International investors can apply for a license in the Masdar City free zone if they’re finding one of the most affordable options for setting up a business in Abu Dhabi. SMEs, startups, and MNCs can grow and thrive in a collaborative environment that connects business with research and knowledge through the business setup in the Masdar City free zone. One of the most sustainable urban developments in the world, Masdar City provides a unique location for foreign investors in the Masdar City free zone.
The Masdar City free zone is a place to invest that fosters sustainability innovation by integrating business, education, R&D, and investment opportunities.
The free zone is supported by a robust global logistics and transport network and is ideally situated at the center of the Middle East and Asian markets. Masdar City provides top-notch facilities, affordable business setup packages, excellent connectivity, and a simple registration procedure. To the advantage of investors and business owners, the free zone also aims to increase the net leasable area.
STEPS TO REGISTERING A COMPANY IN MASDAR CITY FREE ZONE 2024
BUSINESS NAME REGISTRATION
The Free Zone Authority must receive the name registration form and the AED 2,000 name reservation fee. The documentation must be sent to Abu Dhabi’s Department of Economic Development (DED).
SUBMIT THE LICENSE FORM
After your name has been registered, you will receive your trade name certificate and a licensing form, which you need to fill out and turn in to the relevant authorities. The license application must be filed with your business plan and any other necessary paperwork.
After examining all of the supporting documentation you have provided, the Free Zone Authority will issue you an Acceptance Letter. It may take up to three days to complete the process after the documents are submitted.
OPEN A CORPORATE BANK ACCOUNT IN THE MASDAR CITY FREE ZONE
After you receive the acceptance letter, you will have to open a bank account. There is a different procedure in the UAE for opening a bank account. You have to contact the relevant free zone authority to open a corporate bank account. The Masdar City free zone authority would send a bank introduction letter in this situation. After opening an account, obtain a Capital Confirmation Letter from the bank, also called a Proof of Capital Letter.
GET YOUR LICENSE AND SIGN THE AGREEMENT
You have to deliver the Capital Confirmation letter to the Free Zone Authority. The next step is to sign the Memorandum and Articles of Association (MAA). After receiving the Proof of Capital Letter, the free zone will deliver the license agreement. Before obtaining the trade license, the lease agreement needs to be signed.
DOCUMENTS REQUIRED FOR BUSINESS SETUP IN MASDAR CITY FREE ZONE
The paperwork required to establish a business in Masdar City varies depending on whether a shareholder is an individual or a corporation. The basic requirements are:
- Color passport copy
- Color UAE residence visa and Emirates ID copy
- NOC from existing sponsor
- Utility bill copy
Reach out to us at Relin Consultants – Leading Global Business Set Up Partners for further assistance with your Masdar City Free Zone.
What are the tax advantages of establishing a business in the Masdar City Free Zone?
For a maximum of 50 years, businesses located in the Masdar City Free Zone are exempt from taxes, offering an important financial benefit.
Is it possible for me to own my business entirely in the Masdar City Free Zone?
Yes, Masdar City Free Zone allows you to fully own your business without requiring a local partner, as opposed to certain other free zones in the United Arab Emirates.
What are the main business activities allowed in Masdar City Free Zone?
Technology, renewable energy, education, and many other business sectors are all encouraged in the Masdar City Free Zone.
How long does it take to get a business license for the Masdar City Free Zone?
The time it takes to issue a license can vary, but it may proceed rather quickly if the proper paperwork is submitted and the rules are followed.
Is a Local Sponsor Required to Launch a Business in the Masdar City Free Zone?
No, investors can have 100% foreign ownership in Masdar City FZ, so they don’t need a local sponsor to launch a business there.
Can I Transfer My Company From Masdar City to Another Free Zone in the UAE?
No, it is not currently possible to move your business between free zones in the United Arab Emirates. To transfer to a new free zone, the current license must be canceled and a new one must be obtained from the other economic zone. Opening a branch of your current company is another method to locate within a free zone in another emirate.