The Dubai Multi Commodities Center, the world's leading free zone and the authority of the Dubai government specialized in trade in goods and projects, today announced the launch of a business support package that aims to support existing companies and new companies to deal with the current economic environment.

This new package includes some of the discounts and exemptions that will be applied starting from April 1, 2020, and it complements the various economic initiatives announced by the UAE government to support the business and financial sectors.

Incentives to be applied to the 17,000 registered companies of the DMCC include the following:

• 100% exemption from fines for late renewal of licenses
100% exemption from penalties for flexible offices and business center of the DMCC until the end of 2020
100% exemption from office sharing permits fees
100% exemption from licensing recovery fees
30% discount on license renewal services
• Exemption from the rental charges for the external areas of the current contracts of retailers in JLT, in the event that the DMCC is the owner of the building
• A two-month rental allowance exemption for commercial establishments whose activities have been suspended temporarily in accordance with Dubai’s economic decisions, in the event that the DMCC is the owner of the building
• A grace period of 3-month rental allowance for flexible office tenants and tenants at the DMCC Business Center or monthly / quarterly installments without a discount

This package also provides the following incentives to new companies currently registered with the DMCC:

• 80% discount on the company's total incorporation fee, if the partners are residents of the JLT
• A discount of up to 50% on the company's total incorporation fee, plus a flexible office for one year
Providing flexible payment options for new tenants at the DMCC Business Center
• Carry out procedures for establishing your company through fully digital channels while you are at home

Unless otherwise stated, the application of these benefits and facilities shall apply from the beginning of April 2020 to the end of June 2020.

Ahmed Bin Sulayem, Chief Executive Officer and CEO of the Dubai Multi Commodities Center, said: "Over the past weeks, our rational leadership has taken a series of decisions and exemplary measures, and has announced effective initiatives to enhance public health protection and ensure a prosperous future for the country. With certainty, it is our duty to share responsibility and support the efforts of the UAE government and its endeavors to ensure that our national economy remains resilient in the face of current conditions. The business support package that we announce today comes from the commitment of the DMCC to establish the UAE’s position "As a preferred destination for doing business. There is no doubt that achieving the economic well-being of all the companies registered with us and our society as a whole is an essential pillar for a stronger exit from the current situation."

For her part, Ferial Ahmadi, Chief Operating Officer of the Dubai Multi Commodities Center, said: "We would like to reassure all concerned that we have taken all necessary measures to ensure business continuity. Protecting our community, registered companies and our employees is our top priority. The business support package that we announced In addition to the wider economic initiatives adopted by the UAE government, it gives relief to our 17,000 registered companies while dealing with the challenges of the changing business environment at an accelerated pace. We are very confident that through our combined efforts we will exceed the current conditions While ensuring the maintenance of a strong economy. "