Business Setup in International Free Zone Authority (IFZA)

 

The International Free Zone Authority (IFZA) has positioned itself among the major investment hubs in the UAE. IFZA is strategically located adjacent to the Port of Fujairah and offers a customized approach as well as international service standards at cost-effective solutions.

Fujairah is the only emirate that lies on the eastern side of the UAE, along the Gulf of Oman and the Indian Ocean, while the other six emirates are along the Arabian Gulf. Since the IFZA is placed in the heart of Fujairah, all the Arabian Gulf Ports and the markets of Iran, India, and Pakistan are easily accessible.

IFZA is considered one of the best locations to set up a business in UAE given its advantages like the strategic location that enables access to the world's major shipping routes, port, and airport. Quick, easy and streamlined procedures for company formation are an added attraction.

 

 

 

 

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Modern Architectural Designs & Best-in-class Infrastructure Facilities at IFZA

  • Offices, warehouses, residential apartments, hotel, and shops retail facilities are the major attractions at the IFZA Fujairah. All of this comes with the following facilities:
  • IFZA offers modern office solutions, tailored specifically to the requirements of the various businesses. The entrepreneurs get shared office space, private and executive offices. The offices come with European design, modern, open interiors with ample natural light, flexible usage options, and flexible rental duration, and 24/7 access.
  • The warehouses are offered at various sizes with flexible rental duration and 24/7 access. The retail facilities are attraction due to large storefronts, easy access, and high-quality common areas and full-time security.
  • A wide range of modern residential options is also available at the IFZA that boasts of high-level interior design, and modern, European style.

Different Types of Licenses Offered to Form a Company at IFZA

IFZA offers a multitude of licenses to both local and international businesses. The variety of licenses offered by the IFZA caters to the needs of both small and big-sized companies who plan to set up a business in the UAE

  • Consultancy License

IFZA offers Consultancy License for business professionals who deliver expert and professional consultancy services across all industries.

  • Service License

With the Service License offered by the IFZA, service providers can get hold of production, re-production, transformation, and distribution of services. For the service license, rendering of services must be the prime objective and goods associated with it must be utilized for delivering those services.

  • Trading License

IFZA issues Trading License to authorize the import, export, distribution and storing of items specified on the license.

  • General Trading License

With a General Trading License, business people get the freedom to trade in a wide range of activities and give the flexibility to trade in any commodity which is permitted within the UAE.

  • Industrial License

Business owners with an Industrial License can import raw materials and they qualify for the process of production, re-production, and manufacture, package the specified products and finally export.

  • Holding License

The Holding License issued by the IFZA allows holding standalone assets and/or shares in other companies. Holding companies commonly hold a controlling ownership interest in other companies and entities, property & real estate, stocks, assets, trademarks, and patents. Such companies typically hold equity interests or assets.

Benefits of Setting up A Business in IFZA

UAE offers many advantages over other countries as far as establishing a business is concerned. However, entrepreneurs are likely to consider multiple factors including the cost factor, facilities, and smooth procedures while zeroing in on a particular location to form their company. Starting a business in the International Free Zone Authority (IFZA) come with many advantages. IFZA offers the following benefits if you opt for the registration of the company in the free zone:

  • Cost-effective company incorporation solutions
  • Fast & easy business incorporation and company management
  • Consultancy, Service and Trading options
  • 100% foreign ownership
  • The physical presence of business owners not mandatory during the company incorporation process
  • Companies have limited liability
  • 100% exemption from corporate and income taxes
  • Zero foreign currency restrictions
  • Full repatriation of company profits and capital
  • Low set-up costs
  • No physical office requirements
  • No share capital requirement
  • Ability to incorporate holding companies

How to Register a Company in the International Free Zone Authority (IFZA)?

The process of setting up a business in IFZA Fujairah can be considered as a straight-forward process. Most of the process of company formation can be done online and the business owner is not required to be physically present at the time of company registration. A business owner needs to ensure that all the required documents are submitted and the officials may take 2-3 working days to officially register the company. Following are the steps in forming a company at IFZA:

Following are the steps in forming a company at IFZA:

  • Name Approval:

Secure an initial approval for name and activity from the free zone authority. Keep in mind that the name should not bear any similarity with the name of an already existing company

  • Approval from concerned Government Department

Get approval from concerned Ministry/Government Department if a business activity is considered as of exclusive nature such as food trading etc.

  • Memorandum of Association

After securing the approval, Memorandum of Association (MOA) of a company needs to be drafted.

  • Submission of the Application

Next step is to submit the company incorporation form and initial approval along with the signed copy of Memorandum of Association and Article of association and other KYC documents to IFZA. Meanwhile, a business owner can apply for company visa if needed

  • Final Inspection by the Authority

The concerned legal department will perform scrutiny and the name of the company will be entered in the Commercial Register of the free zone

  • Issuance of Company Incorporation Documents

The authority will finally issue Certificate of incorporation, trade license, Memorandum of Association, Article of Association, share certificate, lease and service agreement and establishment card.

Why Choose Jitendra Business Consultants?

UAE is a hub of the free zones, choosing a right free zone is denting task for the investors. Jitendra Business Consultants (JBC) helps investors to choose the right free zone , complete the incorporation formalities and liaise with free zone authorities thus saving the time of the investors who in turn can focus on their business.  Being new to the region it's hard for the foreign investors to be completely aware of the local laws and regulations.

Jitendra Business Consultants has a dedicated team of legal consultants to help foreign and local investors in forming a company in UAE free zones. The consultants provide you all the essential information and manage the process on your behalf from initial approval to the issuance of the trade license, that gives you a chance to focus more on your business goals & strategy especially for the early days of your company birth.

 

 

 

 

 

 

 

 

If you need further assistance or you have any questions, please contact us at:
Email: legal@jitendragroup.ae
Tel: +971 4 343 8022