Abu Dhabi Enables Dual Licenses to Free Zone Firms

DUAL LICENSING

The Abu Dhabi Department of Economic Development (“ADDED”) announced a decision enabling companies to operate in the capital’s free zones as well as in the mainland simultaneously. The decision is aimed at reducing the cost of doing business in order to attract foreign investment to the UAE.

KEY MERITS

Under this license, companies will be able to operate in Abu Dhabi, Al Ain and Al Dhafra regions. The system will help reduce administrative and compliance related costs and is expected to allow companies to increase their contribution to the economy through expansion of work outside of free zones in which the companies are based. The new measure will mainly benefit strategic sectors mainly related to services, trading, Fast-Moving Consumer Goods (“FMCG”), financial consultancies and construction businesses.

HOW TLG CAN HELP

TLG’s Corporate & Commercial Division’s Team retains the due expertise in advising on all matters pertaining to company incorporation within the United Arab Emirates (“UAE”) and would be pleased to provide you with assistance and support in assessing the applicability and/or impact of this new provision on your respective Company.

Should you have any questions and/or queries, please feel free to contact TLG’s Corporate & Commercial Division for further information and assistance you may require.

Source: KhaleejTimes

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