Twofour54 Abu Dhabi Media Free Zone Company Formation
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.
Business Licensing Segments in twofour54
The main focus of this Free Zone is to boost entertainment and media companies and help them grow.
- 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
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.