IFZA COMPANY FORMATION

The International Free Zone Authority (IFZA) in Dubai Corporate Formation Guide

 

Advantages:

1. 100% foreign ownership is allowed.

2. 100% of capital and profits can be repatriated.

3. 100% duty-free import and export.

4. No local personal income tax (however, personal income tax is subject to taxation in the country of residence under the principle of residence)

5. Safe and business-friendly legal framework

6. Flexibility to upgrade or downgrade IFZA business licenses

7. IFZA licensees can apply for a flexible number of visas, subject to approval by the authorities

8. Residence visas are valid for three years and can be applied for by shareholders and employees.

9. Business network of fast-growing registered companies around the world.

10. Strategically located in Dubai, which provides world-class access to global markets.

11. Convenient access to free trade zone business formation and administrative services.

12. Business licenses are provided through incorporation or establishment of a branch.

13. One IFZA business license can combine professional, commercial and industrial activities.

14. Competitive general trading license is available.

15. Non-face-to-face incorporation is possible.

16. No obligation to pay capital.

17. No NOC (No Objection Certificate) from a visa sponsor is required.

 

Cost: USD22,650

 

Included:

1. Business license

2. Lease agreement

3. Additional costs related to visa application and acquisition for two people (including IFZA Establishment Card, medical test, and Emirates ID)

4. Status change

5. Business address (1 year)

6. KYC/CDD, business-related consultation and follow-up

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Requirements and required documents for incorporation:

1. Copy of shareholder/director's passport

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2. Original verification of the shareholder/director's passport copy

- Korean passport: English passport copy certificate (issued by the district office) ( Sample )

- Passport of other countries: Certified True Copy or Notarial Certificate ( Sample )

 

3. Two types of recent (within three months) English address verification documents of the shareholder/director (addresses must be the same)

- Residence in Korea: English translation of resident registration (residential center) + scan of the front and back of the driver's license (view sample)

- Residence in other countries: Utility bill + bank statement (or equivalent official document) (view sample)

4. Fill out the application form for incorporation

*If you wish to open an account after incorporation, please contact us in advance.

 

Procedure:

1. Submit the required documents of the shareholder/director to be registered.

2. Pay the incorporation fee.

3. Confirm the availability of the corporate name and finalize it.

4. Sign and submit the incorporation documents prepared by CJ.

5. Receive the documents and proceed with the incorporation.

6. Complete the incorporation.

7. Issue a visa and Emirates ID (requires a visit to the local office).

8. Open a bank account (requires a visit to the local office).

 

*As the medical test must be conducted locally before the issuance of the Emirates ID, you will need to stay for about one to two weeks. You can schedule a meeting to open a bank account at that time.