5th December 2018
It has been announced that local government fees are being abolished for all new trade licenses issued in Abu Dhabi from 1st December 2018. New companies will be exempt from the fees for two years from the date of the issue of the license. This is the latest in a stream of initiatives announced by the UAE government to boost Foreign Direct Investment (FDI) into the Capital called Ghadan 21 (Tomorrow 2021).
This is a huge boost for foreign businesses entering the Abu Dhabi market. The abolished fees make Abu Dhabi much more attractive and competitive for foreign companies expanding here. It is understood that the abolished fees relate to the trade license, so companies intending to setup a Foreign Branch will still be required to pay the Ministry of Economy registration fees.
The abolished fees for new companies will be particularly attractive for entrepreneurs and startups for whom cash flow is always critical. For those individuals who are UAE residents and opt for activities which fall under the Goldern Tajer license initiative, they will also benefit from not being required to lease a commercial premise for the first two years of operations.
Written by Jenny Hunt, Founding Partner & CEO Gateway Group of Companies
Gateway Group helps great companies to setup and succeed in Abu Dhabi
Gateway Group are experts in Abu Dhabi company formation. We use our on the ground knowledge and experience, as well as our large network of connections to help companies with their market entry. We have a proven track record of speedy, hassle free business setups for government entities, royal family, multinationals and SMEs. To find out Gateway can help your business to expand to Abu Dhabi, email us: Info@GatewayToAbuDhabi.com
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By providing bespoke business setup, corporate local sponsorship, and visa processing in Abu Dhabi, award-winning Gateway Group uses its on-the-ground experience and knowledge to help companies make informed decisions that are right for their business and in line with their goals.
For assistance with your Abu Dhabi business set up, visa processing and ongoing Trade License renewals, Email us: Info@GatewayToAbuDhabi.com