Post COVID 19: Dubai Back to Normal

As businesses around the world reopen and resume with people getting back to their work and their daily routine, Dubai Government has taken with valiant yet ingenious steps to overcome the crisis in the Emirate. Economic activities have resumed with strict Covid-19 preventative measures, including social distancing, restricted capacity and obligatory use of face mask in an effort to return to normal life gradually. National Emergency, Crisis and Disaster Management Authority (NCEMA) has lifted the restrictions on movement in UAE by allowing all the malls and other commercial creations in Dubai to return to their regular working hours including the Dubai metro, Gyms, Cinemas, public beaches, restaurants and some educational centers working as per normal. Emirates Airline also announced that it was ready to reopen borders and airlines take bookings for flights from Dubai to 12 Arab countries from the start of July. Emirates began operating scheduled flight services to nine destinations around the world from May 21, including London Heathrow, Frankfurt, Paris, Milan, Madrid, Chicago, Toronto, Sydney and Melbourne. Dubai Economic Department has mentioned that they will continue the inspection of premises to ensure that everyone is operating by following the guidelines of Covid-19 safety measure. Support by Dubai Government

• Dubai Government has launched an AED 1.5 billion Economic Stimulus Package which will enhance the liquidity and reduce the impact of the current global economic situation
• Business Relief package has been introduced for bank customers to ease the monetarist burden on their customer in the current economic environment caused by Covid-19
• Central Bank of the UAE (CBUAE’s) has launched an AED 100 billion comprehensive Economic support scheme for retail and corporate customers affected by Covid-19
• Business Continuity Readiness Guidelines has been launched by NCEMA as a part of effort to boost the nation’s readiness and response to emergencies and to transfer the best international practices
• Dubai Free zones Economic stimulus package has been announced to reduce business cost and enhance financial liquidity of companies operating in free zones by postponing rent payments, refunding security deposits and guarantees, cancelling fines and permitting temporary contracts that allows free movement of labour between companies operating in the free zones to continue for the rest of the year

Even though the Government steps have allowed people to move around, it is too early for us to believe that we are totally out of risk. We must be extra careful and observant while venturing out for jobs and other activities and everyone should be responsible and should follow social distancing strictly, so we can overcome the pandemic, while having minimal impact on businesses and the economy. This blog is written by Ms. Manali Chandegala, Partner Relation Executive at Flyingcolour Business Setup, VAT and Accounting Services, Dubai. If you have any query regarding setting up a business in Dubai or anywhere across the UAE then please contact us at +971 4 4542366 or email us at info[at]flyingcolour[dot]com.