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News & Updates

As part of a strategic move to promote new business formations and reduce costs for existing businesses, the Abu Dhabi Government have issued a blanket reduction in new business licence setup fees and licence renewal fees to AED 1,000 – a reduction of more than 90%.

A collaborative result from multiple Government Departments including the Abu Dhabi Department of Economic Development (ADDED) and the Abu Dhabi Chamber of Commerce and Industry (ADCCI).

The new fees include up to six different activities within the business licence, which will cover all fees from ADDED, Department of Municipalities and Transport, as well as the membership fees for Abu Dhabi Chamber, CoC (Certificate of Conformity) issuance fee, and fees required by Abu Dhabi regulating entities depending on the type of business and business activities.

These new fees are expected to be rolled out from Tuesday 27^th July 2021. 

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The Middle East and North Africa Financial Action Task Force (MENAFATF) has decided to raise the technical compliance assessment of the UAE in three important areas for combating money laundering and terrorist financing.

The decision was endorsed by consensus during the 32nd MENAFATF General Meeting on 6th June, 2021, with the meeting ended with unanimous approval to raise the evaluation of the UAE following discussion of its enhanced follow-up report, which is the UAE’s first since the issuance of its Mutual Evaluation Report by the Financial Action Task Force in April 2020.

The country's compliance rating has also been raised from "partially compliant" to "largely compliant" for Recommendation 25 on transparency and beneficial ownership of legal arrangements and entities.

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In line with this companies in the UAE are approaching the deadline to submit their UBO information – 15th June 2021 for Mainland DED companies, and 30th June 2021 for Freezone companies and branches.

All companies in the UAE must submit their UBO information to the relevant authorities by the deadline. Potential fines are in place for those that miss the deadline – see  UBO Cabinet Decision No 16 of 2021

Please contact us and speak to a member of the PRO Partner Group Team for assistance on your UBO submissions

The UAE has been elected as a member of the United Nations Security Council, marking a “once-in-a-generation-opportunity”.

As of Friday morning 10^th June the Emirates was voted in, accompanied by 4 other countries which will serve the council for 2 years from January 2022.

The other countries nominate to join the UN Security Council with the UAE are Albania, Brazil, Gabon and Ghana.

This is not the first time that the UAE has served the council - between 1986 – 1987, the UAE served 1-Year. The nomination reflects the UAE’s progressing in pushing for women’s rights and its focus on improving climate change and improving regional stability.

Sheikh Abdullah bin Zayed, UAE Minister of Foreign Affairs and International Cooperation, said that the Emirates was ready to "shoulder its share of responsibility for the world’s most pressing challenges".

"We recognise the significant responsibility associated with membership on the Security Council and the extensive challenges the council faces, and we affirm that the UAE will strive to contribute to peace and security with great diligence and determination.”

"I hope that our history as a trusted partner and intermediary will enable us to make a lasting contribution during the two years we serve on the Security Council," Sheikh Abdullah said.

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From 15^th June, Abu Dhabi residents who wish to enter most public places will have to provide a green pass on their Al Hosn app. This rule applies for those who are aged 16 and above.

Abu Dhabi have announced that Shopping Malls and Hypermarkets will immediately comply with the new rules and regulations which have been rolled out.

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Oman reopened land borders with neighbouring GCC countries allowing Omanis and residents to cross the borders for work purposes, however it is mandatory for residents to provide proof of work at the border check points.

Oman’s Supreme Committee, also allowed the reopening of mosques but with a capacity limited to 100 worshippers for the five daily prayers. Commercial activities will now be open including gyms, health clubs, marriage halls and sports grounds. The permissible entry is restricted to 30% capacity or not more than 300 people at a time. Shopping complexes and cafes are to remain at 50% capacity, while children are now allowed to enter malls and shopping centres.

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According to Dr Marwan Al Mulla, CEO of the Health Regulation Sector at the Dubai Health Authority (DHA), Dubai is set to be the next big health tourism destination.

With the emirate’s high vaccination rate boosting visitors’ confidence and the government strategy to promote Dubai as a global medical hub and an increased investment in the health sector, the emirate is expected to attract 500,000 medical tourists this year, as per a study by the Dubai Chamber of Commerce and Industry.

In 2018, the city received about 337,000 medical tourists. Orthopaedics, sports medicine, dermatology and skin care, dentistry and fertility treatment are the top specialities attracting health tourists to Dubai.

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According to the Road Transportation Authority (RTA), Dubai is planning to make public transport emission-free by 2050.

The objective is to reduce the greenhouse gas emissions by 8 million tonnes of carbon dioxide, which is equivalent to saving about Dh3 billion by 2050.

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Drivers and Motorists in the UAE will see an increase in fuel prices as of June 1^st.

Fuel prices are heading towards a record of 27.32% surge since February 2021.

The UAE fuel price committee has announced that the new petrol and diesel prices will increase. Super 98 petrol will cost Dh 2.38 per litre, compared to February’s price Dh 1.91.

Fuel prices had barely changed since February, regardless of the increase in crude oil prices, which was being traded at $50 a barrel in January, which was a result of the economic activity in the world’s largest economy, the US and some parts of the EU

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According to the Abu Dhabi Government, staff who are vaccinated and are able to show active icons on the Alhosn App will be exempt from regular Covid-19 tests.

As a result of this change, Abu Dhabi will bring back 60% of its Government employees to the office. Those who are aged 60 and above and those with chronic diseases and compromised immunity can continue working from home.

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