Abu Dhabi Global Market reduces commercial license fees for non-financial companies and retail companies.. Details.
Advertise Abu Dhabi Global Market(ADGM), the International Financial Centre in Abu Dhabi, announced the updated fee schedule for issuing or renewing Commercial Licenses.
According to a press release issued Thursday, it was decided Abu Dhabi Global Market Applying fee reductions of 50% or more for non-financial companies and retail companies within the market’s jurisdiction, effective January 1.
This step aims to enhance the business-supportive environment in the market, which will contribute to increasing its attractiveness and facilitating access to it by various companies, according to what was reported by the Emirates News Agency.
ADGM Reduced Fee Schedule
According to the updated fee schedule, the initial registration fee for non-financial companies has been reduced from $10,000 to $5,500, and the annual license renewal fee has been reduced from $8,000 to $5,000.
For retail businesses, the initial registration fee has been reduced from $6,000 to $2,500, and the annual license renewal fee has been reduced from $4,000 to $2,000.
These amendments are in line with the end of the Al Reem Island transition period, which ended on 31 December 2024, and apply within the jurisdiction ofAbu Dhabi Global Market Which includes Al Maryah and Al Reem Islands.
Effectively enhance the overall business ecosystem
Commenting on the decision, Hamad Sayah Al Mazrouei, CEO of the Registration Authority of Abu Dhabi Global Market (ADGM), said that the new fee structure reflects the market’s commitment to supporting companies within its jurisdiction.
Hamad Sayah Al Mazrouei pointed out that the aim of the significant reductions in fees for non-financial companies and retail companies is to effectively enhance the comprehensive business system and strengthen the position of the Abu Dhabi Global Market.
With the transitional period for Al Reem Island ending on 31 December 2024, the fee exemptions previously granted to non-financial companies and eligible retail companies have been removed.
Increase in fees for financial companies and startups
The updated fee schedule includes additional changes for other categories, including the Financial Corporations category, where the initial registration fee has increased from $15,000 to $16,700, with the annual renewal fee increasing from $13,000 to $16,200.
The fees for tech startups have also been adjusted from $1,000 to $1,500 for both new registration and renewal.
Furthermore, the $300 data protection fee will continue to apply to all categories of businesses, whether upon new registration or annual renewal, according to the updated schedule.
