Business Setup Fees in Abu Dhabi Emirate Have Been Reduced to AED1,000

To all businessmen and women in Abu Dhabi, the emirate has partnered with other government entities and has announced that the business setup fees in Abu Dhabi emirate have been reduced to AED1,000 – a reduction of more than 90 percent. License renewal fees also have been reduced to Dh1,000.

This is due to a collaborative effort 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.

As part of ongoing efforts to enable the private sector, #AbuDhabi has reduced business setup fees to AED1,000 – a 94 per cent reduction from current rates. pic.twitter.com/pV8vMU3qYZ

— مكتب أبوظبي الإعلامي (@admediaoffice) July 25, 2021

The decision will begin operating on Tuesday, 27 July 2021. Federal fees will continue to apply.
This is expected to 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.

The achievement was led by @AbuDhabiDED in collaboration with government entities including Abu Dhabi Chamber of Commerce and Industry. The new fees include six activities within the business licence and include all #AbuDhabi Government entity fees.

— مكتب أبوظبي الإعلامي (@admediaoffice) July 25, 2021

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.

Licence renewal fees for existing business owners have also been reduced to AED1,000. Federal charges for business setup and licence renewal still apply.

— مكتب أبوظبي الإعلامي (@admediaoffice) July 25, 2021

“We hope this significant change in fee structure helps to further ease the setup 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”, Mohamed Ali Al Shorafa, Chairman of ADDED, said.

Image Source: Whatson

This article was previously published on UAE Moments.To see the original article, click here