IFZA (International Free Zone Authority)

IFZA Dubai offers licences based on range of scalable business creation solutions covering over 2 000 professional, commercial and industrial activities.

Setting up companies in the FEZ entails the possibility of obtaining residence visas for The setting up of companies in the LEZ entails obtaining residence visas for members / employees and their families - a definite plus.

To register a company in IFZA Free Zone, the following steps are required:

1. Define a company name to check for uniqueness (at least 3 variants):

• must be in English;
• must not be identical or similar to an existing company name;
• must not contradict UAE public policy;
• must end with an indication of the legal form ("FZC").

2. Determine the structure of the company (director, manager, secretary, shareholder, solicitor).

3. Define the type of license.

In the IFZA-Dubai, companies can obtain The following types of licenses can be obtained:

• Commercial licence - allows the holder to trade in goods, including import, storage, warehousing, delivery and export of permitted goods.
• Professional licence - allows the holder to provide the type of services specified in the licence (e.g. business consultancy, marketing consultancy, insurance, etc.).
• Manufacturing licence - allows the holder to conduct activities related to the production of goods, including importing raw materials, processing, manufacturing, assembling, packaging and exporting finished goods.

Some licenses require the approval of the relevant regulator.

4. Pay for the services.

5. Documents for directors / managers / secretaries / shareholders / attorneys must be submitted:

• colour copy of domestic passport with registration page;
• colour copy of foreign passport;
• proof of address (if no registration stamp in domestic passport);copy of visa/stamp of entry to UAE;
• scanned copy of 3,5 x 4,5 photo on white background (hair must not cover face, no jewellery or accessories).

6. Prepare and submit a set of documents for company registration, sign the documents with the officers and shareholders of the company.

7. Receive the registration documents and stamp.

Upon registration, the FEZ Administration will issue the following documents:

• Company registration certificate;
• Articles of Association;
• Share certificates;
• Business licence (generally issued for 1 year);
• Registers of directors and shareholders;
• Lease agreement.

A seal of the company is also issued.

0The total term of the company registration in IFZA Free Zone is on the average 15 working days.

Upon registration, an office rental agreement is executed between the company and the BMS administration; the address of such an office is considered to be the official legal address of the company.

IFZA offers various office packages depending on the needs of the clients in terms of types and number of licenses, number of visas, need for actual presence and accommodation in the BMS: from flexi desk and flexi office (being a separate room or a cell in an open-space in first class business centres) to warehouses and plots of land.

Companies are required to have a seal.

Redomiciliation of companies to and from the UAE is permitted.

Only a natural person may act as a director. There are no residency requirements for directors.

The minimum number of directors is 1.

Only a natural person can act as a manager. There is no residency requirement for a manager.

The number of managers is only 1.

Individuals and legal entities are allowed and there are no residency requirements.

The minimum number of shareholders is 1, the maximum number is 50.

Information on shareholders is not publicly available.

Although many jurisdictions are discussing the creation of a public register of beneficial owners, the UAE does not yet have one. This means that there is no public access to beneficial owner information. It is held by the registration agent. Beneficiary information can only be disclosed to regulators (e.g. during inspections for its availability) or by court order.

There is no minimum share capital requirement in the IFZA.