The cost of doing business in the UAE will go down significantly with the introduction of a new amended fee and fine structure for 110 services.
The Ministry of Economy has cut the government services’ fees it provides to customers and businesses.
According to the new fee structure, fees of 102 services will be scrapped, and fees of eight services will be reduced by up to 50 percent.
Sultan bin Saeed Al Mansouri, Minister of Economy, said “the ministry's keen desire to create a business-friendly environment where private sector companies can grow and flourish.”
“The amended fees constitute 47 percent of the total fees levied by the ministry”, added Sultan bin Saeed Al Mansouri.
According to the updated fee structures, the fee of a dispute between agents, appointed representatives and collectors from a trade agent has been slashed from Dhs 12,000 to Dhs 8,040.
For the registration and renewal of a trademark or trademarks for a group of goods, products or services have been cut to Dhs 6,700 from Dhs 10,000.
The fee of auditors’ three-year registration for branches of national companies has been reduced to Dhs 10,050 from Dhs 15,000.
The fee of publishing official announcements by foreign private joint stock companies has been cut to Dhs 10,000 from Dhs 20,000 while the fee of sale, merger and acquisition of foreign companies has been cut from Dhs 15,000 to Dhs 10,050.