Twofour54 Free Zone

Are you looking for a freezone with a business environment empowered with innovative and creative people who push you to think outside the box? If so, twofour54 is the ideal option for your business operations. Supported by the Abu Dhabi Department of Economic Development (ADDED), this free zone offers you opportunities to thrive and streamline your business journey. Companies in twofour54 benefit from world-class facilities, talent development initiatives and training programs.

If you want to set up your business in the twofour54 free zone, this article will provide you with all the necessary information.

What is Twofour54?

Named after the geographical coordinates of Abu Dhabi, this freezone was established to promote Abu Dhabi’s media and entertainment industry. The authorities founded this freezone to create an ecosystem where industries can network, collaborate and thrive by leveraging its facilities and benefits.

There are 3 key pillars for which Twofour54 is known. They are:

• Twofour54 Tadreeb (The training academy).
• Twofour54 Ibtikar (Innovation and support).
• Twofour54 Intaj (State-of-the-art production facilities).
   

Benefits provided by Twofour54 Free Zone

Analysing the benefits offered by this freezone can help you plan an effective business strategy for your company. Let us look at them:

• Financial Benefits

You can avail a 30 percent rebate on production expenses from the Abu Dhabi Film Commission. You can also reduce financial burden as there are no minimum share capital requirements, licensing fees and security deposits for employee visas.

• Strategic Location

Being in close proximity to the Dubai Airport, this freezone provides tactical trade routes to the MENA region. Moreover, as an entrepreneur, you can avail plenty of conveyance facilities given the proximity of twofour54 freezone to downtown Dubai.

• Tax Benefits

Business owners can enjoy more profit retention due to tax exemption from corporate tax, whereas individuals enjoy a surplus of disposable income due to income tax exemption.

• Networking opportunities

Regular events with partners and stakeholders in Abu Dhabi allow you to network with highly skilled technical staff and collaborate with them. Additionally, the twofour54 freelance relations team allows you to connect with numerous media and entertainment partners.

Facilities in Twofour54 Freezone

Let us look at the facilities you can avail during your company incorporation process:

• Strong and safe IP framework policies.
• Access to exclusive briefs from government entities.
• Modern infrastructures with uplink and fibre connectivity that can be customised as per your needs.
• State-of-the-art studios and post-production facilities.
• On-campus seminars and roadshows .
• Sales and marketing support.
• Serviced and fitted office spaces at competitive prices.
   

Types of Licenses Offered in the Free Zone

The twofour54 media zone allows various business activities such as advertising, media consultancy, software design, journalism, event management, post-production services and many more. However, to conduct these activities, choosing an appropriate license is necessary. Let us look at the available licenses in this freezone:

1. Commercial

If you want to partake in specific activities related to trade, import-export or carry out other commercial operations, you need to avail this license.

2. Professional

A professional license allows you to provide services in particular industries by leveraging your skills, knowledge and expertise.

3. Freelance

A freelance license, also known as a freelance permit, allows you to function as a self-employed individual without the need of having a physical office space. You also get exemptions from other legalities.

How to Set Up a Business in Twofour54 Media Zone?

To thrive in the creative business environment of the twofour54 zone, you need to adhere to the following procedural steps.

Step 1- Select an appropriate business structure depending on the chosen business activity and the available resources.

Step 2- Determine a unique trade name and submit your business plan to the media zone authority.

Step 3-  Complete the documentation process by signing the required commercial, legal and regulatory deeds and forms.

Step 4- Once the payment (if applicable) has been completed, you will receive the relevant business license, UAE certificate of incorporation, Memorandum of Association (MoA) and a Flexi-Desk/Office Rental Agreement.

Why Commitbiz?

Twofour54 Freezone has attracted a lot of foreign investors due to the benefits it offers. If you wish to fulfil your dream of incorporating your company within this freezone, Commitbiz LLC can make it happen. Our business setup consultants provide the best solutions to ensure that entrepreneurs like you can transform their business dreams into reality. Contact us today. We’d be happy to assist you.