News

Abu Dhabi Has Dropped Business Setup Fees By Up To 94%

Thanks to the new initiative, setting up a new business in Abu Dhabi will cost you as little as 1,000 AED.

Published

3 years ago

August 6, 2021

Joanna Melki

abu dhabi has dropped business setup fees by up to 94 percent

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Abu Dhabi Department of Economic Development and other government entities are determined to make the capital of the United Arab Emirates even more attractive to entrepreneurs because they’ve decided to lower business setup fees by up to 94 percent.

“We hope this significant change in fee structure helps to further ease the set-up process for new and existing investors,” explains Mohammed Al Shorafa, chairman of Abu Dhabi Department of Economic Development. “Our goal for Abu Dhabi, as part of our new economic strategy, is to create a thriving business environment that encourages growth and innovation. Ease of starting and managing a business is a key lever, and we strongly believe the restructuring of fees will help us achieve this goal.”

The new business setup fees amount to just 1,000 AED ($273 USD), and they came to effect on July 27, 2021, covering all fees from Abu Dhabi government entities such as Abu Dhabi Department of Economic Development, the Department of Municipalities and Transport, membership fees for Abu Dhabi Chamber, CoC (Certificate of Conformity) issuance fee, and others.

This isn’t the first move Abu Dhabi have made in order to attract more entrepreneurship. In the past, the city has provided everything from rent rebates and discounts on utility bills to loan guarantee packages. Combined, all these business growth measures create an environment that’s especially favorable to tech entrepreneurs, who often compete with large enterprises with minimal financial resources. The less fees and other expenses they have to worry about, the more money they can dedicate to developing a great product and making it available to customers.

Also Read: How To Start An Online Business In Dubai (2023 Guide)

Abu Dhabi expects its economy to grow as much as 8 percent during the next two years as it recovers from the pandemic. The growth is expected to be driven mainly by government spending, foreign direct investment, the oil sector, and financial services.

Related Topics:Abu Dhabi United Arab Emirates

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chatlyn Unveils Hospitality Chatbot At Arabian Travel Market 2024

The advanced AI software sets new industry standards and can understand and respond to detailed customer queries.

Published

17 mins ago

May 6, 2024

Nour Nasir

chatlyn

chatlyn, a leading provider of guest experience software for the travel and hospitality sector, has unveiled its latest AI chatbot at the Arabian Travel Market (ATM) 2024 as part of a strategic expansion into the Middle East.

The new chatbot demonstrates exceptional proficiency in understanding natural language nuances and grammatical structures, and can accommodate various languages, including Arabic. The AI bot’s capability ensures prompt, accurate responses, benefiting hotels with diverse international guest lists and significantly reducing response times.

According to chatlyn, its latest creation has “the capacity to process up to 4,000 tokens and a doubled data capacity,” and is able to outperform competitors in depth and responsiveness during every interaction. Moreover, users can upload business PDFs to receive precise answers instantly, showcasing the chatbot’s effectiveness as a dynamic knowledge repository.

“During the BETA phase, we saw customers increase their success rate in resolving queries by fifteen times simply by uploading a PDF with their information and integrating the chatbot into their main communication channels,” explained Michael Urbanek, chatlyn’s CTO.

Also Read: Joby To Establish All-Electric Air Taxi Ecosystem Across The UAE

Since its inception in late 2022, chatlyn has experienced rapid expansion, and now serves over 1,000 properties globally, including numerous renowned brands in the travel and hospitality sector.

The company’s product suite is focused on improving customer engagement in hospitality, featuring an omnichannel inbox, AI assistants, and Automation Studio, for seamless interaction across web chat, WhatsApp, email, and social media. This AI-powered platform enhances customer interactions, prioritizing satisfaction and operational efficiency.

chatlyn has already established a strong foothold in the Middle East, and now collaborates with various hospitality companies and properties, including GoMosafer, La Quinta by Wyndham, Luxury Bookings, and Amsaan Tours.