Al Reem Island Businesses will need to convert to an ADGM licence

All retail businesses in Al Reem Island must convert from an ADDED Mainland licence to an ADGM free zone licence by 30th March 2024 and all other businesses have until 31st December 2024 to convert to an ADGM licence.

In April 2023, Abu Dhabi Global Market (ADGM) expanded its presence into Al Reem Island, Abu Dhabi, previously occupied by numerous Mainland businesses registered under the Abu Dhabi Department of Economic Development (ADDED). From November 2023 onward, all new businesses on Al Reem Island are required to obtain a business license through ADGM Freezone. Existing companies must also convert their licenses to ADGM.

• Retailers are required to convert their ADDED Mainland license to an ADGM Freezone license by 30 March 2024.
• Other companies have until 31 December 2024, to make this conversion or relocate from Al Reem Island.

How do I convert my Abu Dhabi Mainland DED licence on Al Reem Island to ADGM?

To convert an ADDED Mainland license to an ADGM license, retailers can follow these steps by the March 30, 2024 deadline:

1. Apply to ADDED Mainland licensing authority and obtain a No Objection Certificate (NOC) for transfer to ADGM.
2. Apply to ADGM for transfer by completing the application form for license and commercial registry transfer to Abu Dhabi Global Market. Assistance with the form and application is available through Sovereign and PRO Partner Group.
3. Follow up with ADGM to finalize the license transfer and update.

For other businesses with the December 31, 2024 deadline:

1. Conduct an initial pre-check with Sovereign and PRO Partner Group (SOV PPG) to ensure business activities align with ADGM.
2. Apply to ADDED Mainland licensing authority for an NOC to transfer to ADGM.
3. Apply to ADGM for transfer by completing the application form for license and commercial registry transfer to Abu Dhabi Global Market, with assistance available from SOV PPG.
4. Follow up with ADGM to finalize the license transfer and update.

How can we assist?

Sovereign and PRO Partner Group, as registered corporate service providers in ADGM with ADDED licenses in Al Reem Island, can assist businesses with the conversion process, offering an initial pre-check to align business activities with ADGM and facilitating the entire transfer process with their close connections to ADDED and ADGM authorities.

Read the full blog >