Abu Dhabi Global Market (ADGM) has announced significant changes to its licensing fee schedule, which will be effective from January 1, 2025. The revisions will see reductions of 50% or more for obtaining non-financial and retail licences, part of an initiative to enhance ADGM’s business ecosystem.
Under the new fee structure, new registrations for non-financial businesses will drop from $10,000 to $5,000. The annual renewal fees for these licences will also decrease from $8,000 to $5,000. Retail category fees will see even more dramatic cuts, with new registration fees reduced from $6,000 to $2,000 and annual renewal fees halved to $2,000.
“To facilitate a seamless transition, ADGM and its Registration Authority have proactively introduced various initiatives, prioritising our business community at the core of every decision,” said Hamad Sayah Al Mazrouei, CEO of ADGM RA. “We assessed the financial impact on different business categories and previously implemented a fee waiver for qualifying non-financial and retail businesses on Al Reem Island.”
These changes coincide with the end of the current transition period and will apply across all ADGM jurisdictions, including Al Maryah and Al Reem Island. The fee exemption for qualifying non-financial and retail businesses on Al Reem Island will end on October 31, 2024.
Other fee revisions include increases for the financial category, with new fees rising from $15,000 to $20,000 and renewals from $13,000 to $15,000. Tech and fintech startups will see minor adjustments, with fees changing from $1,000 to $1,500 for both new and renewal licences. Fees for the Special Purpose Vehicle (SPV) category remain unchanged at $1,900.
The full revised fee schedule will be published in December 2024.
