26 May 2020
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DMCC Announces Support Package For Business To Boost UAE’S Economic Resilience
Comprehensive package includes discounts and waivers for DMCC’s existing member companies, as well as new companies looking to set up
By: Diamond World News Service
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Mar 27 2020 2:38PM
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Reference: 24838  

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DMCC – the world’s flagship Free Zone and Government of Dubai Authority on commodities trade and enterprise – today announced the roll-out of a Business Support Package to support its business community as well as new companies navigate the current economic environment.

The package, applicable as of 1 April 2020, includes a range of discounts and waivers, and complements the various economic initiatives announced by the UAE Government to support the business and financial sectors.

Measures applicable to DMCC’s existing 17,000 member companies include:

  • 100% waiver for late licence renewal penalties
  • 100% waiver for all Flexi Desk and DMCC Business Centre penalties until the end of 2020
  • 100% waiver of the Office Sharing Permit fee
  • 100% waiver of the Company Reinstatement fees
  • 30% discount on licence renewal
  • Waiver of outdoor area rents for JLT retailers with existing contracts, where DMCC is the building owner/landlord
  • Waiver of rent for 2 months for commercial establishments impacted by the latest Dubai Economy directive requiring a temporary closure, where DMCC is the building owner/landlord
  • A 3-month suspension of rent for Flexi Desk and DMCC Business Centre tenants renewals or monthly/quarterly instalment with no discount

Incentives for new registrations, and companies already in the process of registering in DMCC include:

  • 80% reduction on the total company set up fee if shareholders are residents of JLT
  • Up to 50% reduction on the total company set up fee, along with a Flexi Desk for 1 year
  • Flexible payment options for new DMCC Business Centre tenants
  • Complete digital process for business set up from the comfort of your home

 These measures will apply from 1 April 2020 until 30 June 2020 (unless stated otherwise).

 

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