Masdar City unveils new licence packages to support businesses in its free zone

The charges range from Dh1,000 to Dh12,000, depending on the package

As part of the initiative, three packages will be offered to businesses along with a number of visas. Chris Whiteoak / The National

Masdar City is offering new business packages with licence fees that range from Dh1,000 to Dh12,000 as it looks to attract more companies to set up operations in its free zone and support existing businesses.

Companies will be offered three packages along with a number of visas, Masdar said on Monday.

“With the recent government notice to ease the business environment, Abu Dhabi’s position as an attractive global hub that promotes economic diversification, empowers global talent and supports the emirate’s sustainable development is further reinforced,” said Abdulla Balalaa, executive director of Masdar City.

The licence fees for Packages A, B and C are Dh1,000, Dh7,000 and Dh12,000, respectively. Masdar City will grant one visa under Package B and two under Package C.

Abu Dhabi has unveiled several initiatives to improve the ease of doing business and its global competitiveness as it prepares for next 50 years of economic growth.

In July, the emirate cut business set-up fees by 94 per cent to Dh1,000 in a bid to attract more investors and boost foreign direct investment.

The new fee structure is applicable to six activities under the business licences and will cover all fees from Abu Dhabi government entities.

Licence renewal fees have also been reduced to Dh1,000 but federal fees will continue to apply, the economic department said at the time.

Masdar City is home to the headquarters of the International Renewable Energy Agency, as well as several Fortune 500 companies, a graduate-level research institute and a number of other businesses.