Overview of Masdar City in UAE
Masdar City is a sustainable urban development and economic free zone that acts as a "green print" for future cities. It combines traditional Arabic architecture with cutting-edge technology to achieve maximum energy efficiency. Masdar City would eventually house 40,000 people and 50,000 commuters.
The Free Zone is crucial in attracting enterprises to Masdar City. The Free Zone, as a business cluster, provides businesses with a complete business setup package, including commercial office space, business registration, and licencing.
Masdar has two investment vehicles to pursue clean, renewable energy development. Masdar Sustainable Energy develops some of the most advanced and financially viable clean energy projects in the world. It creates roughly 1 gigawatt of renewable energy by focusing on established solar and wind technologies. By 2020, Masdar Clean Energy hopes to boost that to 1.5 gigawatts. Masdar Special Projects focuses on small and medium-sized projects in typically difficult environments and locations. It has completed 14 projects in five countries and is now working on 13 more in nine nations.
MASDAR City freezone, in Abu Dhabi, is the primary location for enterprises involved in the oil and gas and energy industries. The Dhanguard team has experience registering businesses in Masdar City and obtaining the necessary government approvals.
Masdar Free Zone was named the 2016 Best Free Zone for R&D Partnerships by FDI Magazine, as well as one of the Best Middle East Free Zones for Start-Ups and Large Companies.
Masdar City is divided into four major sections, each of which focuses on a particular aspect:
- Masdar Power is in charge of Masdar City's power project as well as other projects in the United Kingdom and Seychelles.
- Masdar Institute of Science and Technology is a non-profit educational institution specialising on alternative energy sources.
- Masdar Carbon focuses on carbon capture and storage initiatives and clean development mechanisms.
- Masdar Venture Capital is a fund dedicated to the development of sustainable energy and environmental services.
Features of Masdar City Freezone Company Formation
- 100% foreign ownership.
- Corporate and personal income taxes are completely excluded.
- Import tariffs are zero percent.
- Setup is quick and simple, with a centralised location for registration, government relations, and visa processing.
- Capital and profit repatriation are both allowed.
- One of the most beautiful and environmentally friendly living and working communities on the planet.
- Starting point for local, regional, and global markets.
- There is a critical mass of knowledge and expertise in the area.
- Masdar Institute and the R&D Hub are collaborating.
- Licensing and office space are extremely cost-effective.
- Abu Dhabi International Airport, Khalifa City, and Yas Island are all close by, and Dubai is only 40 minutes distant.
Legal Entities of Masdar City
Companies are required to operate in conformity with the Companies Regulation. Masdar City Free Zone provides rapid and simple business registration services for three categories of legal entities:
- Limited Liability Company in a Free Zone (FZ-LLC)
- A foreign company's branch
- A branch of a locally registered corporation.
Licensing Options in Masdar City
There are a range of business clusters and business choices available in this Abu Dhabi free zone for enterprises to choose from:
- Renewable Energy
- Clean Tech and Information and Communications Technology (ICT)
- Marketing and Events
- Human Resource Development
- Energy Industry
- Healthcare Services
- Service Providers
- Property Development Services
- Regional Headquarters, Trading, and Holding Companies
- Business Centre and Data Centers
- Community Services (Retail, Food & Beverage outlets)
- Oil and Gas Services
Masdar City's Business Setup Procedure
The process of forming a corporation in the Masdar City free zone entails several procedures and the submission of necessary documents:
Registration of a name
The first step is to complete a name registration form, transmit it to the Free Zone Authority, and pay the AED 2,000 name reservation charge. After that, the paperwork must be submitted to the Abu Dhabi Department of Economic Development (DED).
License Form
Once you've received your trade name certificate, you'll be handed a licence form to fill out and submit to the authorities. Along with your business plan and other essential documents, you must submit the licencing application.
All of your supplied documentation will be reviewed by the authorities, and the Free Zone Authority will issue you an Acceptance Letter. Following the submission of documents, the full procedure could take up to three days.
Register for a bank account
You'll need to open a bank account after receiving the Acceptance Letter. A Bank Introduction Letter will be issued by the Free Zone Authority in order to open a bank account.
Open a corporate bank account and deposit the needed minimum capital; the bank will then send you a Capital Confirmation Letter, also known as a Proof of Capital Letter.
Obtaining a Business License and Signing a Lease
The Free Zone Authority should receive the Capital Confirmation letter. After that, you can sign the Memorandum and Articles of Association (MAA). The free zone will issue the licencing agreement after receiving the Proof of Capital Letter.
Collecting the licence and completing the lease agreement would be the final steps.
Why Choose Dhanguard?
Masdar City is a designated area for technology and energy-related businesses that are backed by the government. Dhanguard will take care of your company's incorporation from beginning to end, as well as any licencing and documentation requirements. It will be our responsibility to walk you through the entire process and ensure that your company gets off to a good start. Our team of professionals can help you establish up your business in the Masdar City free zone with ease. Contact us if you need help setting up a business in Masdar City; we'll be happy to help.
