Streamlined Work Permit And Licence Transfer For Al Reem Island Companies Announced

In a significant move aimed at enhancing the business landscape in Abu Dhabi, the Ministry of Human Resources and Emiratisation (MoHRE) together with Abu Dhabi Global Market (ADGM) have introduced new procedures to facilitate the transfer of permits for companies based on Al Reem Island to ADGM. This development is a direct outcome of a Memorandum of Understanding (MoU) signed by both parties, marking a milestone in the collaboration between governmental entities and financial districts in the UAE.

The MoU was officially signed in Abu Dhabi by Khalil Al Khoori, Under-Secretary for Human Resources Affairs at MoHRE, and Hamad Sayah Al Mazrouei, CEO of the Registration Authority at ADGM. The ceremony was attended by officials from both sides, underscoring the importance of this partnership. This agreement underscores a shared commitment to streamline business operations and enhance the competitiveness of the UAE's labour market.

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Al Khoori highlighted the significance of this MoU in fostering cooperation and integrating roles between MoHRE and ADGM. He emphasized that this partnership is aimed at improving the ease of doing business in the UAE, thereby making the labour market more efficient, attractive, and competitive. According to Al Khoori, such initiatives are crucial for providing services that ensure maximum efficiency and ease.

On his part, Al Mazrouei expressed gratitude towards MoHRE for its support in simplifying the licence transfer process for companies on Al Reem Island. He pointed out that this collaboration serves as a model for future integrations between ADGM and various government entities. The goal is to create an environment that is both attractive and supportive for the business sector in Abu Dhabi.

Al Mazrouei further elaborated on the benefits of this MoU, stating that it is part of ongoing efforts to ensure a seamless transition for companies moving to Abu Dhabi Global Market. He highlighted that relocating to ADGM allows businesses to leverage its comprehensive and advanced ecosystem, thereby adding significant value to their operations.

This initiative between MoHRE and ADGM represents a forward-thinking approach to fostering a conducive business environment in Abu Dhabi. By simplifying administrative processes and promoting cooperation between government entities and financial districts, Abu Dhabi is set to reinforce its position as a leading business hub in the region.

With inputs from WAM