UAE, Excellence in Business Despite COVID19
The constraints on business and trade due to corona have affected regional and global markets,
decreased manufacturing production, and most importantly the global commodities exchange. Many
countries have had a very difficult time in maintaining the status quo of business operations, but not the
UAE continues to be resilient thru its visionary leadership. No nation in the region or on the global
arena has surpassed the UAE in new business set-up, establishment, and incorporation policies, the UAE
continues to show resilience in promoting the healthy growth of all aspects of the private sector.
The Emirate of Abu Dhabi in an effort to promote the private sector has issued a decree slashing the
cost of new business set-up and new company establishment, formation, and incorporation by 94% to
just a thousand dirhams. This decree coupled with the abundance of the licensed trade/company
commercial activities is sure to reflect an increase in the private sector in all industries. The good news
is that the fee reduction also includes the renewal of business license, commercial license, and renewal
of trade license operating within the emirate.
The Government of Dubai has also initiated some very drastic reductions on governmental fees
concerned with the private sector to ensure resilient and healthy economic growth. Government fees
for 88 services have been slashed. Translating into a streamlined new company establishment,
formation, incorporation, and business setup process. The UAE continues to be ranked amongst the
easiest, fastest, and safest places in the world to open a new business or establish a new company.
The emirate of Ajman, the first emirate to offer freehold real estate ownership to expatriates and
residents have also instituted very invigorating incentives, the government of Ajman announced approval
of 100% business ownership for over 1000 commercial activities. This decree shall highly stimulate the
the private sector in Ajman which positions it as the emirate where an expatriate can outright own both his
business and the real estate it occupies.
Both Al Fujairah and RAK on the other hand have completely absolved certain sectors affected by the
COVID19 Pandemic from delayed or late penalties and 100% exemption on commercial license and
trade license renewal fees.
These generous initiatives by the leadership of the UAE will ensure that the general business
the atmosphere does not affect and ensure the financial and economical safety of the citizens and residents
while ensuring that the continued growth and development is maintained thru facilitation and ease of
establishing new business.