30% of trade licence fees waived for new companies registering at the UAE’s innovation hub during the technology week
Abu Dhabi, UAE – 18 October 2015, Masdar Free Zone, part of Masdar City, one of the world’s most sustainable and low-carbon cities, is taking part in GITEX Technology Week, being staged at Dubai World Trade Centre from 18-22 October 2015. This is part of Masdar Free Zone’s drive to bring into centre stage its unique focus on renewable energy and clean technology.
During this leading technology event, Masdar Free Zone will showcase its offering to companies planning to operate in a unique environment motivating innovation and fresh ideas in renewable energy and clean technology, the future business sectors. Masdar Free Zone is offering new companies planning to register in Masdar City an attractive discount of up to 30% off their first year trade license fees for the week of GITEX.
Besides, Masdar Free Zone will showcase the unrivalled benefits offered to existing and new tenants in the city such as sustainability measures, unique location and unmatched environment, and a quality life style to live, work, play and learn. Other advantages new companies will enjoy at the Free Zone include, to name a few: 100% foreign ownership, 100% exemption from corporate and personal income taxes, 0% import tariffs, freedom of repatriation of both capital and profits, cost-effective licensing and quick, easy setup competitive pricing and low running costs due to Masdar City building’s high sustainability measures for electricity and water consumption.
One of the refinements at the Masdar Free Zone is the streamlined approach to registering businesses at its One-stop Shop, which offers best-in-class service for companies in the renewable energy and cleantech sectors. Companies can obtain a license to start operationsand employment visas in few days.
According to Mr. Ahmed Baghoum, Director of the Masdar Free Zone, businesses are increasingly considering Masdar City because of the business-friendly environment as well as its unique focus on renewable energy, clean technology and sustainable development, making it the truly launchpad for new and innovative ideas in these sectors.
“Masdar City’s complete ecosystem integrating knowledge, research and development ensures tenants are uniquely positioned to address the rapidly-growing renewable energy and clean technology sector. Leading businesses have established cutting-edge operations focused on innovation in Masdar City. These include the GE’s Ecomagination Centre for driving innovation in clean energy, the Sustainable Bioenergy Research Consortium (SBRC), the BP and Masdar Institute Technology Innovation Accelerator”, he said.
The Siemens’ Middle East headquarters in Masdar City is the first office building in the UAE to be rated LEED Platinum for its energy efficiency and green credentials. In addition, the recently inaugurated International Renewable Energy Agency (IRENA) in Masdar City is the first to receive Four Pearls for its sustainability characteristics from Estidama, Abu Dhabi’s building rating system. Companies operating at Masdar Free Zone will also benefit from Masdar Institute of Science and Technology at the heart of Masdar City, the world’s first graduate-level university dedicated to providing real-world solutions to issues of sustainability.
“Companies are also coming to Masdar City to use its recently launched Solar Hub, the first independent solar testing and R&D facility in the Middle East, capable of providing testing, evaluation and certification of solar technologies and systems, as well as consulting and information services.”
Masdar Free Zone stand number S1-D1 is located in Sheikh Saeed hall. Visitors can meet Masdar representatives to learn more about the registration process in Masdar Free Zone, as well as the benefits they stand to gain from being in the ecosystem of knowledge, research and development Masdar City offers.
For further information, please contact:
Wael Hayatli Amro Deeb
Mob: +971 55 965 5728 Mob: +971 50 125 1010
Masdar is Abu Dhabi’s renewable energy company, which works to advance the development, commercialisation and deployment of clean energy technologies and solutions. The company serves as a link between today’s fossil fuel economy and the energy economy of the future. Wholly owned by the Mubadala Development Company PJSC, the strategic investment company of the Government of Abu Dhabi, Masdar is dedicated to the United Arab Emirates’ long-term vision for the future of energy and water.