Abu Dhabi Department of Economic Development (ADDED) announced dual licensing in Abu Dhabi, companies based in the capital’s free zones will be able to operate in the mainland under a dual license, which will reduce the cost of doing business, improve the emirate’s competitiveness as well as attract more foreign companies to the emirate.
Under this new licence, companies can operate in Abu Dhabi, Al Ain and Al Dhafra regions.
Companies can expand their work outside the free zones in which they are based, further increasing their contribution to the economy. Dual licensing is the latest in a series of initiatives ADDED have launched to support entrepreneurs, SMEs and the private sector, which are all key engines of the economy. Eligible companies will need to present a no-objection certificate from their free zone, an undertaking that states no ownership of branches located outside the free zone, and a photocopy of the parent company’s free zone licence. Providing a physical location and a nameplate are excluded from dual licences. Therefore, the cost of a dual licence is 80 percent less than that of a standard licence.
With Dual licensing Abu Dhabi shall become more competitive as many foreign companies will consider benefiting from 100 percent ownership rights and simple documentation will make business conditions lenient.
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