Stimulating Business Growth in Dubai and Abu Dhabi
In an effort to stimulate business growth and economic development, Dubai and Abu Dhabi are exempting companies from administrative fines imposed by Department of Economic Development.
The ruler of Dubai has issued a decree waiving fines imposed on businesses whose licenses have expired until the end of 2018. This decree is a positive step in promoting economic growth and consolidating Dubai’s position as one of the important commercial and economic centres internationally.
Meanwhile, Abu Dhabi said it will exempt businesses whose licenses have not been valid for more than 24 months and which have applied for renewal, liquidation or cancellation of trade license – from paying all delayed and accumulated fees.