Business Set Up in Abu Dhabi nowadays is very easy and smooth. The Department of Economic Development (DED) in Abu Dhabi introduced a number of new methods to help the business owners to launch and expand their business operations without spending much time information process and administration processes. Company Formation in Abu Dhabi or business setup in Abu Dhabi will now be a brilliant opportunity for business enthusiasts, as now, the Government of Abu Dhabi has made the Company Formation set up seamless like never before. This is a commendable effort that has been initiated from 1st December 2018 focusing on the business growth as well as the economic development of the country. The executive council of Abu Dhabi has also approved new resolutions to exempt all the new economic licenses issued in Abu Dhabi from all the local fees for 2 years.
What are the new licensing procedures for Company Formation in Abu Dhabi?
The new licensing procedures have been changed in Abu Dhabi and there is a huge difference in the license fee. Before the license fee was in between AED 10,000-AED 14,000 for a year, but now it has been reduced to 2,515 AED for two years. This new licensing fee for a minimal amount and exemption of fees from the local government includes all the commercial activities in Abu Dhabi.
What are the fee details for Business Set Up in Abu Dhabi?
The executive council of Abu Dhabi has also approved another resolution of exempting and reducing the fees of 98 basic services which are charged by the Municipalities of Abu Dhabi in private sectors. The authorities now have all are to cancel the fees of 75 basic services that are provided by the Abu Dhabi Municipality and lessen the fees of 23 services by 10-15 percent of the total fees of each service. Below are a few details mentioned?
- Civil Defense Service Fee: 1000 AED
- Request Private Sector Or Free Zone Firm Card GDRFA (Immigration Card) - 515 AED
- Initial Approval: 100 AED (Exempted)
- Signboard Fee: 400 AED (Exempted)
- Activity Fee Total – (Exempted)
- Ministry Of Economy Fee - 1000 AED
- Commercial License Fee - 200 AED (Exempted)
- Service Fee For Activities - (Exempted)
What are the two more things you require apart from the above-mentioned fees for Company Formation in Abu Dhabi?
Apart from these above-mentioned fees, we required a local sponsor and an office space in Abu Dhabi to form a mainland license.
What is the aim of the new licensing procedures for Company Formation in Abu Dhabi?
This big initiative aims:
- To kindle tourism in Abu Dhabi
- To develop the local economy
- To create more job opportunities
- To provide extraordinary business set up in Abu Dhabi
- To become more competitive
- To reduce term cost pressures on corporates
- To strengthen the competitiveness of the economy
This new licensing procedure is an initiative that comes under the directives of Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and the Deputy Commander of the UAE armed forces.
How will Emirates Chartered Accountants Group help with business set up in Abu Dhabi?
- Provide Guidance & Support in strategizing your business plan and providing business advisory.
- Assistance to preparing the application form to be submitted to the DED.
- Getting your trade name approval, Initial Approval and security approval
- Attesting the legal documents from the concerned department of the authorities for corporate clients.
- Drafting the MOA of the company.
- Proper guidance while selecting the warehouse/s or offices.
- Support and guidance for E – channel registration and obtaining the establishment card.
- Assistance for opening your company bank account/s and personal bank account.
- Visa assistance for employees as well as investors.
- Selection of suitable employees for your newly formed company
- VAT Compliance and Advisory support for VAT Registration, VAT Implementation, VAT Return Filing
- Provisions for Accounting & Book Keeping services
- Provisions for Audit & Assurance Services
What are the legal requirements to be met for Company formation in Abu Dhabi?
There are a few legal requirements that are to be fulfilled for business set up in Abu Dhabi. For Mainland Company set up, the company has to get a UAE Local Partner or a UAE National Agent.
What are the types of companies you can register for 100% ownership in Abu Dhabi?
For business persons and entrepreneurs who would like to opt for 100% foreign ownership, under this there are six types of companies you can register in Abu Dhabi:
- Branch of a Foreign Company
- Branch of a GCC Company
- Branch of a Freezone Company
- Representative Office
- Civil Works Company
- Foreign GCC Branch (one GCC national shareholder/one foreign shareholder)
What are the different types of licenses that can be registered in Abu Dhabi?
Aside from 100% foreign-owned company licenses. There are four other company types of licenses that can be registered while setting your Business in Abu Dhabi which are as follows.
- A Limited Liability Company
- Sole Proprietorship L.L.C
- Sole Establishment
- Local Branch
What are the different types of business licenses that can be obtained while Company Formation in Abu Dhabi?
There different types of business licenses that can be obtained while Company Formation in Abu Abu Dhabi is as below:
- Commercial License
- Professional License
- Industrial License
- Tourism License
- Craft License (Typing Centre, Laundry, Hairdressing Salon etc.)
- Agricultural and Fish and Animal Wealth License
Forming a company in Abu Dhabi at this time at such a low cost, which so many facilities is absolutely a great investment opportunity. Emirates Chartered Accountants Group provides clients with a seamless process of company formation in Abu Dhabi backed by a team of well-experienced Company formation professionals. If you are looking for our service in Bahrain click our website ecaBahrain For Mainland company formation in other Emirates please click below links.
For Company Formation Consultation
Mr. Viju
+971-554028899
viju@emiratesca.com
Feb 29,2024UAE Corporate Tax Registration
