied for the company liquidation such us:
- Liquidation report from Approved auditor
- Residence visa cancellation of shareholders and employees
- Establishment Card Cancellation
- Processing fee
Professional Advice on Starting a Business in Dubai:
IFZA offers a perfect balance between work, life, and business. If you want to set up your business quickly, easily, IFZA is a the best choice. If your type of business isn’t supported by IFZA, you might also think about Sharjah Media City or SPC Free Zone as another option.
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