Masdar city was built in 2006, 6 kilometers from Abu Dhabi's emirate, nearest to Abu Dhabi International Airport. The word Masdar is an Arabic meaning 'The Source,' which is the appropriate word for the location as it is an Abu Dhabi Future Energy Company project and is endorsed by the Abu Dhabi government to make the energy-efficient area.
Masdar City is an international hub for companies operating in the Middle East to produce, discover, manufacture, and grow energy products and potential green technology products. To make Abu Dhabi the global hub for renewable energies, it has the most effective and business-friendly policies and top-notch research facilities.
The Masdar City Free Zone is a popular destination that provides clean technology and renewable energy with a business-friendly, commercial, and entrepreneurial climate. It offers them all the privileges associated with free zones.
Masdar City has four essential components which focus on four different aspects:
- Masdar Power is in control of the Masdar City power project and the other UK and Seychelles projects.
- Masdar Institution of Science and Technology is a non-profit educational institution that focuses on alternative sources of energy.
- Masdar Carbon focuses on initiatives concerning sustainable growth processes and carbon capture and storage.
- Masdar Venture Capital is an investment aimed at creating renewable energy and environmentally friendly services.
Benefits of Establishing up a Business in Masdar City Free Zone
Many leading companies that have their hands on the energy-generating industry have already highlighted the importance of Masdar City's diverse climate, like:
- The freedom to free foreign ownership and no agreement in the UAE
- Full restriction from corporate and personal income taxes
- No import fees
- Efficient and straightforward setting-up of business in Abu Dhabi Free Zone
- Liberty of retaining both capital and profits
- Availability of one of the most stunning, sustainable live and work habitats in the world
- Liaison point with local, regional and international markets
- Partnership research & development center with Masdar Technology Institute
- The most cost-efficient licensing and office space accessible
- Dubai is just 40 minutes from Abu Dhabi International Airport, Khalifa City, and YAS Island.
- World-class equipment and cutting-edge technologies for tech companies
Masdar City Legal Entities
Businesses must execute their operations under the Company Regulation. Masdar City Free Zone has services for convenient and straightforward company incorporation under three types of legal entities:
- The company under Free Zone Limited Liability (FZ-LLC)
- Branch of a foreign enterprise
- A unit of an authorized local company
Licensing Options in Masdar City
There are several business clusters in this Abu Dhabi free zone, and numerous business alternatives enterprises can choose from:
- Renewable energy
- Secure Technology and Information and Communications (ICT)
- Marketing and Animation
- Human resource development
- Energy sector
- Health facilities
- Service provider
- Property development service
- Regional HQ, Trading and Holding Companies
- Company and Data Centers
- Community Services (Retail, Food & Drinks)
- Oil and gas facilities
Licensing Cost in Masdar City Free Zone
Masdar Free Zone has four specific forms of business licensing tariffs. For start-ups, and even MNCs, these taxes are very cost-efficient:
|Package Type||No of Activities||License Fee (in AED)|
|UAE Nationals & Khalifa Fund||5||10,000|
Procedure for Business Setup in Masdar City
The process for establishing a company in the free zone of Masdar City involves various steps and some documents:
1. Registration name
The first step would be filing the application form for the title, send it to the Free Zone Authority, and pay the AED 2000 reservation fee. After doing so, one must sign the application to Abu Dhabi's Department of Economic Development (DED).
2. Type of license
When you receive your trade name certificate, you will receive a license form you will need to fill out and send to the authorities. You will need to submit the license form along with your business model and other relevant documents. The management will examine all of the documents you have submitted, and the Free Zone Authority will send you an offer letter. This entire procedure can take up to 3 days after the documents have been submitted.
3. Opening a Bank Account
You would need to open a bank account once you have got the offer letter. The Free Zone Authority will send a Letter of Incorporation to the bank to open a bank account. Open a corporate bank account, transfer the minimum required capital, and then obtain a Capital Verification Letter from the bank, also called Proof of Capital Letter.
4. Acquiring the License and Signing the Lease
The letter on Capital Verification should be forwarded to the Free Zone Authority. Then you should sign the Memorandum of Association and Articles (MAA). The free zone will grant the license agreement after the receipt of the Evidence of Capital Letter.
The final step will be to gather the license and sign the lease contract.
Masdar City is an exclusive location for technology, and energy-based companies run by the state government itself. Commitbiz will handle the company’s formation from the beginning of the process to the end of the process and oversee all the required documents for licensing and documentation. It'll be our job to direct you through the whole process and make sure you launch your business on the right foot. Our team of professionals can guarantee your Masdar City free zone business setup is trouble-free. Contact us in Masdar City for business setup; we'll be happy to assist you.