DMCC Announces Support Package for Business to Boost UAE’s Economic Resilience
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.
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