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Masdar stand at Gitex Technology Week

Masdar Free Zone to cut licence fees during Gitex

DUBAI, October 19, 2015

Masdar Free Zone, part of Masdar City and one of the world’s most sustainable and low-carbon cities, is offering to waive 30 per cent of trade licence fees for new companies registering at the UAE’s innovation hub during the on-going Gitex Technology Week.

The event will run until October 22, at the Dubai World Trade Centre, in Dubai, UAE.

Masdar Free Zone is participating in the event to highlight its focus on renewable energy and clean technology. It will showcase its offering to companies planning to operate in an environment motivating innovation and fresh ideas in renewable energy and clean technology, the future business sectors, said a statement.

Additionally, 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, it said.

Other advantages new companies will enjoy at the free zone include, to name a few: 100 per cent foreign ownership, 100 per cent exemption from corporate and personal income taxes, 0 per cent 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, added the statement.

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 clean-tech sectors. Companies can obtain a license to start operations and employment visas in few days, it said.

Ahmed Baghoum, director of the Masdar Free Zone, stated the number of businesses coming to the free zone are increasing 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,” he said.

“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 added.

The Siemens’ Middle East headquarters in Masdar City is the first office building in the UAE to be rated Leadership in Energy and Environmental Design (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, it added. – TradeArabia News Service




Tags: | Masdar | Gitex | fees | licence | Discount | Free | zone |

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