Non-resident foreign investors can obtain a virtual license for doing business in Abu Dhabi from any location outside the UAE and without having to meet residence procedures.
The Abu Dhabi Department of Economic Development (ADDED) made this announcement at the 41st session of the GITEX Global (Dubai 2021).
Mohamed Ali Al Shorafa, Chairman of ADDED said the virtual license covers 13 economic sectors on top of the strategic sectors targeted by the Abu Dhabi government to attract Foreign Direct Investment (FDI).
A foreign investor can apply for a license in any of these economic sectors and fully own it choosing any of the two approved legal forms–Limited Liability Company and Sole Proprietorship L.L.C.
The sectors include agriculture, manufacturing, repair, contracting, maintenance, and installations, retail trade, transport, services, leasing services, health and entertainment event organization and management and provision of the supporting services, wholesale trade, and import and export.
These activities are subject to a maximum local fee of AED 1,000, provided that all federal fees be paid upon completion of the remaining requirements according to the activity selected and the legal form preferred. Investors can apply for the license at www.adbc.gov.ae
Al Shorafa said this initiative was in line with the directions of the UAE government to enable cross-border digital trade.