Masdar City Free Zone
Masdar City, a global hub for clean technologies and renewable energy, is a 6 sq. km free zone located beside Abu Dhabi International Airport. It was established in 2006 with the aim of fostering sustainable economic development and related research. Masdar City offers a business-friendly atmosphere for companies looking to venture into the field of clean technology, while providing all the benefits typically associated with a free zone.
Cost-effective and commercial initiatives shape the business environment of Abu Dhabi, the capital of the United Arab Emirates (UAE). The establishment of free zones helps investors take advantage of different business policies, such as tax optimisation and company ownership catering to various industrial sectors. One such free zone is the Masdar City free zone.
Numerous business sectors are operating in this free zone, including oil, gas, energy, clean tech, information technology, and many more. This free zone comprises four components focusing on different aspects:
- Masdar Power - focuses on power projects
- Masdar Carbon - emphasises providing clean development and carbon storage facilities
- Masdar Institue of Science and Technologies - focuses on research and education
- Masdar Venture - provides clean energy sources and environmental services
How to Register a Business?
You have to go through the specific below-mentioned procedure to start a business in the Masdar City free zone:
Step 1: Determine the suitable legal structure based on the type of activity your company will carry out.
Step 2: Select a trade name and register it with the authority complying with all the regulations.
Step 3: Fill out the application form to reserve the name of your company at the Abu Dhabi Department of Economic Development.
Step 4: Prepare all the required documents, including a Memorandum of Association (MOA) with others and submit them for review.
Step 5: Pay the initial amount in the bank where you want to open an account.
Step 6: Pay the registration fee and avail of the Masdar free zone license to conduct business operations.
Step 7: Sign the leasing documents to issue the license and incorporation certificate.
Required Documents for Submission
You have to submit certain documents to open a company in the Masdar free zone. These include:
- Copy of business plan
- Copy of the Commercial Registration from the Department of Planning and Economy
- Original copy of Memorandum and Articles of Association (MOA/AOA)
- Copies of identity proof of all the managers and directors
- Proof of share capital
- Notarised and legalised copy of Board Resolution
Benefits of Company Formation in Masdar City Free Zone
The advantages of setting up a company in Masdar City are:
- 100 percent company ownership
- No restriction on the repatriation of capital or profits
- Full exemption from income and corporate taxes
- No currency restrictions
- No import tariffs
- State-of-the-art infrastructure with a highly progressive and research-oriented environment
Avai BSW Assistance
Business Setup Worldwide is at your disposal for company formation in Abu Dhabi. Our team of experts is here to ensure you have the ideal environment for setting up your business. Extensive domain know-how, regional knowledge, cutting-edge infrastructure, client-centric systems, and operational transparency are the hallmarks of the company formation process in Abu Dhabi, and we strive to provide the most congruous business solution for your needs. Contact us for more information.
