IFZA rules and regulations
The International Free Zone Authority (IFZA) has its own set of rules and regulations that businesses must follow when operating within the free zone. These rules and regulations are designed to ensure that businesses operate in a transparent, fair, and ethical manner, and to protect the interests of businesses, investors, and employees.
Some of the key rules and regulations that businesses operating in IFZA must follow include:
- Businesses must register with IFZA and obtain the appropriate license type for their business activity.
- Companies must have a local sponsor or agent in order to set up a business in IFZA.
- Businesses must maintain accurate and up-to-date records of their financial transactions and operations.
- Companies must comply with all relevant UAE laws and regulations, including labor laws, health and safety regulations, and environmental regulations.
- Businesses must respect the intellectual property rights of others and refrain from engaging in any activities that may infringe on these rights.
- Companies must maintain the confidentiality of any proprietary or sensitive information that they may come into contact with.
- Businesses must comply with all IFZA rules and regulations related to the use of facilities and amenities within the free zone.
IFZA may impose penalties or fines on businesses that violate its rules and regulations, or it may revoke the business’s license and require it to cease operations within the free zone.
IFZA business activities
The International Free Zone Authority (IFZA) in Dubai offers a range of business activities for companies to choose from when setting up their operations within the free zone. These activities are divided into different categories, including:
- Trading: This category includes activities related to the import, export, and distribution of goods.
- Manufacturing: This category includes activities related to the production of goods, such as assembling, processing, or packaging.
- Services: This category includes activities related to the provision of services, such as consulting, engineering, or marketing.
- Industrial: This category includes activities related to the processing of raw materials into finished goods, such as mining, refining, or manufacturing.
- Professional: This category includes activities related to the provision of professional services, such as legal, accounting, or architectural services.
- Educational: This category includes activities related to the provision of educational services, such as training, tutoring, or language instruction.
- Medical: This category includes activities related to the provision of medical services, such as hospitals, clinics, or diagnostic centers.
- Media: This category includes activities related to the production and distribution of media content, such as television, radio, or film.
- Others: This category includes any business activities that do not fit into the above categories.
When setting up a business in IFZA, companies must choose a business activity and register for a trade name. They must also obtain the appropriate license type for their chosen business activity.
IFZA free zone license cost
The cost of a license for a business operating in the International Free Zone Authority (IFZA) in Dubai varies depending on the type of license and the business activity. Some of the factors that may influence the cost of a license include the size of the company, the nature of its business activities, and the length of time for which the license will be valid.
The cost of a license for a business operating in IFZA may include:
- License fee: This is the fee charged by IFZA for issuing the license. The amount of the license fee will depend on the type of license and the business activity.
- Security deposit: This is a deposit that is required by IFZA as a guarantee of the company’s financial stability. The amount of the security deposit will depend on the size of the company and the nature of its business activities.
- Rent: Companies operating in IFZA may be required to pay rent for office or warehouse space. The cost of rent will depend on the size and location of the space.
- Other fees: There may be other fees associated with operating a business in IFZA, such as fees for obtaining visas or work permits, or fees for using IFZA’s facilities and amenities.
It is important for businesses to carefully consider the costs associated with operating in IFZA and to factor these costs into their budget and financial planning. Companies may wish to consult with a legal or financial advisor for assistance with understanding the costs involved in setting up a business in IFZA.