Licence renewal fees in Abu Dhabi emirate have been reduced to Dh1,000. Delores Johnson / The National
Licence renewal fees in Abu Dhabi emirate have been reduced to Dh1,000. Delores Johnson / The National
Licence renewal fees in Abu Dhabi emirate have been reduced to Dh1,000. Delores Johnson / The National
Licence renewal fees in Abu Dhabi emirate have been reduced to Dh1,000. Delores Johnson / The National

Abu Dhabi slashes business set-up fees by more than 90%


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Abu Dhabi Department of Economic Development, in partnership with other government entities, cut business set-up fees by 94 per cent to Dh1,000 as the emirate seeks to increase its competitiveness and attract more investors.

The new fees are applicable to six activities within the business licence 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 charges required by Abu Dhabi regulating entities dependent on the type of business.

Licence renewal fees have also been reduced to Dh1,000, the agency said.

“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. 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.”

Abu Dhabi has taken various measures, including providing rent rebates, discounts on utility bills and loan guarantee packages, to support businesses and stimulate economic growth in the past year amid the coronavirus pandemic. Last year, it detailed a plan to stimulate economic growth through strategic investments and 16 initiatives to support the private sector.

The latest move to introduce a fixed fee will increase transparency and reduce administration for investors while creating a favourable environment for the SMEs, Added said.

The new fees will be effective from July 27, 2021 but all federal fees will continue to apply, the statement said.

Abu Dhabi's economy is expected to grow by between 6 per cent and 8 per cent over the next two years, driven by government spending, financial services and foreign direct investment, Mr Al Shorafa said earlier this year.

The emirate plans to focus on specific sectors in which government entities can partner with private companies "to enhance their growth and increase their contribution to the emirate’s gross domestic product”, he said in April.


Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
The biog

Fatima Al Darmaki is an Emirati widow with three children

She has received 46 certificates of appreciation and excellence throughout her career

She won the 'ideal mother' category at the Minister of Interior Awards for Excellence

Her favourite food is Harees, a slow-cooked porridge-like dish made from boiled wheat berries mixed with chicken

MATCH INFO

Euro 2020 qualifier

Fixture: Liechtenstein v Italy, Tuesday, 10.45pm (UAE)

TV: Match is shown on BeIN Sports

Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
Defence review at a glance

• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”

• Prioritise a shift towards working with AI and autonomous systems

• Invest in the resilience of military space systems.

• Number of active reserves should be increased by 20%

• More F-35 fighter jets required in the next decade

• New “hybrid Navy” with AUKUS submarines and autonomous vessels

Updated: July 25, 2021, 5:35 PM`