Announced by financial regulator Abu Dhabi Global Market (ADGM), the Tech Start-up Licence will allow entrepreneurs to obtain legal operational permits, as well as provide access to funding and business support.
Priced at AED 2,570, the permit is flexible across all sectors of business, and offers applicants up to four residential visas, as well as a business address.
To complement the licence, ADGM has also launched a support programme for entrepreneurs where they can gain insight from local and international advisers with its Professional Services Support Programme.
Commenting on the launch, Dhaher bin Dhaher Al Mheiri, CEO of the ADGM Registration Authority, highlighted that new businesses and start-ups are key to expanding Abu Dhabi’s economic prospects: “The Tech Start-up Licence and the Professional Services Support Programme provide tangible solutions to address set-up costs, access to funding and business support.
“They will serve to make Abu Dhabi an even more attractive base for new businesses and ultimately promote economic diversification, foster growth and stimulate the region’s innovation environment.”