Kizad Free Zone Company Setup
Kizad Free Zone Company Setup in UAE
KIZAD stands for Khalifa Industrial Zone Abu Dhabi. It is a state-of-the-art Free Zone located next to Khalifa port – one of the most developed ports in the world.
As of now, it is the most affordable Abu Dhabi Free Zone. In came to the market quite recently, together with another popular zone in Fujairah called IFZA, however KIZAD offers more physical facilities, especially for storage, production and distribution
OFFICES AND WAREHOUSES IN KIZAD
KIZAD industrial zone has one of the highest quality warehouses among all UAE free zones. They do not require high investments in order to move in and start working. KIZAD master plan is designed to fit all the needs of manufacturing, trading and storage companies. Khalifa Port connects the free zone with more than 60 international destinations. Apart from that, the free zone offers flexi-desks and offices to accommodate businesses with any business activity. A good thing about this zone is if you are renting an executive office, the trade license is given free of charge.
KIZAD free zone offers a vast list of activities with its focus on the following sectors:
KIZAD also have service activities related to:
- Freight forwarding support
- Travel agencies and many more
KIZAD license is allowed to have 5 similar business activities. The business activity will be added to your company name, for example: ABC food and beverages trading LTD.
Service activities require a proof of educational degree
KIZAD LICENSE COSTS
Khalifa Industrial Zone Abu Dhabi can be considered one of the most affordable zones in the UAE. License costs start from 11,000 AED and this package is eligible for 1 resident visa.
Any standard package includes flexi-desk rent.
If you are looking for an office or a warehouse, there are a lot of customized solutions ready to move in. Warehouses costs start from 350 AED per sq meter per year.
BUSINESS SETUP IN THE FREE ZONE
You can register both Free Zone and non Free Zone companies through KIZAD authority. KIZAD company can be a zero visa and visa eligible packages. There is also an offer to get a dual license with Abu Dhabi Department of Economic Development. It will allow to operate within the free zone and in the mainland area as well.
- Passport copy
- Passport size photo
- Bank reference or statement
- Business plan
KIZAD Khalifa industrial zone does not have a fully remote registration option, but you need to visit its office only once either in Abu Dhabi or Dubai. Proof of minimum share capital of 26 000 AED is required to be deposited to your corporate account after 60 days from the date of company formation.
KIZAD UAE RESIDENCY
Khalifa industrial zone Abu Dhabi allows to start the visa process only after corporate account of the company is opened and the capital of 26,000 AED is deposited there. Medical check-up and Emirates ID application can be done only in Abu Dhabi. Health insurance is mandatory. The basic insurance costs about 800 AED. Visas are valid for 3 years, both for company owners and employees.
If you are planning to sponsor dependents, you must have a residential tenancy contract. You need to rent an apartment or a villa only in Abu Dhabi. It differs from the option of business setup in Dubai, where the place of tenancy contract does not matter.
Renewal cost of the license will be exactly the same as its incorporation fee. Financial audit is not required. Renewal can be done without the physical presence of the company owner.
Company amendments can be applied for only by the company’s shareholders or by a company representative with Power of Attorney.
- Change of manager/director
- Shares transfer
- Name change
- Activity change
Company liquidation costs 2,625 AED and takes about 1 month.
The company needs to appoint auditors as liquidators and they have to issue confirmation that the company has no liabilities in the market.
All resident visas must be closed prior to the liquidation.
Corporate bank account needs to be closed as well.
BUSINESS SETUP CONSULTANTS OPINION
KIZAD is a great option for those who need their business to be registered in Abu Dhabi or plan to set up a manufacturing activity next to a port. Alternative solution can be business setup in Sharjah Airport Free Zone, which has a lot to offer for industrial companies too.