As part of its transitional arrangements with Al Reem Island businesses, Abu Dhabi Global Market (ADGM) has announced significant revisions to its licensing fee schedule.
Starting January 1, 2025, ADGM will implement major reductions of 50% or more to obtain non-financial and retail licences within its jurisdiction. This initiative seeks to improve ADGM’s business ecosystem, making it more appealing and accessible to various enterprises. Under the revised fee schedule, new registrations in the non-financial category of businesses will have their fees reduced from $10,000 to $5,000.
In contrast, the annual licence renewal fee for the same category will be reduced from $8,000 to $5,000. Retail fees have also been significantly reduced, with new registration fees cut by two-thirds from $6,000 to $2,000. Retail license renewals will also see a 50% reduction, bringing the annual renewal fees down to $2,000.
The revised licensing fees will take effect on January 1, 2025, to coincide with the end of the current transition period, which expires on December 31, 2024. The new fee structure will be applicable throughout ADGM’s jurisdiction, including Al Maryah and Al Reem Island.
Implementing these fee revisions is consistent with ADGM’s series of consultations with an Al Reem Island business focus group in 2023 to gather feedback and insights on ADGM’s jurisdiction expansion. These discussions covered important topics such as the ease of obtaining an ADGM commercial licence and the associated fees.
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