Which free zone has the lowest renewal fee?

IFZA charges AED 12,900 for renewal in 2026, the lowest among the three options.

Can I open a UAE bank account remotely?

All three zones support remote video KYC with Emirates NBD and Mashreq in 2026.

How long does company formation take?

IFZA and Meydan complete most licences in two to three working days; RAKEZ needs five to seven days.

IFZA vs Meydan vs RAKEZ: Best Cheap Free Zone

Setup costs in 2026

IFZA charges AED 12,900 for a standard 0-visa package and AED 17,900 for a 2-visa package. Meydan lists AED 15,900 for the first year with two visas included. RAKEZ offers AED 14,500 for a mainland-eligible licence with one visa. Renewal fees stay similar across all three, though IFZA remains the lowest at AED 12,900.

Visa allocation and sponsor rules

IFZA gives two visas with the base package and allows you to add more at AED 3,000 each. Meydan includes two visas and charges AED 3,500 per extra visa. RAKEZ starts with one visa and adds visas at AED 2,800 each. None of the zones require a local sponsor for 100 percent foreign ownership.

Bank account opening success

IFZA companies open accounts at Emirates NBD and Mashreq within four to six weeks when documents are complete. Meydan firms report similar timelines with the same banks. RAKEZ companies sometimes face extra compliance checks and average eight weeks. All three zones accept remote video KYC in 2026.

Physical presence and flexibility

IFZA lets you use a flexi-desk in Dubai Silicon Oasis or work fully remote. Meydan provides a virtual office in Business Bay with optional co-working days. RAKEZ requires a physical desk in Ras Al Khaimah but allows hybrid use after the first year. None impose minimum office size for service or trading activities.

Industry fit and licensing speed

IFZA processes most service and e-commerce licences in two to three working days. Meydan specialises in consulting and media licences with the same speed. RAKEZ focuses on manufacturing and logistics, taking five to seven days for approval. All three issue digital licences and MOAs instantly after payment.

Reputation with authorities and partners

IFZA and Meydan carry strong recognition among UAE banks and government entities. RAKEZ is accepted but sometimes requires extra verification letters for mainland contracts. ICP processes visa stamping for all three zones without distinction once the Emirates ID step is complete.

Ask Tovi for more

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Got more UAE questions?

Tovi knows current 2026 UAE rules, fees, and processes. Ask anything — visas, banking, housing, schools. Ask Tovi free →