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Wed 28 Nov 2018 11:32 AM

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New Abu Dhabi economic licenses to be exempt from fees

The exemptions form part of Abu Dhabi's three year, $13.6 billion stimulus programme

New Abu Dhabi economic licenses to be exempt from fees
The two resolutions form part of the Abu Dhabi Government Accelerator’s Programme, or ‘Ghadan 21’.

The Abu Dhabi Executive Council has approved a resolution that will exempt all new economic licenses issued in the emirate from all local fees for a time period of two years from the date of issue, it was announced on Wednesday.

Additionally, the council approved a second resolution exempting and reducing the fees of 98 basic services charged by Abu Dhabi municipalities on the private sector.

According to local authorities, the two resolutions are designed to help facilitate economic activities in Abu Dhabi as part of a larger effort to incentivise private sector companies and enterprises operating in the emirate.

The first resolution applies to government fees for all commercial activities in Abu Dhabi and the emirate’s free zones, while the second resolution cancels the fees of 75 basic services in Abu Dhabi municipalities and reduces the fees of another 23 by between 10 and 50 percent.

The two resolutions form part of the Abu Dhabi Government Accelerator’s Programme, or ‘Ghadan 21’.

In September, His Highness Sheikh Mohamed bin Zayed Al Nahyan revealed that the programme - which has a three year, $13.6 billion budget – is based on four main tenets: business and investment, society, knowledge, innovation and lifestyle.

The first phase of the programme has the stated aim of improving the business environment and is made up of 50 initiatives which Sheikh Mohamed said “reflect the priorities of citizens, residents and investors.”