International Free Zone Authority, also known as IFZA, is one of the most popular free trade zones in the United Arab Emirates. It was founded in 2018 in Fujairah and moved to Dubai in 2022. IFZA is now regulated by Dubai Silicon Oasis Authority (DSOA). The following article will discuss all you need to know about IFZA license cost and its advantages.
What is a Free Zone?
Free Economic Zones, Free Economic Areas, or Free Zones are a class of Special Economic Zones designated by various national ministries of commerce. The term denotes areas where businesses are taxed little or nothing to facilitate economic activity. Each country determines taxation rules and tariffs.
Free Zones in Dubai
Dubai is one of the Middle East’s most profitable and investor-friendly destinations. Dubai’s unique location made it easy to access Asian countries. It has several free zones for trading with benefits you cannot find in other countries. Tax exemption is one of the most important advantages of trading in Dubai.
There are more than 20 free zones in Dubai, and among them, IFZA became very popular to have highly-beneficial features.
IFZA is located in the suburbs of Dubai city and is made of a large office complex. In recent years, IFZA has become the most popular choice among global investors due to its attractive corporate packages, including 3-year and 5-year license packages at heavily discounted rates. The availability of multi-year license packages and a wide range of business activities make the IFZA a unique free trade zone in the United Arab Emirates.
Advantages of Establish a Business in IFZA Free Zone
In addition to being highly cost-efficient, IFZA has highly advanced high-tech offices and rental warehouses in the Dubai Silicon Oasis. It has facilities, including large meeting rooms at Dubai Silicon Oasis. Also, the Free Zone Authority can arrange all international events at discounted rates in five-star hotels in Dubai.
IFZA free trade zone also provides opportunities for entrepreneurs to grow and expand. It has a variety of packages with many benefits. For instance, IFZA has a package that offers lifetime visas to investors. Besides, investors from all over the world can apply for numerous visa packages at affordable prices.
Investors can register and license their business in as little as two business days. IFZA issues the cheapest general trade licenses in Dubai. General trading licenses (covering multiple commodities) typically require a large amount of capital to be shown to the bank, and license fees are very high. But in this free zone, proof of funds is not required for license issuance.
The physical presence of investors is not required in IFZA; no physical office is also needed. Investors can register for their company and start their business in a few days. It can be said that IFZA provides the easiest and fastest way to start a company in Dubai.
Types of Licenses in IFZA Free Zone
There are 6 types of licenses investors can register for in IFZA:
- Consultancy License
A consultancy license is issued to companies that provide professional consultancy services for experts in different fields.
- Service License
You can product, re-product, and distribute different services with this license.
- Trading License
A trading license allows investors to trade items mentioned in the trade license.
- General Trading License
By holding this license, investors can trade a more comprehensive range of items.
- Industrial License
This license allows investors to import raw materials, package them, and export.
- Holding License
This license permits ownership of independent assets and/or shares in other companies.
General Trading License, The most popular IFZA License
If you want to start a company where you trade items unrelated to a specific industry, you should register for the IFZA’s General Trading License. By holding the General Trading License, one company can import, export, and trade a wide range of products in the specific Emirates issued in the license.
General Trading License allows companies to import and export home appliances, furniture, clothes, building materials, etc.
IFZA license Cost
IFZA is a fast-growing business center in Dubai’s Silicon Oasis. It provides an affordable free zone company setup for local and international companies and enables international investors to operate in the UAE. IFZA has world-class infrastructure facilities, low initial costs, and many advantages for foreign investors.
There are various business packages in International Free Zone Authority. Among them, the General Trading license, The Service license, and Consultancy license are the most popular for investors.
The list of different IFZA license cost is as follows:
- Zero Visa Package
- One Visa Package
- Two Visa Package
- Three Visa Package
- Four Visa Package
- Five Visa Package
- Six Visa Package
We have listed all the information you need for each visa category:
Zero Visa Package:
- Price: 13,900 AED
- Up to 3 Shareholders
- No Visa Allocation
- License
- Memorandum and articles of association
- Dedicated account manager
One Visa Package:
- Price: 21,900 AED
- Up to 3 Shareholders
- 1 Visa Allocation
- 1 Residence Visa Free for Life
- License
- Memorandum and articles of association
- Dedicated account manager
Two Visa Packages:
- Price: 25,900 AED
- Up to 3 Shareholders
- 2 Visa Allocation
- 1 Residence Visa Free for Life
- License
- Memorandum and articles of association
- Dedicated account manager
Three Visa Package:
- Price: 27,900 AED
- Up to 3 Shareholders
- 3 Visa Allocation
- 1 Residence Visa Free for Life
- License
- Memorandum and articles of association
- Dedicated account manager
Four Visa Package:
- Price: 29,900 AED
- Up to 3 Shareholders
- 4 Visa Allocation
- 1 Residence Visa Free for Life
- License
- Memorandum and articles of association
- Dedicated account manager
Five Visa Package:
- Price: 31,900 AED
- Up to 3 Shareholders
- 5 Visa Allocation
- 1 Residence Visa Free for Life
- License
- Memorandum and articles of association
- Dedicated account manager
Six Visa Package:
- Price: 33,900 AED
- Up to 3 Shareholders
- 6 Visa Allocation
- 1 Residence Visa Free for Life
- License
- Memorandum and articles of association
- Dedicated account manager
To get more information and see updated prices check the IFZA website.
How can I register to get IFZA license?
As we mentioned above, one of the most significant advantages of the IFZA free zone is that you can register for IFZA licenses in just two days.
First, you need to sign and submit your application. After your company’s name has been reserved, you need to submit all the required documents. After 2 or 3 days your business license will be issued by IFZA.
Documents required to establish an IFZA company
The following documents are required for individual shareholders:
- Copy of passport.
- Passport photo of each shareholder.
- Emirates ID (if the shareholder is a UAE resident).
- Copy of visa (if the shareholder is a UAE resident).
The following documents are required for a corporate shareholder:
- Notarized and attested copy of board resolution.
- Notarized copy of memorandum and articles of association.
- Notarized copy of trade license.
- Notarized copy of the certificate of incorporation.
I want to export a car to Dubai .Is IFZA appropriate for this activity in terms of company registration?