The International Free Zone Authority is located in Dubai’s Silicon Oasis area. IFZA is one of the most cost-effective and entrepreneur-friendly options. Anyone can set up their business in the UAE due to the benefits it offers. IFZA has gained recognition as a hub for startups and is originally founded in Fujairah. Better choice for SMEs, and foreign investors looking to establish a presence in Dubai’s business ecosystem.
IFZA offers a variety of company license packages. Those solutions are tailored to meet the needs of business owners. A consultancy start-up, trading, or service business, IFZA provides flexibility and support. That everyone needed to get their venture off the ground at a competitive cost.
What is an IFZA Free Zone License?
An IFZA license is a permit issued by the International Free Zone Authority. It allows businesses to operate within this dynamic free zone. This license ensures access to a range of business-friendly advantages, such as:
- Zero corporate tax
- 100% foreign ownership, and
- Full profit repatriation.
Cost of an IFZA License
The IFZA license cost depends on several factors, including the license type you require. It also contains the number of visas associated with your business. A detailed breakdown of the pricing has been discussed:
- Zero Visa Package (No visa required)
A zero visa is ideal for business owners who already hold a UAE residence visa. They are the ones who do not require a visa. For instance, the package starts at AED 11,500. Perfect solution for those who don’t need a bank account or physical office presence in the UAE. - 1 Visa Package
This license is best suited for entrepreneurs. Especially those who require a UAE residence visa but do not need a bank account. Its package starts at AED 23,150. It offers a cost-effective option for establishing a physical presence in Dubai. - 1-Year Business License with 0 Visas
A 1-year business license is when your business doesn’t need visas. For this, the package starts at AED 13,900. An ideal option for companies looking to operate within the free zone. They don’t need additional administrative costs. - 3-Year IFZA Business License
Best for businesses aiming for long-term stability. However, this package ranges between AED 43,700 and AED 65,000. Businesses can benefit from reduced renewal fees over three years. This license type comes with the advantage of a longer commitment.
Types of Licenses in IFZA Free Zone
IFZA offers a variety of licenses, each catering to different business models:
- Consultancy License:
Ideal for businesses offering professional consultancy services in various fields.
- Service License:
Suited for companies in the service industry, including
—> IT
—> Marketing
—> Logistics, and
—> More.
- Trading License:
A trading license is for companies engaging in goods buying and selling within the UAE and internationally.
- General Trading License:
A more flexible license that allows businesses to trade a broader range of goods.
- Industrial License:
Designed for manufacturing companies involved in producing, reproducing, or packaging products.
- Holding License:
Perfect for businesses that wish to hold shares or assets in other companies.
IFZA License Cost Breakdown
IFZA offers affordable pricing starting from AED 12,900 for a zero-visa package that includes company registration and up to three business activities under one license. Prices increase as the number of visas required increases. Here’s the breakdown:
- Zero Visa Package: AED 12,900 (registration and up to three business activities)
- 1 Visa Package: AED 14,900
- 2 Visa Package: AED 16,900
- 3 Visa Package: AED 18,900
- 4 Visa Package: AED 20,900
Additional Costs
There are other fees associated with setting up a business in IFZA in addition to the license cost:
- Establishment Card: It costs AED 2,000 for the first year. However, AED 2,200 charged for its renewal
- Residence Visa: For residence visa, AED 3,750 per applicant costed
- Medical Checkup: AED 450 (regular process), AED 850 (VIP process)
- Emirates ID: AED 390 per application
Key Benefits of IFZA Free Zone
IFZA is a popular choice for Dubai business setup. There are several reasons of it. Explore what are those:
- Cost-Effective Setup:
IFZA offers competitive pricing for licenses and visa packages. This makes it an affordable for startups and small businesses.
- 100% Foreign Ownership:
Entrepreneurs can fully own their businesses. They don’t even need for a local sponsor. It is a huge benefit for international investors.
- Tax Benefits:
IFZA offers attractive tax incentives. These are zero corporate and personal income taxes. It allows businesses to retain more profits.
- Business Flexibility:
IFZA allows companies to operate multiple activities under one license. This makes it easier to diversify as your business grows.
- Access to Global Markets:
Dubai IFZA’s strategic location provides businesses accessibility to regional and international markets.
Why Choose IFZA for Your Business?
IFZA offers a streamlined and cost-effective solution. An ideal business setup for entrepreneurs to expand their operations in the UAE. Discover the main benefits of setting up a business in IFZA:
- Quick Setup:
The business registration process takes between 3-5 business days. It enables entrepreneurs to start their operations quickly.
- Remote Setup:
You don’t need to be physically present in the UAE to set up your company. A great convenient for international investors.
- Full Ownership and Profit Repatriation:
IFZA guarantees 100% foreign ownership. It allows businesses to transfer all profits back to their home countries.
- Support Services:
IFZA assists with:
- Legal
- Financial, and
- Administrative tasks
It ensures a smooth IFZA business setup process.
How to Set Up a Business in IFZA
The process of setting up your business in IFZA is designed to be simple and efficient:
- Choose Your Business Activity and License Type:
Select the type of license based on your business needs, such as:
- Consultancy
- Trading, or
- Service.
- Prepare Required Documents:
Submit necessary documents like passport copies, address confirmation, and proof of business activity.
- Company Registration:
Receive your Trade License and Certificate of Incorporation once your documents are reviewed.
- Apply for Visas:
If needed, apply for residence visas for yourself and your team.
- Open a Bank Account:
After obtaining your visa, you can open a corporate bank account with the assistance of IFZA’s banking partners.
Office Space and Additional Considerations
While the initial license cost is affordable, consider the additional costs for office space, which is required for certain business activities. IFZA offers flexible office solutions, ranging from flexi-desks to dedicated offices and private offices to suit different business needs.
Office rental prices in IFZA start from AED 18,240 per year, and the packages include high-speed internet, furniture, electricity, and access to meeting rooms.
Final Thoughts
In conclusion, IFZA presents a cost-effective and flexible option for entrepreneurs. They can easily set up a business in Dubai’s free zone. IFZA is a great choice as it offers several benefits. Ranging from licensing packages, and visa options, to office spaces. Not only this, businesses can enjoy 100% ownership and tax advantages.
IFZA offers everything to launch and grow your business in the UAE. So if you’re a consultant, trader, or service provider, don’t think much just plan and begin your journey. You can also get assistance from experts. At Connect Free Zone, we have dealt with similar scenarios of setting up business for our clients in the UAE. Starting your business in IFZA is a simple, affordable process if you get along with us. Our team plans and executes efficiently. Be ready for a smart entry into the UAE market with foolproof results. Get insights on your ifza license cost with additional charges. Unlock a world of opportunities waiting for you!
