Company Formation At TwoFour54
Company Formation in TwoFour54
Creating a corporation in Abu Dhabi’s TwoFour54 Free Zone is an excellent way for entrepreneurs to advance their media-related enterprises. In 2008, the free zone was formed with the goal of supporting Abu Dhabi’s media industry. The Media Zone Authority (MZA) effectively regulates the TwoFour54 Free Zone to boost Abu Dhabi’s status as a prominent player in the flourishing global media business.
The TwoFour54 free zone provides entrepreneurs with a once-in-a-lifetime opportunity to establish a shop near some of the world’s most recognized players in the media and publishing industries, including the BBC, Financial Times, National Geographic, and others. One of the key advantages that enterprises experience in the TwoFour54 free zone is its proximity to the Arab world. TwoFour54 has built a thriving community where people can experiment, cooperate, and create.
Some of the top personalities in the media and entertainment world are a part of its thriving network. They often offer unmatched operating benefits and comprehensive assistance resources to help your business flourish. With 0% corporate and income tax, 100% business ownership, and entirely waived license & registration fees (for the first two years), they not only give appealing economic benefits, but they also offer unparalleled operational advantages and extensive support programs to help your business thrive. There has never been a finer time to set up business in Abu Dhabi.
Benefits Of Company Formation At Twofour54
• 100% ownership of the business
• The Media Zone Authority charges no licence or registration costs, and there are no minimum share capital requirements.
• Setup is simple and quick.
• Office spaces that are cost-effective
• Studio and post-production facilities of the highest calibre
• IP protection is strict.
• Infrastructure, uplink, and fibre connections are all excellent.
• Online Briefing Room accessibility
Twofour54 Abu Dhabi - Types Of Company Formations Available
1. Limited Liability Company in a Free Zone (FZ-LLC)
Individual shareholders, corporate shareholders, or a combination of both individual and corporate shareholders make up a FZ-LLC, which is a separate legal entity.
2. Freelancers (for individuals only)
Individuals can use the Freelancer Licensing to work as a freelance media professional (single proprietor) only within TwoFour54 media & entertainment hub.
A branch is a symbol of a UAE-based or foreign company that is incorporated under a different authority or free zone.
4. Entrepreneurial ventures
Particularly entrepreneurial start-ups in the business of digital content creation (mobile, internet, device content) and A/V content production for TV, web, and cinema are eligible for this choice.
List Of Business Activities Permitted In Twofour54
When applying for a licence in the TwoFour54 Free Zone, you must first choose a business activity. Advertising, broadcasting, and publishing are only a few of the activities. The following is a list of a few of the important activities:
• Gaming Development
• Broadcasting of TV/ Radio
• Content Management and Monitoring Services • Content Portal Management • Content Production • Digital Content Production
• Content Production – Publications
• Marketing and Communications
• Media Research Services
• Media Training
• Music Production and Recording
• News Gathering Services
• Post-Production Services
Step By Step Guide To Setting Up A Company in TwoFour54 Free Zone
Step 1: Apply for a License - You must submit your application online. The procedure is simple and quick. For this, you require:
• a copy of your current passport
• Colourful, Digital photo at passport size with just a white background
• The applicant's/manager’s resume
• 2 professional references are required.
• A letter of intent (LOI) from a business partner in the TwoFour54 free zone. If the applicant or firm does not even have a letter of intent, the applicant or company must provide a business plan.
• Profile of the individual
• Experiential Learning
• Revenue Estimates Following the submission of all the above-mentioned papers to the Authority, the application form and documents are evaluated, and following approval, a notification is sent to fulfil the remaining procedures.
Step 2: Fee Payment and Visa Processing - The next step is to submit the necessary fees and begin the visa application procedure.
Step 3: Obtain a freelance licence — The Authority would then issue a two-year business licence and visa (the Visa can be converted into a residence visa).
Also Read About Offshore Company Formation In Dubai
FAQs: TwoFour54 Abu Dhabi
• Residency visa is valid for a period of two years.
• World-class production and post-production facilities are available to you.
• Programs for talent development and training
• 14,000+ members in the youth community
Individuals must submit an application with all required documentation to obtain a freelancer licence in the TwoFor54 Free Zone. Submission of the following documents is required:
• a copy of your passport
• 2 professional
references Passport-size digital photo (with contact details)