Reduction of fines establishments in Dubai up to 40%

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His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister and Ruler of Dubai, has sent a decree on the value of fines imposed on the economic establishments in the Emirate of Dubai. The text of the Decree No. 1 / / for the year 2012 issued by His Highness in his capacity as Ruler of Dubai to reduce the amount of the fines in accordance with the rates and periods specified in the table of facilities that are limited to benefit from the planned reduction of fines under the preceding paragraph of this article for violations that have been seized by the force of this Decree from the date of issue on the fifth of January.

Sami al-Qamzi Director General of the Department of Economic Development in Dubai that the honor of His Highness Sheikh Mohammed bin Rashid emphasizes the continued support of the Prince of business sectors in the Emirate of Dubai and remove all the obstacles they face, as well as being aware of His Highness the importance of studying all the factors affecting the cost of doing business in the emirate and is considering the reduction to enhance Dubai’s position on the map of international investment and the creation of a competitive investment environment.

He added that the Mecca express directions of the Government in the development of the business environment in the emirate, also confirms the excellence of Dubai in the incentives package to help investors a sense of belonging to the national economy.

He explained that the issuance of this decree comes within the framework of improving the quality and the quality of services provided regardless of the size of the economy to entrepreneurs and investors and more effective by providing time for them to renew their licenses commercial and modify Odaahm own Bmncathm economic, and thereby exercise their activities without any obstacles or difficulties .

He said that the decree will lead to ease the financial burden on owners of private licenses ended and straighten out the situation of the old records and licenses in terms of legal issues and find out the truth to effective facilities helps to prepare the necessary studies and permits for economic activities.

Qamzi urged licensees to quickly take action to renew or cancel their licenses, to take advantage of his honor, according to a specific announced ».

The approved striker Mohamed Saadi, Executive Director of Business Registration and Licensing in the Department of Economic Development in Dubai, the decree includes two types of fines, fines for delay in renewing the business license, fines, inspection, and called on all companies to take advantage of the opportunity to reduce the value of fines imposed.

Economic activities and welcomed the decree said that the decree supports and stimulates the business sectors in the Emirate of Dubai to strengthen its position on the map of international investment and the creation of a competitive investment environment.