Abu Dhabi Global Market (ADGM), the international financial hub of the UAE capital, has introduced a revised licensing fee structure to support businesses transitioning to its jurisdiction on Al Reem Island. Effective from 1st January 2025, fees for non-financial and retail licences will drop by 50% or more, reinforcing ADGM’s commitment to fostering an accessible and competitive business environment.
Key changes include a reduction in non-financial licence registration fees from USD 10,000 to USD 5,000, while renewals will cost USD 5,000, down from USD 8,000. Retail businesses will see new registration fees cut from USD 6,000 to USD 2,000, with renewal fees halved to USD 2,000. These changes will apply across ADGM’s jurisdiction, including Al Maryah and Al Reem Islands.
The revisions stem from consultations held in 2023 with Al Reem Island businesses, focusing on licensing processes and costs. Feedback from these discussions guided a detailed review by ADGM’s Registration Authority to ensure a seamless integration of the expanded jurisdiction.
The current fee exemptions for eligible businesses on Al Reem Island will conclude on 31st October 2024. Changes to other categories include financial licence fees rising from USD 15,000 to USD 20,000 for new registrations and from USD 13,000 to USD 15,000 for renewals. Tech and fintech startups will face a modest increase from USD 1,000 to USD 1,500, while fees for Special Purpose Vehicles (SPVs) remain steady at USD 1,900.
ADGM plans to release the complete fee schedule in December, ahead of its implementation in January 2025.
