International Free Zone Authority is a free zone laid out in the Emirate of Dubai and is co-branded with Dubai Silicon Oasis Authority. IFZA quickly gained an extraordinary reputation and won the respect of the business community as one of the most favorable and fastest-growing free zones in the UAE. IFZA is situated in the Emirate of Dubai with offices in Dubai.
Since its launch, IFZA has asserted itself to become the cheapest free zone in the UAE. It has initiated various license packages which have gained considerable popularity amongst business owners in the UAE and all over the planet.
Due to its flexible, cost-effective, and creative licensing solutions, IFZA is now a free zone of preference for a large majority of the entrepreneurs and new businesses being established in the United Arab Emirates.
Benefits of setting up a company in International Free Zone Authority (IFZA)
- It is co-branded with the Dubai Silicon Oasis Authority (DSO)
- It’s a cost-efficient option for your business setup.
- Liabilities are limited for company setup in IFZA.
- It gives several non-visa and visa packages.
- Gives you opportunities to start a business with other free zone and mainland companies.
- Physical presence of shareholders is not mandated for IFZA free zone company formation in Dubai.
- Allows you to operate outside the UAE.
- Permits 100% ownership.
- Allows 100% repatriation of profits and capital.
- Gives quick registration process.
- It offers up to six activities on a single license.
- A physical office space is not compulsory.
- Situated in Dubai, which provides access to international markets
- Wide range of activities are available
- Straightforward and competitive pricing
- No NOC required from sponsor
License Options available in the IFZA
IFZA offers various license options and business activities that can help small local businesses or large global businesses. Next are the various types of licenses:
- Commercial license
A commercial license gives you the essential legal rights to launch import, export, storage, and distribution processes.
- Industrial license
An industrial license is relevant for those companies who wish to import raw materials in their area. It enables you to commence a business in the manufacturing and processing of a few designated goods.
- Professional license
Consultancy businesses and service providers are required to have professional license issues for them.
- Consultancy license
To give expert consultancy services to professionals you need to have a consultancy license in IFZA.
- Service license
Production and transportation of services are the main activities authorized for those who have service licenses administered under their company’s name.
- General trading license
A wide range of services and trading opportunities become unrestricted to you if you own an IFZA general trading license.
- Branch
Existing companies can open a branch in Dubai IFZA if the branch and the parent company will carry out similar activities.
A branch established at IFZA is suffixed by the term ‘FZCO’.
Types of Office Spaces in International Free Zone Authority (IFZA)
- Flexi desk
It is a furnished shared desk that can be utilized for a maximum of 10 hours per week – from Sundays to Thursdays from 8:30 A.M to 6:00 P.M. The Flexi desk comprises a wifi connection, company address at the IFZA free zone, and meeting room usage of one hour per month. Conference rooms can also be used for extra payment.
- Flexi desk+
It is also a furnished dedicated desk situated in the free zone. There is no time limitation on the usage of these desks. Extra facilities include wifi connection, meeting room access for five hours per month, and a parking space. The conference room can also be used on making an extra payment.
- Dedicated office
This is an office space of 9 m² in a shared space. The office space will include one workstation and will come with access to wifi, meeting rooms for five hours per month, conference room for one hour per month, and a parking space.
- Private Office
IFZA gives private offices of 12.5 m² fitted with an executive desk or two workstations. This office can be used 24 hours a day and 7 days a week. Secondary services include wifi connection, meeting rooms for seven hours per month, a conference room for two hours per month, and a parking space.
- Personalized office
A personalized office at IFZA is an unfurnished space of twenty square meters and above. In addition to a personalized office, a user gets access to wifi, conference rooms for five hours per month, meeting rooms for seven hours per month, and two parking spaces. Like private offices, personalized offices can be used 24 hours a day and 7 days a week.
Company formation process with International Free Zone Authority
The steps of setting up your company in Dubai IFZA involve the following:
- Decide on the eligible company structure
- Apply for business registration
- Submission of all required documents
- Pay the essential license fee
- Issuance of e-agreement from IFZA
- Sign e-agreement and share capital letter
- Issuance of e-license
Situated in the heart of Dubai, the IFZA is soon set to become an important investment center within the developing economy of the UAE.
Ready to incorporate your company in the IFZA?- Contact your Damalion expert now to register your Dubai company with bank account.
