IFZA Free Zone, Dubai

Uniwide cooperates with various free zones in the UAE and assists in company registration. Below is a profile of IFZA free zone in Dubai

Name and Website

International Free Zone Authority (IFZA); https://ifza.com/

General Information

IFZA is one of the new and popular free zones in Dubai. Established in Fujairah in 2018, the free zone moved its operations to Dubai in 2020. IFZA headquarters is now based in the Dubai Silicon Oasis area.

IFZA provides comfortable conditions for business, contemporary infrastructure, and a friendly regulatory environment. The cost of setting up a company in IFZA will be less compared to many other free zones.

Specialisation

This is a general-purpose free zone suitable for companies in various sectors, including consultancy, service provision, and trade in goods.

Regulator

IFZA companies are registered through the Dubai Silicon Oasis Authority (DSO), under the auspices of which IFZA is currently operating.

DSO, in turn, is under the jurisdiction of the Dubai Integrated Economic Zones Authority (DIEZA), a license-issuing authority for IFZA companies.

Companies’ Regulations

The main company law issues are governed by DIEZA Implementing Regulations 2023.

Types of Licenses
  • Commercial license (allows, among other things, import, export, storage and distribution of goods, as well as a number of related services);
  • General trading license (gives the right to trade in goods through B2B, B2C and other models);
  • Professional license (covers consulting and other professional services in a variety of areas).

One license usually contains up to three business activities (the maximum number of activities within one license is seven).

IFZA issues licenses for one, two, three or five years.

The license fee may vary depending on the number of residence visas the company plans to obtain.

Forms of Companies
  • FZCO (Free Zone Company)
  • PLC (Public Limited Company)
  • Branch of a foreign company
Company Name

The company name should be approved by the Registrar and not infringe intellectual property rights or any other laws of the UAE.

Share Capital

The minimum share capital for FZCO is 1 AED (or the equivalent in a foreign currency).

The issued and allotted share capital of a PLC should be at least 250,000 AED.

Foreign shareholders may own 100% of the company’s shares.

Director

FZCO must have at least one director. Only an individual, including a shareholder, can be a director.

A PLC must have at least two directors, one of whom must be an individual.

Manager

The company is required to have a manager (an individual). The manager’s name will appear in the register of companies and be stated in the license. Any person, including a director, shareholder, or secretary, may be appointed a manager.

Secretary

A company must have a secretary who can be an individual or a legal entity.

Physical Office

IFZA offers diverse options for renting office space depending on the company’s needs — a flexi desk, a dedicated workstation, or a full-fledged office (standard or personalized).

The minimum option (flexi desk) entitles to use the workplace 10 hours a week.

Financial Statements and Audit

A free zone company in IFZA must keep accounting records and prepare audited financial statements annually.

A company must file its audited financial statements with the Registrar of Companies.

Taxation of Profits

An IFZA company that meets the requirements for “qualifying free zone person” can apply a zero corporate tax rate on its “qualifying income”.

Annual Renewal

Starting from the second year of existence, the company pays free zone fees for license renewal and prolongation of the company’s immigration card.

The company’s annual expenses also include office lease renewals, residence visas (as they expire), and corporate service provider fees.

Re-domiciliation

Both inward and outward re-domiciliation is allowed.

A company from another jurisdiction may re-register and continue in IFZA as a free zone company, and an IFZA-registered company may transfer its registration to another jurisdiction.

Company Search

https://ner.economy.ae/Search_By_BN.aspx

The search shows the license number, validity period, registration authority, legal form and list of licensed activities.

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