The Department of Economic Development Abu Dhabi has allowed owners of "commercial and industrial" licenses registered in the Emirate of Abu Dhabi to renew their investment activities licenses for a period of 3 years, in addition to providing an option to renew for a year or two, with the aim of facilitating the journey of investors and businessmen and enhancing the continuity of their business in a way that relieves them from the trouble of renewal and reduces the procedures followed And time and effort.
Abu Dhabi Department of Economic Development Undersecretary Rashid Abdul Karim Al Balushi stressed the department’s keenness to continue launching initiatives and programs aimed at achieving sustainable economic development and enhancing the competitiveness of doing business in the Emirate of Abu Dhabi by facilitating procedures for customers, businessmen and investors in a manner that enhances Abu Dhabi’s position as a leading global destination for investment and growth Business.
He said, "By making the option to renew economic licenses available for two to three years, we strive to achieve major goals that benefit customers and the government of Abu Dhabi alike, so that it is easy for the customer to bother to renew each year, in return, to mitigate and reduce the procedures and transactions for renewing economic licenses in the department, which are attributed to To about 70% of the total transactions, which will significantly reduce the volume of transactions executed by the dealers.
He stated that the total number of economic licenses that were renewed during the first half of the year 2020 amounted to 33,116 licenses, which constitutes 42.30% of the total number of expired economic license renewal transactions, explaining that the choice of license holders to renew their economic activities will reduce them and the department has this percentage of procedures each year.
He pointed out that the initiatives launched by the department are in line with the packages of economic initiatives launched by the government of the Emirate of Abu Dhabi to support the private sector, based on its pivotal role as a body responsible for driving the economic agenda of the emirate and enhancing the competitiveness of the Emirate of Abu Dhabi regionally and globally.
For his part, Director of the Commercial Licensing Department at the Department, Muhammad Ali Al-Murar, stated that renewing commercial and industrial licenses is done according to an easy procedure and mechanism that summarizes the login through the “Tamm” website and pressed the renewal, then entering the license number and choosing the period to renew it.
He pointed out that since the initiative was launched, 8 commercial and industrial licenses have been renewed for more than a year, 4 licenses of which are for two years and 4 licenses for three years so that the owners of these licenses benefit from obtaining all approvals and credits only once for the length of the renewal period, thus saving them time and effort.
Al-Murar stated that in order to benefit from this initiative, dealers need to show the documented and registered lease contract that covers the period required for renewal, in addition to a valid certificate that meets safety requirements issued by the General Directorate of Civil Defense, a valid environmental permit, and a valid membership certificate from a Chamber of Commerce and Industry Abu Dhabi.
In turn, the director of the Industrial Organization Department at the Industrial Development Bureau, Ali Al Hamami, said that the department’s initiative to allow the renewal of the industrial license for three years contributes to improving the business environment for industrial investors and saving time and effort on the investor, which facilitates the procedures, given that the procedures of the industrial license have technical requirements that require compliance with them And save it.
He pointed out that the mechanism of renewing the industrial license is a production case for more than a year "two or three years" in which the fees for the service, activities, products, external bodies and advertising billboard are calculated for the number of renewed years that have been chosen where the validity of the renewed industrial license is issued with the number of years required.
Al-Hammami stated that the requirements for renewal for more than a year include a documented and registered lease contract that covers the period required for renewal, a certificate to fulfill the safety requirements issued by the General Directorate of Civil Defense in effect and the valid environmental permit and membership certificate of the Abu Dhabi Chamber of Commerce in effect.