It is now possible to get 50 percent or more for the obtaining of non-financial and retail within the jurisdiction of the ADGM. The new licensing fee structure applies to start January 1, 2025 and is one of the company’s transition measures for Al Reem Island ventures.
The financial international hub of the UAE’s capital, the ADGM has attributions in Al Maryah as well as in Al Reem Island. In the new structure of the fees, new registrations of the companies in the non-financial category of business enterprises will allow paying only $5,000 instead of $10,000.
For the renewal of the license every year for the same category, one is supposed to pay $8,000 while it will be reduced to $5,000. Make sure to get a hold of the current events.
Fees for the retail category have also reduced to a large extent, it has changed the registration fees from $6000 to $2000.
Fees for the retail category have also been significantly reduced, with new registration fees cut from $6,000 to $2,000. License renewals for the retail category will also see a 50 per cent reduction, bringing the fee down to $2,000.
However, the effective date of the revised licensing fees is the 1st of January next year since the existing ones will expire on the 31st of December.
Earlier the non-financial and the retail business entities operating in Al Reem Island were allowed to obtain ADGM commercial licenses for free until October 31, 2024.
Other are category fee changes such as the change to the structure in the financial category now reaching up to $20,000 up from $15,000.
Renewal costs will go up from $ 13,000 to $ 15,000. For technologies or Financial technology’s starting the fee has been revised from $1,000 to $1,500 for initial as well as for renewal of license. The fees for the SPV category of the participants have also been retained at $1,900.