DSOA implements additional COVID-19 incentives, packages

Published: 11 May 2020 - 9:45 a.m.

Dubai Silicon Oasis Authority (DSOA) the regulatory body for Dubai Silicon Oasis (DSO) has announced additional incentives and packages as part of its efforts to mitigate the impact of the COVID-19 outbreak.

The additional exemptions and incentives package include waiving both a AED12,000 license fee and AED6,900 registration package for new clients for the first year until end of June 2020; the new client registration package includes a one-time registration fee, shareholder resolution fee, specimen signature fee, trade name reservation fee, memorandum of articles and association.

Under these packages, DSOA will also provide a one-month grace period for new companies, UAE news agency Wam reported.

Commenting on the additional incentives, vice chairman and chief executive officer of DSOA, Dr Mohammed Al Zarooni, said: "The additional incentives are in line with the directives of the Dubai government's decision to gradually open up for businesses. Strategic collaboration with our business partners based in DSO is already well established, and we look forward to strengthening these relationships further in an effort to anticipate future business strategies and needs."

Al Zarooni further said that the government relief packages in Dubai and the UAE have contributed to reducing the economic and social impacts of the global crisis.

Recently, DSOA rolled out exemptions, incentives, and flexible payment plans for companies, commercial tenants, and residents living in buildings owned by the authority, Construction Week had reported. The recently-launched incentives are in addition to the existing incentives and measures.

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