Abu Dhabi’s flagship free zone Twofour54 was introduced to make the emirate a capital of content creators and media-related businesses. The rapid growth of the free zone shows that Twofour54 has succeeded in achieving the goal by attracting a large number of foreign investors every year. The process of business setup in Twofour54 is highly flexible, and the free zone attracts global investors with its progressive regulations, strategic location, and excellent business support services.
Nearly all the major media players (CNN, Sky News Arabia, Image Nation, Bidaya Media and Flash Entertainment) have set their base in Twofour54, lured in by its customisable office space, sophisticated production facilities and services, talent development and training programs etc. Twofour54 is home to startups, SMEs and freelancers who take advantage of the free zone’s immense possibilities and the opportunity to network with the industry bigwigs. Above all, the investors get the golden opportunity to open a company in Abu Dhabi, which is the UAE’s capital city and the largest emirate. Nowadays, it is easier to set up a company as the services of business setup consultants in UAE are readily available.
Types of Businesses in Twofour54 Free Zone
Entrepreneurs can start with the process of business setup in Twofour54 by understanding the types of legal entities recognised by the free zone. A legal structure implies the type of company defined by the total number of shareholders it constitutes. The following types of businesses are permitted in the Twofour54 free zone:
Free Zone Limited Liability Company
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A Free Zone Limited Liability Company (FZ-LLC) is the most common form of company structure recognised by the Twofour54 free zone. An FZ-LLC can be established in Twofour54 with 2-50 shareholders. The shareholders can be individuals, corporate groups or a mixture of both. If in doubt, consult with business setup consultants in Abu Dhabi to shed more light on the legalities.
Branch of an Existing Company
Twofour54 permits the formation of branch offices within its premises for companies planning to expand into Abu Dhabi. Both UAE-based and foreign companies are allowed to set up their branches in the Twofour54 free zone. However, the activity of the branch should be consistent with that of the parent company. Branch formation can be made easier by availing of the best business setup services in Abu Dhabi.
Individuals who wish to work for themselves can obtain a freelance permit in Twofour54 and work independently. The freelancer can register their birth name in the free zone instead of a company name. The freelancers in Twofour54 are entitled to modern Flexi-desk facilities and the opportunity to collaborate with like-minded professionals. Business setup consultants in Abu Dhabi can guide the individuals on the legal requirements for obtaining the freelance permit.
Facilities Available for Business Setup in Twofour54
World-class facilities are available in Twofour54 to facilitate the ease of doing business for media production companies and startups. The facilities are designed to promote innovation through collaboration, mentorship and networking. The facilities in Twofour54 enable entrepreneurs to make positive changes to the landscape of media and entertainment businesses in the region. Here is a list of facilities in the Twofour54 free zone:
Twofour54 offers HD studio facilities for companies engaged in media production. There are seven broadcast-ready studios in the Twofour54 free zone, equipped with facilities such as a production gallery, a comfortable green room and make-up and dressing rooms etc. The studios are supported by in-house staff deployed by the free zone. All studios in Twofour54 are soundproofed with full saturation lighting rigs, soft ‘cycs’ and 4×4 m ‘elephant doors’ for drive-in access.
Twofour54 free zone has a 300,000 sqm backlot that offers a wide array of sets and facilities for any type of production. The backlot includes costumes, make-up and dressing rooms, a large canteen, and purpose-built production offices. Business setup consultants in Abu Dhabi can advise the investors on selecting the right facilities.
Twofour54 free zone’s world-class edit suites have helped it earn the title “Post Production House of the Year” multiple times by Digital Studio magazine. Edit Suites in Twofour54 provides the businesses with multi-use post-production facilities dedicated to high-end finishing, compositing and colour grading for work up to 4k.
The screening room in Twofour54’s offers 16 superior quality raked seats. Features of the screening room include true 4k cinema projection, and Dolby surround sound.
Media companies can have meeting rooms and event venues close to their offices in Twofour54. The capacity of the meeting rooms in Twofour54 varies from 5 people to 200. Companies can efficiently conduct business meetings and press conferences in these meeting rooms.
Shop and Eat
Twofour54 is not just a place to work; the free zone offers other facilities such as restaurants, coffee shops, convenience stores, banks & ATMs, gyms and efficient public transport.
Twofour54’s #thelab is a creative environment where professionals can work, meet, and connect. It is a place where entrepreneurs can run workshops, work on a project using the latest equipment, or just hang out in the lounge.
Business Activities Twofour54 Free Zone
Choosing an activity is the most important aspect associated with the process of business setup in the Twofour54 free zone. Business activities in Twofour54 include lucrative segments such as content production, publication and other media-related services. Business setup consultants in Abu Dhabi can help the investors choose the right activity. The free zone offers a wide range of activities such as the following:
- Corporate Film production
- Digital content production
- Film production
- Gaming development
- Graphic design
- Mobile media
- Music production and recording
- Music videos
- Online electronic content production
- Performing arts and theatre
- Print content production
- Radio content production
- TV production
- Web design and development
- Branding Agency
Process of Business Setup in Twofour54 Free Zone
The process of company formation in Twofour54 is generally straightforward. Investors who wish to expedite the process can seek the help of business setup advisers in Abu Dhabi. The process of business setup in Twofour54 can be completed in the following steps:
- Submission of business form
- Obtain approval for company name & activity from Twofour54
- Obtain regulatory signature from Media Zone Authority, Abu Dhabi
- Issuance of License
Benefits of Company Formation in Twofour54 Free Zone
Investors that apply for a trade license in Twofour54 are entitled to the following benefits:
- 100% company ownership
- 0% income tax
- 0% corporate tax
- No minimum share capital requirement
- World-class production facilities
- Strong Intellectual Property (IP) framework
- Premium address in Abu Dhabi
- Strategic location giving direct access to the Middle East markets
- Just 20 minutes from Abu Dhabi airport and 50 minutes from Dubai
Compliance Requirements in Twofour54 Free Zone
Complying with regulatory requirements is mandatory for doing business in Twofour54 without any hassle. Investors should assess their compliance status in relation to regulations such as Economic Substance Regulations (ESR), Ultimate Beneficial Ownership (UBO), and Anti-Money Laundering and Combatting Financing of Terrorism (AML-CFT) laws.
Even businesses undergoing company liquidation in Twofour54 must ensure compliance before submitting the final liquidation report. Companies that fail to comply with such requirements will face the consequences such as hefty penalties, reputation damage and suspension of trade license. Companies that have availed of business setup services in UAE can easily ensure compliance and avoid penalties.
Avail of the Best Business Setup Services in Abu Dhabi
Twofour54 is a premium free zone enabling a state-of-the-art ecosystem for media and entertainment businesses. The flexible process of business setup in Twofour54 is steadily attracting big corporate groups, SMEs, startups and freelancers. However, the assistance of business setup consultants in Abu Dhabi, such as Jitendra Business Consultants (JBC), is essential for foreign investors to navigate the complex licensing procedures.
JBC is a leading provider of bespoke business setup services in Abu Dhabi and across the UAE. Our business setup consultants in the UAE are well-versed in the country’s immigration and labour laws. JBC’s knowledge of the company incorporation laws helps the investors to easily register a business in the Twofour54 free zone. JBC can help entrepreneurs with selecting the activities, determining a company structure, drafting documents, opening a bank account, applying for UAE visas, and complying with ESR, AML-CFT & UBO. Call us today to start a company anywhere in the UAE hassle-free.