UAE: Abu Dhabi Slashes Business Set Up and Renewal Fees by 90%
02 August 2021
The Abu Dhabi Department of Economic Development (ADDED) has cut business set-up fees by more than 90% to AED1,000 (US$272). Renewal fees have also been reduced to AED1,000, while federal fees will continue to apply. The new fees – announced on 25 July 2021 in an official release – have been effective since 27 July.
The new regime, a bid to boost economic activity and increase investment, comes as the result of collaborative efforts involving multiple government entities, including the Abu Dhabi Chamber of Commerce and Industry, led by ADDED. According to the ADDED statement, the single fee includes six activities within the business licence and will cover all relevant fees from ADDED, the Department of Municipalities and Transport, membership fees for Abu Dhabi Chamber of Commerce and Industry, Certificate of Conformity issuance fees, and fees required by Abu Dhabi regulating entities dependent on the type of business. Some fees have also been removed entirely, while others have been considerably reduced. Overall, it is believed that the introduction of a fixed fee should cut costs, increase transparency and reduce administration for investors.
- Middle East
- United Arab Emirates