Dubai has become one of the most attractive places for business globally. With its favorable tax laws, world-class infrastructure, and strategic location, it is no surprise that businesses from across the globe are setting up shops in Dubai. One of Dubai’s most popular free zones is the International Free Zone Authority (IFZA). This article will examine the IFZA license and everything you need to know about it.
IFZA is a free zone in Dubai that was established in 2015. It offers a range of benefits to businesses looking to set up in Dubai, including 100% foreign ownership, 0% corporate and personal income tax, 100% repatriation of capital and profits, and no currency restrictions. IFZA is a popular choice for businesses looking to set up in Dubai due to its strategic location and world-class infrastructure.
Types of IFZA license:
An IFZA license is a legal document that allows a company to operate in IFZA. Three types of permits are available in IFZA: Trading, Service, and Industrial licenses. The type of license required will depend on the nature of the business.
Trading license:
A trading license is required for businesses that import, export, and trade goods specified in the license. The trading license is valid for one year and can be renewed annually.
Service license:
A service license is required for businesses that provide services specified in the license. The service license is valid for one year and can be renewed annually.
Industrial license:
An industrial license is required for businesses that carry out manufacturing, assembling, and other industrial activities. The industrial license is valid for one year and can be renewed annually. If you are considering investing in IFZA, this information will help you make informed decision.
IFZA is a popular choice for businesses looking to set up in Dubai due to its favorable tax laws, world-class infrastructure, and strategic location. An IFZA license is a legal document that allows a company to operate in IFZA. Three types of licenses are available in IFZA: Trading, Service, and Industrial. Obtaining an IFZA license is relatively straightforward, and the processing time is around 5-7 working days.
