Twofour54 Free Zone Company Formation
Introduction – Free Zone Focus
The Media Zone Authority (MZA) was created by Abu Dhabi Decree Law No. 12 of 2007 in order to boost the emirate in the field of media and entertainment content creation.
Twofour54, which received its name from the geographical co-ordinates of Abu Dhabi, is a world-class media and entertainment center which houses many experienced and talented media professionals.
Twofour54 promotes creativity in TV, broadcast, gaming, digital media, mobile, film, online, animation and publishing media platforms.
Today Twofour54 intaj are the leaders in production facility and production services in Abu Dhabi.
Competitive Advantages: Why Twofour54?
- Full company ownership
- Stable business environment
- Zero taxes
- Hassle free licensing and company set-up services
- Flexible licenses – 6 to 12 months trade licenses
- Experience and dedicated staff providing set-up services
- Visa, government and travel services
- Customized office space facilities
- First-class studio production and post-production facilities
- Highly experienced and specialized technical personnel available for hire
- Vocational media training
- Business and investment advice
- Operational synergies from co-location of similar industries
- HD production and post-production facilities
Twofour54 Contact Details
Sheikh Zayed Street
Eastern Ring Road
(Behind the Ministry of Labor Office and opposite Khalifa Park)
P O Box 2454
Abu Dhabi, UAE
Tel: 971 2 401 2454
Fax: 971 2 401 2345
Toll free (UAE only): 800 2454
Twofour54’s clients can set up their businesses in the free zone with three ways:
- Incorporate a free zone limited liability company (FZ-LLC) – a separate legal entity
- Set up a branch of an existing company – a branch of the parent company which has been incorporated elsewhere
- Obtain a license as a freelancer
A business license (and in some cases a dissemination license) are also needed for a FZ-LLC or a branch.
- Process for the setting up of a company
- Setting up for freelancers
- Regulatory requirements for setting up a FZ-LLC
- Regulatory requirements for setting up a Branch
Process for the Setting up of a Company
- Step One: Contact Twofour54 on on +971 2 401 2454 or by email in order to speak to a member of the Business Development Team.
- Step Two: The Business Development Team will assess the client’s business plans and give advice on what facilities are required.
- Step Three: Reservation for four weeks of the office space facilities is required by the client until procedures are finalised.
- Step Four: The client applies for a Business License and if necessary a Dissemination License as the company is in the process of being registered. The MZA Licensing Team of the Media Zone Authority can assist with this. The Media Zone Authority can also assist with the opening of a bank account. Once set up and licensing is complete, the new company can start operations in Twofour54.
- Step Five: Twofour54 assists the staff to finalise all procedures required to live and work in Abu Dhabi, such as medical cover, bank accounts, visas, housing and travel.
Setting up for Freelancers
- Step One: Complete and submit the application, together with references and documentation for Twofour54’s personnel to review
- Step Two: If the client’s application is approved, he will meet the Authority. The client needs to take his/her passport.
- Step Three: The client will meet the Authority for ID checking.
- Step Four: The client pays the license and visa fees (for non GCC nationals)
- Step Five: The license and employment visa are issued. The employment visa can be changed to a residence visa.
- Step Six: The client can commence working as a freelancer.
Regulatory Requirements for Setting up a FZ-LLC
- An FZ-LLC can be incorporated with individual shareholders, corporate shareholders or both individual and corporate shareholders
- At least two directors, one general manager and one company secretary must be appointed. The same person can fulfill all roles
- No fixed minimum paid share capital
- Share capital can be in any currency
- An FZ-LLC needs to have a registered office in the Media Zone
Regulatory Requirements for Setting up a Branch
- The Principal Company (which has been set up in the UAE or elsewhere) must indicate a decision to set up a branch in the Media Zone
- A General Manager must be appointed for the Branch
- There must be a registered office in the Media Zone
- Licensing regulations
- Twofour54’s main business units
- Twofour54 intaj
The MZA licensing team of the Media Zone Authority is responsible for the setting up, registration and licensing of companies within Twofour54.
The Authority is responsible for issuing regulations, policies and strategies as well as establishing and monitoring codes of practice within the free zone.
The following services are undertaken by the Authority:
- Establishment and registration of companies and branches
- Business licensing
- Licensing of dissemination activities
- Companies Register maintenance
- Renewals and amendments of licenses
- Ensuring consistent best practices throughout the free zone
- If a client holds a valid license and valid Authority sponsorship (for non GCC nationals) he/she can work in the media zone as a licensed freelancer.
- The license allows the client to engage in the specific business activities which are specified in the license.
- The client is allowed to apply for additional business activities to be added to the license.
- The client will need to complete a review form and provide details of the business activities which have been undertaken after the first 3 months of the license term.
- The client must have correct records, including details of work done during the license term and financial information.
- The client is responsible for having the correct medical insurance with an HAAD approved insurer.
- The licensed freelancer is personally liable for debts and other obligations he may incur in carrying out his business activities.
- The Authority can suspend, change or revoke the client’s license.
- If the license expires or is revoked, the Authority sponsorship will be terminated.
- The client may apply to the Authority for an extension of the license term.
Twofour54’s main Business Units
- Twofour54 tadreeb – the training academy
- Twofour54 ibtikar – for innovation and business support
- Twofour54 intaj – for film and television services
These business units are all supported by business enabler Twofour54 tawasol, which is a one-stop shop and Twofour54’s partner for business support.
Twofour54’s intaj was voted the “Studio of the Year” in 2010 in Middle East and North Africa (MENA) and “Post-Production House of the Year” in 2011 and 2012.
- Provision of pre-production, production and post-production full range of services
- 11 world-class high definition technology TV studios, from 280 msq to 650 msq
- Production office space for rental of various sizes
- Located in two locations in Abu Dhabi
- Studios have equipped production gallery, dressing rooms, green rooms and 4 X 4 meter “elephant doors”
- Sound proof studios
- Studios can be used as “space only” facilities or fully equipped facilities
- Highly experienced technical and creative staff
- Assistance provided for permits, approvals, crewing, casting, location scouts, logistics etc.
- 30% production rebate from the Abu Dhabi Film Commission
- Production budgeting, scheduling and planning services
- Equipment rentals
- Sound stages
- Complete set construction services
- Catering services
- Accommodation, transport and travel services
- Mobile editing services
- Labs and transfer services
- Accounting, insurance and legal services
- Shipping and storage services
- 10 post-production edit suites
- 20 TV SD/HD channel playout center
- Many benefits of using the intaj teleport and playout services for broadcasting
- Other addional services, upon request
Twofour54 provides the following options for officespace:
- Fully serviced offices which are immediately available
- White label offices, which are furnished and equipped by the client
- Shell and core offices, which are fitted out, equipped and furnished by the clients’ Property managers who can provide assistance on regulations, approvals and details on contractors.
A number of big, small, regional and international media companies have chosen to set up their businesses at Twofour54:
- The Financial Times
- Abu Dhabi Media Company
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