A Comprehensive Guide to Company Formation and Liquidation in IFZA Freezone

Dubai is one of the world’s most prestigious investment destinations, which is the International Free Zone Authority (IFZA). It offers custom-designed business formation packages to marketers. Additionally, you’ll enjoy top-of-the-line amenities. IFZA provides low-cost company set-up packages and international standards of service.

If you are an investor, you’ll pick this firm to set up the foundation of a free zone business, as it has been their preferred choice. To accommodate the numerous demands of investors’ businesses, IFZA Dubai provides captivating business license packages. If you are looking for zero Visa Quotas, the company’s setup fee in IFZA is just AED 12,900. That means entrepreneurs can start their businesses within IFZA with a minimal expenditure of AED 43,470 for a three-year business license. If you consider the total cost of creating a company in IFZA, it is the most affordable opportunity in Dubai.

The IFZA Free Zone is an attractive destination for foreign investors due to benefits such as

100% foreign ownership
100% profit repatriation,
Infrastructure and many other advantages.

Establishing a Business in Dubai IFZA

The IFZA Free Zone provides offices and warehouses, residential areas, restaurants, shops, and other facilities. Small, local, and international enterprises can choose from a variety of licensing options (Consulting License, Services License, Trade License, General Trading License, Industrial License, and Holding License).

IFZA company setup is a simple process. But selecting an IFZA approved auditor can help you avoid legal problems and set up your company efficiently. The team of experts will assist and guide you through the business establishment process.

Step-by-step procedure for establishing an IFZA-registered company.

Follow these easy steps, and you’ll be granted your IFZA corporate license.

Select a job and then reserve a business name for your company.
Select the package for business permits (flexible office, shared office, private office) and visa type appropriate for your business model.
Submit a request, get a review and pay.
You must obtain a business license or apply for a resident visa.
A bank account, personalized registrations, etc.

Contact best consultants to schedule an appointment with one of their experts in law and business consultants to assist with a variety of Freezone packages for corporate clients’ prices, permit costs, and visa information.

Different Types of Licenses IFZA Free zones

The following are the most popular commercial license types offered in the IFZA.

Counselling License: Provides professional consulting services.
Service License Service: License permission to create copies, modify, copy, and disseminate the services.
Business License: Permits the holder of the license to trade the items that are listed within the license for business.
General Trading License: The General Trading License permits the holder of a license to trade in a variety of items.
Industrial License: Industrial License Authorization is required to import raw materials for packaging and printing for export.
Holding Licence Holding License: A permit to store the assets and shares of another corporation.

What makes IFZA a unique Free Zone?

IFZA, also known as the International Free Zone Authority, offers a variety of features that make it a desirable option for companies seeking to establish a presence within the United Arab Emirates (UAE). Here are a few of the main benefits of IFZA Free Zones:

Strategic Placement: IFZA UAE is strategically situated in the heart of UAE and provides organizations with simple access to global markets and an enlightened transportation network.
Wide Variety of business activities: IFZA provides a wide range of enterprise sports commercial companies that can participate in selling and buying, consultancy manufacturing, e-commerce, and much more.
Completely Foreign Owned: One of the best features unique to IFZA is that it allows 100 percent ownership overseas of groups. This ensures that worldwide traders have complete control of their businesses without the requirement of an immediate sponsor.
Tax Advantages: IFZA offers attractive tax benefits to organizations. Businesses that operate in IFZA can be exempt from personal and corporate earnings taxes, export and import taxes, and capital gains tax. This is a huge boost to firms’ efficiency and competitiveness.
Easy company setup: Establishing your business in IFZA is an efficient process. It offers a user-friendly online platform where businesses can complete registration and licensing processes quickly and without any hassle.
Facilities: IFZA boasts modern infrastructure and centres of international standard, including workplace spaces, warehouses and logistic centres. The facilities are designed to meet the exact needs of various industries.

What makes IFZA best among others?

What distinguishes IFZA from other free zones in the UAE is its focus on industries that are driven by innovation. IFZA is a significant focus on assisting groups in areas that include technology, e-commerce, blockchain, artificial intelligence, and much more. This approach is forward-looking and places IFZA as a centre for contemporary industries, attracting businesses that can be at the forefront of technological advances.

Additionally, IFZA offers competitive pricing and offers tailored to the exact requirements of the business. The free zone also provides legal, commercial, administrative, and business consultant services, which help businesses along the way.

Company Liquidation in IFZA

IFZA stands for International Free Zone Authority, a desirable area inside the United Arab Emirates (UAE) that offers a wide variety of opportunities for agency corporations and marketers. However, there are circumstances in which a company operating within IFZA must go through the process of liquidation. Liquidation is the legal way of ending the business’s affairs and disbursing its assets to creditors and shareholders.

Step-By-Step Method of Company Closing in IFZA

The step-by-step liquidation method used in IFZA contains several vital steps.

First, the business needs to find a liquidator who supervises the entire system. The liquidator could include an individual or a skilled company that provides information about an organization’s liquidation.
The next step is to call a meeting of the business’s shareholders to approve a resolution governing the liquidation of the business. If the resolution is passed, it must be presented to the IFZA authorities for approval.
Once he has received approval from IFZA, the liquidator must follow the essential formalities of a felony. This includes informing all shareholders, lenders, and other relevant parties regarding this liquidation procedure. The liquidator could even put an announcement in a local paper to inform creditors of any potential.
The liquidator then will perform an extensive review of the company’s financial records and assets. They will prepare an accounting statement, which will include a complete listing of the business’s assets, liabilities, and outstanding debts. The statement could be sent for review by IFZA authorities for assessment.
After the statement of accounts is accepted, the liquidator will proceed with determining the value of the company’s assets. This includes selling the business’s assets, settling any debts, and distributing any remaining budget to shareholders in accordance with their rights.

What can ebs Chartered Accountants can do to help you?

With a solid group of consultants, ebs Chartered Accountants are among the most reputable business services of IFZA.

ebs Chartered Accountants can assist with your documentation processes as well as legal compliances and government clearances to successfully register your business in the UAE.

Their services are specifically tailored to meet your specific legal and administrative needs.
The team at ebs disposal will take care of all aspects of company establishment and closing the company within IFZA, beginning with document preparations and continuing until the closing certification is obtained.

Contact ebs team immediately to receive the best services available in IFZA.