About the company
|Company Type||A Free-zone Company in the Emirate of Dubai registered in the IFZA Registry with a registered office and correspondence address in the Emirate of Dubai.|
|Authorized Activity||The company can engage in any activity except banking, insurance and financial activities (such as currency exchange). The management of funds for third parties is not permitted.|
Concerning the share capital
|Authorized Currency||United Arab Emirates Dirhams (AED)|
|Minimum Share Capital||Min. AED 150,000|
|Maximum Share Capital||No limit|
|Release of Share Capital||It is not required to deposit the share capital when the company is created.|
Accounting & Audits
|Bookkeeping and annual audit of accounts||It is mandatory to maintain accounts and perform an annual audit.|
|Justifications for Expenditure and Revenue||Nothing to justify (unjustified expenses will be debited from the partner’s shareholder account)|
About the Manager
|Eligibility||Any individual or legal entity regardless the nationality. Nominee Directors are not permitted.|
|Minimum Number of Manager||One. Can be a person or legal entity. If legal entity, then the manager must be a natural person|
|Mandatory Local Shareholder||Not required. They can reside in any country|
About the Shareholders
|Minimum Number of Shareholders||One.|
|Maximum Number of Shareholders||No limit.|
|Eligibility||Any individual (21+ yrs) or legal entity. Any nationality. Nominee Shareholders are not permitted.|
|Manadatory Local Shareholder||Not required. Shareholder(s) can reside in any country.|
Set Up Timeline
- The deadlines to be expected are as follows:
- 3 days to process and email all the registration documents of your company to you. You will then have to sign, scan, and email them back to us.
- Up to 7 working days to receive the Certificate of Registration of your company;
- Residence visa: After the registration of your company, you must come to Dubai for 2 weeks and be present in Dubai from Sunday morning to Thursday evening of the following week to receive your residence visa. We will meet with the bank the same day as your visa is obtained to open your bank account in Dubai. A residence visa is required to open a personal bank account. It takes 5 working days to get it.
- Around 7 working days to obtain your bank account number following the registration of your company (remote opening) or following obtaining your visa (opening on site). The bank card is then sent by the bank by express courier to the address of your choice worldwide approx. 15 days after the payment of your first funds into your account.
Advantages and disadvantages of IFZA
Advantages of IFZA
The advantages of IFZA are as follows:
- Excellent value for money (license and offices)
- Remote registration of the company
- Time limits for registering the company
Disadvantages of IFZA
The disadvantages of IFZA are the following:
- Location of the free zone is a bit out of the way
- Less prestigious than other free zones
Rates for the company and residence visas
Company Set Up Packages
Here are the rates for the company:
Our packages include the following:
Services provided for one time Company Set Up Costs:
– Service Charge -> these are our fees (nothing to add all is included!)
– VAT and accountancy training -> we explain how VAT works and your company’s accounting obligations
– Salary Register -> establishment of the Employee Register
– Company stamp -> this is a stamp that complies with local regulations (required for opening a bank account, etc.)
– FREE assistance in opening a bank account -> we assist you in opening a bank account for your company
– FREE setup of invoicing and accounting application -> Installation and configuration of invoicing and accounting software
Services provided with Maintenance Costs per year:
– Service Charge -> our fee for renewing and monitoring your company
– UNLIMITED after-sale support concerning your company in the UAE -> we provide unlimited customer support to answer all your questions
– Coordination with Accountant -> we provide a coordination service with the accountant of your company
– Coordination with Auditor -> we provide a coordination service with the auditor of your company
– Coordination with Tax Agent -> we provide a coordination service with the tax agent in charge of the VAT of your company
– Subscription to Merritt Updates -> legal, fiscal and social watch on the Emirates sent by email
– UNLIMITED access to Merritt.center -> all administrative, legal and accounting documents of your company in a secure customer portal
– UNLIMITED access to Merritt.guide -> all useful information for your company and your residence in the UAE
– Maintenance of UBO Register -> this involves maintaining and updating the Register of final beneficiaries as required by the Authorities
– Correspondence address in Dubai (including UNLIMITED scan and forward of your mails and courier) -> we scan / resend your mail as soon as it arrives according to your instructions
– FREE shared telephone number in the UAE (with answering in English and Arabic) -> shared telephone number with telephone secretary in English and Arabic
– FREE domain name + WordPress pre-installed + emails-> domain name + installation of a WordPress showcase site + email addresses on a server located in Dubai
Package for the residence
Here are the rates for the residence:
– Exchange Driving License: the driving license exchange fees can be deducted if not applicable (see list on next page).
– Medical check: the costs of the medical test can be deducted for children under 15 years old.
The Residence Packages are in addition to our Company Packages. They are not mandatory and they can be subscribed when you wish without limit of validity.
Our packages include the following:
– Residence visa (with support and assistance for all formalities) -> we assist you and take all the steps to obtain your residence visa in an air-conditioned vehicle with driver from our offices in Dubai. The person from our team who will accompany you speaks French, English and Arabic.
– EmiratesID -> we request and receive in our offices your UAE identity card (sent by Po Box by the Authorities)
– UAE driving license exchange -> as part of the recognition of your foreign license, we take all the necessary steps to obtain it and accompany you to the traffic department for this
– Assistance in opening a personal bank account -> we assist you in opening a
personal bank account in Dubai
– Assistance in opening a brokerage / saving bank account -> we assist you in opening an investment account (Saxo Bank, EmiratesNBD Private Banking, etc.).
– UNLIMITED after-sale support with information concerning your residency in the UAE: insurances (health, home, car, travel), succession planning, etc. -> we provide unlimited customer support to answer all your questions about your residence in the Emirates and advise you: insurance in the Emirates (health, car, accommodation, travel), inheritance, etc.