Abu Dhabi slashes fees by 50% for non-financial and retail licences
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Abu Dhabi: The Abu Dhabi Global Market (ADGM) has announced substantial reductions in licensing fees for non-financial and retail businesses within its jurisdiction, effective January 1, 2025. This move aims to support businesses on Al Reem Island as part of ADGM's transitional arrangements.
The revised fee structure sees new non-financial business registrations drop from $10,000 to $5,000, with annual renewals reduced from $8,000 to $5,000. Retail businesses will benefit from new registration fees decreasing from $6,000 to $2,000 and renewal fees also cut to $2,000.
Previously, qualifying non-financial and retail businesses on Al Reem Island were exempt from commercial licence fees until October 31, 2024.
Fee adjustments extend to other categories as well. Financial category fees will increase from $15,000 to $20,000 for new registrations and from $13,000 to $15,000 for renewals.
Tech and fintech startup fees will rise from $1,000 to $1,500 for both new registrations and renewals. Special Purpose Vehicle (SPV) category fees remain unchanged at $1,900.
ADGM's revised fee structure follows extensive consultations conducted in 2023 with Al Reem Island businesses.