Abu Dhabi goes digital with ‘Investor Journey’ to ease business set up

Abu Dhabi: Abu Dhabi Department of Economic Development he launched Investor Journey to help with the needs of existing and prospective businesses in the emirates.

This is done in partnership with Department of Government Support, represented by Abu Dhabi Digital Authority.

The new initiate will help investors by reducing costs and facilitate new business set up. Following Abu Dhabi’s lowering of set-up and renewal fees by 93 per cent to just Dh1,000, and the cancellation of 71 per cent of business set-up requirements in 2021, the ‘Investor Journey’ brings a fully digitalised experience, guiding investors through a range of services, with minimal physical touchpoints. The transactions and approval procedures of government entities have been unified as well.

“Our active cooperation with partners in the public and specifically the private sectors for the benefit of business owners is testament to Abu Dhabi’s determination towards reducing both direct and indirect costs while maintaining price compliance,” said Mohamed Ali Al Shorafa Al Hammadi, Chairman of ADDED.

“We have key business enablers in place such Abu Dhabi Residents Office, Abu Dhabi Investment Office and the Investor Journey programme to empower and safeguard one of the economy’s key pillars, the private sector.”

Discussing the importance of the ‘Investor Journey’ in the digital transformation of Abu Dhabi, Ali Al Ketbi, Chairman of the Department of Government Support - Abu Dhabi, said: “One of the main priorities for the government support sector is to enable and support an integrated and proactive digital government. This would enable a future ready government.”

The programme offers an informative ‘Simulator’ allowing investors and business owners to seek clarity and instructions; ‘Licence Finder’ to help identify suitable legal forms and licence types, followed by an easy application process for obtaining trade names and licences.

After which, investors can identify locations for their businesses via an interactive map by ‘Property Finder’, obtain digital contracts, Certificates of Conformity (CoC) by Abu Dhabi Civil Defence Authority, and facilitates bank account applications. As part of the launch phase, a partnership with Mashreq Bank was initiated, with further engagements to be announced.