Gekkoboy
Easy to join, difficult and expensive to leave
Update, 12 October 2026: The contradiction has continued. From 7 to 12 October, IFZA sent the same automated KYC reminder every day, stating that the cancellation would not move forward until KYC was completed. This came after their case officer had already written that the previous requirement no longer applied, no further action was required from us and the liquidation was progressing. Despite this, we complied again. The company member completed the KYC process using the updated mobile number, including OTP and facial verification. We still have no clear written confirmation that the KYC has been accepted, no Trade License Cancellation Certificate and no Clearance Letter. This is the problem: IFZA says the case is progressing, then keeps sending contradictory reminders and requiring the same process again. After payment and full cooperation, we still have no clear completion date or final closure documents. Based on our experience, we cannot recommend IFZA. Setting up the company was quick but expensive. Liquidating it has been far more difficult and may end up costing more than the original formation. Our company had already stopped operating, but penalties continued to build while we tried to close it. IFZA charged AED 5,000 for five monthly Establishment Card penalties. After accepting our final liquidation report and receiving full payment, IFZA told us the Establishment Card was cancelled and the Trade License cancellation was being finalized. Only later did new requirements appear. We were suddenly asked for KYC and another resolution. The KYC link sent the OTP to an old number, so a separate update and more waiting were required. IFZA then closed the support ticket even though the Trade License cancellation, KYC, Cancellation Certificate and Clearance Letter were still unfinished. The communication became even more contradictory. A case officer wrote that the previous requirement was no longer applicable, no further action was required from us and the liquidation was progressing. One minute later, the ticket was closed. Three minutes after that, an automated email said the opposite: KYC was incomplete and the application would not move forward. Another identical reminder followed the next day. This is exactly the kind of offboarding friction customers should know about. IFZA should provide one complete checklist from the start, assign one responsible person and stop penalties while its own internal process remains unresolved.