The changes come as part of efforts to boost business activity in the country…
The UAE’s ministry of Economy has cancelled the fees for over 100 services and reduced the charges for further services as part of efforts to boost business activity in the country.
According to state news agency wam, the government service fees of 102 services will be cancelled, while those of eight services will be reduced by 50 per cent at the ministry’s customer happiness centres and online.
A full list of cancelled services was not detailed in the announcement.
So, what does this mean?
Sultan bin Saeed Al Mansouri, Minister of Economy, stated that the latest amendments will help boost the business community in the UAE as costs will drop for both Emiratis and resident business owners. The changes will benefit large, medium and small enterprises.
Al Mansouri also emphasised that it will aid the ministry in its desire to create a business-friendly environment where private sector companies can grow and flourish.
Here are some of the changes
Under the updated fee structure, the charge for a dispute between agents, appointed representatives and collector from a trade agent has been cut from Dhs12,000 to Dhs8,040.
The fee for publishing official announcements by foreign private joint stock companies has been cut from Dhs20,000 to Dhs10,000, while the fee for the sale, merger and acquisition of foreign companies has been cut from Dhs15,000 to Dhs10,050.
The charges for the registration and renewal of a trademark or trademarks for goods, products and services have been reduced to Dhs6,700 from Dhs10,000.
Meanwhile, the fee for a three-year registration for branches of national companies for auditors has been reduced to Dhs10,050 from Dhs15,000.
The amended fees account for 47 per cent of the total fees levied by the ministry, the report stated.
Last week, the Ministry of Human Resources and Emiratisation (MOHRE) also declared fee reductions ranging from 50 per cent to 94 per cent for 145 services and 128 transactions in a bid to support business owners and investors in the UAE.