A free zone formation is a gift for foreign companies using Abu Dhabi as a gateway to the Middle East and Africa. A free zone company is exempt from tax, with access to cheap labor, and allows residency visas for staff and company owners. Free zones in Abu Dhabi are suitable for foreign companies intending to use the United Arab Emirates and Abu Dhabi as a regional manufacturing or distribution base, with the bulk of their business conducted outside Abu Dhabi. Free zones are mainly for export and import-oriented companies that only require an office for a company formation in Abu Dhabi.
Most of the Abu Dhabi free zones are committed to a single type of industry or business. This also proves true for the Industrial City of Abu Dhabi (ICAD) which is dedicated to all kinds of industries. ICAD Free Zone in Abu Dhabi is the production of ZonesCorp, an industrial development organization of Abu Dhabi. ZonesCorp is in the procedure of construction of a few more free zones as well. This organization was established in Abu Dhabi in the year 2004 and is now considered the largest operator of free economic zones in the UAE.
Each cluster in the ICAD zone has a state-of-the-art infrastructure and benefits from reliable utility and communication networks. ICAD offers access to fully-developed roads, storage, and logistic hubs, and easy access to multiple ports and airports. Market connectivity is easily attainable by land, sea, and through more than 200 air routes from Dubai and Abu Dhabi.
Industries Available in ICAD
They are mentioned as under –
- Generic industries
- Engineering and Metals
- Oil and Gas service
- Construction materials
- High Tech industries
- Advanced Factory units
- Chemical and Plastic
Existing Zones in ICAD Abu Dhabi
- ICAD I – It includes heavy manufacturing, engineering, and processing industries, including metal products, construction materials, fiberglass, and plastics assembly.
- ICAD II – It includes light to medium manufacturing, engineering, and processing industries, including wood processing, engineering, oil and gas, construction materials, and chemicals.
- ICAD III – It includes light-to-medium engineering and processing business with an international focus. Wood processing and engineering, construction materials, chemicals and plastics, food and textiles, and high-tech industries.
- ICAD IV - This is for industries that focus on technology and light manufacturing.
- ICAD V - This is for industries that focus on automotive or automobile manufacturing.
Business Setup in ICAD Free Zone Abu Dhabi
Company setup in Abu Dhabi Industrial City is higher for industrial and manufacturing-oriented companies. Every business sector in the ICAD has top-notch infrastructure, excellent transport connectivity, and unique communication facilities.
The steps for starting a business in Abu Dhabi or ICAD in particular are –
- Determine the economic activity of your business. It will help in finalizing the license
- Determine the legal form of business. The free zone mostly has corporate structures like a free zone company, free zone establishment, or a branch office
- Register your trade name which is unique and does not resemble any established company in the UAE
- Once you get the trade name certificate, get initial approval from the ZonesCorp Authority
- After this start the registration by filling out an application form and submitting the required documents to the free zone authority
- Acquire additional approvals from other authorities if your business activity needs it
- The last step is to obtain a license and Certificate of Registration by paying the required fees
The documents required under step 5 are –
- Proof of trade name reservation
- Initial Approval from ICAD Authority
- Passport copies of all shareholders
- Passport and CV copies of the appointed manager
- The business facility lease agreement
- Information sheet of all shareholders and the general manager
- POA (notarised and attested) – appointment of the legal representative
- Board resolution indicating the intention of company formation in ICAD
Many investors invest in businesses in the Abu Dhabi free zone due to the benefits that they reap from it. However, going through the exact process is the key to a successful company formation in the ICAD-free zone. There are many business setup advisors you should approach to ensure that the business formation in ICAD is hassle-free and straightforward. We at Business Setup Worldwide are here just for that. Contact us today- we’d be happy to help you with your new venture.