Image: ADGM
ADGM has announced a revised fee schedule for obtaining and renewing commercial licences, effective from January 1.
The changes, which include substantial reductions in fees for non-financial and retail businesses, aim to further enhance ADGM’s business-friendly ecosystem.
The new fee structure, which follows the conclusion of the Al Reem Island transition period on December 31, 2024, sees fee cuts of up to 50 per cent or more for businesses in the non-financial and retail sectors within the international financial centre’s jurisdiction, which includes Al Maryah and Al Reem Islands.
Key fee changes introduced by ADGM
Non-financial sector
- Initial registration fees have been reduced from $10,000 to $5,500.
- Annual licence renewal fees are now set at $5,000, down from $8,000.
Retail sector
- Initial registration fees are cut from $6,000 to $2,500.
- Annual licence renewal fees are reduced from $4,000 to 2,000.
These changes are part of the international financial centre’s ongoing efforts to make the jurisdiction more attractive and accessible to a wider range of businesses.
Broader changes in the fee structure
While the non-financial and retail sectors benefit from substantial reductions, other categories will see fee adjustments:
- Financial sector: Initial registration fees will rise from $15,000 to $16,700, with annual renewals increasing from $13,000 to $16,200.
- Tech startups: The fees for both new registrations and annual renewals will increase from $1,000 to $1,500.
Additionally, all businesses across the international financial centre will be subject to a $300 data protection fee at the time of both new registration and annual renewal.
Fee structure based on consultations with the centre’s business community
The fee updates follow a series of consultations with the ADGM business community in 2023, focusing on expanding the jurisdiction and improving the ease of doing business.
ADGM’s Registration Authority (RA) used the feedback to conduct a thorough review of its fee structure, ensuring it aligns with the evolving commercial landscape and facilitates a smooth transition for businesses in the region.
Hamad Sayah Al Mazrouei, CEO of ADGM RA, highlighted the initiative’s significance: “The revised fee structure underscores our ongoing commitment to fostering a dynamic business environment within ADGM. By reducing fees for non-financial and retail businesses, we are further cultivating an ecosystem that supports both new entrants and established firms, reinforcing ADGM’s position as a leading global financial hub.”
With the end of the Al Reem Island transition period, fee exemptions previously available to qualifying businesses in the non-financial and retail sectors have now been discontinued.
Read: Path to Forward: ADGM reveals its new brand
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