Majlis 12 Seite 44

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LEGALLEGAL T he Khalifa Industrial Zone Abu Dhabi KIZAD is an industrial park which is located in the Al Taweela Area It is subject to the authority of the Abu Dhabi Ports Company ADPC The ADPC is an establishment developing ports and industrial zones It runs commercial ports in the United Arab Emirates supports partners with infrastructure project company incorporations and joint ventures with partners that operate in ports and industrial zones ADPC was founded in 2006 and is part of the restructuring process of the commercial port sector of the Emirate Abu Dhabi The establishment controls and manages all commercial port elements which formerly belonged to the Abu Dhabi Seaports Authority The objective is to support the progress of industrial logistics and infrastructure The focus is to make the Khalifa Industrial Zone Abu Dhabi KIZAD the world s biggest industry hub According to Abu Dhabi s Vision 2030 to enhance industrial diversification KIZAD was estab lished on a Greenfield of 417 square kilometres and serves as an outstanding gateway to the industrial development of the region Ideally located near Port Khalifa and the E11 highway section KIZAD provides potential investors with easy access to both local and the international markets KIZAD will be the first industrial zone in the region that enables investors to establish free zone or non free zone companies Companies that are located within the free zone are subject to the regulations and guide lines of ADFZA Abu Dhabi Free Zone Authority All other companies shall respect the UAE Commercial Companies Law regulations CCL and the prevailing laws of the Abu Dhabi Emirate The investor can opt between the following legal forms of companies FZ LLC Free Zone Limited Liability Company FZCO Free Zone Company and the companies as per the UAE Commercial Companies Law KIZAD consists of two areas A and B Although area B is primarily dedicated to industrial and commercial use there are other facilities such as shopping facilities and residential areas for employees which shall contribute to the industrial development Due to its vast size area A is divided in specified zones in order to accommodate for diverse industrial ventures These ventures cover aluminium production trade and logistics and the production of medical devices Amongst others a warehouse and logistics park for logistics units is currently being devised It offers prefabricated warehouses and ground area for lease where user and logistics providers can build up their own facilities This project is intended to help supply warehouses that fulfil all requirements regarding warehousing freight and other logistics providers in KIZAD Prefabricated warehouses are located across all 400 000 square metres They were developed strategically in two phases During phase one prefabricated warehouses with several modules starting from 1 000 square metres on a ground area of 100 000 square metres are planned 10 of each unit shall be used for office purposes The warehouses will show a planning efficiency of 90 and will be provided with air conditioned units and loading ramps Investors also have the opportunity to sign a contract with a long term right of ownership in case they would like to build their own warehouses and own logistics facilities Investors who plan to use the prefabricated facilities by default are entitled to conduct a long term lease agreement KIZAD plays a key role in the planned diversification of the regional economic activities With an investment volume of USD 7 2 billion the industrial zone shall generate 15 of gross domestic product till 2030 excl revenues from the oil industry according to the Abu Dhabi government Currently two authorities are the points of contact if an investor wishes to apply for an industrial license Either the Zones Corp Higher Corporation for Specialized Economic Zones or the Abu Dhabi Free Zone Authority is responsible depending on whether it is a Non Free Zone company or a Free Zone company This is about to change It is intended that one independent authority will be responsible for both Non Free Zone companies and Free Zone companies In order to speed up the application process there are increased endeavours to simplify and standardise the administrative procedure A so called One Stop Shop service shall ensure the provision of information as well as the execution of the establishment process From start to finish of the process one competent person of contact shall ideally be at the investor s disposal The start up procedure at a glance 1 Establishment application 2 Review of the application by KIZAD 3 Preliminary Agreement PA between the applicant and KIZAD validity six months During these six months the applicant has to provide all necessary documents and if applicable other approvals 4 After the applicant meets all the establishment conditions the investor will be invited to sign a Musataha agreement This agreement entitles the investor to legally own all assets developed on a certain plot of land within KIZAD and guarantees tenure for fixed term of time up to 50 years Furthermore the investor can apply for a Preliminary Industrial License PIL From that moment the investor may start developing the land plot mobilizing processes and running its operations 5 After completion of all necessary building constructions the Preliminary Industrial License will be converted into a Permanent Industrial License KIZAD is a new entity on the Abu Dhabi industrial scene but one which will make a big impact and is an exciting addition to the Abu Dhabi business scene n roedl Partner Liberty Building Office 305 Al Garhoud p O Box 23297 Dubai United Arab Emirates phone 971 4 295 00 20 Fax 971 4 295 00 70 Email derya bandak roedl com Derya Bandak Attorney at Law Germany Kizad industrial parKof the future 42 ISSUE 12 MAJLIs