How to Set up a Company in Dubai Freezone (IFZA)

Introduction to UAE Transformation

Over the last 60 years, the UAE has evolved into one of the world's most prominent and leading business hubs. Following the discovery of oil in 1962, the UAE shifted from a traditional business mindset centered around fishing and pearling to a more dynamic and modern outlook. This transformation has led to significant investments in infrastructure, communication, technology, and tourism.

This progressive environment has fostered a diverse community of business professionals and entrepreneurs. The UAE's "Freezones" offer economically friendly locations with lenient tax implications, simplified registration processes, and supportive governance structures.

Dubai and Freezones

Dubai, one of the 7 Emirates of the UAE, is home to over 15 Freezones. Overall, the UAE boasts more than 25 Freezones, providing businesses and entrepreneurs with a competitive global platform.

One of the most esteemed Freezone authorities in Dubai is the International Freezone Authority (IFZA). Backed by the government, IFZA supports individuals and corporates in establishing their presence in Dubai, offering a business-friendly environment and allowing 100% foreign ownership.

Why Choose IFZA?

How to Set Up a Company in IFZA Dubai

The Setup Process:

1. Name Check & Approval: Perform a name check with the Dubai Authority to ensure the chosen name is available. Provide 3 names in order of preference. A suffix “FZCO” will be attached to the company name post-incorporation.
2. Selection of Appropriate Activity Code: IFZA offers various activities such as industrial, technology, consultation, and marketing. Select up to 3 activities relevant to the business idea.
3. Drafting, Certifying & Signing of Forms: Complete and certify the application form and required documents, including details about the client, the business, and its structure.
4. Filing the Application with IFZA Authority: Submit the filled application form and documents to the IFZA Authority. The Authority will review and may request additional compliance. Upon acceptance, a quotation for government fees will be provided. After payment and proof of payment (POP), the application will proceed.
5. Receiving Incorporation Documents: Upon successful incorporation, documents such as the Certificate of Incorporation, MoA/AoA, Trade License, and Establishment Card will be issued.

Timeline:

The incorporation process typically takes 3-4 working days upon submission of documents. However, due to the current Covid-19 situation, it may take longer.

Water and Shark Advisory

Water and Shark is a modern advisory firm with a strong foundation in traditional advisory markets. We offer global financial, legal, tax, and structural advisory services. Our expertise includes International Corporate Law, Business Setup Services (Offshore Company Setup), Family Office Structuring, Risk Management, and Business Consultancy. As a registered partner of various Freezone authorities in the UAE, including IFZA, Water and Shark provides a one-stop solution for all business needs.