Pro Partner Group: Al Reem Island businesses need to convert to 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.
As of November 2023, any new business wishing to set up on Al Reem Island must obtain a business licence through the ADGM Freezone. This means that an ADGM licence will be required for Al Reem Island moving forward and that existing companies must convert their licences to ADGM.
Sovereign and PPG are experiencing this change in Al Reem Island first-hand. We ourselves have both mainland ADDED licence in Al Reem Island - Addax Tower and are a registered corporate services provider in ADGM and therefore have in-depth knowledge of the steps that need to be taken to convert to an ADGM free zone licence. As an ADGM registered Corporate Service Provider (CSP) we can facilitate the process with the regulators ourselves.