Abu Dhabi reduces requirements for starting new commercial businesses
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Abu Dhabi reduces requirements for starting new commercial businesses

Abu Dhabi reduces requirements for starting new commercial businesses

It follows the establishment of a task force led by the Abu Dhabi Department of Economic Development which coordinated its efforts with over 20 government entities

Abu Dhabi

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 August 1.

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 talent 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 be applicable to six activities within the business licence, and will cover all fees from Abu Dhabi Government entities such as ADDED, the Department of Municipalities and Transport, membership fees for Abu Dhabi Chamber, CoC (Certificate of Conformity) issuance fee, and fees required by Abu Dhabi regulating entities dependent on the type of business.

Read: Abu Dhabi slashes private sector business setup fees by over 90%

In related recent developments, Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council, has issued a resolution to reinstitute a new board of directors for the Abu Dhabi Chamber of Commerce and Industry.

The new board includes 23 founders, CEOs and chairpersons from multinational groups of companies, family businesses and startups. The chamber aims to develop commercial and trade activities in Abu Dhabi, increase the competitiveness of companies in the private sector, and enable them to foster sustainable development.

Read: Sheikh Mohamed bin Zayed forms new board of Abu Dhabi’s Chamber of Commerce and Industry

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