Announcements By DMCC to Help Businesses in Covid-19 Outbreak

The year 2020 was expected to be the most promising year for the entire world including the UAE. However, due to the unforeseen circumstances of the Covid 19 Pandemic, businesses and the economy has faced a setback.

The UAE Government has taken some immediate steps to revive the business and market by bringing in various kinds of discounts in the fees and stimulus packages in order to help an entrepreneur or businessman to keep moving ahead.

Stimulus Packages Announced By DMCC

Dubai Multi Commodity Center (DMCC ) one of the most predominant free zone in Dubai has considered to provide support packages to business communities in the form of wavers and discounts in fees starting from April 2020 to end of 2020 subject to further changes.

Reliefs Applicable To 17000 Bonafide Existing Business Entities

1. 100 % waiver on the late fee
2. 100 % abolishment of penalties of all flexi desk and DMCC Business Center
3. 100 % waiver on office sharing permit fee
4. Company Reinstatement fees 100 % waived off
5. 30 % discount on license renewal fees
6. Waiver on the outdoor area rents if DMCC is the building owner / landlord
7. Suspension of rent for flexi desk and DMCC business center tenants till June 2020
8. Extension of visa validity till end of the year 2020 incase visa is expired after March 2020

Measures Taken For New Registrations

1. Residents of JLT will have 80 percent reduction of fees on total company setup
2. A reduction upto 50 percentage on total company setup fee along with flexi desk for one year
3. New DMCC Business center tenants could have a flexible payment options
4. The DMCC has temporarily arranged for the registrations to take place without the physical presence of the shareholders

All the above measures are liable to change at any time and it is recommended to check with a business consultant the validity and terms & conditions of these measures.

This blog is written by Ms. Florine Das, Director (Client Relationship) at Flyingcolour Business Setup, Accounting & Tax Services in Dubai & across UAE . Feel free to call us for more info regarding setting up a business in DMCC or anywhere across the UAE. You can also send your inquiry to info[at]flyingcolour[dot]com or call +971 4 4542366.