Dubai World Trade Centre (DWTC) has announced an up to 70% reduction on licensing and incorporation fees within its authority, which includes the One Central development.
DWTCA’s revised fees will witness a decrease of 50-70% on FZ registration and licensing fees throughout the DWTC Authority (DWTCA), a free zone offering offshore licenses for businesses.
This will also include a 40-50% reduction on immigration related service fees depending on the scale of business operation, dramatically lowering the fixed and ongoing costs of doing business for new and existing companies, and consequently enabling accelerated ROI for the FZ entities.
DWTC is hoping the new programme will help provide competitive offerings, spurring business and sector growth.
HE Helal Saeed Almarri, director general, DWTCA and Dubai Tourism and Commerce Marketing (DTCM), said: “DWTC’s commercial propositions are designed to support the government’s mandate on reducing fees to scale down the cost of doing business for the private sector and to offer a viable ecosystem that supports sustainable, long-term success, as well as attracts regional and global headquarters to consolidate and relocate their operations at considerable scale to Dubai.
“The significant reductions in licensing and incorporation fees further support The Executive Council of Dubai’s recently announced wide-ranging policy measures, and will collectively increase the competitiveness of, and the ease of doing business within the DWTCA free zone.”
The UAE is currently ranked 17 out of 137 countries, rising seven places over its 24th ranking in 2012-13.