Abu Dhabi cuts business set-up fees by over 90%

Move aims to boost competitiveness and ease of doing business

  
Etihad Towers is the name of a complex of buildings with five towers in Abu Dhabi, the capital city of the United Arab Emirates. Image used for illustrative purpose.

Etihad Towers is the name of a complex of buildings with five towers in Abu Dhabi, the capital city of the United Arab Emirates. Image used for illustrative purpose.

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Abu Dhabi has cut business set-up fees by 94 per cent to 1,000 dirhams ($272) as part of efforts to boost competitiveness and ease of doing business in the emirate, the Abu Dhabi Department of Economic Development (ADDED) said.

The move, which will come into effect from Tuesday, 27 July, was made in collaboration with other government entities, including the Abu Dhabi Chamber. Several fees have been removed entirely while others have been considerably reduced, ADDED said in a statement.

Mohamed Ali Al Shorafa, the chairman of ADDED, said: “We hope this significant change in fee structure helps to further ease the setup process for new and existing investors.”

License renewal fees for existing business owners have also been reduced to 1,000 dirhams, the agency said. However, federal fees will continue to apply.

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@refinitiv.com

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