Complete Guide 2024 for IFZA Freezone Company Setup Dubai

IFZA Freezone Company Setup Dubai: IFZA refers to the International Free Zone Authority. Free zones are designated areas within a country that offer special incentives, such as tax exemptions and reduced regulations, to encourage foreign investment and business activities. These zones are designed to attract international businesses, promote economic growth, and facilitate trade. Dubai is known for having several free zones, each catering to specific industries and types of businesses. 

IFZA Freezone Company Setup Dubai

Setting up a company in IFZA Dubai involves several steps

1.    Choose Your Business Activity To Setup IFZA Dubai

Choosing your business activity in IFZA involves considering the nature of your business and the activities you plan to engage in. Here are the general steps to help you choose your business activity:

• Clearly define the nature of your business. Identify the main products or services you intend to offer.
• IFZA provides a comprehensive list of permitted business activities. You can usually find this list on the official IFZA website or by contacting experienced business setup consultants.
• Look for categories that best describe your business activities. 
• Make sure to review business activities to ensure that your chosen activity is permissible and that you can meet any necessary conditions.
• If you plan to expand your business in the future, consider choosing a business activity that allows for flexibility and potential growth. 
• Assess the demand for your products or services in the local market and ensure that a market is available for them.
• Different business activities may fall under specific license types (e.g., trading license, service license, industrial license). Confirm the license type that corresponds to your chosen business activity.
• Familiarize yourself with IFZA’s policies related to the chosen business activity. This includes any specific regulations, reporting requirements, and compliance standards.
• Seek advice from business consultants, legal professionals, or advisors such as  Star Storm in Dubai who are familiar with the IFZA regulations. 
• Before finalizing your business activity, submit the proposed activity to IFZA for approval. 

Keep updated about the IFZA rules and regulations for the business setup in Dubai. 

 

2.    Business Structure for Company in IFZA Dubai

When setting up a company in IFZA, you will need to choose a suitable business structure. Here are some considerations to help you choose the right business structure for your IFZA company:

• Free Zone Limited Liability Company (FZ-LLC): FZ-LLC structures allow 100% foreign ownership. This means that you can own the entire business without the need for a local partner. FZ-LLCs are considered separate legal entities from their owners, providing limited liability protection. 
• Branch Setup: Setting up a branch allows an existing foreign company to establish a presence in the free zone. The branch is an extension of the parent company, and the parent company retains control. Unlike an FZ-LLC, a branch is not a separate legal entity from the parent company. It operates under the umbrella of the parent entity. 
• The nature of your business and your long-term goals can influence your choice. If you want full control and ownership, an FZ-LLC might be more suitable. If you are expanding an existing business and want a simpler setup, a branch might be appropriate.
• Evaluate the cost implications of each structure, including initial setup costs, ongoing operational expenses, and any renewal fees.
• Seek advice from legal and business professionals such as https://starstormuae.com/ in Dubai who are familiar with the IFZA regulations. 

3. Name Approval For IFZA Free Zone

When choosing a company name in IFZA, it is important to adhere to specific naming conventions and guidelines set by the free zone authority. Naming rules are in place to ensure clarity, transparency, and compliance with regulatory standards. Here are some general naming conventions for choosing a company name in IFZA:

• The company name should be distinctive and not identical or closely resembling the names of existing companies in IFZA or elsewhere.
• Include a legal form indicator as part of the company name. 
• You may be required to include an indicator (nature) of the business activity in the company name. 
• Avoid using any language that is offensive, obscene, or violates public morals.
• Certain terms may be restricted or prohibited due to legal or cultural considerations. Ensure that your chosen name does not include such terms.
• Before finalizing the company name, you may need to seek approval from IFZA. Submit the proposed name to IFZA for review and approval.
• The company name should not be misleading or create a false impression about the nature of the business.
• If using personal names in the company name, ensure that you have the consent of the individuals involved.
• Conduct a check to ensure that the proposed company name does not infringe on existing trademarks or intellectual property rights.
• Familiarize yourself with any specific naming guidelines provided by IFZA and ensure compliance with those guidelines.
• Verify the availability of the proposed name to ensure that it has not already been registered by another entity in IFZA.

4.    Type of Business License for IFZA Dubai

IFZA typically offers various types of business licenses to accommodate different business activities and industries. Here are some common types of business licenses offered by IFZA:

• Trading License: It allows companies to engage in trading activities, including the import, export, distribution, and storage of goods. 
• Service License: It is suitable for businesses offering services such as consulting, advisory, IT services, marketing, and other non-manufacturing activities.
• Industrial License: It is designed for companies involved in manufacturing, processing, assembling, and other industrial activities.
• Holding License: It allows a company to hold and manage investments, assets, and stakes in other companies.
• E-Commerce License: It is specifically for businesses engaged in online trading and e-commerce activities. IFZA Freezone license for the ecommerce industry here in Dubai.
• Freelancer Permit: It is suited for individual professionals, freelancers, and sole practitioners offering services in fields such as consulting, writing, design, etc. One of the best options for the freelancer is to get the IFZA Dubai license.
• Educational License: It is designed for educational institutions and companies providing educational services.
• Media License: It is tailored for businesses in the media and entertainment industry, including publishing, broadcasting, and production.
• Consultancy License: It is meant for companies offering consultancy services in various fields such as management, finance, HR, etc.
• Events Management License: It is appropriate for businesses engaged in organizing and managing events, exhibitions, conferences, etc.
• Real Estate License: It allows companies to engage in real estate activities, including buying, selling, and leasing properties.
• Healthcare License: It is meant for companies operating in the healthcare sector, including clinics, medical centers, and related services.
• Food and Beverage License: It is suited for businesses in the food and beverage industry, including restaurants, cafes, and catering services.
• Logistics License: It is designed for companies involved in logistics and supply chain management activities.
• Technology License: It is meant for companies engaged in technology-related activities, including software development, IT services, and innovation.

Almost all types of business here in Dubai can get the IFZA Freezone Dubai license after setting up a business here. If you have any doubt about your business setup and want help, then Star Storm is here to help you.

 

5.    Prepare the Required Documents for IFZA Dubai

        Collect all the necessary documents that may include the following:

• Passport copies of shareholders and directors
• Visa page copies for non-resident shareholders
• Proof of address (utility bill, lease agreement, etc.).
• Business plan
• Specimen signature
• NOC (No Objection Certificate) from current sponsor (for UAE residents)

6.    Submit Application

Complete the application form and submit it along with the required documents to IFZA. This can typically be done online through the IFZA portal. The procedure for submitting an application to set up a company in the International Free Zone Authority (IFZA) involves several steps. Keep in mind that specific requirements and procedures may evolve, so it is essential to check with IFZA directly or consult with a business advisor such as Start Storm in Dubai for the most up-to-date information. 

7.    Payment of Fees : IFZA Company Setup Cost in Dubai

Pay the required registration and license fees. IFZA will provide you with a payment schedule. The following table describes the cost of a company license based on the visa quota.

LICENSE PACKAGES (1 YEAR LICENSE) Standard Fee

Zero Visa – Commercial License	AED 12,900
License with 1 Visa Quota	AED 14,900
License with 2 Visa Quota	AED 16,900
License with 3 Visa Quota	AED 18,900
License with 4 Visa Quota	AED 20,900

 

IFZA Freezone Company Establishment Card & Visa Fees

 

Establishment Card (1 years)	AED 2,000
Resident Visa (2 years)	AED 3,750
Medical test	AED 870
Emirates ID	AED 370
Medical Insurance Fee	AED 992

 

8.    Sign the Legal Documents

The specific legal documents required for setting up a company in IFZA in Dubai may vary based on the type of business structure chosen:

Documents Required for IFZA Freezone Company in Dubai

 (e.g., Free Zone Limited Liability Company – FZ-LLC, Branch) and other factors. However, here are some common legal documents that are typically involved in the company formation process:

• Memorandum of Association (MOA)
• Articles of Association (AOA)
• License Agreement
• Lease Agreement for Office Space
• Shareholder Agreements (if applicable)
• Board Resolution
• Power of Attorney (if applicable)
• Various IFZA Application Forms

9.    Receive License

After completing all formalities and payments, you will receive your business license from IFZA. Keep that in mind that getting a IFZA free zone license here in Dubai will take 3-5 days to complete. 

10.    Visa Process (if required)

If you need visas for yourself or your employees, you can initiate the visa application process through IFZA. It is an optional process and you can only apply for a Visa through IFZA Dubai if you need for any of the reasons. So, if you are going to set up the IFZA free zone company then visas can be processed as per your requirements.

11. Operational Setup For IFZA Freezone Dubai

Once you have your license and visas, you can start setting up your office space, hiring staff, and commencing business operations.

Always consult with a professional advisor or business consultant such as Star Storm in Dubai to ensure compliance with the latest regulations and to receive personalized guidance for your specific business situation.

Get Best Consultant For IFZA Freezone Business Setup Dubai

This was a general guide for the Freezone company setup with the help of IFZA Dubai. Star storm is here to help you the setup a IFZA Dubai freezone business.