A new authority was launched in Abu Dhabi to ease businesses setup and further regulate the sector across the emirate. Th decision by the Abu Dhabi Department of Economic Development (ADDED) to launch Abu Dhabi Registration and Licensing Authority (ADRA) follows the Abu Dhabi Executive Council’s resolution to establish the entity. Responsibilities of the authority include overseeing the registration of businesses in the emirate and its non-financial economic free zones and coordinating with relevant entities to streamline licensing procedures. It will also ensure full compliance with laws and regulations applicable in the emirate and its non-financial economic free zones, including those related to anti-money laundering, combating the financing of suspicious activities, and addressing illicit organisations. ADRA will also develop a unified database consolidating data on economic establishments across the emirate’s mainland and its non-financial free zones. This initiative aims to facilitate the management of the commercial registry, streamline licensing procedures for economic establishments, manage regulatory affairs, and ensure compliance with applicable laws and regulations. It will facilitate business establishment, operations and growth to encourage investment and foster a robust ecosystem for the business sector. It will introduce new types of licences, creating opportunities to attract talents, investors, and entrepreneurs, enabling them […]