A bird's eye view of Abu Dhabi.
PHOTO BY ARCHIVE
ABU DHABI – Business set-up fees in Abu Dhabi will soon be 94 percent cheaper after the Abu Dhabi Department of Economic Development (ADDED) slashed rates down to just Dh1,000.
Licence renewal fees have also been reduced to Dh1,000, according to the agency.
The new fees will be effective from July 27, 2021 but all federal fees will continue to apply.
The reduced fees are applicable to six activities within the business licence and will cover all fees from Abu Dhabi government entities, including Abu Dhabi Chamber membership fees, and issuance fees and charges required by Abu Dhabi regulating entities.
“We hope this significant change in fee structure helps to further ease the set-up process for new and existing investors,” said Mohammed Al Shorafa, chairman of ADDED.
“Our goal for Abu Dhabi, as part of our new economic strategy, is to create a thriving business environment that encourages growth and innovation,” Al Shorafa said.
The latest move to introduce a fixed fee will increase transparency and reduce administration for investors while creating a favourable environment for Small and Medium Enterprises, according to ADDED. ICA/Expat Media
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