In response to the UAE Government’s efforts to provide relief to businesses during the COVID-19 pandemic, a number of free zones have announced major relief packages including fee waivers, rent holidays and waiver of penalties.
M/HQ has compiled – and will be updating on an ongoing basis – a “Stimulus Tracker” highlighting key incentives provided by UAE various free zones and registrars.
The Stimulus Tracker complements M/HQ’s “Which Free Zone for Which Purpose” guide – see here –, a comparison of UAE’s major free zones, their core focus, key features, and USPs.
These two sources will help you and/or your clients determine which free zone is most suitable for every specific business concept.
DMCC extends Business Support Package
DMCC has announced the extension of validity of its relief packages, now running until 31 August 2020. The zone also introduced new incentives.
The additional incentives include up to 33% off on license renewal fees, 30% off on additional license fees, 50% off on dormancy and license reinstatement and issuance fees, 2 months rent holiday for flexi desk and DMCC Business Centre tenants renewals, and 100% waiver of change of address fee when moving from a physical office to a DMCC Business Centre.
For new applicants, DMCC is offering 100% waiver on initial application, registration, establishment card and AOA fees until 31 July 2020.
100% waiver still applies to late license renewal penalties, Flexi desk and DMCC Business Centre penalties and office Sharing Permit fee.
For more information about this topic, please see our publications:
Structuring Alert: UAE Free zones Stimulus Tracker update [4.1]
Structuring Alert: UAE Free zones Stimulus Tracker update [4.0]
Structuring Alert: UAE Free zones Stimulus Tracker update [3.1]
Structuring Alert: UAE Free zones Stimulus Tracker update [3.0]
Structuring Alert: UAE Free zones Stimulus Tracker update [2.1]
Structuring Alert: UAE Free zones launch Economic Stimulus Packages
DMCC – New Law introduces DMCC Regulator