"Abu Dhabi for registration" An initiative is launched to update the economic licenses register in the emirate
ABU DHABI, 31st October / WAM / The Abu Dhabi Registration and Licensing Authority (ADRA), the arm of the Department of Economic Development – Abu Dhabi for developing and regulating the business sector, launched an initiative to update the register of economic licenses that have expired for three (3) years or more, as part of its ongoing efforts to support the facilitation of doing business in the emirate and comply with the rules and regulations by providing the opportunity for investors to correct their legal situations.
The initiative to update the register of expired economic licenses comes based on studies and discussions conducted by the Abu Dhabi Registration and Licensing Authority (ADRA) with investors and other stakeholders in the business sector about the reasons for non-renewal of licenses and its effects on license holders and the business sector, and the importance of giving investors an opportunity to correct the conditions of licenses that have expired for three years or more before canceling them, as it may negatively affect their other economic activities.
The Abu Dhabi Registration and Licensing Authority (ADRA) called on investors to take advantage of the initiative, as it will, in accordance with the prevailing regulations in the Emirate of Abu Dhabi, transfer non-renewed licenses to the expired licenses registry, which includes licenses that have expired and have expired no more than three years ago, while licenses that have expired three years or more will be canceled. The first phase of the initiative includes economic licenses that expired before the year 2010, as the Abu Dhabi Registration and Licensing Authority (ADRA) allows the owners of these licenses the ability to renew or correct the conditions during the period from 1 to 30 of next November, noting that these licenses will be exempt from fines for delaying the renewal of the economic licence. A timetable for correcting the status of licenses that expired after 2010 will be announced during the coming period.
The launch of the initiative was part of the efforts of the Abu Dhabi Registration and Licensing Authority (ADRA) to ensure the provision of accurate, comprehensive and up-to-date data and information and enhance access to them in order to support informed decision-making, in line with its role as the central authority responsible for the company registration system, the commercial registry, and the authority concerned with regulatory affairs related to the compliance of economic institutions throughout the emirate and non-financial free economic zones in accordance with the legislation and regulations of the federal government of the United Arab Emirates.
His Excellency Mohammed Munif Al Mansouri, Director General of the Abu Dhabi Registration and Licensing Authority (ADRA), said: “We are keen to continuously communicate with the business sector through various channels to learn about the challenges and develop appropriate solutions in accordance with the laws, rules and regulations, as we believe that these constructive dialogues constitute an essential foundation for developing and regulating the business sector. Our initiative, which provides the opportunity for investors to renew expired economic licenses, comes in support of the ease of doing business and rectifying the conditions of expired licenses, which provides more smoothness for investors to take advantage of the broad and promising opportunities that arise.” Provided by Abu Dhabi’s economy.”
He stressed that expanding the scope of licenses benefiting from the initiative to include economic licenses that expired before 2010 reflects the commitment to providing comprehensive opportunities for all economic institutions to benefit from programs and initiatives that support businesses. He called on holders of expired economic licenses to benefit from the initiative according to the time stages that will be announced successively by the Abu Dhabi Registration and Licensing Authority (ADRA) through several channels, as it constitutes an appropriate opportunity to correct the conditions of these expired licenses, which provides solutions to many of the complexities facing holders of expired licenses.
Al Mansouri added: “The continuous growth in the number of new economic licenses in Abu Dhabi confirms the emirate’s attractiveness to investors, as effective licenses increased by 19% in the first half of this year compared to the same period in 2024. We are working to provide more practical solutions that enhance the ease of doing business during the registration process and in the operational phase of economic establishments. We renew our commitment to providing a business-supportive system and enhancing Abu Dhabi’s global competitiveness through the continuous development of policies that provide a fertile environment for the growth of the business sector to play its role.” “In economic and social development under legislative frameworks that comply with the highest international standards, as well as employing the latest digital solutions with the aim of simplifying procedures for establishing, practicing and developing businesses, encouraging investment, and enabling companies to achieve prosperity within the vital economic system in the Emirate of Abu Dhabi.”
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Related
