Masdar City FTZ, Abu Dhabi, Records Impressive Growth
by Lorys Charalambous, Lowtax.net, Cyprus
30 March, 2017
Masdar City, Abu Dhabi's fastest growing free trade zone and the Middle East's first zone dedicated to renewable energy and clean technology, says it aims to quadruple occupancy by 2020.
The free trade zone secured 147 new company registrations last year and is now home to more than 450 companies from six continents, including Siemens, Lockheed Martin, General Electric, and Schneider Electric.
Mohammed Al Fardan, Director of the free trade zone, said: "We're delivering a unique value proposition, combining Masdar City's role as a clean-tech cluster with the benefits of a sophisticated free zone. Our target is to quadruple company occupancy by 2020, and to build on Masdar's existing close partnerships with clean-tech leaders around the world."
Benefits of establishing operations in the zone include an allowance for 100 percent foreign ownership, exemption from corporate and personal income taxes, zero percent import tariffs, and access to R&D partnerships through the Masdar Institute of Science and Technology.
Masdar City introduced new license benefits for individuals wishing to register as a business last October. The free trade zone now waives minimum share capital requirements, has lower registration charges, and offers direct access to tenant and client networking events at Masdar City.
See all of today's news