This article highlights how you can incorporate a company via the International Free Zone Authority (IFZA) located in Fujairah, United Arab Emirates.
A Competitive Free Zone
As a new free zone in the Emirate of Fujairah, IFZA aspires to leapfrog the two long-established local competitors, Fujairah Creative City and Fujairah Free Zone. One of the key aspects of how it plans to stand out is the speed of incorporation, and the wide scope of business activities covered via the type of licenses it issues.
Benefits of Incorporating in IFZA
The free zone is undergoing a phase of massive investment. The jurisdiction aspires to offer world-class warehousing, retail, business centre facilities, residential apartments, and hotel facilities. All of these will be in proximity to Fujairah Port as well as Fujairah International Airport. These excellent facilities and amenities will be provided at a fraction of the cost of competing jurisdictions in Dubai and Abu Dhabi. Also, the free zone is committed to a sustainable future by transitioning to all renewable energy resources and green suppliers.
The free zone stands out by requiring no NOC for any investors already residing in the UAE. It has offices in Dubai, which makes it possible to incorporate your company without having to go to Fujairah. IFZA also offers the ability to incorporate without having all company shareholders physically present in the UAE.
IFZA is committed to making the customer experience as stress-free as possible by removing as many of the common bureaucratic hurdles. The incorporation process starts by contacting them online. A customer service representative will reach out to you to get information on your proposed business.
If you have all the required documents to incorporate, you can have your company up and running in less then a week. You also can get space in their business centre at a very reasonable price if you don’t need a full-time office to operate your business.
Types of Licenses Offered by IFZA
- Holding license: a license that permits the holding of assets in other entities; this includes things such as property, trademarks, and patents.
- Service license: a license that permits the rendering of professional services.
- Consultancy license: a license that permits the license holder to provide expert and professional consultancy services across a variety of industries.
- Trading license: a license that allows for the import, export of items specified on the license.
- General Trading license: under this license, a company can trade a wide range of commodities. Some restrictions apply.
- Industrial license: a license that allows for production, re-production, manufacture, packaging, and export of products.
Documents Required to incorporate at IFZA
- Application form – including a list of proposed company names.
- Passport copies for all shareholders.
- UAE residence visa (if available) or entry stamp (if applicable).
- If a company, instead of an individual holds the shares, the company documentation needs to be notarized and attested. If a foreign company is the parent company, you will need to have the company documents legally translated to Arabic and then attested by the home government, UAE Embassy and UAE Ministry of Foreign Affairs.
A Rare Opportunity for Early Movers
As the free zone is new, investors seeking to acquire land and build their facilities may receive special rates. These investments can yield substantial long-term profit as evidenced by similar jurisdictions in other Emirates. We can reach out to the free zone on your behalf to negotiate a deal for you if you are interested.
Take that Decisive Action to Start your Business Today
While you may reach out to the free zone directly to start your business, we have a team of seasoned professionals who can help you navigate the process. Our free consultation will help you create a business plan for the launch and the long-term success of your business.
Leave a reply