START A BUSINESS IN UAE FREE ZONE

IFZA - International Free Zone Authority

Overview of  IFZA

International Free Zone Authority (IFZA) is based in Fujairah, which lies on the eastern side of UAE, along the Gulf of Oman. It is the most remote Emirate from Dubai.

If you are looking for options on how to start a business in Dubai, check some zones out this Emirate too.

IFZA is a very competitive free zone for Fujairah free zone company formation. It offers cost-effective fees and transparent procedures to investors to establish a business. It's a business center in Dubai gives a feeling of having your business based here. 

IFZA has a vast choice of packages: starting from zero visa companies, ending with up to 6 visa options.

Facilities

International Free Zone Authority Fujairah offers a wide range of office solutions. The facilities are located in Fujairah and Dubai as well.

It is the only free zone which has full-fledged business center for its clients in Dubai. It is situated in Dubai Motor City.

The following are the facilities available in IFZA:

  1. Flexi-desks
  2. Offices 
  3. Warehouses 

Office rent prices in IFZA start from 13,056 AED per year. It's facilities include:

  • WIFI
  • Electricity
  • AC
  • Access to printer, scanner and copy machine

 

Activities

IFZA provides a wide range of business activities. It is allowed to have up to 6 related activities in one license.

International free zone authority offers business activities with the following categories:

  • Consulting
  • Service
  • Trading

The two types of licenses available are:

  1. Consultancy and service
  2. Trading

Consulting and service activities can be on a single license. If trading activities are required, a separate license must be purchased.

Only E-commerce activity can be used on either or both licenses.

International free zone license costs

IFZA license fees start at 11,500 AED for zero-visa consultancy and service license.

A zero visa trading license starts at 13,500 AED.

Setting up a company in this Free Zone saves you the cost of capital requirements and annual audits.

Low cost license fees in IFZA (AED):

Type of licenceCost, AED
Non visa package11,500
Visa eligible company13,500

Non visa package 11,500

Visa eligible company 13,500

The visa costs are paid on top of the registration fees.

Company formation in the free zone

Company incorporation in International Free Zone Authority is fast and easy and can be completed within 3-4 working days.

The business set up can also be done remotely, personal presence is not required for the company formation.

The personal documents that are needed for the business set up in this Free Zone include:

Company name options

  1. Passport copy
  2. Residential address and phone number
  3. Utility bill as proof of address
  4. Passport-size photo (for visa-eligible companies)
  5. Copy of entry stamp to UAE (for visa-eligible companies)

The documents provided after successful completion of the registration are:

  1. Trade License
  2. Certificate of incorporation
  3. Share Certificate
  4. Memorandum of Association
  5. Articles of Association
  6. Lease Agreement 

UAE residence visas costs

The usual time-frames would be the following:

  • Company setup 3 days
  • Establishment card 7-10 days
  • Entry visa 5 days
  • Medical check-up, Emirates ID and visa stamping 5-6 days

Visa costs in IFZA (AED):

 IFZA feeMedical checkupEmirates ID
Owner3,750637370
Employee3,750637370

The visas of company owners and employees are valid for 3 years.

The visa processing in IFZA does not require health insurance.

Resident visa can be processed remotely.

Some nationalities are considered as high-risk in IFZA. Such countries include:

  • Syria
  • Bangladesh
  • Turkey
  • Egypt
  • Algeria
  • Sudan
  • Iraq, and others.

Note that this list changes frequently and varies in different Emirates, so there is always an option to accommodate a person of any nationality.

It is mostly recommended for citizens from high-risk countries to set up their business in Dubai because immigration restrictions in this Emirate is minimal.

If you want to bring your family to the UAE and open dependent visas for them, you need to satisfy these requirements:

  1. Rent an apartment in UAE. A tenancy contract must be in the name of the sponsor.
  2. Attest marriage certificate and birth certificate of the children in the UAE Embassy in the country of origin and in the Ministry of foreign affairs in the UAE. 
  3. Translate marriage certificate and birth certificate into Arabic.

Renewal of license

The renewal process is easy and straightforward. It is the same price as the first year license registration cost.

If you want to make any changes in your company during the renewal, there are no amendment charges.

The requirements for the renewal are:

  • Submission of application form
  • Payment

Amendments

In International Free Zone Authority, if the amendment is done outside of the renewal process, a fee of 2,000 AED will be charged.

However, clients have the advantage of making as many changes as they like.

Minor changes can be done just by sending an email from the registered address. But for major changes, a Board Resolution is required.

Liquidation of IFZA company

IFZA is one of the most affordable free zones when it comes to the cost of liquidation.

They understand the importance of making the liquidation process as easy as possible.

The liquidation cost is 2,000 AED.

Simply cancel any visas first and then hand in the original documents with a signed cancellation form to International Free Zone Authority.

Business setup experts opinion

IFZA offers an all perfect balance: work, life, and business.

If you are looking for a fast, easy and remote business set up option, IFZA is a good solution for you.

If you are unable to find your business activity in IFZA, an alternative could be Sharjah Media City.

BENEFITS OF IFZA FREE ZONE COMPANY

  • Big variety of business activities
  • Up to 6 activities in one license
  • Fully remote incorporation
  • Offices, warehouses, hotel and residential apartments within same premises in Fujairah
  • Business center for license holders in Dubai Motor City

START YOUR BUSINESS IN IFZA TODAY

HOLDING COMPANY LICENSE COSTS IN IFZA

NO VISA COMPANY

LICENSE TYPE VISAS INCLUDED TOTAL COST
Holding company no visa AED 15,800 $4,350 download breakdown

IFZA LICENSE COSTS

UP 6 VISAS COMPANY

LICENSE TYPE VISAS INCLUDED TOTAL COST
License + Flexi desk no visa AED 17,800 $4,900 download breakdown
License + Flexi desk 1 visa AED 30,808 $8,450 download breakdown
License + Flexi desk 2 visas AED 38,940 $10,700 download breakdown
License + Flexi desk 3 visas AED 46,673 $12,800 download breakdown
License + Flexi desk 4 visas AED 54,205 $14,900 download breakdown
License + Flexi desk 5 visas AED 61,378 $16,850 download breakdown
License + Flexi desk 6 visas AED 69,470 $19,050 download breakdown

DOCUMENTS FOR IFZA FREE ZONE COMPANY SETUP

DOCUMENTS

PROCEDURE

INDIVIDUAL SHAREHOLDER

  • - Passport
  • - Passport size photo
  • - Description of business
  • - Residential address
  • 1 day- Company registration
  • 1-2 weeks- Security approval and Establishment card
  • 1 week- Entry visa
  • 1 day- Medical Check-Up and Emirates ID
  • 1 week- Visa stamping

Top 10 questions about IFZA company

  • If l register a company in a free zone outside of Dubai, can l live and have a bank account in Dubai?

    Yes, you can have a company registered outside Dubai, but reside in Dubai or any other Emirate. You do not have to live in the same Emirate where your visa belongs to. You can also have a bank account in a Dubai branch of any UAE bank of your choice.

  • Can I open a bank account remotely?

    No, you have to visit UAE personally. It is a requirement of a UAE Central bank which all local banks have to follow. Personal visit is required to make sure that the client is known by the bank.

  • Do banks give debit and credit cards or loans?

    Normally you can get a debit card for your newly opened company if there is only one shareholder. You can also have a credit card, but it will be given against a fixed deposit. As for the loan, it is possible to get it, but you need to show company operations and profits to the bank. Upon checking your company's turnovers and profits, a bank may approve a loan. We recommend applying for it at least after one year of company's operations.

  • Can a free zone company hold its offices outside the free zone?

    Officially an office of a free zone company has to be located only within the free zone where this company was registered. If you need an office in Dubai, you have an option to rent a space in a Business center and use it either a few times per month or daily, depending on the package that you choose. However, the free zone minimum required space (flexi desk) cannot be cancelled.

  • Why do I need a flexi desk or office?

    A flexi desk is an obligatory requirement for any company eligible for resident visas. UAE government obliges to have it because it's the minimum physical office space, that a company who has any individual under its visa must have. Apart from that, flexi desk is helpful for bank account opening. The compliance department of the banks needs to see that a company has some kind of office or at least a small physical seat, where it can be working from.

  • Do we have to pay VAT if our company is registered in the Free Zone?

    VAT obligations of the company depend not only on the place of its registration, but on the place where its business takes place. To start with, VAT comes into picture once your taxable turnover reaches 375 000 AED. Taxable turnover means the turnover which was done in the UAE. If your company is registered in a Free Zone, but the trading takes place abroad (for example you sell goods from India to Africa), that turnover is not considered taxable, because the transactions are taking place out of UAE. It means that you do not have to pay VAT. But if you have a free zone company and import goods to UAE, you have to add 5% VAT to your Invoices and pay VAT. If your company is registered in a designated free and sells the goods to another designated free zone or within the same zone, VAT does not appear.

  • Should I pay any other TAX?

    UAE is free from income tax and corporate tax. It has only imported tax 5% for the goods that you bring into the country and VAT 5% for the trading or service transactions that happened in UAE.

  • Why will a free zone company suit me better than an offshore or a mainland entity?

    Everything depends on your business model and requirements, but a free zone setup is the most suitable for the majority of the business needs. Free Zone company has 100% foreign ownership unlike mainland where you need a local partner or agent, it can be eligible for resident visas, allows doing business both in and out of UAE, more favorable by the banks in comparison to offshore companies, can have a flexi desk space instead of an executive office like in mainland companies. Free Zone is a good way to start a business for reasonable fees and without unwanted obligations.

  • Can you guarantee opening of a bank account?

    We do our best when we setup your company in such a way that would make account opening easier for you. Knowing your background and your business model, we can give you our estimation about the chances of successful account opening. The approval of the account fully depends on the bank. Each case goes to a few departments of the bank where it has to be approved before the account gets opened. If the bank has any questions or needs clarifications, it will contact you directly with the inquiries. The more clear picture about your business you give to the bank, the higher your chances of account opening are. Being a consultancy company, we cannot guarantee opening of a bank account, because it depends on the factors which do not depend on us. However, we do our best to prepare you and your company for smooth and fast account opening.

  • Should I renew my company? When? How much does it cost?

    Yes, the company should be renewed annually. The cost of the renewal is usually less than the setup cost. It depends on your company package. You can get the price by downloading the Estimate from this page. Renewal does not require personal presence of the owner and can be done by your agent. After company renewal, the new license has to be shown to the bank in order to extend the bank account. It is always included into our renewal service.

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