UAE: Abu Dhabi Introduces Virtual Business Licence for Non-Resident Investors
04 November 2021
Abu Dhabi now allows non-resident foreign investors to do business in the emirate without residence through a virtual economic licence, according to the Abu Dhabi Department of Economic Development (ADDED). Announced on 21 October 2021, the new licence can be obtained from outside the United Arab Emirates (UAE).
The virtual licence covers 13 economic sectors, as well as strategic sectors targeted by the emirate to attract FDI. These include import and export, wholesale, manufacturing, retail, agriculture, contracting, repair, maintenance and installations, leasing, transport, support services, and health and entertainment event management. Foreign investors seeking to enter the Abu Dhabi market remotely can apply in any of these sectors and have full business ownership by choosing one of two approved legal forms: a limited liability company or a sole proprietorship LLC. Activities in the permitted sectors are subject to local fees of up to AED1,000 (US$272) on the condition that all federal fees are paid.
Interested investors can visit the Abu Dhabi Business Centre’s website. Applicants must choose an economic name (in English only); enter contact details; pick the economic activity; attach a copy of their passport; and pay the fees get the licence. A virtual licence does not require prior approval.
- Finance & Investment
- Middle East
- United Arab Emirates