Setting up business in Abu Dhabi gets quicker, cheaper

istock [For illustration]

It's now a lot easier and cheaper to set up a business in Abu Dhabi.

The requirements for starting a new venture in the emirate has been reduced by 71 per cent, and it applies to all commercial activities.

The move comes a week after the Abu Dhabi Department of Economic Development (ADDED) announced a 94 per cent reduction in the cost of registering or renewing a business.

The changes are part of the government's 'Investor Journey Programme', introduced in coordination with more than 20 government entities and the private sector.

Authorities have been able to identify and remove duplication of requirements and modify existing procures to facilitate the process of starting a business.

Last week, ADDED announced that all licence issuance and renewal fees for Abu Dhabi government entities have been reduced to AED 1,000 only and over 93 per cent of economic activities can now receive a commercial licence in six minutes.

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