The Abu Dhabi Registration and Licensing Authority (ADRA), a division of the Abu Dhabi Division of Financial Growth (ADDED) liable for regulating and growing the enterprise sector, has reported substantial development in enterprise licences and compliance indicators throughout the Emirate’s mainland and non-financial financial free zones in 2024.
The variety of new financial licences issued in Abu Dhabi’s mainland elevated by 16%, underscoring the Emirate’s enchantment as a main vacation spot for native and worldwide companies. This development is attributed to Abu Dhabi’s business-friendly ecosystem, coupled with world-class transparency and governance requirements.
Lively licences within the non-financial financial free zones noticed a exceptional 22% development, additional cementing Abu Dhabi’s status as a aggressive enterprise hub. Moreover, the variety of ‘Actual Beneficiary’ requests reached 47,291, reflecting the effectiveness of the Emirate’s initiatives to boost compliance with native and worldwide requirements whereas strengthening the economic system’s general competitiveness.
ADRA additionally reported a 27% enhance in renewed licences within the mainland and a 9% rise in energetic licences in comparison with 2023, highlighting the Emirate’s dedication to enterprise continuity and growth.
Key Development Indicators:
-
104% enhance in freelancer licences
-
22% development in energetic licences inside non-financial financial free zones
-
371% surge in freelancer licences issued to UAE nationals
-
72% enhance in “Mobdea” licences
-
20% development in “Tajer Abu Dhabi” licences
Management Commentary
His Excellency Mohammed Munif Al Mansouri, Appearing Director Common of ADRA, said:
“The numerous development in financial licences reaffirms Abu Dhabi’s attractiveness to buyers and entrepreneurs, who’re leveraging the Emirate’s dynamic economic system and promising alternatives. We stay devoted to fostering a business-friendly setting that encourages sustainable development and prosperity.”
H.E. Al Mansouri added:
“Over the previous 12 months, our strategic initiatives to boost the benefit of doing enterprise, empower girls, and develop financial actions have pushed exceptional development in licence classes resembling Tajer Abu Dhabi, freelancer, and Mobdea. Our dedication stays steadfast in making certain an optimum setting for entrepreneurs and buyers, aligning with Abu Dhabi’s imaginative and prescient for financial diversification, regulatory developments, and digital transformation.”
Notable Licence Development
The “Mobdea” licence, designed for Emirati girls to rework their artistic pursuits into business ventures, noticed a powerful 72% enhance, rising from 1,456 licences in 2023 to 2,503 in 2024. This development displays Abu Dhabi’s ongoing efforts to empower girls within the economic system, enabling them to function companies with out the requirement of a bodily workplace and masking over 50 financial actions.
Freelancer licences additionally skilled important growth, growing by 104%, from 1,013 in 2023 to 2,065 in 2024. Probably the most notable rise was amongst UAE nationals, the place licences surged by 371%, from 84 in 2023 to 396 in 2024. In the meantime, freelancer licences issued to different nationalities grew at charges starting from 20% to 107%. The Freelancer licence gives UAE nationals and residents with a low-cost platform to interact in over 100 financial actions, supporting Abu Dhabi’s drive in the direction of a knowledge-based, innovation-led economic system.
The “Tajer Abu Dhabi” licence, which permits entrepreneurs and small companies to function with out requiring a bodily workplace for the primary three years, expanded by 20%. The variety of licences issued grew from 5,989 in 2023 to 7,187 in 2024. ADRA just lately added 12 new financial actions below this class, bringing the overall lined actions to over 1,200, in comparison with simply 30 when the initiative was first launched in 2017.
Observe Emirates 24|7 on Google Information.