The new initiative will help investors by reducing costs and making it easier to start new businesses. Following Abu Dhabi’s reduction of set-up and renewal fees by 93% to just Dh1,000 and the cancellation of 71% of business start-up requirements in 2021, the “Investor’s Journey” brings a fully digitized experience, guiding investors through a range of services, with minimal physical touchpoints. Transactions and approval procedures for government entities have also been unified.
“Our active cooperation with partners in the public sector and more specifically the private sector for the benefit of business owners demonstrates Abu Dhabi‘s determination to reduce direct and indirect costs while maintaining price compliance,” said Mohamed. Ali Al Shorafa Al Hammadi, President of ADDED. .
“We have put in place key business enablers such as the Abu Dhabi Residents Office, Abu Dhabi Investment Office and the Investor Journey program to empower and protect one of the main pillars of the economy, the private sector.”
Discussing the importance of the “investor journey” in Abu Dhabi’s digital transformation, Ali Al Ketbi, Chairman of Department of Government Support – Abu Dhabi, said: “One of the top priorities for the industry of government support is to enable and support integrated and proactive digital government. This would allow for a ready future government.
The program features an informative “simulator” for investors and business owners to seek clarification and instruction; “License Finder” to help identify appropriate legal forms and license types, followed by an easy application process for obtaining trade names and licenses.
After which, investors can identify their business locations via an interactive map by “Property Finder”, obtain digital contracts, Certificates of Conformity (CoC) by Abu Dhabi Civil Defense Authority and facilitate applications for Bank account. As part of the launch phase, a partnership with Mashreq Bank has been initiated, with further commitments to be announced.
