Business Setup in IFZA
Business setup in IFZA Company formation IFZA
One of the key benefits of Ifza company formation is 100% foreign ownership. This means that you, as an entrepreneur, you have complete control over your business and can make decisions without the need for a local partner. Furthermore, Ifza has no corporate or personal income taxes, which can result in significant cost reductions for firms.
Ifza has contemporary infrastructure, strong transportation connections, and a trained workforce, making it an appealing location for businesses of all sizes. Furthermore, Ifza provides a variety of business activities from which entrepreneurs can pick, allowing you to create a firm in the field of your choice.
Documents required to setup a business in ifza
- Licence application form
- Passport copy of shareholders
- Passport-size photos of shareholders
- Emirates ID and Visa copy for UAE residents
Individual shareholders must have the following documents:
Passport copy of shareholders
Every shareholder must have a passport photo.
Emirates ID (if the shareholder is a resident of the UAE).
Visa copy (if the shareholder is a UAE resident).
A corporate shareholder must have the following documents:
Notarized copy of the trade license is required.
Notarized copy of the certificate of incorporation is required.
Notarized and attested copy of board resolution.
Notarized copy of the memorandum and articles of incorporation is required.
License Types Available In International Free Zone Authority
- Consultancy License – providing expert and professional consultancy services for professionals.
- Service License – allows production, re-production, transformation and distribution of services.
- Trading License – enables the licensee to trade items specified on the trade license.
- General Trading License – enables the licensee to trade wider range of items.
- Industrial License – allows to import raw materials, production, re-production, manufacture, package and export.
- Holding License – allows the holding standalone assets and/or shares in other companies.
IFZA Business Setup Cost
With 100% foreign ownership and attractive trade license packages starting at AED 12,900 for a wide range of commercial activities, IFZA also provides virtual office space, simple company creation, and help setting business bank accounts.
Renewal of license in IFZA Dubai
Ensure a Smooth License Renewal Process for Your IFZA Company in Dubai. As an entrepreneur in the International Free Zone Authority (IFZA) Dubai, it’s important to be compliant and keep your company license updated. License renewal is an important step in keeping your business running effectively and receiving the benefits of IFZA.
Renewing your license with IFZA is a streamlined process designed to minimize any disruptions to your business activities. By adhering to the renewal guidelines set by IFZA, you can enjoy uninterrupted operations, retain your business’s legal status, and continue to access the numerous benefits offered by the free zone.
IFZA provides a user-friendly online portal that allows you to conveniently initiate and manage your license renewal. The platform offers a range of services, including submitting the necessary documentation, making payments, and tracking the progress of your renewal application. With IFZA’s efficient digital system, you can save time and effort while ensuring compliance with the renewal requirements.
To ensure a seamless license renewal, it’s essential to familiarize yourself with the specific renewal procedures and timelines set by IFZA. Keeping track of renewal deadlines and proactively initiating the process will help you avoid any potential penalties or disruptions to your business operations. Socprollect is here to help you.
By prioritizing license renewal in IFZA Dubai, you demonstrate your commitment to maintaining a compliant and thriving business in one of the region’s most vibrant free zones. Embrace the renewal process as an opportunity to safeguard your business’s future and continue reaping the benefits of operating in IFZA.
FAQ
IFZA stands for International Free Zone Authority. It is a company formation and business setup authority based in the United Arab Emirates (UAE) that offers attractive free zone benefits and services for local and international businesses.
Company formation with IFZA offers several advantages, including 100% foreign ownership, zero corporate and personal taxes, no currency restrictions, flexible visa options, modern infrastructure, and access to world-class business facilities.
The company formation process in IFZA is efficient and streamlined. Typically, it takes around 3 to 5 working days to complete the initial company registration and obtain the necessary licenses, depending on the type of company and the completion of required documentation.
it’s always advisable to seek professional guidance and consult with DMCC or a business setup consultant for specific and up-to-date information based on your unique requirements. For More details feel free to Contact Socprollect today