There are many differences between a FreeZone company and other forms of business setup in IFZA. Firstly, FreeZone companies are allowed to do business anywhere in the IFZA and outside the IFZA.

Previously foreign investors or entrepreneurs were not allowed to form a business in the IFZA FreeZone with 100% ownership. It was mandatory to have a local sponsor with 51% of company shares allotted to them. This obligation has been revoked as per the new Dubai company law. This allows foreign entrepreneurs to own 100% of their company shares in the Dubai FreeZone.

Another major advantage differentiating FreeZone companies from others is the office space requirement and setup. Physical office space is required to obtain a FreeZone business setup license in IFZA. FreeZone businesses have the advantage of setting up office spaces anywhere that suits them.

FreeZone companies also do not have any restrictions when it comes to visa eligibility. The number of visas issued is directly proportional to the area of workspace/office space that the company has.

IFZA FreeZone companies also have business aids, tax exemptions, and other benefits in compliance with the latest laws.

You must follow the following procedure for FreeZone company formation in IFZA.

Complete the prerequisites for a Local Liability Company (LLC) or Local business startup if you choose to start an LLC.

Business name approval from the Department of Economic Development (DED)

Apply for a business license with the Department of Economic Development.

Enquire about visa eligibility and its requirements

Find a registration consultant as the trusted business solution partner.

The best thing you can do is to avail yourself services of our trusted FreeZone business setup consultants to reduce your burden and fast-forward the process.

Here is the list of documents that you will initially need to apply for FreeZone business setup:

Trade Name (At least Three name choices)

Business Activity

Passport copy of the shareholders.

Entry stamp or Visa page.

Passport size photograph.

There can be added requirements of documents based on the case. Your Consult Zone expert will guide you in case there is an emerging demand.

The latest amendments in IFZA company laws benefit foreign businesses set up on the FreeZone in various ways. The law allows the foreign entrepreneur to have 100% ownership as opposed to the mandatory local sponsor requirement. Another major benefit is the significant tax exemption and government-funded business aid.