It aims to increase Abu Dhabi’s competitiveness regionally and internationally and will boost ease of doing business in the emirates. The introduction of a fixed fee will increase transparency and reduce administration for investors. It also supports Abu Dhabi Government’s efforts to create an even more thriving business environment for the private sector, especially for micro, small and medium-sized enterprises.
The new fees include six activities within the business license, and will cover all fees from Abu Dhabi Government entities such as:
- ADDED (Abu Dhabi Department of Economic Development)
- The Department of Municipalities and Transport
- Membership fees for Abu Dhabi Chamber
- CoC (Certificate of Conformity) issuance fee
- Fees required by Abu Dhabi regulating entities are dependent on the type of business.
- Several fees have been removed entirely while others have been considerably reduced.
This is as a result of collaborative efforts led by the Abu Dhabi Department of Economic Development (ADDED), in collaboration with multiple government entities including Abu Dhabi Chamber of Commerce and Industry.
The new fees will be effective from Tuesday, 27 July 2021. Federal fees will continue to apply.
“We hope this significant change in fee structure helps to further ease the setup process for new and existing investors. 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”, Mohamed Ali Al Shorafa, Chairman of ADDED, said.
Source: Khaleej Times