Abu Dhabi Global Market (Abu Dhabi Global), the international financial center of the capital of the United Arab Emirates, announced important changes in company license fees, as part of measures to facilitate the transition process for companies operating in Reem Island, like Abu Dhabi. Global will start applying discounts from January 1, 2025. A significant increase of 50% or more in license fees for non-financial and retail businesses. This initiative aims to strengthen Abu Dhabi Global’s vital comprehensive business system, thereby increasing the attractiveness and ease of entry for companies from various sectors that fall under its regulatory framework..
According to the latest changes, the registration fee for the category of non-financial companies will be reduced from $10,000 to $5,000, while the annual license renewal fee for the same category will be reduced from $8,000 to $5,000. Significant two-thirds reductions have also been applied to retail business registration fees, from US$6,000 to US$2,000, and annual license renewal fees for retail businesses will be reduced by 50% to US$2,000..
These revised fees will come into effect on 1 January 2025 to coincide with the end of the current transition period on 31 December 2024. The new fee structure will apply across Abu Dhabi International’s entire geographic footprint, including Al Maryah. and Al Reem Islands..
The new fee changes follow a consultation conducted by Abu Dhabi Global in partnership with a select group of companies working on Reem Island in 2023 to gather feedback, observations and ideas on expanding Abu Dhabi Global’s geographic scope. The discussions also covered key issues such as the ease of obtaining a commercial license from Abu Dhabi Global and the fees applicable to such licenses. As a result of these studies, the Abu Dhabi Registration Authority carried out a comprehensive review of its fee structure in order to follow the ambitions of various companies in the newly expanded geographic area and to ensure a smooth transition of companies to the new geographic area. ..
Hamad Sayyah Al Mazrouei, CEO of Abu Dhabi Global Market Registration Authority, said: “To ensure a smooth and easy transition process for companies operating on Reem Island, Abu Dhabi Global and its registration authority continue to make proactive efforts and launch various initiatives. In this context, we worked to analyze the financial impact of the transition process on different business categories, and we excluded non-financial companies and qualified retailers during the transition period on Al Reem Island companies operating from commissions Continuing these efforts, we have revised the fee structure, starting next year by applying significant discounts to these business categories, with the aim of mitigating the effects that companies may have in their transition to the Abu Dhabi Global Market, and to be able to do their business in the market effectively and efficiently..”
It is worth noting that the deadline for the quota waiver initiative previously granted by Abu Dhabi Global to companies operating in the non-financial and retail sectors on Reem Island is October 31, 2024..
Abu Dhabi Global has also revised the fees applicable to the financial companies category, and this revision includes an increase in license fees from USD 15,000 to USD 20,000, in addition to an increase in annual license renewal fees from USD 13,000 to USD 15,000. On the other hand, an amendment was applied to the fees applied to start-ups operating in the field of technology and fintech, as the registration and renewal fees increased from USD 1,000 to USD 1,500. There was no adjustment to the special purpose enterprise category fee, which remained at $1,900.
A full list of new business registration fees and license renewal fees will apply 1 In January 2025, it will be published in December of this year.
