Established in 2006 by a subsidiary of the Mubadala Development Company, Masdar City is one of the most famous eco-development projects in the world. Masdar City also operates as a free zone and its best advantage is the close proximity to Abu Dhabi. Masdar City is a world leader in renewable energy. Foreign investors setting up companies in Masdar City will benefit from the following advantages:
- exemptions from the corporate and income tax,
- a one-stop-shop for company incorporation in Masdar City,
- full foreign ownership,
- no taxes on imports.
Obtaining a business license in Masdar City is quite simple and cheap. Our agents in Dubai can help you with the company registration procedure.
Business licensing in Masdar City
Investors establishing companies in Masdar City are required to abide by the Masdar City companies registration regulations which require them to obtain a business license before starting trading. Commercial licenses are issued by the Masdar Free Zone Authority. Also, enterprisers are also required to conclude a leasing contract for a property in Masdar City before the license is issued. The documents required for business licensing in Masdar City are:
- a business plan,
- the company’s memorandum and articles of association,
- submit a bank reference letter as proof of the deposited share capital,
- copy of the lease agreement.
A commercial license is issued within five days and has a one-year validity period. It may also be renewed upon expiry.
Available types of companies in Masdar City
There are three types of companies, foreign investors may establish in the Masdar City Free Zone:
- limited liability companies with a corporate shareholder,
- limited liability companies with a natural shareholder,
- branch offices.
Investors opening branch offices in Masdar City are not required to deposit a pre-established share capital, but when setting up a limited liability company one must deposit a minimum share capital of 50,000 AED (approximately 14,000 USD).
All types of companies are allowed to hire both local and foreign personnel. In case of foreign employees, a work permit must be obtained first.
For complete company registration and accounting services in Masdar City Free Zone, you may contact our company incorporation agents in Dubai.