Established in 2008, Abu Dhabi Media Free Zone, also known as TwoFour54, is a leading media and entertainment hub in the United Arab Emirates (UAE). TwoFour54 spans over 3.3 million square feet and has numerous creative studios, production facilities, and offices. One of the key advantages of operating within the Abu Dhabi Media Free Zone is the attractive incentives and benefits it offers. These include –
- 100% foreign ownership
- Zero personal income tax
- Streamlined visa processing
- 100% repatriation of capital and profits
The ADMFZ was officially launched to provide a dedicated platform for media companies to establish and expand their operations in Abu Dhabi. It currently encompasses over 400 companies operating in the creative industry including international brands like Disney, Fox Networks Group, and CNN.
The UAE entertainment industry is projected to expand at a CAGR of 9.0% from 2021 to 2028. This indicates a growing trend towards digital entertainment consumption in the UAE. Abu Dhabi Media Free Zone, along with other key players in this zone is expected to capitalize on this trend by providing amazing opportunities for new companies to set up while providing innovative digital entertainment experiences.
How to Set Up A Company in abu Dhabi Media-Free Zone
Formation of a company in a Media Free Zone is a complex process as one needs to understand and go through various legal requirements, obtain necessary permits and licenses, adhere to specific regulations, and fulfil administrative formalities. So, working with a company setup service provider is the best investment to overcome the complex steps of company formation that include –
- Choose a suitable business structure that aligns with your needs and regulations of the free zone.
- Here business structure refers to, Free Zone Limited Liability Companies (FZ-LLC), Branch Offices, Representative Offices, and Freelance Permits
- Regulations include registering with the Media Zone Authority and obtaining the necessary permits and licenses to operate legally within the zone.
- Prepare the necessary documents as required for a company setup.
- Submit your application through an authorized agent or directly to the Abu Dhabi Media Free Zone Authority.
- Obtain necessary approvals and licenses, which may include a trade license, media license, and any other relevant permits.
- Register your company with relevant government authorities, such as the Ministry of Economy and the Department of Economic Development.
- Complete the processing and payment of fees. With the approval of your application, obtain your company’s registration number and launch your business operations.
Documents Required
- Signatures of managers
- Evidence of invested share capital.
- Agreement for personnel secondment.
- Application for acquiring a business license.
- Documentation outlining the business strategy.
- Form for company registration or incorporation.
- The resolution was passed by the board of directors.
- No Objection Certificate (NOC) from the sponsor of the residency visa.
- Coloured photocopy of the passport belonging to the manager, director, or legal representative.
- Official copies of the Memorandum of Association (MOA) and Articles of Association (AOA).
Frequently Asked Question
The timeframe for setting up a Media Free Zone Company can vary depending on factors such as the jurisdiction, the complexity of the business structure, and the completion of required documentation. In some cases, businesses can be established within a matter of weeks with efficient processing.
Interested individuals can apply online through the Media Free Zone's official website or can collaborate with company setup service providers like AIMS UAE for guidance on the application process, necessary documentation, and ongoing support.
The Media Free Zone facilitates a wide range of media-related businesses, including publishing, broadcasting, film production, advertising, digital media, and more.
