Dubai goes installment


IN Dubai, businesses and companies are being offered every help they could get from the government for them to overcome obstacles and maintain their competitiveness.

For instance, the Department of Economic Development (DED) in Dubai has launched a service package to help businesses, more so the delinquent, to make it easier for them to clear their fines and renew their licenses.

Under that package, businesses will be afforded to pay their fees and fines in easy installments, freeze their trade license for a year and seek an amicable settlement with DED on commercial violations.

Mohammad Al Shehi, Deputy CEO, Corporate Support Services sector at DED, said: “The Department of Economic Development is committed to enhancing competitiveness in Dubai through extending value-added services that help business owners continue their activity and sustain their business. Eliminating all obstacles faced by companies is important to develop the economy and create a competitive environment conducive to investment in Dubai.”

DED had earlier made a bold move to exempt companies and business establishments in Dubai from all fines imposed on them and granted them until the end of 2018 to renew their licenses.

The new package allows for the payment of license renewal fees and accumulated fines through convenient installments within 12 months.

Investors can apply for the fees not to be paid and avoid fines in case they wish to temporarily freeze doing business while retaining their license.

The waiver applies to fines issued before April 14, 2018 and for fines issued after this date license holders can take advantage of the offer of amicable settlement and payment in installments.

DED is extending the facility in cooperation with its strategic partner Aafaq Islamic Finance and a number of local banks.

Business owners can approach any of the DED service centers throughout Dubai or visit the DED website for more details on the facility.

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