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 Golden Tajer license initiative, they will also benefit from not being required to lease a commercial premise for the first two years of operations.
How Gateway Group can help you or your organisation to start a business in Abu Dhabi
Gateway Group helps great companies to setup and succeed in Abu Dhabi. Gateway Group is the authority on company formation in Abu Dhabi. 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 company formations for government entities, royal family, multinationals, SMEs and entrepreneurs. For Gateway to setup your company in Abu Dhabi, email us: info@GatewayToUAE.com
Written by Jenny Hunt, Founding Partner & CEO
Gateway Group of Companies, Abu Dhabi & Dubai UAE
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