Twofour54 in Abu Dhabi was established in the year 2008 to provide a business hub for local, regional and international media companies. It is a media free zone set up by the Media Zone Authority (MZA) to position Abu Dhabi as a regional center of excellence and a prominent player in the Arabic media content creation industry. MZA aims to 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.). Additionally, Twofour54 supervises the implementation of the operational policies and strategies in the free zone. Prominent media houses like Thomson Reuters Foundation, CNN, Financial Times, BBC, etc. have set up their operations in Twofour54. It also has a talent pool of nearly 4,000 professionals, including 600 freelancers.
There are 3 major key pillars through which twofour54 delivers its advanced infrastructure for setting up business in Abu Dhabi free zones. They are:
- Twofour54 Tadreeb (the training academy)
- Twofour54 Ibtikar (innovation and support)
- Twofour54 Intaj (state-of-art production facilities)
It is supported by business enabler twofour54 Tawasol (one-stop-shop).
Types of Business Setup in TwoFour54
There are 4 types of business structures available at twofour54 Abu Dhabi media free zone:
1. Free Zone Limited Liability Company (FZ-LLC)
It is an independent legal entity which includes independent shareholder(s), corporate shareholder(s) or a mixture of both.
This allows individuals to operate as a freelance professional in the twofour54 media zone and entertainment hub.
3. Branch of a Company
A branch is a representation of an existing company in the UAE or a foreign company operating in one of the jurisdictions in the UAE.
A start-up can be chosen by an entrepreneur wanting to start a business in digital content creation and/or content production for TV, web and cinema.
Business Licensing Segments in twofour54
Twofour54 focuses on media and entertainment organizations and issues license primarily for the following segments:
Key Benefits of Setting Up a Business 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 twofour54 free zone is quite simple. The first step is to select a business structure available for registration. Freelancers may also apply for a license which would grant them the right to operate as a freelance media professional. Additionally, the Media Zone Authority issues a special license to foreign enterprises that want to start a digital content creation and audio/video production company. To set up a business in twofour54, you can follow the steps given below:
- Fill the application form mentioning the proposed 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 form
- Copy of business plan
- Passport copies of the shareholders
- Your photograph on a white background
- Name and activity approval
- Bank reference letter
- Curriculum Vitae (CV) stating a summary of one's professional history, for a freelance license
All the documents must be signed in front of the free zone authority. Here is a comparison chart for you to decide on the type of business setup you want to start:
|Setup Type||License Fee (in AED)||Registration Fee||Office Space|
|FZ-LLZ||15,000||3,500||Starting from 50,000 per annum|
|Branch||15,000||3,500||Starting from 50,000 per annum|
|Serviced Desk||15,000||3,500||30,000 per annum (+2500 as security deposit)|
|Freelancer||6 months- 2,250
12 months- 4500
|N/A||Virtual (free access to hot-desk)|
Why Set Up a Company in twofour54 Free Zone?
Twofour54 offers many incentives to entrepreneurs and small start-ups willing to set up their business in the free zone. They strive to facilitate the growth and development of the Abu Dhabi media industry through the implementation of transparent, productive, consistent and effective regulation which shall contribute to Abu Dhabi’s GDP. They provide a complete range of services that help a business drive forward.
1. 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.
2. Business Ecosystem
They offer an on-site vocational media training related courses as well as tailored training solutions for the organization.
They have a safe, friendly and stable working environment in the proximity of Downtown Abu Dhabi, the port and the international airport.
4. Networking and Business Opportunities
They have access to business facilitation services such as on-campus seminars, road shows, etc. They also conduct quarterly networking events 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. Business setup is not an easy task and therefore it is advised to have assistance from business experts who will guide you through every part of the application, ultimately ensuring the entire process requires little more than few hours of your time. If you are looking for a reliable partner for a hassle-free company set up in twofour54, do contact our specialized team of business advisors for assistance.