Abu Dhabi sees 63% growth in new economic licences in 2019 – The National

Abu Dhabi sees 63% growth in new economic licences in 2019 – The National

Abu Dhabi sees 63% growth in new economic licences in 2019. The number of renewed economic licences in 2019 reached 80,477, data from the Abu Dhabi Business Centre found, with the total number of economic licences registered in the emirate hitting 172,577 last year.. Commercial licences accounted for the overwhelming majority of the new licences issued by ADBC, with about 17,642 issued in 2019, up 66.3 per cent from the 10,608 in 2018.. The number of professional licences released in Abu Dhabi almost doubled, with 403 permits issued last year compared to 224 in 2018.. ADBC also issued 229 occupational licences last year, compared to the 199 released in 2018.. The number of instant licences issued reached 2,005 by the end of 2019 and Tajer Abu Dhabi licences - a permit that allows companies to reduce costs by setting up without a physical office- numbered 5,310, up from the 2,696 released in 2018.. The report also showed an sharp rise in the number of trade names issued for new commercial licences during 2019, which jumped 28.5 per cent to 32,662 new trade names from the 25,416 issued in 2018.. ADBC issued 118 dual licences for Abu Dhabi's free zone companies