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Article: 2383

Company setupDocuments and Data Verification Services

International Free Zone Authority logo
JurisdictionInternational Free Zone Authority
Service
Short description

This company can engage in screening documents submitted for employment or otherwise, as well as documents relating to transportation equipment and machinery offered for sale, export or import to identify stolen and counterfeit items. The activity can include contacting the sources that issued the documents or equipment manufacturers to confirm their authenticity. The documents may include education certificates, profession licenses, employment history, registration certificates, import declarations, etc., and the services can be provided to on behalf of governmental and private institutions.

About the company's activities

Types of activities

For setup of a company in IFZA in the field of documents and data verification services, the following business activity has been chosen:

  • Documents & Data Verification Services (8299024). Includes firms that undertake on behalf of governmental and private institutions screening of the documents submitted for employment or otherwise, as well as documents relating to transportation equipment and machinery offered for sale or export or being imported to disclose stolen and fake items. The process involves approaching the sources that issued the documents or equipment manufacturers for accreditation. The documents concerned are education certificates, profession licenses, employment history, registration certificates, import declarations, etc.

The company can choose up to 3 types of business activities under one license without additional fees.

Additional External Regulator Approvals

As part of the company registration process with this business activity, no additional approvals are required.

Share Capital Requirements

The minimum share capital requirement for IFZA companies is AED 10,000, its contribution is optional.
If the shareholder plans to obtain an investor visa, the shareholder's share in the share capital should be at least AED 48,000.

Company name requirments
  • May contain the name of a shareholder
  • Must not violate the country laws or contain words that are obscene, indecent or generally offensive
  • Must not contain the names of Allah, Buddha or God, or any other religious terminology
  • Must not begin with words, such as "International", "Middle East", "Global", "Universal", or their equivalents in other languages
  • Must not infringe any third party's intellectual property rights
  • Must not be identical or similar to local/global brands or registered trademarks
  • Must correspond to the company’s business activities
Bank Account

Entrepreneurs can open corporate accounts in traditional banks with physical branches, as well as in digital banks and payment systems.

When choosing a bank to open a corporate account, consider the following: service level, fees, available currencies, online banking performance, bank reputation, as well as other conditions that may be important for your business.

Successfully opening a corporate bank account requires a well-prepared documentation package, which may vary depending on the specific requirements of each bank. Documents submitted incorrectly or incompletely may negatively affect the bank's final decision in processing the application.

About Jurisdiction

Name and Description
  • Title: International Free Zone Authority
  • Description:

    IFZA (International Free Zone Authority) is a free economic zone (free zone) established in 2017 and located in the Emirate of Dubai, UAE. Through its partnership with Dubai Silicon Oasis, IFZA provides entrepreneurs with unique opportunities, combining flexible business conditions and access to modern infrastructure. This free zone was created to attract small and medium-sized enterprises as well as international companies that require simple and cost-effective options for entering the UAE market.  

    The free zone offers extensive office solutions, including virtual offices, co-working spaces, and physical offices, allowing businesses to flexibly scale and adapt as they grow. IFZA supports a wide range of sectors, including trade, professional services, and technology, offering optimal conditions for effective business development. Businesses registered in IFZA are permitted to operate both within the free zone and beyond the UAE.

    IFZA issues the following types of business licenses:

    • Commercial (wholesale and retail trade)
    • Professional (provision of services)

    IFZA supports companies at every stage of development—from launch to expansion—by providing resources for long-term growth and strengthening competitive advantages. These opportunities create a favorable environment for international expansion and sustainable business success.

Tax regime and income management

  • The UAE has several taxes and fees that regulate the financial activities of both legal entities and individuals. Below are the main ones.

    1. Value Added Tax (VAT)

      • Since January 1, 2018, the UAE has implemented a VAT rate of 5%, which applies to most goods and services and is charged to companies operating within the country, except for those registered in designated zones.

      • A Designated Zone is a territory within a free zone that is treated as outside the UAE for tax purposes, allowing goods to be exempt from taxation, provided certain criteria are met. The main taxation rules in Designated Zones are as follows:

        • The Designated Zones are listed in the Cabinet Decision to Federal Decree-Law No. (8) of 2017 on Value Added Tax (VAT).

        • Goods moved between or within Designated Zones are not subject to tax.

        • The export and import of goods between a Designated Zone and a foreign company are also not subject to tax.

      • For local companies and those registered in Non-Designated Zones (free zones not included in the Designated Zones list), the standard tax rules set forth in the Federal Decree-Law on VAT apply.

        • Companies with an annual turnover exceeding AED 375,000 are required to register with the Federal Tax Authority (FTA) as VAT taxpayers.

        • Companies with a turnover between AED 187,500 and AED 375,000 may register on a voluntary basis.

        • Companies can offset VAT paid on purchases of goods and services (input VAT) against the VAT they collect on sales (output VAT), shifting the tax burden to the final consumer.

        • Some goods and services may be exempt from VAT or taxed at a 0% rate, such as international transportation, educational, and medical services.

    2. Corporate Tax

      • As of June 1, 2023, the UAE has introduced a corporate tax at a rate of 9%, levied on the taxable net profit of companies with income exceeding AED 375,000.

      • A 0% rate is applied to taxable income not exceeding AED 375,000.

      • Charitable, non-profit organizations and medical institutions are fully exempt from corporate tax.

    3. Excise Tax

      • Since October 1, 2017, the UAE has introduced an excise tax aimed at reducing the consumption of harmful products and funding healthcare initiatives. The tax applies to alcohol, tobacco products, and beverages containing added sugar, including energy drinks and carbonated beverages.Excise tax rates vary depending on the product category:

        • 50% on carbonated drinks (excluding mineral water)

        • 100% on tobacco products

        • 100% on energy drinks

        • 100% on electronic smoking devices and liquids used for them

        • 50% on products containing added sugar or sweeteners.

      • Companies dealing with excise goods must register with the Federal Tax Authority (FTA), submit monthly declarations, and maintain records. Excise tax is paid upon the import, production, or release of goods for consumption in the UAE.

    4. Customs Duties

      • Custom duties in the UAE are applied to most imported goods at a standard rate of 5% of the cost, insurance, and freight (CIF). Exceptions include certain categories of goods, such as medicines and food products, which may be exempt from duties or subject to a reduced rate.

      • Goods imported into UAE free zones are generally not subject to customs duties as long as they remain within these zones. However, when such goods are transferred to the UAE mainland, standard duties apply.

    5. Personal Income Tax

      • In the UAE, personal income is not subject to taxation.

      • UAE citizens and residents are exempt from paying taxes on their personal income, including salaries, interest, dividends, inheritances, gifts, luxury goods, and capital gains.

    6. Local Taxes and Fees

      • Individual emirates may impose specific local taxes and fees in line with their economic and social needs. These taxes and fees are aimed at supporting public services and implementing infrastructure projects.

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    Download the company formation guide

    • Step-by-step action plan
    • Document checklist
    • Direct submission of documents to IFZA
    • You pay only the government fee separately
    ......

    Tariffs

    Guide

    Self-service company registration with no extra fees
    • Step-by-step guide
    • Direct document submission
    • Submitting documents directly
    • Government fees are paid separately
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    Сhat Support

    Recommended
    Assistance with document review and submission
    • Dedicated manager in chat
    • Step-by-step guide
    • Full document review
    • Support until license issuance
    • Government fees are paid separately
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    Expert

    An UPPERSETUP expert manages the entire process
    • Dedicated expert
    • Choosing the jurisdiction for you
    • Document submission and full process control
    • Government fees included
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    Payment after consultation

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