UAE to reduce fees by more than 65%

UAE to reduce fees by more than 65%

Abu Dhabi Airport Free Zone (ADFEC) has announced a reduction of over 65% in establishment fees, in a move aimed at enhancing customer satisfaction, enhancing regional competitiveness, attracting foreign direct investment and supporting the Abu Dhabi Government's efforts to enhance the competitive environment.

 

The move involves cutting down all license fees for new companies, as well as obtaining a free zone exemption from the real estate registration and documenting agents, and excluding VAT in specific areas of the property of the dealers.

 

In parallel, the Abu Dhabi Airport Free Zone is developing its operations and procedures to reduce the time required for registration, allowing customers to start their business at minimal cost and time.

 

Abu Dhabi Airports Chief Executive Officer Brian Thompson said that the move to reduce costs and time comes in line with the directives of 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. Abu Dhabi's economic competitiveness through a number of initiatives, measures and incentives that will encourage companies to establish their presence in Abu Dhabi, ensuring sustainable growth in all economic sectors and consolidating the emirate's position on the global economic map.

 

Abu Dhabi Airports Free Zone Vice President, Rowan Michael Kelly, said that the reduction in the cost of establishing companies and the exemption from real estate registration was "documented" through a comprehensive comparison of the assessment of free zone services and their business environment. Existing investors and new investors compete in the Abu Dhabi Airport Free Zone.

 

"The Free Zone offers exceptional services that take into account the economic climate and provide customers with more convenient ways to establish a presence in order to enhance their business growth and contribute to the prosperity of the Emirate of Abu Dhabi."