Adio opened eight international offices in January 2021. Photo: Adio
Adio opened eight international offices in January 2021. Photo: Adio
Adio opened eight international offices in January 2021. Photo: Adio
Adio opened eight international offices in January 2021. Photo: Adio

Adio holds roadshows in major global cities to attract investors to Abu Dhabi


Shweta Jain
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The Abu Dhabi Investment Office conducted a series of roadshows in major cities around the world as it seeks to attract investors who are looking to expand operations in the UAE capital.

Adio, which is responsible for attracting and promoting investment in Abu Dhabi, connected with hundreds of business leaders, entrepreneurs and innovators through its offices in London, Paris, Beijing, Seoul, New York and San Francisco, it said on Monday.

Each of Adio's offices organised an event aimed at introducing their respective markets to the advantages of doing business in Abu Dhabi. The initiative was aimed at helping businesses capitalise on opportunities in the emirate, the entity said.

The benefits of doing business in Abu Dhabi are unmatched in the region, particularly for companies focused on innovation and technology
Mohammed Ali Al Shorafa,
chairman of the Abu Dhabi Department of Economic Development

“The benefits of doing business in Abu Dhabi are unmatched in the region, particularly for companies focused on innovation and technology. Within our investment ecosystem, businesses will find strong government support, established infrastructure and enabling regulations to accelerate their next stage of growth,” said Mohammed Al Shorafa, chairman of the Abu Dhabi Department of Economic Development (Added).

The move comes as Adio strengthens its efforts to support global investors. Earlier this year, the entity opened eight global offices in the US, Europe and Asia in its first foray abroad, as part of its drive to attract more investors to the UAE capital.

In partnership with Added, Adio established a network of offices in Tel Aviv, New York, San Francisco, Frankfurt, London, Paris, Beijing and Seoul.

Adio provides support to innovation-led ventures in sectors such as information and communications technology, health services and biopharma, agriculture technology and tourism.

Last month, Adio teamed up with UK-based independent capital markets company Maven Global Access to unveil a new programme – the Access Abu Dhabi initiative – that will help US companies led by women and minority entrepreneurs to expand in Abu Dhabi.

The programme is part of the emirate’s strategy to intensify efforts to support economic progress and convince global companies to set up their regional bases in Abu Dhabi.

In July, Adio extended Dh90 million ($24.5m) in funding and non-financial incentives to three technology companies to grow their operations.

It is supporting UAE-based companies Lyve and Rizek, as well as UK-based Callsign to build a regional presence through its Innovation Programme.

Adio has already provided backing this year to Amazon Web Services, video-streaming platform Starzplay, music-streaming service Anghami and cloud management company Bespin Global to allow them to start operations in Abu Dhabi.

In June, Adio also joined hands with Abu Dhabi’s global technology ecosystem Hub71 to help it scale up early stage start-ups through new investment.

Start-ups and businesses can now have access to Adio’s full range of support, the company said on Monday, with Adio’s investor care services supporting companies with licences, permits and visas, as well as data and insights to help start a business.

“For global companies, Abu Dhabi offers access to a fast-growing region by way of a supportive business ecosystem and outstanding connectivity,” said Monira Al-Kuttab, executive director of Adio.

Adio’s roadshows, which concluded this month, featured speeches and panel discussions from companies that have successfully expanded to Abu Dhabi.

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Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Updated: December 13, 2021, 11:50 AM