What is the International Free Zone Authority (IFZA) and Why You Should Consider It for Your Business

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Selecting the appropriate and best location for your setup business in Dubai is very important, particularly because there are more than 40+ free zones available.

It becomes really difficult sometimes to choose one best among them according to your business requirements. Finding the best free zone requires lots of research and consultation.

International free zone authorityIFZA was founded in Fujairah in 2018 and later moved its headquarters to Dubai Silicon Oasis (DSO), which is becoming a popular destination for entrepreneurs to set up business in Dubai. The most economical free zone for starting a business is known to be IFZA. It offers a highly customised strategy, efficient global service standards, and cost-effective solutions.

One important advantage is the quick registration procedure; it usually takes three to five days to complete all necessary documentation and register your company. But it’s important to recognize that this timeline depends on the immigration department’s approval.

Additionally, international free zone authority-IFZA focuses on professional, commercial, and Branch licences. IFZA has become the prominent choice for businesses because of the following reasons:

Reasons Why IFZA Has Become Prominent Choice For Business Setup in Dubai

REASONABLE PRICES:

There are over 46 free zones in the UAE.  International free zone authority-IFZA is situated in the Emirate of Dubai and is one of the most affordable free zones available in the UAE. If you are not concerned about having a physical office or address, this Dubai based free zone opportunity may be suitable to your needs. A corporation trade licence costs AED 12,500, or $3,405, at first. Prices and packages vary based on the number of visas required for residency in the United Arab Emirates.

Promotions & DISCOUNTS:

This free zone works tirelessly to support and mentor business owners while they travel. Promotions are often held in the free zone to help new market entrants make it financially feasible. An illustration of this would be the promotion that the free zone ran from month to month in 2023, which allowed new licence holders to receive up to two complimentary residency visas for every new company licence

Over 2000+ Commercial Activities:

With the international free zone authority-IFZA, almost 2,000+ active commercial activities are possible. One of the few free zones that allows you to combine trading, services, and consulting under a single licence—as long as they are in relevant business fields—is international free zone authority-IFZA, which is an additional benefit.

For instance, a single licence that includes all stated operations is accepted for IT consulting, IT repair services, and IT equipment trade. You will have to obtain separate trade and consulting licences in other free zones, which will increase your costs or restrict the range of products and services you can offer.

Pre-approval by the shareholder:

While setting up a business in the UAE, there are numerous factors to take into account. For instance, when setting up a business, the nationality (or place of birth) of the company’s shareholder(s) matters.

It may be necessary for some nationalities to undergo extra security and immigration procedures. To be allowed to own or be a shareholder in a UAE firm, each shareholder must complete the immigration and security procedures in the UAE while setting up a business in Dubai. international free zone authority-IFZA is among the limited number of free zones that provide pre-approval checks to shareholders. This indicates that Creation Business Consultants will apply for the setup of your company and obtain a pre-approval check from shareholders.

To guarantee that each shareholder will pass the security and immigration checks and be permitted to own and register their UAE company, there is a nominal cost of $150 per shareholder.

You could wonder, what’s the advantage here? assurance that the shareholders have satisfied the requirements and qualify for a UAE free zone company, as well as peace of mind. The pre-approval fee is then subtracted from the total business setup fees, provided that you pay the remaining balance to register and finish the company setup within ten days. Because of this, everyone benefits, yet this service is only available in a small number of free zones.

EASY AND FAST SETUP METHOD:

The fact that all business and branch creation processes are done online is still another significant benefit. Digital signatures are accepted in the international free zone authority–IFZA free zone.

Copies of passports and corporate documents are acceptable by international free zone authority-IFZA as long as they are supplied via email via a registered and approved IFZA partner and are in clear colour. The first company formation and registration only require copies of the certified original paperwork; this substantially expedites the process of setting up your business. Once more, this reduces expenses and streamlines the establishment and registration process for your business.

Types of Trade Licences Offered by IFZA

You have a variety of licence options to select from when launching a business in the international free zone authority-IFZA free zone, including:

Licence for Services:
Businesses that offer services—such as marketing, IT, consulting, or other professional services—should use this licence.

licence for industry:

Businesses engaged in manufacturing, producing, or other industrial operations need to get an industrial licence.

Licence to Trade:

Businesses can acquire, sell, and trade items when they have a trading licence. Entrepreneurs are allowed to operate up to seven different businesses under a single trade licence in international free zone authority-IFZA.

Holding Licence:

Businesses that want to own assets, investments, or interests in other companies can use this licence.

Because it permits businesses to engage in professional, commercial, and industrial activities under a single licence, international free zone authority-IFZA differs from other free zones in the United Arab Emirates. This implies that you can mix and match various activities that support your company’s goals.

Furthermore, e-commerce is not seen by international free zone authority-IFZA as a distinct activity. Alternatively, business owners in Dubai can use a general trade licence to offer products online. This adaptability enables companies to operate within IFZA regulations while thriving in the digital economy.

Why is company formation in IFZA the right move for your business?

One of the best things about setting up a business in international free zone authority-IFZA is that it offers a range of packages to enable entrepreneurs who wish to advance in the business world to get started in the proper direction.

Additionally, the region is strategically close to numerous significant markets. The benefits of setting up a business here outweigh the drawbacks of forming an international free zone authority-IFZA corporation. This area is exempt from the laws and rules that apply to businesses established on the mainland.

The various business structures in an international free zone authority-IFZA include branch companies, holding companies, and Limited Liability Companies (LLCs) having one or more shareholders. The fact that you can only lose as much as you invest in your LLC in international free zone authority-IFZA is one of its strongest features.

One of the main benefits of forming a company in an international free zone authority-IFZA is that it provides a range of packages for business owners who wish to grow their firm and establish themselves as industry leaders.

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