Abu Dhabi will reduce business setup fees and license renewal fees to 1,000 dirhams ($272.27), a 94% reduction from current rates, effective from July 27, as part of efforts to enable the private sector.
This change was made with the collaborative efforts of the Abu Dhabi Department of Economic Development (ADDED), the Abu Dhabi Chamber of Commerce and Industry, and other government entities.
The move will significantly enhance the ease of doing business in the emirate and increase the emirate’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.
“We hope this significant change in fee structure helps to further ease the setup process for new and existing investors. Our goal, 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”, Mohamed Ali Al Shorafa, Chairman of ADDED, said.
Several fees have been removed entirely while others have been considerably reduced.
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