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Ministry cancels 61 IP transaction fees

Move is aimed at increasing the country’s ease of doing business

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The UAE Ministry of Economy has waived and/or reduced the fees on a list of services it offers to businesses as part of a move to further boost the country's appeal for doing business.

The UAE ranks 11th internationally in the ease of doing business, according to the World Bank.

The list includes canceled service fees for intellectual property, commercial agencies, trademarks, industrial licenses, auditing accounts, patent and industrial designs, and commercial registration management, which the Ministry says will contribute to the reduction of financial expenses on companies.

The list shows that 15 transaction fees have been canceled for trademarks, 14 for industrial license services, nine for commercial registration, nine for auditing accounts, five for commercial agencies, and two services for intellectual property.

The fees that have been canceled range from USD 27 to USD 1,360.
The ministry's gesture is in line with the implementation of Cabinet Resolution No. 51 of 2019 on the reduction of government fees for services it provides to customers and businesses.

 

 

Source

Dubai FDI