Abu Dhabi slashes private sector business setup fees by over 90 per cent

abu dhabi fees business setup private
UAE
  • Date: 26-Jul-2021
  • Source: Gulf Business
  • Sector: Economy
  • Country: UAE
  • Share:

Abu Dhabi slashes private sector business setup fees by over 90 per cent

Abu Dhabi said on Sunday that it would reduce business setup fees for the private sector, as well as licence renewal fees, to Dhs1,000. The new fee structure will be effective from Tuesday, July 27, 2021, and marks a reduction of over 90 per cent from the existing business setup fees. The announcement was made by the Abu Dhabi Department of Economic Development (ADDED), in collaboration with multiple government entities including Abu Dhabi Chamber of Commerce and Industry. The reduced fees will be 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 fees required by Abu Dhabi regulating entities dependent on the type of business. Several fees have been removed entirely while others have been considerably reduced, according to the . However, federal charges for business setup and licence renewal still apply. The decision to slash the fees is expected to enhance the ease of doing business in the emirate and increase Abu Dhabi's competitiveness regionally and internationally. The introduction of a fixed fee will increase transparency and reduce