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What documents you need to open a Corporate Bank Account

How Long Does It Take to Register a Company With IFZA?

Fortunately, the answer is relatively straightforward – at IFZA Free Zone, it usually takes 3-5 days to complete all the necessary paperwork and get your business up and running. However, this is subject to CID passport check approval.

Hassle Free Corporate Banking Experience

What Types of Licenses Does IFZA Dubai Offer?

Here’s a list of business licenses you can apply for at IFZA Dubai:

    Businesses provide professional consultancy and multiple services, such as technical, lifestyle, and similar services.
    Authorizes the import, export, distribution & storage of specified items.
    Foreign incorporated companies may also register a branch at IFZA Dubai
What Are the Types of Offices Available At IFZA Dubai

What Are the Types of Offices Available At IFZA Dubai?

At IFZA Dubai, you can find various office space options to suit different business needs.

Here are the types of offices available:

    This is the perfect type of office for a startup entrepreneur. Flexi Desk is a shared workstation with 10 hours of access per week, an IFZA address, and one hour of complimentary meeting room use per month.
    If you opt for Flexi Desk+, you will enjoy unlimited access to your dedicated desk, an individual address, five hours of complimentary meeting room use per month, and one parking space.
    Dedicated workspaces offer unlimited access to a dedicated office space in a shared environment, an individual address, five hours of complimentary meeting room use per month, one hour of complimentary conference room use per month, and one parking space.
    For growing businesses, the IFZA private offices provide the perfect solution of unlimited access to your own dedicated office, an individual address, seven hours of complimentary meeting room use per month, two hours of complimentary conference room use per month, and one parking space.
    For businesses that are looking for offices that reflect their brand personality and company size, a personalized office offers unlimited 24/7 access to dedicated, personalized office space, an individual address, seven hours of complimentary meeting room use per month, five hours of complimentary conference room use per month, and two parking spaces.The office options at IFZA Dubai cater to various requirements, enabling businesses to choose a suitable workspace that aligns with their needs and preferences.
How Can I Become an IFZA Partner?

Becoming an IFZA Partner is a straightforward process that involves three simple steps:

  1. Register your interest through our online form or by email.
  2. Request and sign the IFZA-authorized partner agreement.
  3. Submit a copy of your trade license (or its equivalent in your jurisdiction)

Please note that there is no cost associated with becoming an IFZA Partner.

How Do I Apply for IFZA Dubai's Job Offers?

If you’re looking for a work environment that fosters collaboration and a team-oriented culture, IFZA Dubai is the ideal place for you. Explore our career opportunities and learn more about IFZA here: IFZA Careers.


What Does IFZA Academy Offer?

IFZA Academy offers soft skills and professional development courses to develop communication skills, learn the basics of leadership, enhance emotional intelligence, acquire project management and customer service skills, and more.

Our long-term vision is to create a continuous learning and development culture, ensuring mutual success for IFZA Dubai and its professional partners.

As one of the key pillars that strengthen IFZA’s Business to Business (B2B) model, we have supported the growth of over 1500 professional partners in the past few years.

What are IFZA Dubai's Office Hours

What are IFZA Dubai's Office Hours?

IFZA’s office hours are as follows:

Monday – Friday: 8.30 AM to 8.00 PM
Sunday: 10.00 AM to 4.00 PM

Monday – Friday: 8.30 AM to 8.00 PM
Sunday: 10.00 AM to 4.00 PM

Please note that these office hours are subject to change depending on the public holidays. Feel free to contact us here.


What Are the Types of Business Licenses Available in the UAE?

There are several types of business licenses available in the UAE. IFZA Dubai provides a range of license options to cater to various requirements, accommodating both small local ventures and large international businesses.

This includes Professional License, Commercial License or Branch. These different types of business licenses provide flexibility and options for entrepreneurs and companies to establish and operate their businesses in the UAE effectively.


How Can I Renew my Business Licence in the UAE?

The renewal process for Dubai trade licenses in an international Free Zone like IFZA Dubai is simple and straightforward: Complete the online form and e-sign the document. Receive the quotation and transfer the payment. Receive your renewed license in 2-3 business days.

What are the documents required for a business license

What are the documents required for a business license?

To obtain a business license in a Dubai Free Zone like IFZA Dubai, the following documents are typically required:

  1. Licence Application Form:
    You need to fill out the license application form provided by IFZA Dubai or the relevant Free Zone. This form collects important information about your business.
  2. Ultimate Beneficial Owner (UBO) Supporting Documents:
    You will need to provide supporting documents related to the Ultimate Beneficial Owner(s) of the company. These documents may include passport copies, proof of address, and relevant identification documents.
  3. Passport Photo:
    You will need to provide a recent passport-sized photograph of the applicant(s) or the designated company representative.
  4. Passport Copy:
    A clear copy of the passport(s) of the applicant(s) or the designated company representative(s) is required.
  5. Emirates ID & Residency Visa Copies:
    If you are already residing in the UAE, you may need to provide copies of your Emirates ID card and residency visa as part of the application process.

It’s important to note that additional documents or requirements may apply depending on the nature of your business activities.


Are There Any Business Name Restrictions in IFZA Dubai or other UAE Free Zones?

Whether you have picked or are still thinking about your business name, there are a few things to consider. Your business name must not contain any indecent language or refer to any political or religious groups, nor can it use Allah’s name or refer to one of his divine attributes. If the business is named after a person, only shareholders’ names can be used; using initials is not allowed. The name must not match the names of previously registered businesses, government entities, or world-renowned companies.

Your business name cannot begin with the words: “international,” “global,” or “Middle East,” nor should it be translated or contain any special characters, e.g., comma (,), slash (/), or “&” is excluded from the special characters rule. Also, the name must be consistent with the nature of the business activity. Here’s a company naming guide to help.


Can I Set Up a Business in Dubai Remotely?

Yes, if you choose IFZA Free Zone for your business setup in Dubai, it can be done remotely. First, our Professional Partners will contact you via email or consult with you at our office. Upon your discussion with them, you will be sent a proposal with details such as the type of license, business activities, visa package, and office solution. 


What Is a Business Activity, And What Kinds of Activities Can I Apply For?

Business activities are those actions companies take to earn profits through sales, investments, manufacturing, and distribution. In the UAE, they are also the basis for selecting the legal form of the business and the type of license that its shareholders need to apply for. 

At IFZA Free Zone, we have two main types of business activities: 

  • Professional – For businesses providing professional consultancy and multiple types of services, for example, technical, lifestyle, and similar types of services.
  • Commercial – For businesses engaged in the import, export, distribution, and storage of specified items.

IFZA offers up to 3 business activities under one license, with options for additional activities. We also offer the flexibility to combine different types of business activities under one license or change business activities at any time.

What is a General Trading License

What is a General Trading License?

A Dubai General Trading License in IFZA Dubai is a specialized business activity that allows you to import, trade, and re-export a range of legally permitted goods – even unrelated ones – under one business licence within the IFZA Free Zone. Trading activities that need special approvals can also be traded under this activity upon obtaining third-party approvals (TPAs) from the related government regulators. 

Unlike regular commercial business activities that only permit the trade of a specific product or range of products, a General Trading License gives you the ability to trade a variety of goods and the flexibility to change the product mix at any time without having to amend your commercial business license. In other words, you could trade almost everything from computers and clothes to paper products and pet supplies.


What Are the Documents Required to Start a Business in Dubai?

Dubai Free Zones have streamlined the entire process of company formation, and this includes simplifying the documents required from business owners who wish to set up a company in the city. At IFZA Free Zone, individual shareholders are only required to submit a passport copy, a passport photo, and a fully accomplished application form. For UAE residents, copies of their Emirates ID and UAE Visa are also required. 

It is important to note that some business activities may have additional requirements.


Can I Start a Business While Being Employed in Dubai?

Free Zones such as IFZA Dubai allow you to start a business while being employed in Dubai. You do not even need to be under the visa of your new company. Thanks to amendments in UAE Laws, a number of Free Zones do not require business owners to submit permissions in the form of No Objection Certificates (NOC) from their current employers or their current visa sponsors.


Do I Have to Be Permanently Based in Dubai To Open A Business There?

It is possible for a person who is a resident of another country to register and own a business in Dubai, depending on the jurisdiction and the company’s approved business activity. Free Zones such as IFZA Dubai allow for a completely remote company formation process. The only time the business owner is required to be physically present in Dubai is for visa-related processes such as the medical fitness test and recording of biometrics.

Do I Need to Have a Physical Office Space to Register a Business

Do I Need to Have a Physical Office Space to Register a Business?

The requirements differ with each jurisdiction. At IFZA Free Zone, physical office space is not mandatory for registered businesses with up to 3 visa allocations.


What Are the Main Advantages of Free Zones Versus the Mainland?

As special economic areas ruled by their own set of regulations unique from the main jurisdiction, Free Zones allow companies to take advantage of unique benefits aimed at attracting more foreign investors to the country.

 Dubai Free Zones, in particular, offer the following advantages:

  • More relaxed commercial laws 
  • 100% foreign ownership of commercial enterprises across all business activities
  • 100% import and export tax exemptions
  • 100% repatriation of capital and profit
  • No personal income taxes.
  • Free Zones such as IFZA have waived mandatory office space requirements for certain classes of licenses.
  • Shareholders’ details remain private from the public.
  • Free Zones offer one-stop-shop solutions for businesses and real support in setting up the company and other processes. 

Additionally, since Free Zones are clustered around specific industries and themes, businesses can take advantage of being surrounded by other businesses that offer similar activities, an existing pool of suppliers, and infrastructure that are unique to their needs.

Here’s a comprehensive guide on company setup in a Dubai Free Zone.


Do I Need to Open A UAE Bank Account to Set Up My Business?

No, it is not mandatory to open a UAE corporate bank account to set up your business. However, having a bank account can provide several benefits: 

  1. It can position your company as an established entity, enhance your credibility with clients and suppliers, and facilitate smoother financial transactions. 
  2. A UAE bank account may be required for certain business activities and can be advantageous when securing contracts or dealing with local partners. 

IFZA offers a comprehensive range of banking support services designed to support the needs of our network of Professional Partners and Licensees. Our banking experts are available at the IFZA headquarters to help you navigate the requirements of setting up a corporate bank account in Dubai.


What Are the Steps to Open a Corporate Business Bank Account in Dubai?

To open a corporate bank account in UAE, it is essential to submit all the necessary legal & corporate documents along with a duly filled application form. The list of important documents required for opening a corporate bank account in UAE includes:

  • Copy of the Emirates ID of the shareholder representative
  • Company trade license
  • Certificate of registration or incorporation
  • Lease Agreement
  • Utility bill
  • Detailed business plan
  • Memorandum and articles of association
  • Board resolution authorizing a company officer to open a bank account
  • Copies of passports of shareholders and authorized signatories
  • Disclosure of the source of funds
  • List of names of at least 5 suppliers and 5 customers
  • Shareholders’ personal bank statements for the last 6 months from their home country or UAE (if applicable)
  • Shareholders’ corporate bank statement (of an existing company) for the last 6 months (if applicable)
  • Certificate of Good Standing After discussing the application process with an advisor or bank branch,

The next step is to complete the application process by submitting all necessary documents with the duly filled application form to the bank officials. The bank will then authenticate every detail and gather background information about the applicant’s management team, shareholders, and directors.

The final step is the applicant’s interview, and once completed, the corporate bank account will be opened. 

IFZA Dubai offers a comprehensive range of banking support services designed to support the needs of our network of Professional Partners and Licensees. Our banking experts are available at the IFZA headquarters, to help you navigate through the requirements of setting up a corporate bank account in Dubai.  View our comprehensive guide on corporate banking in the UAE.

Where Is IFZA Located

Where Is IFZA Located?

We are located within Dubai Digital Park, a project that is 150,000 sqm with a total of 71,000sqm just for office spaces. IFZA Dubai currently has a portfolio of 10 Buildings where we provide hassle free office management. From WIFI, utility charges, access to 2,000 parking spots to complimentary cleaning services, we will take care of everything while you enjoy our concept of “Live, Work and Play”.
You will find at your doorstep many facilities such as gym, grocery, nursery for kids, a wide range variety of all types of cuisine, roof top pool bar, hotel facilities and much more.
From Shared Workspaces to Personalized Offices, we will make sure to find the right fit for your company. IFZA Fit Out team will be happy to seat with you to discuss how we can give that special and unique touch to your office design.


What Does IFZA Stand For?

IFZA stands for International Free Zone Authority, as per its establishment in 2017.


How Can I Rent an Office at IFZA Dubai?

Renting an office from IFZA Dubai is a straightforward process. Here’s how you can do it:

1. Explore Office Options

Start by exploring the different types of offices available at IFZA Free Zone, such as Flexi Desk, Flexi Desk+, Dedicated Workspaces, Private Offices, and Personalized Offices. Determine which option suits your business needs.

2. Contact IFZA

Reach out to our global network of Professional partners to express your interest in renting an office.

3. Consultation and Requirements

During your conversation, they will provide you with information about the office spaces, availability, and any specific requirements or documents needed for the rental process.

4. Office Agreement and Documentation

Once you have selected an office space, you will need to sign the official agreement provided by IFZA Free Zone. Additionally, you may be required to submit certain documents, such as identification proofs and company details.

5. Payment and Confirmation

After fulfilling the necessary paperwork and meeting the financial obligations, make the required payment per the agreed terms. Once the payment is processed, you will receive confirmation of your office rental from IFZA Dubai.
Our team of property experts will guide you through the process and address any specific queries or concerns you may have.


Can I Combine Commercial & Professional Activities on the Same License?

Yes, IFZA Free Zone allows a combination of activities.

Are There any Additional Services Provided by IFZA Dubai

Are There any Additional Services Provided by IFZA Dubai?

At IFZA Dubai, we support business needs beyond company formation within our unique ecosystem. This includes corporate training, corporate banking assistance, health insurance coverage, commercial real estate, office design and more.


What are the taxes that I have to pay in Dubai?

There is no individual tax levied in Dubai. However, there are other local and federal taxes that are being imposed in the city, including:

  •   Value Added Tax (VAT) of 5% on most goods and services.
  •   Excise Tax on goods that are considered to have a negative impact on human health of the environment, such as tobacco products, energy drinks and carbonated drinks.
  •   Customs Duties on goods imported from a foreign country into the mainland. However, Free Zone-registered companies are allowed to import goods from a foreign country into their respective jurisdictions without payment of customs duties.
  •   Tourist Facility-Related Taxes that are specific to hotels, resorts and restaurants include Municipality Fees, City Tax, Tourism Fees and Service Charges.

·   In January 2022, Ministry of Finance announced that it will introduce federal Corporate tax (CT) on the net profits of businesses. The tax will become applicable either on 1 June 2023 or on 1 January 2024, depending on the financial year followed by the business. CT will be applied across all the emirates.


What makes IFZA Dubai different from other Free Zones in the UAE?

IFZA Dubai is the only Free Zone Community that operates on a Business to Business (B2B) Model.
We work hand-in-hand with a global network of thousands of Professional Partners to provide support to both startups and established businesses that choose IFZA as the base of their MENA operations, wherever they may be.
Beyond company formation, IFZA Dubai continues to support businesses meet the challenges of operating in the region by offering additional services through the Free Zone Ecosystem that include commercial real estate solutions, corporate banking assistance, employee health coverage, office fit out, and others.


Are expatriate-owned businesses able to open a bank account in Dubai?

Yes. The UAE allows opening of bank accounts for both residents and non-residents, subject to specific conditions, of course. There are numerous options in terms of banking institutions and account types to choose from, including zero balance business accounts for new businesses to large corporate accounts. Companies registered at IFZA Free Zone have the benefit of corporate account opening assistance with Commercial Bank of Dubai from the IFZA headquarters as well as dedicated access to the fully digital Wio Bank.


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