Business setup in TWOFOUR54 Free zone
Abu Dhabi’s TwoFour54 is a Free Zone that offers an innovative entertainment and media center so media professionals can carry out their operations from there. It receives its name from the geographical coordinates of Abu Dhabi and it’s one of the leading Free Zones in the Media Sector.
Therefore, individuals that work on gaming, digital media, film, broadcast, and other media-related sectors, can carry out the Company Formation in TWOFOUR54 so they can enter a flourishing market that gives them many opportunities to grow.
Forming a company in TWOFOUR54
Companies that work in the media sector can find in TwoFour54 an outstanding place to conduct business. Setting up an entity in this Free Zone is very simple, you just have to follow a few steps. First, it’s required to submit a business form and receive the approval for the trade name and business activity. After that, it’s necessary to submit the Security Deposit and complete the regulatory signature. Lastly, you can collect your business license.
Incorporating a company in TwoFour54 is a pretty straightforward process. It’s important to prepare the legal documentation for registering and licensing. The documents that you need are the following:
- Business plan
- Passport copy for each shareholder
- Copy of UAE Visa (if applicable)
- Application form
- Leasing of an office space facility (if required)
- Photograph with a white background
- Trade name and business activity approval
TWOFOUR54 Business Activities
When you register your company in TwoFour54, you must select first the business activity that you’re going to carry out. In this regard, it’s important to check the list of business activities permitted.
Foreign investors, entrepreneurs and freelancers that work in media-related sectors can incorporate a company in this Free Zone and obtain outstanding advantages. Some of the most popular business activities in TwoFour54 are the following:
- Media Research
- Pre-Production and Post-production
- Software Development
- Music production
- Media Training
- Public Relations
- Content Production
- Set Design
Business Licenses for TWOFOUR54
Media industry companies can find in TwoFour54 a great place from where to carry out their operations. TWOFOUR54 Company Setup is pretty simple, but it’s necessary to know which type of business license is the best for your company.
Since TwoFour54 welcomes investors, entrepreneurs and freelancers, you’re going to be able to find the best license that is according to your business activity:
- New Company License: this license is aimed for FZ-LLC companies that want to start their operations in this place.
- Branch Company License: for UAE-based or foreign companies that want to establish a branch in TwoFour54 and own it at 100%.
- Freelance License: for individuals that want to operate as freelance media professionals at TwoFour54 and enjoy from its media and entertainment hub.
- Start-up License: this type of license is only for small start-ups and entrepreneurs that want to get a license in the Media Zone. It’s restricted to content creation professionals and start-ups in digital content creation.
Benefits of doing business in TWOFOUR54
- Total foreign ownership for companies
- It offers a stable business environment
- The company set up process and licensing are pretty simple and hassle-free
- Tax-free environment
- This Free Zone offers flexible licensing options
- Access to customized office spaces and modern facilities
- First-class production and post-production facilities
- Repatriation of earnings
- State-of-the-art infrastructure
Business entities in TWOFOUR54
To Start your Business in TWOFOUR54 you must first select which kind of legal structure you want for your business. It’s crucial to understand which corporate entity suits best your business activity and legal requirements.
The types of business entities available in TwoFour54 are the following:
- Free Zone Limited Liability Company (FZ-LLC): an LLC can be incorporated in TwoFour54 with shareholders that are either individuals, corporate or both. There’s not a minimum paid share capital and it can be in any currency. An LLC in TwoFour54 should have a registered office in the Media Zone.
- Branch Company: an entity setting up in Abu Dhabi Mainland, or in another jurisdiction, whether foreign or in the UAE, can establish a branch in TwoFour54. It’s mandatory to appoint a Manager and to have a registered office in the Media Zone.
- Sole proprietorship: since TwoFour54 offers a freelance license, this is the type of entity that a freelancer can establish in this place. Media professionals should opt for this type of corporate structure.
TWOFOUR54 License costs
Business Setup in TWOFOUR54 means that you’ll have to incur in several expenses if you want to operate legally from this place. The costs will vary depending on the type of company that you want to incorporate and the type of office that you want to rent.
Here we have more information regarding the fees in TwoFour54:
- License fee: AED 15,000
- License fee for freelancer (6 months): AED 2,250
- License fee for freelancer (12 months): AED 4,500
- Registration fee: AED 3,500
- Office space: starts from AED 50,000 and for a serviced desk the fee is of AED 30,000 plus AED 2500 for security deposit.
TWOFOUR54 Innovative Facilities
Businesses in the media sector can find innovative and modern facilities in TwoFour54 from where they can carry out their activities.
Among the many options you can find in TwoFour54 are the Main Business Units. They offer several options for investors that want to establish their operations from this Free Zone, and here we have them:
- TwoFour54 tadreeb: it’s the training academy of this Free Zone
- TwoFour 54 ibtikar: here investors can find innovation solutions and business support
- TwoFour65 intaj: investors that require film and television services can opt for this option. It has received awards as the “Studio of the Year” and it offers a wide range of services, such as production office spaces for rental, sound proof studios, equipment rentals, mobile editing services and much more.
When it comes to office space facilities, investors and entrepreneurs can find a variety of options that can suit their needs, as follows:
- Fully furnished offices and serviced offices that are available for renting
- White label offices that the investors can furnish and equip.
- Shell and core offices that can offer a wide range of benefits thanks to its customization options