The Dubai World Trade Centre (DWTC) has announced up to 70 percent reduction on licencing and incorporation fees within the DWTC Authority, a Free Zone (FZ) offering offshore licences for businesses, and ‘One Central’, to spur business and benefit multi-sector growth.
According to DWTC, the programme will provide competitive offerings with the objectives of supporting the growth of inward FDI and accelerating the private sector’s contribution to Dubai’s GDP, in line with government directives designed to reduce the cost of doing business and cement Dubai’s position as a global investment destination.
DWTCA’s revised fees will see decreases of between 50 and 70 percent on registration and licensing fees, with a 40 to 50 percent reduction on immigration related service fees, depending on the scale of the business operation.
The UAE is currently ranked 17 out of 137 countries and continues to lead the Arab world in terms of competitiveness, rising seven places from its 24th place ranking in 2012-13, and consistently scores high across the pillars of institutions, infrastructure, goods market efficiency, labour market efficiency and business sophistication.
Source Credit: Arabian Business