Abu Dhabi Economy: For licenses expiring until the end of December

Extending the exemption from the “headquarters” requirement of the “Abu Dhabi Merchant” license for an additional year

Abu Dhabi Economy seeks to enhance the role of entrepreneurship at the emirate level.

Archives

The Department of Economic Development in Abu Dhabi issued an administrative decision to extend the exemption from the headquarters requirement for the "Abu Dhabi Merchant" license for an additional year for licenses expiring until the end of December 2020, with the aim of supporting entrepreneurs and encouraging micro and small enterprises in the business sector at the level of the Emirate of Abu Dhabi, in order to alleviate their burdens. Because of the repercussions of the "Covid-19" crisis.

leading businesses

The department’s deputy, Rashid Abdul Karim Al Balushi, said that this decision comes within the framework of Abu Dhabi Economic’s efforts to enhance the role of entrepreneurship at the emirate’s level, and to provide support to them due to the repercussions of the “Covid-19” pandemic, as the decision allows entrepreneurs and micro-entrepreneurs. And small and medium-sized businesses, start practicing their business and expanding their commercial activities for four continuous years without the need to provide a residence for the license.

Al Balushi affirmed the department’s keenness to continue its efforts and initiatives aimed at stimulating the business and investment environment in the emirate, in line with the directives and vision of the Abu Dhabi government’s leadership, pointing to the importance of the Abu Dhabi Merchant License as one of the department’s most prominent initiatives aimed at enhancing Abu Dhabi’s competitiveness and leadership, and supporting its economic and development path. And social.

Number of licenses

Al-Balushi pointed out that 14 thousand and 613 licenses were issued since the launch of the license in 2017 until the end of September 2020, indicating that the activity of "electronic trading" through social media sites recorded the largest share of those licenses, with a total of 3489 licenses, followed by the activity of "general trade." And “Selling Snacks” with a total of 1,473 and 1,465 licenses, respectively.

License Modifications

The department’s agent stated that the license of the Abu Dhabi Merchant had undergone many amendments until the end of the current year, with the aim of empowering and enhancing the role of business leaders at the level of the Emirate of Abu Dhabi. Three consecutive years, stressing that adding another year for licenses expiring until the end of this year to be four years instead of three is an exception due to the repercussions of the "Covid-19" crisis during the current year.

He continued: “Before these amendments, the validity of the (Abu Dhabi Merchant) license was only for two years upon issuance, and then a decision was issued to extend it to three years only. After the expiration of this period, the owner must provide a workplace in order to be able to continue his economic activity, while the department continues Exempting new Abu Dhabi merchant licenses from local fees for two consecutive years, in implementation of the directives of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the Armed Forces and Chairman of the Executive Council of the Emirate of Abu Dhabi, represented by exempting all new economic licenses in the emirate from all Local fees for a period of two years, starting from the date of issuance of the license ».

Follow our latest local and sports news, and the latest political and economic developments via Google news