Due to the negative impact of the COVID-19 pandemic on business activity around the world, a few of the UAE free zones are proposing different packages of measures aimed to simulate interest of new investors:
DMCC
The persons making applications for DMCC Company from 1 April and until 31 May 2020 might benefit from the new measures implemented by DMCC. For example, the proposed measures include (1) up to 50% reduction on the total company setup fee, inclusive of one-year Flexi desk, (2) flexible payment options for new DMCC Business Centre tenants and (3) complete digital process for business set up.
At the same time, the offer for single shareholder consists of the following: (a) a discount of AED 9,000 on the Registration Fee when setting up a company; and (b) possibility to opt for a special Flexi Desk for AED 232 (inclusive of VAT) and an administration fee of AED 656 (inclusiveof VAT). Additionally, Initial Application Feein the amount of AED 1,035 should be paid along with the submission of theinitial application for company setup in DMCC. The validity of terms of the offer are limited by the period of one year.
If there are more than two shareholders in a company registered in DMCC from 1 April and until 31 May 2020, the proposed discount is only AED 4,000 on the Registration Fee. Nevertheless, the possibility to opt for a special Flexi Desk for AED 232 (inclusive of VAT) and an administration fee of AED 656 (inclusive of VAT) continues to be applicable in this case.
RAKEZ
At the end of March 2020, RAKEZ announces its Spring Office Packages including the following benefits:
- Complete digital process for business set up including online signing of Memorandum of Association;
- Additional two free activities in Commercial or Services licence worth AED 4,000;
- Availability of Instalment plans;
- Multiple year packages;
- Free UAE Investor Visa.
Besides, measures in the framework of SME Client Support Boosters for RAKEZ’s co-working and office clients include the following ones:
- 100% waiver of security deposit for new visa requests;
- 100% waiver of package downgrade fees;
- 25% discount on new dependent visas;
- 100% waiver of activity change fees;
- up to 35% discountfor an enclosed office or a workstation in a co-working environment.
UAQFTZ
All new entities are facilitated with a threemonthbonus on the lease and licence. New companies could pay the fees for 12 months and get the license &lease for 15 months (applicable for the companies registering until 14th July 2020). The new investor support plan adds up to a total cost savings of 25%.
Furthermore, all business centre packages are upgraded with an additional visa eligibility, whereby the investors can obtain added support from their business partners or employees with huge savings. For instance, Startup Business license (AED 13,500) from now onwards provides two visa eligibility instead of one.
