Stock Masdar City
Masdar City in Abu Dhabi is casting the net wide with its latest business setup offer. Image Credit: Supplied

Dubai: Abu Dhabi’s Masdar City has introduced a new set of licensing fee options for businesses wanting to set up there, as free zones in the country get hyper competitive to draw in new companies.

There are three packages as part of the latest initiative, with the first allowing a business set up for Dh1,000. A business can engage in two activities under this Package A, though no visas will be issued. Package B costs Dh7,000 and allowing four activities and one visa. A third package costs Dh12,000 for the license fee, allows five activities and two visas. (Masdar City is part of Abu Dhabi wealth fund Mubadala's portfolio.)

“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, Masdar City.

“Masdar City fully supports this, and we look forward to welcoming even more innovative companies to our growing community.”