As a desert oasis turned top-notch business hub in the MENA region, Abu Dhabi attracts niche talents and businesses from all over the world.
Its transparent and safe regulatory environment is ideal for setting up a new business, launching a startup and getting exposure to new markets.
But new businesses in Abu Dhabi should undergo a particular process, and a Tawtheeq is an essential part of this. Let us take a closer look at Tawtheeq’s meaning, benefits and how to get it.
What is a Tawtheeq?
Tawtheeq Abu Dhabi is a regulatory system launched in 2011 to create and maintain a register of tenancy contracts in the Capital. Tawtheeq is originally the Arabic word for “attestation,” so the Tawtheeq contract is simply an attested tenancy contract required from all operating businesses in Abu Dhabi.
It’s available for anyone with a business in Abu Dhabi and doesn’t require citizenship or permanent residency – it’s very accessible.
The importance of a Tawtheeq for business
For most Abu Dhabi Trade Licenses, businesses should have a physical location in which the employees of the government and regulatory authorities can visit or inspect, including the Ministry of Labor, Department of Economic Development (DED), bank verification team and statistics centers.
Applying for a business license in Abu Dhabi has a pre-requisite of having an office or renting a commercial space on the ground floor. And offices must comply with the Economic Department’s regulations, one of which is a Tawtheeq contract.
In simple terms, it’s an attested tenancy contract to prove your company has an actual physical office. That contract is required to register for a trade license, renew an existing one, or run a start-up.
Other than business people and entrepreneurs, we would also recommend the following type of people to get a Tawtheeq:
• A business guru who is planning to maximize his company exposure and conquer the Emirati market.
• A businessman who wants to establish a parent company branch office with 100% ownership.
• An entrepreneur who wants to launch his start-up in a promising environment.