Media ININ Economy We Trust
Media In – Abu Dhabi – 29 July 2018
The Abu Dhabi Department of Economic Development (ADB) has extended the scope of the “Abu Dhabi Merchant” license to include UAE nationals and GCC nationals and foreign investors. To more than 1057 economic activities, exempted from the requirement to provide physical premises for the facility.
The Department of Economic Development has also extended the legal forms permitted under the Abu Dhabi Dealer license to three types: “Individual Enterprise” and “One Person Company LLC” UAE nationals, GCC nationals and “LLC” for residents as partners with UAE nationals.
This initiative comes as part of the economic initiatives announced recently by His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Executive Council of Abu Dhabi, to facilitate economic activity in the emirate and to support entrepreneurs, small and medium enterprises and the private sector in general. .
Last year, the Department launched the Abu Dhabi Dealer License exclusively for UAE nationals to enable them to set up their companies within 100 economic activities without having to have a physical headquarters for their businesses so that they do not require the requirement to provide a lease and a foundation contract in its first phase , And are electronically issued via the Smart Access system at the Department’s website in only two steps: data entry and payment after review and audit.
Saif Mohammed Al Hajri, Head of the Department of Economic Development – Abu Dhabi, said: “This initiative is a continuation of the initiatives of His Highness Sheikh Mohammed bin Zayed Al Nahyan. The aim of the initiative is to enhance the ease of doing business in Abu Dhabi and facilitate the tasks of those wishing to invest and establish their businesses in the emirate. Especially the entrepreneurs and small and medium enterprises, as one of the most important streams of economic and social development in the country, and being one of the main strategic engines to accelerate the growth of our national economy in the future. “
He added that the Abu Dhabi Dealer initiative will significantly reduce the cost of starting a business by exempting companies from the requirement to provide a place, space and all associated costs. The move will enable entrepreneurs and companies to channel their efforts and financial resources to accelerate their business growth and focus on innovation, enhancing their contribution to Abu Dhabi’s ongoing economic development
