New Abu Dhabi licence allows 100% foreign ownership of businesses

A new professional licence has been introduced in Abu Dhabi, giving foreigners full ownership of businesses related to 604 different activities.

The licence holders can operate in fields such as accounting, training, consultancy, beauty centres, computer and internet network companies, among others.

According to the Abu Dhabi Department of Economic Development (ADDED), a local service agent will be responsible for managing licensing requirements if there is no Emirati partner.

The new licence holder can also open an additional branch "if the business activity is consistent with or complements the professional licence issued".

Meanwhile, existing establishments can benefit from the latest decision by adjusting their status from a commercial to a professional facility.

The licence is suitable for new investors due to its low cost, and the ease of its issuance.

"It is easy to set up or adjust, which in turn will streamline business practice across the emirate of Abu Dhabi," said Rashid Abdulkarim Al Blooshi, Undersecretary of ADDED.

"Also, this decision sparks an incubating environment for the professional community, which in turn accelerates the transformation to the knowledge-based economy," he added.

.@AbuDhabiDED has launched the Professional Licence, permitting 100 per cent foreign ownership of businesses operating across 604 professional services, such as training and consultancy. The move will further support SMEs and enhance ease of doing business in the emirate. pic.twitter.com/54h3TQwhiJ

— مكتب أبوظبي الإعلامي (@ADMediaOffice) August 9, 2021

Businesses can apply for a Professional Licence through a local services agent, or by amending their existing commercial licence. They can also open an additional branch if the business activity is consistent with or complements the Professional Licence issued.

— مكتب أبوظبي الإعلامي (@ADMediaOffice) August 9, 2021