About International Free Zone Authority (IFZA)
Fujairah is unique amongst other Emirates in the UAE in that its entire coastline is located on the east side of the Musandam Peninsula facing the Gulf of Oman. Since the opening of its new container port in the early 1980s, the city of Fujairah has become a major transhipment point. The Port of Fujairah has a strategic location as it is connected to all the emirates within 300 km. It offers comprehensive facilities for a wide range of requirements such as general and bulk cargo including oil.
Fujairah also hosts an international airport, which is located near the city centre. Fujairah International Airport can handle all types of special cargo. The capability ranges from dangerous goods, livestock and perishable goods. Businesses trading in the city greatly prize this versatility.
IFZA is the latest addition to the vibrant free zone scene in Fujairah. The two other long-established free zones, Creative City and Fujairah Free Zone managed to attract investments to Fujairah from around the world due to the city’s competitive costs, simplified bureaucracy and access to world-class logistics infrastructure. IFZA is poised to challenge both jurisdictions by streamlining business processes and through some of the most competitive costs in the UAE.
IFZA retains a business development office in Dubai. You have the flexibility to conduct the bulk of your company ongoing administrative functions via their Dubai office or online.
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It’s important to remember that since the free zone is new, many of its facilities such as warehouses, residential and commercial spaces are still under construction. However, this has not dissuaded entrepreneurs who wish to operate remotely or can use the hot desk facilities at the free zone.
For clients that engage in the import and export of products, IFZA is an attractive option as it offers the most affordable General Trading license in the United Arab Emirates. As with other free zones, you can use any of the free zone ports to engage in trading of goods internationally. Other licenses such as consultancy, service, commercial trading, industrial and holding licenses are also very competitive.
As a new Freezone, IFZA has the least red tape in comparison to other jurisdictions. Investors can register a company and obtain a license without setting foot in the UAE. They also don’t require any share capital deposit letters nor any NOCs from sponsors if you have a UAE residence visa.
TYPES OF LICENSES:
The International Free Zone Authority company can operate under these types of licenses:
Documents Required to Start a company in IFZA
As the free zone is new and requirement can change, we request that you check with us before you prepare your documentation for submission.
- Application form – includes a list of proposed company names;
- Passport of all shareholders;
- UAE residence visa (if available);
- If a company, instead of an individual holds the shares, the company documentation needs to be notarized and attested. If a foreign company holds them, you will need to have them legally translated to Arabic and then attested by the home government, UAE Embassy and UAE Ministry of Foreign Affairs.
Timeframe for IFZA License
Most licenses in this free zone are issued within 2 business days. The free zone prides itself on its speed and ease of business. Fujairah immigration visas tend to take longer then Dubai visas, therefore please make sure to factor this. To get a precise timeframe on your business license, please speak to one of our consultants.