Saturday , May 25 2019

Abu Dhabi Airports freezone cuts business setup fees by 65%

ABU DHABI / WAM

Abu Dhabi Airports Free Zone (ADAFZ) has reduced business setup costs by more than 65 percent, with the aim of improving customer satisfaction, enhancing its regional competitiveness and attracting new sources of foreign direct investment (FDI). The business setup cost reduction also supports the government of Abu Dhabi’s latest initiatives aimed at strengthening the competitive business environment of the Emirate of Abu Dhabi.
In addition to waiving all license fees for new companies, ADAFZ has received a Tawtheeq registration exemption as well as an exclusion of VAT in designated zones across its properties for its customers. It is equally enhancing its processes to reduce the registration time, enabling clients to set up at its facilities at minimal time and cost.
Bryan Thompson, Chief Executive Officer of Abu Dhabi Airports, said, “This new approach of reducing cost and time falls in line with the directions of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces, and Chairman of the Executive Council of Abu Dhabi to boost Abu Dhabi’s economic competitiveness.”
“This is being done through a number of initiatives and incentives that aim to attract businesses and institutions to establish themselves in the Emirate, ensuring sustainable growth across all economic sectors and strengthening Abu Dhabi’s status on the world economic stage.”

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