DED announces Decree No 20 of 2018 exempting companies from late license renewal fines

DED announces Decree No 20 of 2018 exempting companies from late license renewal fines

The Dubai Department of Economic Development (DED) has announced the government’s decision to exempt companies operating in Dubai from late license renewal fines before the grace period until the end of 2018, according to the Decree No 20 of 2018, issued by HH Sheikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. This decree is a positive step in promoting economic growth in Dubai and helps to remove concerns among investors and entrepreneurs looking to expand their business.

The Decree is intended to facilitate license renewals by providing a grace period for companies and reflects the vision of Dubai’s leadership to further strengthen the economy and create a competitive environment conducive to investments in Dubai. DED urges all business owners to benefit from the decree, which will add to the financial benefits of the owners of expired business licenses, restore legal records and licenses, and help the business community in Dubai enhance their competitiveness.