Abu Dhabi has a vision for the future of the emirate which the government terms as Abu Dhabi Vision 2030. The government is trying hard to fulfil this vision and ensure that Abu Dhabi can develop a diversified economy and that the emirate is
With accordance to this vision of the future, the KIZAD free zone project was undertaken by the Abu Dhabi Ports in the year 2010. By September of 2012, the Khalifa Industrial Zone Abu Dhabi KIZAD free zone commenced its operations. The main aim of the establishment of this zone was to provide a platform to the businesses and companies all around the world which wanted to establish themselves as a household name in the Middle East.
Advantages of Company Incorporation in KIZAD
Setting up a company can be very beneficial in KIZAD free zone due to the various benefits this zone offers. Some of the advantages available to a company established in the free zone are:
Located at equal distance from both Dubai and Abu Dhabi, the connectivity via airways is very good. This free zone is connected to the rest of the world via a network of airways, waterways and roadways. This allows KIZAD to serve the 55 million indigenous people as well as also helps to connect to people all around the world.
2.State of the Art Infrastructure
The companies’ setup in KIZAD free zone has access to many dedicated and sophisticated infrastructures such as four-lane highways, hot metal roads, fully featured airports and feature filled buildings.
Various incentives such as easy business incorporation, no corporate or income tax and no customs duties attract the multiple entrepreneurs and people in business from all over the world. This free zone also allows 100% ownership and 100% repatriation of profits and incomes.
4.Easy Access to Licenses
While setting up a company in KIZAD free zone, it is not required to have a physical presence or a physical space to be occupied by the company. Department of Economic Development (DED) also has provided a facility of a dual license regime and the companies can also form a branch company in the mainland.
Abu Dhabi is one of the most technologically advanced places and has all the latest technical facilities which a company or business may require. The digitalization of the company setup process will speed up the process of acquiring the necessary documents, permits and licenses.
The benefits, as mentioned above, form a major reason for the entrepreneurs to get attracted to set up their business in the free zone. The mentioned advantages are not an exhaustive list, and there can be many more benefits added to the list. The various benefits will also depend on the type of company structure which the company decides to open.
For any more information on the benefits, do read our blog titled Advantages of Setting Up a Company in KIZAD.
Types of Companies in KIZAD
An entrepreneur can set up two different types of companies in KIZAD free zone, namely:
Limited liability Company
An LLC is a legal structure which can be owned by individuals, corporates or both of them. The paid-up capital of such a company should be a minimum of AED 150,000OR higher. An LLC is a company which have combined features of a partnership, a sole proprietor and a partnership.
A Branch company can be registered in the free zone as a branch of a foreign company, a UAE company. Every branch company in the free zone have a valid license and registration outside of the Khalifa Port Free Trade Zone and can apply for the formation of a branch company in the free zone.
A free zone company can acquire the licenses by applying to the Free Zone Authority, and in the times ahead there will be an authority which will regulate both free zone or non-free zone companies.
There are three different types of licenses available in the free zone. Each licence will open up a different industry for a company to set up business in.
All companies which are into services related activities such as management consultancy services, marketing services, warehousing services, logistic services etc. need to acquire a services license.
A trading license will allow companies in the free zone to transact in around 17 product categories and that too under three different product groups.
One of the most common types of license which is used in the KIZAD free zone. This license allows for the importing of raw materials packaging, manufacturing etc.
Though acquiring a license is comparatively easy in the KIZAD free zone, but sometimes it is necessary that you take the help of a management consultancy firm. One such consultancy firm is "Commitbiz".
Commitbiz will allow to set up your business without any hassle and will provide services such as Tax calculation, Visa services and many others. For more details on the services offered, do contact us – We will be happy to help.