The UAE’s Ministry of Economy has slashed the fees for 94 different services.
Businesses and individuals can look forward to reductions ranging from 25 to 98 per cent.
It’s the latest in a series of measures aimed at easing the cost of doing business and supporting companies affected by the COVID-19 pandemic.
The fee reductions mainly cover activities related to investment, production, trade, import, export and innovation. Such services include commercial registration services, commercial agencies, trademarks, origin, auditors and intellectual properties.
Sultan bin Saeed Al Mansouri, Minister of Economy, said the reduction in fees is "a distinct and important step being made to support the business and companies sector in the UAE during the current circumstances."
The financial impact on the business sector as a result of this initiative is estimated to be worth AED 113 million.
Volkswagen flags 50,000 job cuts across group
UAE tightens anti-fraud rules, sets 24-hour deadline to withdraw fake goods
Apple facing $2.7 billion UK lawsuit over 'unfair' app tracking rules
Middle East Energy 2026 opens in Dubai
Shein shares slide in Hong Kong debut on worries about trade, regulatory risks
