The ease of doing business in Abu Dhabi just got better with the new reforms introduced by HH Sheikh Mohamed Bin Zayed, Prince Crown of Abu Dhabi and Deputy Supreme Commander of the Armed Forces. The Abu Dhabi Department of Economic Development (DED) launched its expanded business license package- Tajer Abu Dhabi as part of the Dh 50 billion stimulus announced earlier this year.
Under the revised scheme, companies can obtain commercial licenses to set up business in Abu Dhabi mainland even without the presence of a physical office space. Earlier, the provision to obtain licenses without office existed only for the freezones.
The introduced reforms are likely to have a direct and positive bearing on the SMEs and entrpreneurs with the ease of company formation in Abu Dhabi getting better. The facilities to go office-free are now available for all GCC nationals and UAE residents with an Emirati partner. The scope of Tajer license now covers 1,057 activities in an increase by over 950% in comparison with the previous license scope of 100 commercial activities.
The first phase of Tajer, which was last year, met with an unprecedented demand from the UAE nationals in Abu Dhabi, with over 1800 licenses being issued over a period of under 6 months. This has prompted authorities in modifying Tajer to help SMEs and entrepreneurs, whose official numbers stand at 350,000 in UAE. These SMEs contribute to over 60% of the national GDP, and UAE aims to bring this up to 70% by 2021.