‘twofour54’ is a media-based Free Zone in Abu Dhabi, located near to central Abu Dhabi, the international airport and Yas Island. Named after the geographical co-ordinates of Abu Dhabi (24° North, 54° East) it offers competitive economic benefits for companies such as simple licensing and business set-up services, and 100% company ownership in a stable environment.
The twofour54 Free Zone currently encompasses over 400 companies operating in the creative industries, from international brands such as the CNN, Sky News Arabia and Cartoon Network Studios through to a wide range of small to medium size companies.
The distinctive ‘Freelancer’ licence provides access to a vast pool of media professionals ready to add value to all businesses that setup in the Free Zone. The Free Zone now has a talent pool of around 4,000 professionals, including over 600 freelancers.
The twofour54 Free Zone offers a campus environment with facilitated business networking, state-of-the-art infrastructure, on-site vocational media training, world-class studio production and post-production facilities supported by technical staff, a strong IP protection framework and a critical mass of sector knowledge and talent.
The ‘twofour54 connect’ online portal provides the latest information about news and events at twofour54, facilities and services, as well as any new partners and freelancers that have joined. It is also home to the ‘twofour54 briefing room’, a free online service for matching and connecting clients with media agencies and specialists from the hundreds of expert service providers available at twofour54, as well as providing twofour54 partners with exclusive access to Abu Dhabi government contracts.
The Media Zone Authority is responsible for overseeing all regulatory and licensing aspects of the Free Zone, which includes developing, and ensuring compliance with, the regulations, codes and policies and procedures, as well as registering and licensing companies, branches and sole proprietors (freelancers). It further develops initiatives and events to facilitate business integration, networking and collaborative development.
Key features of twofour54 Free Zone
- 100% company ownership
- No restriction on capital repatriation
- 0% import tariffs
- 100% exemption from personal income tax and corporate taxes
- 30% cash rebate on international film and TV production spends
- No minimum share capital requirements for the entity to be registered
- No security deposit payable for required visas.
- Free Zone Limited Liability Company (FZ-LLC) – An FZ-LLC is an independent legal entity that allows for individual shareholders/corporate shareholders or a mixture of both.
- Branch – A Branch Company is a legally dependent part of a foreign company or existing free zone entity, which must therefore follow the business activity/licence of its parent company.
- Sole Proprietor (Freelancer) – This low cost licensing option allows an individual to work in his/her personal capacity as a freelance media professional within the Free Zone. Individuals may take the licence for either six or 12-month periods.
- Start-Up – This unique scheme allows individual entrepreneurs and start-ups to accelerate their growth whilst minimising costs. Companies can obtain a licence within the Free Zone without the need to rent a physical office.
- Flexi Desk (Shared Office) – Hot desks that provide companies with everything needed to run their business from the Free Zone (Visa allocation – 2).
- Serviced Offices – Fully operational offices of 10m2 and above that are suited to small and start-up companies of up to eight employees. Each office is a self-contained unit with full access to the twofour54 facilities (Visa allocation – 2).
- White Label/Fitted-Out Offices – Offices of 35m2 and above with basic fit-out permitting occupiers to provide their own furniture and equipment (Visa allocation – 1 per 10m2).
- Core and Shell Offices – Offices of 200m2 and above permitting companies to create their own unique office environment, which can be tailored to meet their specific business needs (Visa allocation – 1 per 10m2).
Types of business entity available for set-up
There are four options to set up in the twofour54 Free Zone:
Types of business premises available