Wednesday 3 June 2020

DMCC rolls out support package for businesses

DUBAI, March 26, 2020

DMCC, a 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 April 1, 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, a statement said.
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 April 1 until June 30 (unless stated otherwise), the statement said. – TradeArabia News Service


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