Abu Dhabi Department of Economic Development (ADDED) announced the release of a professional license allowing foreign professionals to establish and fully own professional business companies within 604 professional activities that match their professional experience and qualifications.
They include a wide variety of activities, including accounting, training, consulting, beauty salons, computers and internet network companies, etc. These activities are fully owned and managed by foreign professionals.
According to Rashid Abdulkarim Al Blooshi, undersecretary of ADDED, the professional license enhances professional and customer confidence. The decision creates an incubating environment for the professional community, which accelerates the transition to a knowledge-based economy.
He added, businesses seeking a license for consulting are safer with a provider who offers low fees and easy issuance, especially if the business is in the form of an individual establishment or group of professionals companies, and there will be more than one investor participating. Licenses of this type are easy to set up or adjust, which will in turn streamline business practices across the Emirate of Abu Dhabi.
ADDED indicated a local service agent was required for the majority of the companies if they did not have an Emirati partner. Local service agents are responsible for managing licensing requirements without incurring any financial liability towards the company or its activities in Abu Dhabi or anywhere else.
ADDED will also issue a form of service agent agreement to identify and demonstrate the relationship between all the partners. A model of the professional company’s Articles of Association will also be made available on the Department’s website.
Also, ADDED highlighted that opening a commercial branch without prejudice to a professional license could be possible if it is consistent with or complementary to the professional activity. Furthermore, existing establishments can take advantage of this decision by converting their status from a commercial to a professional facility while maintaining their registered number and date of incorporation.
A professional work license is a specialized license for professional activities, such as any activity performed by an investor within his field of expertise and matching his academic or professional background.