The International Free Zone Authority (IFZA) is a popular location for businesses looking to establish a presence in the United Arab Emirates (UAE). There are several benefits to company setup in IFZA, including 100% foreign ownership, 100% repatriation of capital and profits, and exemptions from corporate and personal income taxes. Additionally, the IFZA offers a range of services and facilities to support businesses, making it an attractive option for companies of all sizes.
Choose the type of business entity that best suits your needs:
The first step in setting up a business in IFZA is to choose the type of business entity that best suits your needs. The most common types of business entities in IFZA include free zone companies, free zone establishments, and branches of foreign companies. Free zone companies and free zone establishments are independent legal entities, while branches of foreign companies are extensions of existing businesses.
Select a business activity:
Once you have chosen the type of business entity, you will need to select a business activity. IFZA offers a wide range of activities, including trading, manufacturing, consulting, and professional services. Selecting an activity that aligns with your business goals and objectives is important.
Submit an application for registration with IFZA:
Next, you will need to submit an application for registration with IFZA. The application process is relatively straightforward and typically involves submitting the necessary documents, such as a business plan, passport copies, and proof of address. You will also need to pay the relevant fees, which vary depending on the business entity and activity type.
Lease or purchase a physical space in IFZA:
Once your application has been approved, you will need to lease or purchase a physical space in IFZA. Various options are available, including office spaces, warehouses, and land. It is important to choose a location accessible for your employees and clients that meet your specific business needs.
Obtain the necessary licenses and permits:
After you have secured a physical space, you will need to obtain the necessary licenses and permits. This will typically involve obtaining a trade license, which allows you to conduct business activities and any additional licenses required for your specific activity.
Establish a corporate bank account:
The final step in setting up a business in IFZA is establishing a corporate bank account. This will typically involve submitting the necessary documents, such as the trade license and passport copies, and paying the relevant fees.