Twofour54 is a tax-free media and entertainment free zone based in Abu Dhabi, United Arab Emirates that facilitates the development of Arabic media and entertainment content in the region. The company works with businesses in television, radio, film, publishing, online, mobile, music, gaming and animation to create local content and grow the Arab media industry. Its name refers to the geographic co-ordinates of Abu Dhabi – 24°north by 54°east.
Twofour54 is a government-backed organization that is providing the physical and intellectual infrastructure required to create a sustainable Arabic media and entertainment hub. It offers 100% company ownership in a tax-free environment, licensing and business set-up services. It is made up of three business pillars– a media training academy; a media and entertainment industry funding and support arm; production, post production, and broadcast facilities; together with a business services department supporting new businesses setting up in the zone.
BUSINESS IN Twofour54
The MENA region is one of the world’s fastest growing media and entertainment markets with 19% growth in recent years. And with 80% of under-25s owning mobile phones and strong broadband take-up, it’s a prime opportunity for mobile businesses. Over 100 leading media companies are already capitalizing on the opportunity at twofour54º Abu Dhabi.
The campus is a free trade zone, which means that it offers attractive economic benefits for companies that become part of the twofour54° vision, such as a tax-free environment and 100% foreign ownership.
- 100% company ownership in a stable, tax-free environment
- Dedicated fund for mobile apps development via Apps Arabia
- Unique campus environment with facilitated business networking
- Advice and liaison with UAE content regulatory bodies
- Easy registration and licensing for media businesses at twofour54.
- Company and personal set-up services for your business and staff.
- Customized office space solutions for your business needs.
- World-class studio production and post-production facilities supported by technical staff. All available for hire for your production needs in the region.
Twofour54 consists of its core business units : twofour54 tadreeb (the training academy), twofour54 ibtikar (innovation and support) and twofour54 intaj (world-class film & television services) all supported by business enabler twofour54 tawasol (business support partner).
Twofour54 company type
- Free Zone LLC : A FZ-LLC is formed as a separate legal entity, with shareholders as individuals and/or entities. Each FZ-LLC is required to have at least one director.
- Branch : A branch of a foreign or a UAE company is not a legal entity separate from its parent but is considered a place of business that forms a legally dependent part of the parent company and conducts all or some of the operations inherent in the parent’s business. No share capital is required.
- Freelancer : The Freelancer Permit offers the ability to operate as a freelance professional i.e., as a sole practitioner that enables the individual to conduct business in their birth name as opposed to a brand name.
Twofour54 License type
- New Incorporation of a Dubai Free Zone Limited Liability Company (FZ-LLC)
- Branch of an Existing Foreign/UAE Company
- Freelance permit
|About the free zone||Twofour54 is a tax-free media and entertainment free zone based in Abu Dhabi, United Arab Emirates that facilitates the development of Arabic media and entertainment content in the region. It provides studio production, postproduction facilities, and vocational media training.|
|Number of companies||Over 200|
|Limited liability companies||Yes|
|Minimum number of shareholders required||1|
|Minimum number of directors required||2|
|Corporate shareholders allowed||Yes|
|Corporate directors allowed||No|
|Public register of shareholders and directors||No|
|Access to UAE Double Taxation Treaties||Yes|
|Port at freezone||No|
|Allowed to import and export goods||Yes|
|Accommodation facility||Yes in close proximity|
|Major companies example||CNN, Cartoon Network|