In today’s highly challenging business environment, coupled with pandemic concerns, Abu Dhabi’s free zones are striving to improve the atmosphere for new enterprises by offering affordable fees and packages. Masdar City free zone, the region’s center for innovative and sustainable technology, has announced the launch of new business package choices for new and current companies based there. And also, in addition to Emirati Women’s Day, several unique packages for all women entrepreneurs have been unveiled to encourage women-led businesses to develop in the Emirate.
Masdar City is implementing new business packages with license fees ranging from Dh1,000 to Dh12,000 in order to attract potential businesses and support existing ones in its free zone. As it prepares for the ‘year of the 50th’ of economic growth, Abu Dhabi has announced various steps to increase the ease of doing business and its worldwide competitiveness. Because the licensing costs for Packages A, B, and C are Dh1,000, Dh7,000, and Dh12,000, respectively, the new Masdar City Free Zone license packages offer unique flexibility that allows firms to adjust to their business requirements. Masdar City will grant one visa under Package B and two under Package C.
“With the recent government notice to ease the business environment, Abu Dhabi’s position as an attractive global hub that promotes economic diversification, empowers global talent and supports the emirate’s sustainable development is further reinforced,” said Abdulla Balalaa, executive director of Masdar City.
Free zones in Abu Dhabi provide a variety of advantages, not least of which is easier market entry, but also include a list of industry-specific activities and access to infrastructure such as seaports, airline terminals, and warehouses.
The number of female-owned limited liability companies is growing as a result of strong government support for initiatives such as female-only set-up packages in free zones, as well as Emirati Women’s Day in 2021 will be themed “Women: Ambitions and Inspiration for the Next 50 Years.” Back in 2017, the UAE government pledged $50 million to the Women Entrepreneurs Finance Initiative fund and has introduced several initiatives to further encourage female entrepreneurship, including the Abu Dhabi Businesswomen Council, in order to achieve the UAE government’s goal of greater gender equality and successful sustainable development. Also, women account for around 70% of university graduates and 44% of the total workforce in the UAE. These figures demonstrate why women are critical to the UAE’s economic future.
Balalaa added “Masdar city provides a unique ecosystem for women, who not only have the opportunity to study, but also the option to establish a business here and become part of an international network of innovators. With these kinds of opportunities, Masdar City Free Zone is an excellent location for women to set up their businesses.”
There have never been better possibilities for entrepreneurs or investors, regardless of gender to establish businesses in the Masdar city free zone. Masdar City’s cutting-edge technology infrastructure, world-class amenities, and relaxed investment rules provide a favorable environment for businesses to operate freely.
Masdar City Free Zone established in 2008, is an excellent option for starting a business. With many of the benefits, including 100% foreign ownership of businesses, which eliminates the need for a local partner, a low-cost operating environment, full repatriation of capital and earnings, and exemption from import, export, and personal taxes, Masdar city is home to approximately 400 businesses.