UAE - Mubasher: Abu Dhabi has reduced business setup fees by more than 90% to AED 1,000, as a result of the efforts made by the Abu Dhabi Department of Economic Development (ADDED), in collaboration with several government entities.
Licence renewal fees have also been cut to AED 1,000, and the new fees will be effective from Tuesday, 27 July 2021, according to a recent press release.
This step aims to improve the ease of doing business and raise the competitiveness of Abu Dhabi regionally and internationally, increase transparency, and reduce administration for investors.
The reduction of business setup and licence renewal fees comes in line with the emirate's efforts to create a thriving business environment for the private sector, namely for micro, small, and medium-sized enterprises.
The new fees include six activities within the business licence and will cover all fees from Abu Dhabi government entities, including ADDED, the Department of Municipalities and Transport, and membership fees for the Abu Dhabi Chamber.
Several fees have been removed entirely, while others have been considerably reduced.
The Chairman of ADDED, Mohamed Ali Al Shorafa, said: "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."
