Good news if your offices are in one of Dubai's Free Zones.
It's just been announced that businesses there will benefit from a raft of economic measures to help them out.
These include those registered in Dubai Silicon Oasis Authority, Dubai Airport Free Zone Authority, Jebel Ali Free Zone, Dubai World Trade Centre, Dubai International Financial Centre (DIFC), Dubai Development Authority, Dubai South, Meydan City Corporation, and Dubai Multi Commodities Centre (DMCC).
The package, launched by the Dubai Free Zone Council, includes postponement of rent payments for six months; installments for payments; refunding security deposits and guarantees; cancellation of fines for companies and individuals; and permitting temporary contracts that allow the free movement of labour between free zones companies for the rest of the year.
Under the directive His Highness Sheiks ofh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, is aimed to help small to medium firms during the global COVID-19 outbreak.
Dubai Free Zones has around 45,000 companies and 390,000 employees, accounting for approximately a third of Dubai’s GDP.