Abu Dhabi Global Market (ADGM) has significantly changed its licencing fee schedule as part of its transitional arrangements for Al Reem Island businesses.
Starting January 1, 2025, ADGM will implement significant reductions of 50% or more for obtaining non-financial and retail licences within its jurisdiction. This initiative aims to improve ADGM’s business ecosystem, making it more appealing and accessible to various enterprises. According to the revised fee schedule, the fee for new registrations in the non-financial category of businesses will be reduced from $10,000 to $5,000.
In contrast, the annual licence renewal fees for the same category will be reduced from $8,000 to $5,000. Retail registration fees have been reduced by two-thirds, from $6,000 to $2,000. Licence renewals in the retail category will also be reduced by 50%, bringing the annual renewal fee to $2,000.
The revised licensing fees will take effect on January 1, 2025, coinciding with the expiration of the current transition period, which ends on December 31, 2024. The new fee structure will apply throughout ADGM’s jurisdiction, which includes Al Maryah and Al Reem Island.
The introduction of these fee revisions is consistent with ADGM’s 2023 consultations with a focus group of Al Reem Island businesses to gather feedback and insights on ADGM’s jurisdiction expansion. These discussions addressed major issues such as the ease of obtaining an ADGM commercial licence and the associated fees.
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