With the name coined from the geographical co-ordinates of Abu Dhabi (24° North, 54° East), Twofour54, launched in 2008, aims to accelerate the media industry of Abu Dhabi. It is an amalgamation of 550+ media companies, 800+ freelancers, 80+ entrepreneurs, and 4000+ media professionals.
It acts as a destination where people are motivated to innovate, collaborate, and create. They aim to provide everything ranging from world-class production facilities, talent development initiatives, and training, to business support services.
It has the vision to be the capital for content creators. Twofour54’s mission is to build a creative ecosystem inspiring world-class content and fostering the success of the media industry of the region. They are built on the values of dedication, respect, collaboration, entrepreneurship, professional excellence, and creative thinking. It houses the biggest brands and media houses in the industry, such as CNN, BBC, National Geographic, Fox, the Financial Times, and others.
Benefits of Abu Dhabi
- Centre of the world.
- Makes up 65% of UAE’s economy
- Numbeo has ranked it as number one safest city in the world
- Connects to the world’s major cities by way of direct flights
- Home to 200 nationalities
Additional benefits enjoyed at Twofour54
If you set up your business at Twofour54, you can also apply for an onshore license from the Abu Dhabi Department of Economic Development, giving you more freedom and access to greater opportunities.
Visas are also available for all sizes of companies. A person working individually can obtain a visa for himself/herself. While on the other hand, for bigger organizations, there is no upper limit on the numbers of visas, and the process is equally easy. There are caps of visa depending upon the size of the premises. It is also easy to sponsor visas for your dependents, and it can be done through a straightforward process.
Easy three-step setup:
- Submit your business plan or form.
- Sign the required commercial, regulatory and legal documents.
- Provide any applicable payments, collect the license and start.
Once the license has been accepted, the corporate bank account can be set up. It has a quick and simple application process. The free zone staff can give advice on the bank which best suits your needs and then arrange a meeting in the branch for you. The same service can also be provided by a company formation specialist, or you can approach any local or international bank yourself.
Types of Licenses
Twofour54
1. Set up a new company– A brand new Free Zone Limited Liability Company (FZ-LLC) can be set up whether your business consists of an individual or corporate shareholder or a mixture.
Some regulatory requirements to setup a FZ-LLC:
- At least two directors are needed to be appointed
- There is no minimum fixed share capital requirement, and it can be in any currency.
- It needs to have one registered office in the media zone.
2. Set up a new branch– Under this, you can expand your current/existing business.
Some regulatory requirements for setup:
- A decision to setup a branch in the Media Zone must be indicated by the Principal Company.
- A General Manager has to be appointed for the branch.
- A registered office should be there in the media zone.
3. Get a freelancing license– Here, you can work independently or start freelancing through various opportunities with their regional and international partners and even government entities.
4. Startups– The setup if made for companies that are based on digital content creation and audio-visual content production.
State-of-the-art services at Twofour54
Business Services
Partners Intranet
The Intranet Connect portal is basically an online platform for the Twofour54 community where the partners can engage with the collaborative ecosystem, access the resources, share news, register for events, search for any freelance talent, avail exclusive offers, and such other things.
Networking Events
Every quarter, a twofour54 connect is organized, and it provides an engaging opportunity for the partners to network with other partners, businesses, and government entities, and talk to potential customers along with finding out about the latest developments.
Marketing Support
Twofour54 provides the tools to promote the business all over the community and across the media. Be it promotion on social media, or sharing of success stories and brand placements, everything is done.
Government Liaison
Twofour54 team can liaise with the government authorities across UAE for visas, registration, film permits, customs, driving licenses, and others.
In-house Travel Agency
Be it booking of flights, looking for the right hotel, to-and-fro airport services, and the in-house travel agency does it all.
Logistic and Office Support
A range of relocation and tenant services are provided.
People and Community
TwoFour54 Free Zone
TwoFour54 has a pool of 530+ freelancers across 60 media specialties, be it a marketing strategist, a graphic designer, photographer, or anyone else. It also fosters a pool of young talent, providing them internships, courses, and access to other skill-building facilities.
Campus Facilities
World-class facilities
1. Studios
They have seven broadcast studio facilities with each having their own production gallery, green room, make-up room, dressing room and are supported by staff. The studios are also soundproofed.
2. Backlot
The backlot is 300,000 sq. m. and offers a range of sets and facilities suitable for all types of production. There are costume rooms, make-up rooms, dressing rooms, a large canteen, production offices, all of which make film making seamless.
3. Edit suites
The Digital Studio Magazine has named Twofour54 “Post Production House of the Year” several times. It offers multi-use post-production suites that are dedicated to high-end finishing, composting, and color grading.
4. Screening room
Twofour54 has a screening room that provides 16 superior quality raked seats that would ensure that you and all your guests have a perfect seat in the house. True 4k cinema projection and Dolby surround sound are a few of the features of the state-of-the-art screening room.
5. Meeting rooms
Twofour54 has a variety of meeting rooms and event venues, which are all in close proximity to the offices there. The capacity varies from 5 people to 200 people. These meeting rooms and event venues can conduct multiple functions, be it a small business meeting or even press conferences.
6. Shop and eat
Restaurants, coffee shops, convenience stores, gym, banks, and ATM and public transport are other facilities available that make their community more than just a place of work.
7. The lab
It is a creative environment that gives the space to work, meet, connect, run workshops, or probably just hang out.
Some of the major projects that Twofour54 has been a part of are- 6 Underground, Ghost, Boxing Girls, Bharat, Saaho, Race 3, Mission Impossible, War Machine, Home Grown, etc.
Business Setup at Twofour54 Free Zone, Abu Dhabi
Frequently Asked Questions
Yes, and Twofour54 has a variety of offices available for all business types.
Yes, it can be opened if one can provide all the required information.
No, there is no minimum share capital requirement.
No, it is only necessary for the General Manager and the employees to reside in the UAE.
Source: https://nrdoshi.ae/twofour54-media-business-set-up/
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