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UAE reduces, cancels fees for over 1,500 services

Applicable to services by ministries of Interior, Economy, and Human Resources and Emiratization

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Fees for more than 1,500 federal government services fees will either be reduced or canceled, the UAE Ministry of Finance has said.

This follows the Cabinet decision issued on the reduction and cancellation of fees for the services of some federal entities, which took effect on July 1, 2019.

Certain fees have been reduced by up to 50 percent to enhance the appeal of the national economy, and reduce the cost of doing business and bolster the competitiveness of the UAE. According to the decision, the changes will be applicable to more than 1,500 federal services for three main federal ministries.

Specifically, 1,200 fees were reduced or canceled at the Ministry of Interior, 80 at the Ministry of Economy, and 200 at the Ministry of Human Resources and Emiratization.

The decision follows a study of service fees in the UAE in comparison with those in neighboring countries. The study also identified the required measures in accordance with the government's aim to strengthen the economy and increase the competitiveness of the UAE.

Services at the Ministry of Interior that will come under this move include the issuance or renewal of security licenses, security guard licenses and surveillance systems license. The list of canceled fees includes a wide range of business and industrial licensing services, which is a boost for investors and SMEs.

The reduced service fees at the Ministry of Economy include renewing the registration of foreign subsidiaries, registration and renewal of foreign trademark registration, sale or acquisition services for foreign companies, and dispute services. The list of canceled service fees includes requests for information, annual fees for years of protection, requests for renewal and registration of an agent, and other services that will reduce financial burden on companies operating in the country.

The list of fees for reduced and canceled services in the Ministry of Human Resources and Emiratization encompass more than 200 services, including the issuance and renewal of work permits, the amendment of employment contracts, training permits within the country, work permits outside the nation, permits for workers to move from one facility to another, and other services that help support companies' competitiveness and enhance their ability to grow and invest in the market.

These decisions are expected to further enhance the business environment in the UAE, empower entrepreneurs and encourage them to create new investment opportunities in the UAE. The move will also contribute to the creation of more jobs in the country and strengthen its competitive standing as a global business hub.

 

 

Source

Dubai FDI