A Comprehensive Guide to the International Free Zone Authority

Before IFZA company setup, it is essential to understand how to apply for a business license in an international free zone. The first step is to identify the activity to be conducted. There are certain rules to be followed when applying for a business license. You can learn about visa requirements, the quota of eligible applicants, and employment laws. Below are a few things to consider when applying for a business license in an international free zone.

IFZA visa requirements:

The Schengen area is an open border area where citizens of some countries must have a passport before entering the Schengen area. However, if you wish to stay longer than the Schengen period, you will need to get a different type of visa. You may also need to leave the Schengen zone and then apply for another type of visa. It is important to know your visa requirements before you begin your trip.

IFZA visa quota:

The amount of international free zone visas available to businesses varies between the different international free zones. Most quotas for a given business are only two or three, but there is usually a way to increase your quota. You can apply for a higher visa quota by moving to a different free zone or requesting an increase. If you are interested in applying for an IFZA visa, follow the steps below to get a higher quota.

IFZA employment laws:

International free zone authorities have different laws; the New Labor Law requires that all employment contracts be for a fixed period, with a minimum notice period of 30 days when the employee is not more than five years long. The new labor law applies to all private-sector employers in the UAE, including international free zones like Dubai International Financial Centre and Abu Dhabi Global Market. Both free zones implement their employment laws to protect their interests.

IFZA ESG regime:

Providing the right framework for the ESG reporting of financial institutions is essential for their success. ESG regulations have several requirements, including developing methodologies for assessing negative impacts, accrediting outcomes, and balancing commercial objectives. The SFDR is one example of a new regulation that addresses these needs directly.