Abu Dhabi reduces business setup, license renewal fees by more than 90 pct
As part of ongoing efforts to enable the private sector, Abu Dhabi has reduced the business setup fees in the emirate to $272 (Dh.1,000) – a reduction of more than 90 percent.
License renewal fees also have been reduced to Dh.1,000, Abu Dhabi Media Office said on Sunday.
The move is a result of efforts led by the Abu Dhabi Department of Economic Development (ADDED), in collaboration with multiple government entities including the Abu Dhabi Chamber of Commerce and Industry (ADCCI).
The new fees include six activities within the business license, and will cover all fees from Abu Dhabi Government entities such as ADDED, the Department of Municipalities and Transport, membership fees for Abu Dhabi Chamber, CoC (Certificate of Conformity) issuance fee, and fees required by Abu Dhabi regulating entities dependent on the type of business.
Several fees have been removed entirely while others have been considerably reduced.
The move will significantly enhance the ease of doing business in the emirate and increase Abu Dhabi’s competitiveness regionally and internationally.
The introduction of a fixed fee will increase transparency and reduce administration for investors. It also supports Abu Dhabi Government’s efforts to create an even more thriving business environment for the private sector, especially for micro, small, and medium-sized enterprises.
According to Mohamed Ali Al Shorafa, Chairman of ADDED: “We hope this significant change in fee structure helps to further ease the set-up process for new and existing investors. Our goal for Abu Dhabi, as part of our new economic strategy, is to create a thriving business environment that encourages growth and innovation. Ease of starting and managing a business is a key lever and we strongly believe the restructuring of fees will help us achieve this goal.”
The new fees will be effective from Tuesday (July 27, 2021).