Twofour54 Abu Dhabi Media Free Zone Company Formation

Business Setup Services | Twofour54 Abu Dhabi Media Free Zone

To make Abu Dhabi a Zone for big media establishment Government open Twofour54 Free Zone in the year 2008 to provide a business hub for local, regional and international media companies. This Zone is setup by Media Zone Authority made to provide a Great base for media services to nourish to position Abu Dhabi as a regional center of excellence and a playing a huge part in the rise of the Arabic media content creation. Authority’s main aim is to promote and create a platform for the inclusive development of Arabic media and entertainment content in all spheres (Events, Film, Digital Media, Publishing, Music, Broadcast, Gaming, etc.). Implementation and supervises of the strategies and operational policies in the free zone by Twofour54. Twofour54 has some of the world best and biggest media houses like CNN, Financial Times, Thomson Reuters Foundation, BBC have set up their operations in Twofour54. in the Free Zone we have a variety of a talent pool of more than 4,000 professionals, including 600 freelancers.

There are 3 major key pillars through which twofour54 delivers its advanced infrastructure for setting up a business in Abu Dhabi free zones.

  • Twofour54 Tadreeb (the training academy)
  • Twofour54 Ibtikar (innovation and support)
  • Twofour54 Intaj (state-of-art production facilities)

Types of Business Setup in TwoFour54

In the Twofour54 Free Zone in Abu Dhabi there are four ways you can open your business here.

1. Limited Liability Company (LLC)

It is an independent legal entity that includes independent shareholder(s), corporate shareholder(s) or a mixture of both.

2. Freelancer

A freelancer is a person who doesn't work for any person or company he works as a freelancer professional and takes works from anybody to be an individual or company.

3. Branch of a Company

A branch is like a tree it presents the parent company it can be a foreign or a company in the UAE.

4. Start Up

If you want to start your own company/Business in media, the news field in digital content creation and/or content production for TV, web, and cinema.

Business Licensing Segments in twofour54

The main focus of this Free Zone is to boost entertainment and media companies and help them grow.

  • Mobile
  • Gaming/Animation
  • Production
  • TV/Film
  • Online
  • Publishing

Advantages of business setup in Twofour54

  • Full foreign ownership
  • No taxes on corporate income
  • Full repatriation of capital and profits
  • No taxes on import and personal income
  • 30% cash allowance for international film and TV production
  • A unique campus environment with facilitated business networking
  • An on-site media training academy for media professionals
  • On-site HD production and post-production facility

How to Set Up a Business in twofour54?

Foreign investors seeking opportunities to establish a company would be interested to know that opening a business in the twofour54 free zone is quite simple. The initial of choosing your type of business model. If you are looking for working for yourself you can get freelancer license and work as a professional media freelancer and provide your service at a reasonable price. If you are a foreign enterprise that wants to start a digital content creation and audio/video production company you can get a special license from the Media Zone Authority. Follow these steps if you want to open a business in the Free Zone.

  • Take and fill the form and choose a name of the company, share capital, names, and shareholding of each shareholder
  • Provide the supporting documents
  • Pay the licensing fee at the counter
  • Open a bank account after you get the license
  • It will not take more than a week to get your business license. The license is valid for a year and is renewable annually.

Documents Required to Get a License in twofour54

  • An application forms
  • Copy of business plan
  • Passport copies of the shareholders
  • Your photograph on a white background
  • Name and activity approval
  • Bank reference letter
  • A Curriculum Vitae

Why do business in twofour54

To encourage business in the area Twofour54 offers many incentives to small start ups and entrepreneurs willing to set up their business in the free zone. Abu Dhabi media industry to boost and strive to facilitate the growth and development of the industry through the implementation of productive, transparent, effective regulation and consistent that shall contribute to Abu Dhabi’s GDP.

Cost-Effectiveness

Office space to businesses at a low rate and no requirement of a security deposit for employee visa makes twofour54 the most preferred business for the start-ups.

Business Ecosystem

To improve your skills and experience they offer on site vocational media training tailored training solutions for the organization related courses as well as.

Location

They have a stable, friendly, and working environment in the proximity of Downtown Abu Dhabi in the port and the international airport.

Networking and Business Opportunities

They have many facilitation services such as podcasts, seminars, roadshows. They organize networking events every 4 months bringing partners and stakeholders of Abu Dhabi on one platform.

Foreign investors will also benefit from the one-stop-shop for company registration and licensing with the MZA. Opening your Business is not a walk in the park and therefore it is advised to have assistance from business experts who will guide you through every part of the application make sure that the process of your company formation goes as smoothly as possible.

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1. LOCATION:

Let’s start with what many consider to be this particular free zone’s biggest benefit: location. Not only does Dubai’s location make it the ideal place to do business with both east and west, but the Dubai South Free Zone itself could not be more perfectly placed within that. As well as being the site of Expo 2020, which is set to be one of the biggest business events the region has ever seen, Dubai South is also in prime location for access by land, sea or air – on the Sheikh Zayed Road, connecting Abu Dhabi and Dubai, and directly linked to both the Jebel Ali Sea Port and Al Maktoum International Airport.

2. AFFORDABILITY:

This is, of course, important to businesses of all sizes. However, as one of the most cost-effective free zones in the emirate, Dubai South Free Zone is increasingly popular with individuals and smaller companies looking to get the big business advantages of a free zone on a small business budget.

3. VISAS WITH A FLEXI-DESK OPTION:

Another major pulling point of Dubai South Free Zone for solo entrepreneurs and small business owners is that it allows for three visas without the need for physical office space – depending on your business activity. Entrepreneurs need only take on a flexi-desk package – offering flexible access to desk space and other office services such as conference room hire and reception cover – which is not monitored and therefore not compulsory.

4. WIDE VARIETY OF BUSINESS TYPES WELCOMED:

Dubai South Free Zone welcomes a wide range of business activities – including HR, e-trading, IT, training, consultancy, advertising, design, general trading and more. It also offers both consultancy (including service) and commercial licences – the latter of which allows businesses to import goods and sell them to other free zones, or within the UAE market with the support of a third-party distributor.

5. EASY SETUP:

It should be said that Dubai South’s incorporation process is not quite as straightforward as other free zones – though it is certainly not complex either. And it offers many other advantages. For one, no share capital is required to set up shop, which combined with low fees make it a highly cost-effective choice. The process is also notably fast – taking a maximum of ten days from start to finish.

6. MINIMAL PAPERWORK:

As well as being hugely popular with solo entrepreneurs and small business owners, Dubai South Free Zone is also well favoured by paperwork-adverse entrepreneurs. Not only is there in most cases no requirement to submit a formal business plan but auditing is only required after the second year of company renewal.

7. EASE OF SETTING UP YOUR CORPORATE BANK ACCOUNT:

It can feel like there are a million and one things to do when setting up a business anywhere in the world – and the UAE is no exception. So anything to lessen that burden is a relief. As well as the standard assistance you would expect with business registration in most of the UAE’s free zones, when setting up in Dubai South, you’ll also get help and assistance choosing and opening your corporate bank account.

8. EASY TO SPONSOR DEPENDENTS:

Dubai South Free Zone doesn’t only make it easy to get your own visa in place, it’s very simple for entrepreneurs to sponsor family and employees for their own residence visas too. Whether you require a visa for a spouse, child, maid or driver, the process is made up of four straightforward stages: entry permit, status adjustment, a medical fitness test, then Emirates ID registration and visa stamping. So with this in mind, it’s a good idea to get advice from an expert in setting up UAE free zone businesses – to ensure that before you start an application, both you (and those you’re hoping to sponsor) meet all of the entry criteria.

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