Choosing the right Free Zone suitable for your new business can be overwhelming, given the abundance of options. With approximately 48 free zones available, choosing the right one becomes a challenging task, especially when many zones outside Dubai offer similar business activities. This similarity complicates the decision-making process for shareholders striving to find the most suitable free zone for their business requirements.
IFZA Free Zone stands out as a promising choice, offering several compelling reasons for businesses to consider it as their preferred option in the UAE. One of the most significant advantages is the streamlined registration process. At IFZA, completing all necessary paperwork and launching your business typically takes only 3-5 days. However, it’s important to note that this timeframe is contingent upon the approval of the immigration department.
Moreover, the IFZA Free Zone provides a diverse range of business licenses, catering to various entrepreneurial ventures. Here is a list of the licenses available at IFZA Free Zone
- PROFESSIONAL LICENCE: Businesses provide professional consultancy services, such as Marketing, Management, IT, and similar services.
- TRADING LICENSE: Authorizes the import, export, distribution & storage of goods
- BRANCH: Foreign incorporated companies may also register a branch at IFZA Dubai
WHAT DOCUMENTS ARE NECESSARY FOR OBTAINING A BUSINESS LICENSE?
When applying for a business license in a Dubai Free Zone such as IFZA Free Zone, the following documents are typically needed:
License Application Form: You are required to complete the license application form supplied by your Business Setup Consultant. This form gathers crucial details about your business.
Passport Photo: A recent passport-sized photograph of the applicant(s) or the designated company representative is necessary.
Passport Copy: A clear colored copy of the passport applicant or the designated company representative is mandatory.
Emirates ID & Residency Visa Copies: If you are presently residing in the UAE, copies of your Emirates ID card and residency visa are required during the application process.
- Business Plan: Business plan is required for some business activities which are regulated by the local authority.
It’s essential to be aware that the specific nature of your business activities might necessitate additional documents or requirements.
Establish Your Company with IFZA Free Zone
Setting up your business in the International Free Zone (IFZA) has never been more convenient, all registration processes can be done remotely and presence is not required at any stage of the company incorporation. After extensively comparing various free zones, IFZA stands as a premier choice for new businesses in the UAE for the following reasons:
One of the cheapest Free Zone in the UAE: Affordable packages
IFZA stands out as the most budget-friendly free zone option in the UAE. Since its inception, IFZA has consistently offered highly competitive company formation packages compared to the other free zones. These packages boast significantly lower prices when considering license issuance costs and UAE residence visa expenses. IFZA frequently offers promotions and discounts to new investors.
Flexibility of the packages offered by IFZA
IFZA’s company formation packages are divided into various categories, spanning from zero (0) visa allocations to six (6) visa allocations. This setup provides shareholders with the freedom to initiate their business with zero (0) or one (1) visa packages and subsequently enhance their licenses to accommodate more visas. This flexibility empowers them to align their visa allocations with their evolving business and personal needs in the future.
Easy and Quick Registration Process
IFZA provides one of the most flexible and streamlined company formation processes in the UAE. The entire procedure can be completed remotely, eliminating the need for shareholders or authorized personnel to be physically present in the UAE. Application forms, as well as memorandums and articles of association, can be signed and exchanged in scanned formats. Notably, there is no requirement for any company formation documents to be presented in their original form. This hassle-free process positions IFZA as the preferred choice for shareholders who either cannot travel to IFZA offices or reside outside the UAE.
Free Zone location and advantage:
IFZA benefits from its strategic location at the heart of Dubai, providing swift access to vital commercial hubs and global transit networks. This central positioning makes it an ideal choice for businesses seeking seamless entry into the global market. While a free zone’s primary advantage is often cited as its tax benefits, IFZA’s strategic location enhances its appeal for companies requiring worldwide market accessibility.
Business Banking with IFZA Free Zone
Companies in IFZA have the convenience of opening corporate bank accounts with various local banks in the UAE. Our experience indicates that entities under IFZA find it notably easier to establish accounts with RAKBANK, Noor Bank, and Mashreq Bank. While other banks are also an option, the choice often depends on shareholder profiles, business activities, and UAE residence visa statuses of the individuals involved.
These advantages have positioned IFZA as a preferred choice among entrepreneurs and shareholders both within and outside the UAE. The free zone’s flexibility has significantly attracted new businesses to establish themselves in the UAE.
FreeZoneMarket.ae Powered by FZM Solutions as a registered agent and Business Setup Consultant of IFZA Free Zone provides comprehensive support for company formation under the International Free Zone Authority. This support includes the issuance of UAE visas for shareholders and employees, ensuring a streamlined incorporation process coupled with expert legal guidance.
Please feel free to reach out to us at +971 48 76 9890 or via email at info@FreeZoneMarket.ae. We are here to assist you every step of the way.