Abu Dhabi Lures AI Start-Ups With Tax Exemptions and Discount-Free Zone Licences
Abu Dhabi is looking to woo AI start-ups with a new licence package and special offers.
The Masdar City Free Zone has introduced a new licensing package for start-ups and businesses focused on artificial intelligence (AI).
The package is part of a collaboration between Masdar City and Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), designed to accelerate the region’s AI growth.
AI-focused businesses of any size will be able to begin operations in Masdar City with a tailored package that includes licensing and office space starting at AED12,000 ($3,268) per year.
Students and faculty of MBZUAI who wish to open an AI company within the Masdar City Free Zone will receive a 50 per cent discount for the first two years of operations.
The programme is an outcome of a Memorandum of Understanding signed at Abu Dhabi Sustainability Week between the Masdar City-based university, Masdar City, and The Catalyst, Masdar City’s venture arm, which invests in clean tech start-ups.
In addition to 100 per cent foreign ownership, 100 per cent income tax exemptions, comprehensive set-up support through the One-Stop Shop, and other perks, the Masdar City Free Zone offers an environment designed to help AI and other tech companies thrive.
The Masdar City Free Zone currently hosts more than 1,000 businesses, from start-ups to multinationals, in dozens of sectors, including:
- Technology
- Healthcare
- Sustainability
- Mobility
- Clean energy
- Space
The Zone is offering 50 per cent off on registration, licensing, and leasing fees in honour of COP28.
