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ADGM to cut fees for non-financial business by 50%

Architecture, Building, Office Building WAM
Fees for the financial category will increase from $15,000 to $20,000, with renewals for annual licence rising from $13,000 to $15,000

Abu Dhabi Global Market (ADGM), a financial free zone in the UAE capital, will cut fees for non-financial businesses by 50 percent to minimise potential disruptions for businesses in Al Reem Island during the zone’s expansion phase.

Starting January 1, 2025, fees for new registrations for non-financial licences will fall from $10,000 to $5,000, the UAE state-run WAM news agency reported.

In May ADGM announced the expansion of its jurisdiction to include Al Reem Island, covering a combined geographic area of 1.44 square kilometres.

The annual renewal license fees for non-financial businesses will also be reduced, from $8,000 to $5,000.

Fees for the retail category will see a significant reduction, with new registration fees cut by two thirds, from $6,000 to $2,000. The annual renewal cost for retail businesses will be lowered by half, to $2,000.

The new fee structure will apply in the Al Maryah free zone.

The changewa are meant to make ADGM more attractive and accessible for different enterprises.

“We assessed the financial impact on different business categories and previously implemented a fee waiver for qualifying non-financial and retail businesses on Al Reem Island,” said Hamad Sayah Al Mazrouei, CEO of ADGM Registration Authority.

However, fees for the financial category will increase from $15,000 to $20,000, with renewals for an annual licence rising from $13,000 to $15,000.

Fees for tech and fintech startup fees will rise from $1,000 to $1,500 for both new and existing licence renewals.

Fees for the special purpose vehicle category will remain unchanged at $1,900.

The full fee schedule will be published in December.