Abu Dhabi Grants 1-Year Lease Exemption for Businesses
Abu Dhabi Grants 1-Year Lease Exemption for Businesses

Abu Dhabi Grants 1-Year Lease Exemption for Businesses

6 july, 20221 minute to read
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The Abu Dhabi Business Centre (ADBC), which is part of the emirate of Abu Dhabi Department of Economic Development announced it was granting a 1-year lease exemption for businesses in 1,200 economic activities.

What is a Lease Agreement?

A lease agreement is mandatory for businesses to get their economic licenses in the UAE. A new exemption gives them “more time to focus on the business and eventually select the best location,” state news agency WAM has reported.

By the end of 2021, there were around 4,060 economic activities that are licensed and regulated by the Abu Dhabi Department of Economic Development (ADDED). In recent months several other initiatives to promote ease of doing business have been launched. These initiatives included slashing business set-up and renewal fees by over 94 percent, reducing over 71 percent in business set-up requirements.

6 july, 2022
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