Company Formation In IFZA Free Zone
IFZA Organization Arrangement - Begin your Business Arrangement in Worldwide Free Zone Authority with practically no problem. For more information, get in touch with AceTax Consultants.
IFZA business setup step by step process
The following are the steps you need to take to establish your business in Dubai International Free Zone Authority:
- Decide on the best business structure
- Apply for business registration
- Submission of all required documents
- Pay the required license fee
- Issuance of e-agreement from IFZA
- Sign e-agreement and share capital letter (only applicable for FZE & FZCO)
- Issuance of e-license
The required documents for setting up a company are as follows:
- Complete application form
- Passport copy of owner/owners
- Visa copy
- Emirates ID copy
- Two coloured passport sized photographs with white background
Advantages of IFZA company setup
Some of the advantages of business setup in IFZA include the following:
- 100% foreign ownership
- No personal, income, or corporate taxes
- Full repatriation of capital and profits
- Strategic location boosting opportunities
- No paid-up share capital required
- Wide range of business activities
- Simple and quick set up process
- World-class infrastructures
- Leasing options
- Global connectivity
- Exemption from all import and export duties; however, you can’t import into mainland
Unique features about IFZA business setup
One of the few free zones in the UAE that stands out for its distinctive advantages and investment opportunities is IFZA. These include:
- The IFZA authorities do not require the investor to submit an annual audit report.
- The jurisdiction provides owners and employees with visas for up to three years.
- The free zone does not require an employee guarantee deposit.
- The physical presence of the investor is not required for company formation.
Licenses offered in IFZA Dubai
The establishment of a business in IFZA comes with a number of advantages, as previously stated. Furthermore, one of the significant benefits is that IFZA permits up to 7 exercises under one permit. The following licenses have been granted by the jurisdiction:
- Consultancy license
- General license
- Service license
- Trading license
- Industrial license
- Holding license
One of the few free zones in the United Arab Emirates that permits activities from different categories to be combined is the IFZA. E-commerce is also not considered a separate activity by this policy. However, an IFZA general trading license is still required to sell goods on online platforms.
International Free Zone License
The cost of an IFZA license is also very affordable. In IFZA, the cost of starting a business starts at AED 13,900. These packages start at nothing and go all the way up to six visa packages. The Dubai Department of Economic Development (DED) is responsible for all business activities permitted within IFZA.
IFZA Visa
The cost of an IFZA visa starts at AED 3750. In addition, the free zone is constantly offering discounts and more competitive pricing to investors who want to start a business in IFZA.
License renewal in International Free Zone Authority
Businesses operating in an IFZA-free zone can easily and economically renew their licenses.You will need to pay the renewal fee and send in the signed lease agreement for your facility to complete the renewal process for your business. Without having to be physically present in the UAE, you can renew your license through an agent.
Business liquidation in IFZA free zone
Company liquidation, like renewal, does not require the owner's physical presence and can be carried out through an agent. To complete the liquidation process, you will be required to pay a fee to the government. At license liquidation, investors will be required to submit a comprehensive audit report.
The following steps must be completed before a company can be liquidated:
- Cancellation of visas
- Termination of lease agreement
- Closure of bank account
To figure out additional about different choices accessible to set up IFZA organization, contact AceTax — one of the most mind-blowing business arrangement organizations in Dubai.
Contact our knowledgeable consultants at +971 553 810 715 or send a WhatsApp message to +91-9899795588 to get started on your business journey and learn more. You can also send an email to info@acetaxuae.com to get answers to your questions quickly.