Final Total Cost for International Free Zone Authority Dubai company (No Audit required / Cheapest among all Dubai Freezone)

[troubled soul]

As far as My search Audit Free and Cheapest free zone in Dubai is International Free Zone Authority Dubai.
I want to figure out the Total Final cost for 1 Visa Freezone corporation in this zone.
I receive an official email from the authority, They officially say that "Clients who choose 0 Visa License may find difficulties for opening bank account if not a UAE Resident. So please check with UAE banks prior." so keep in mind that also. Better to form company with one visa.
and Costs are as below

IFZA Dubai License Packages	IFZA Dubai- Standard Price (AED)	RAMADAN Promo (15% Discount)
1 Visa- Eligibility- License​	17,900 AED​	15,200 AED​

Example- any visa related packages, clients must add Establishment card fee.

Details​	Standard Price ( AED )​	Discounted Price 15% ( AED )​	Visa​
License Fee inclusive of all fees for incorporation	17,900​	15,200​	1 ( Eligibility )​
Establishment Card	2,000​	​	​
Total	​	17,200​	1 year​

Visa Fees, Government Fees & Other service fees	AED​
Establishment Card Renewal yearly	2,200​
Residency Visa Fee ( 3yrs ) Per Person	3,750​
Visa Status Change Fee- Per Person (inside UAE)	1,600​

Important:

• Medical Fitness Test Result- AED300-500 approx. ( Must be done by the client during the process of Visa at any medical registered centers in Dubai )
• Emirates ID AED 370 approx. for 3yrs ( Must be done by the client during the process of Visa at registered typing centers )
• UAE Medical Insurance must be taken from client before UAE Visa stamping- clients can directly apply with providers like Oman Insurance, AXA, ADNI, MetLife and there are so many others.

Basic Insurance for only visa quote is like below

Now Let's Do Final Calculation "The Grand Total" For applying from outside UAE without Discount .

1 Visa- Eligibility- License ==>17,900 AED
Establishment Card ==> 2,000 AED
Residency Visa Fee ( 3yrs ) Per Person==> (3,750/3) ==>1250 AED for First year
Medical Fitness Test Result ==> 500 AED
Emirates ID ==> AED 370
UAE Medical Insurance ==>AED 562

Grand Total is ==> AED 22,582 ($6148 or Euro 5042 )
If your applying from inside UAE total will be ==>1,600 AED + 22,582 AED ==> 24,182 AED ($6583 or Euro 5399 )


Is it the right calculation or Am I missing something?
Open for Criticism or Trolling If It is incorrect.
Do comment and Help this thread to find the Final total cost of this Setup

Thanks

 

[Mercury]

Residency Visa Fee ( 3yrs ) Per Person==> (3,750/3) ==>1250 AED for First year

Are you able to pay the visa yearly?
Assuming you can't, company setup costs would add 3,750 AED the 1st year, then pay again the same amount on the 4th year for 3 years visa renewal.

 

[troubled soul]

Assuming you can't, company setup costs would add 3,750 AED the 1st year, then pay again the same amount on the 4th year for 3 years visa renewal.

True I am trying to Figure out first-year cost

Clients who wishes to pay upfront for multiple years 2yr or 3yrs- we can give you additional discount of 10-15%.

You can pay in three years in advance also. It is official reply from Authority.

Are you able to pay the visa yearly?

Even You can pay the first-year fee in installment also. They have a very attractive plan. Now most of Freezone offers installment payment for fees.

 

[Fred]

Honest advise, no offense and we understand you want to get an cost overview

BUT

The ones that need to pay the Company License in installments won't get any banking with local UAE banks.

In 2021 the local UAE Banks want to see some money, wealth, property in your name at least.

All banks that still open for new clients in 2021 require 50.000 - 200.000 AED deposit or you have to take some investment that comes around 700$ a month.

Still with Dubai Company you get everything everybody is looking for - the banks know this and asking to bring money with you.

So better prepare yourself for banking on EMI with the questions asked here.

You can escalate this and add up the flight costs and the daily hotel rate.

The point is if you count every AED - Dubai Setup isn't for you.

 

[troubled soul]

Honest advise, no offense and we understand you want to get an cost overview

BUT

The ones that need to pay the Company License in installments won't get any banking with local UAE banks.

In 2021 the local UAE Banks want to see some money, wealth, property in your name at least.

All banks that still open for new clients in 2021 require 50.000 - 200.000 AED deposit or you have to take some investment that comes around 700$ a month.

Still with Dubai Company you get everything everybody is looking for - the banks know this and asking to bring money with you.

So better prepare yourself for banking on EMI with the questions asked here.

You can escalate this and add up the flight costs and the daily hotel rate.

The point is if you count every AED - Dubai Setup isn't for you.

Yes, not bank account Even just corp setup some step are complicated and confusing better to hire some service providers like you.

Do not get this thread as your criticism thread. It will be helpful for your future client also.
Hope you can understand soul of this thread. @Fred
If you do not like thread , do tell me I have no problem to delete this thread.
As you earn money by providing services.



Thanks

 

[Fred]

Yes, not bank account Even just corp setup some step are complicated and confusing better to hire some service providers like you.

Do not get this thread as your criticism thread. It will be helpful for your future client also.
Hope you can understand soul of this thread. @Fred
If you do not like thread , do tell me I have no problem to delete this thread.
As you earn money by providing services.



Thanks

No that's not the point - all good.

The point is what the banks asks for when it comes to deposit money even a good service provider can't change.

So we want to save people from loosing money on a Dubai Company if they are not wealthy enough to bring the cash with them the banks asking for in 2021.

 

[troubled soul]

No that's not the point - all good.

The point is what the banks asks for when it comes to deposit money even a good service provider can't change.

So we want to save people from loosing money on a Dubai Company if they are not wealthy enough to bring the cash with them the banks asking for in 2021.

True, Dubai is for quality people. As I mention so many time on this forum. For small amount you are just wasting your time.

Not only hotel or airport ticket even food/water is quite expensive

 

[CaptK]

True, Dubai is for quality people. As I mention so many time on this forum. For small amount you are just wasting your time.

Not only hotel or airport ticket even food/water is quite expensive

The price quoted is if you do it yourself. Any one who has tried will tell you it took longer and ended costing way more than if they just did it with an agent.

Yes it's just a bunch of forms but the Freezone employees are not the brightest people in the world.

Paying someone else to do the needful will take the stress away and with regulations changing all the time you need someone on the ball.

As the saying goes you get what you pay for!!

 

[troubled soul]

Yes it's just a bunch of forms but the Freezone employees are not the brightest people in the world.

Nobody Can argue on that, Even some bank employee is "very great" People, Even online service of Dubai bank are not good there are so many complain on the Internet also

 

[MiddleEuroAsia]

I think meydan LLC-FZ is also somewhat affordable (more affordable than Ifza at least) Heard good things about them but I never personally used them.
I wonder if @Fred or @CaptK have any direct experience with them?, since this FZ seem to have various relationships with the big boys (e.g. FAB, ENBD and ADCB).

 

[Fred]

Hi @MiddleEuroAsia ,

they don't have any cooperation with this banks - they just use this banks for installment plans so you can participate if you have a personal account with one of the mentioned banks.

No bank in 2022 signs any cooperation or similar letter as it's bs anyway - remember RAKEZ is "partnered" with FAB

In terms of pricing - it's the same with ongoing promotions.

At least they have recognized the bank game in 2022 and have an EMI white label.

 

[CaptK]

Meydan is useless, just as bad as RAK. Good for those just looking for residency and individual bank accounts.
Cheap is not always cheap in the long run!!

I think meydan LLC-FZ is also somewhat affordable (more affordable than Ifza at least) Heard good things about them but I never personally used them.
I wonder if @Fred or @CaptK have any direct experience with them?, since this FZ seem to have various relationships with the big boys (e.g. FAB, ENBD and ADCB).