Abu Dhabi reduces requirements for starting new commercial businesses

abu dhabi, requirements, commercial, businesses, abu,
UAE
  • Date: 03-Aug-2021
  • Source: Gulf Business
  • Sector: Economy
  • Country: UAE
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Abu Dhabi reduces requirements for starting new commercial businesses

The Abu Dhabi Department of Economic Development (ADDED) said on Monday that the Abu Dhabi government reduced the requirements for starting a new commercial business by 71 per cent. In April 2021, a special task force, led by ADDED and launched as part of the department’s Investor Journey Programme, coordinated with more than 20 government entities and the private sector to achieve the reduction, according to news agency WAM. In coordination with ADDED, the Abu Dhabi government identified and removed duplicate requirements and modified existing requirements to facilitate the process of starting a business. All relevant changes are already reflected in respective systems and will be effective from 1st August. Rashed Abdulkarim Alblooshi, Under-Secretary of ADDED, indicated that this reduction in requirements Is only the beginning and that the department would continue to work closely with the government to further streamline processes. In July, ADDED established the Abu Dhabi Residents Office (ADRO) to attract talents to the emirate. Last week, ADDED announced that all licence issuance and renewal fees for Abu Dhabi government entities have been reduced to Dhs1,000, and over 93 per cent of economic activities can now receive a commercial licence within six minutes. The reduced fees will