Abu Dhabi Free Zones
Abu Dhabi Free zones are getting more priority among the foreign investors in UAE for their business set up. Establishing a business venture in one of the free zones in Abu Dhabi is an attractive option for foreign investors looking to tap into the huge potentials and excellent business environment offered by the Emirate. These free zones are set up as part of the Emirate’s ambitious economic diversification pursuit, and intended for spurring further foreign investment in the local economy. The free zones in Abu Dhabi mainly concentrating on areas including logistics, media and light, medium and heavy industries.
Major Free zones in Abu Dhabi
- Kizad: the Khalifa Industrial Zone Abu Dhabi (Kizad) is one of the world’s largest industrial zones. It is an integral part of govt’s Economic vision of diversifying its economy away from its dependency on oil and contributing 15% of Abu Dhabi’s non-oil GDP by 2030. Kizad offers easy access to global markets and attracts low cost of operation.
- Masdar City: Masdar is a multi faceted company advancing the development, commercialization and deployment of renewable energy solutions and clean technologies. It is place where businesses can thrive and innovation can flourish. A low carbon, renewable energy-powered development and it pioneers best practices in sustainable urban planning, design and development.
- Twofour54: it is the brand name of the Media zone authority of Abu Dhabi focused on developing world class Arabic media and entertainment content. It aims to position the capital city as a regional centre of excellence in content creation across all media platforms including film, broadcast, music digital media, events, gaming and publishing.
- ADAFZ: Abu Dhabi Airport Free Zones aim to attract local and international organizations in aviations, aerospace and airport services as well as in the logistics, cargo and freight sectors. ADAFZ has been set up adjacent to Abu Dhabi Airport.
Abu Dhabi Free zones are aim to attract and facilitate investment and remove bureaucratic barriers, procedures for establishing businesses within the free zone is simple and less time-consuming.
Advantages of Free Zones
With the intensified global trend toward trade liberalization, Abu Dhabi Government, which is keen to take the full advantage of various opportunities and challenges created by the integration into the global economy, provides tremendous support for businesses established within the free zones. It provides a multitude of incentives, such as 100 per cent foreign ownership of companies eliminating the need for a local partner, low-cost operational environment, full repatriation of capital and profits and exemption from import, export, corporate and personal taxes.
Abu Dhabi Free Zones contributing significantly to the economy of the country. It stimulate the economy by attracting foreign direct investment, generating thousands of jobs, increasing non oil exports, encouraging the setting up of ancillary industries and helping for transferring knowledge, expertise and technology to the country. Emirates Chartered Accountants Group is assisting the investors for setting up businesses in all these free zones.