When venturing into the dynamic business landscape of the United Arab Emirates (UAE), selecting the right Free Zone for your Company setup is a very important decision. Among the variety options available, IFZA Free Zone and Meydan Free Zone are popular choices for Business setup in Dubai. This article aims to provide a comprehensive comparison of IFZA Free Zone and Meydan Free Zone, focusing on their initial setup costs, permissible activities, annual renewal fees, and residence visa cost.
Initial Setup Costs
IFZA Free Zone
The initial business setup cost for IFZA Free Zone is 12,900 AED. This fee includes the necessary documentation and permits required to establish your business within the free zone. For general Trading activity, there is additional fee of 10,000 AED per year and 2,000 AED to combine trading and consulting activities under the same license.
Meydan Free Zone
Meydan Free Zone requires an initial investment of 12,520 AED for setting up your Company and obtain a business license. This cost covers the registration and licensing processes, ensuring a smooth commencement of your business operations. Meydan is offering the General Trading license with ZERO extra charges and allow the combination of Trading and Consulting without any additional fee.
Comparison
Both IFZA and Meydan Free Zones have relatively competitive initial setup costs. However, these fees are generally reasonable considering the benefits and opportunities provided by these free zones.
Permitted activities
IFZA Free Zone
IFZA Free Zone is known for its flexibility in accommodating a wide range of activities. It is suitable for businesses engaging in any mix-match of activities, offering a versatile environment for enterprises looking to diversify their operations.
Meydan Free Zone
Similar to IFZA, Meydan Free Zone also permits a variety of activities, making it well-suited for general-trading businesses involved in any mix-match of activities. This flexibility allows entrepreneurs to explore various avenues within the free zone.
Comparison
Both IFZA and Meydan Free Zones offer a comprehensive scope of permissible activities, providing general-trading businesses with the flexibility to engage in diverse ventures. The choice between them may depend on specific business needs or industry preferences.
Annual Renewal Fees
IFZA Free Zone
IFZA Free Zone charges an annual renewal fee of 17,100 including the package of 1 visa eligibility and the renewal of the immigration Card. This fee covers the ongoing support, maintenance, and renewal of licenses, ensuring the seamless continuation of your general-trading business within the free zone.
Meydan Free Zone
Meydan Free Zone has an annual renewal fee of 16,550 AED including the Business address, Trade license, visa quota and Immigration Card. This fee includes the necessary processes and support for renewing licenses, enabling businesses to sustain their operations in the free zone.
Comparison
In terms of annual renewal fees, Meydan Free Zone offers a slightly lower cost compared to IFZA. While the difference is not substantial, it may influence the decision-making process for businesses aiming to optimize operational costs.
Residence visa cost
IFZA Free Zone
IFZA Free Zone charges AED 3,750 as a fee for the employment visa application and AED 4,750 for the investor visa. Residence visa will be valid for 2 years. This fee covers the request of entry permit, and residency approval. Other fees to be considered with application such as medical check and Emirates-ID as well as change of Status if the applicant is inside country. Residence visa renewal fee will be the same amount paid AED 3750 in case of employment visa and AED 4750 for Investor Visa
Meydan Free Zone
Meydan Free Zone charges AED 3,520 as a fee for the employment visa application and AED 4,020 for the investor visa. Residence visa will be valid for 2 years. This fee covers the request of entry permit, and residency approval. Other fees to be considered with application such as medical check and Emirates-ID as well as change of Status if the applicant is inside country. Residence visa renewal fee will be the same amount paid AED 3,520 in case of employment visa and AED 4,020 for Investor Visa
Comparison
In terms of residence visa fees, Meydan Free Zone offers a slightly lower cost compared to IFZA Free Zone. While the difference is not substantial, it may influence the decision-making process for businesses aiming to optimize operational costs.
Conclusion
Choosing between IFZA Free Zone and Meydan Free Zone for your business in the UAE involves careful consideration of factors such as initial setup costs, permissible activities, and annual renewal fees. Both Free Zones offer flexibility and support for businesses, making them attractive options for entrepreneurs seeking a conducive environment for growth and expansion. Ultimately, the decision should align with the specific needs and goals of your general-trading enterprise.
Expert Guidance with FreeZoneMarket
FreeZoneMarket specializes in assisting businesses with various services related to company formation, residence visa process, business banking and license renewal.
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