DUBAI FDI ECOSYSTEM

Stimulating the Business Environment to Address COVID-19 Virus Effects

Stimulating the Business Environment to Address COVID-19 Virus Effects

UAE Ministry of Economy is now offering updates about COVID-19, best practices for doing businesses in times of crises COVID-19, insights about UAE’s investment environment, incentives granted for businesses in the UAE, information about FDI law, Coronavirus Reports & Summaries Regarding Investments, and a direct communication with MOE’s Investment Department

06 Jan 2021

Dubai raises total value of economic incentives to AED7.1 billion with a new economic stimulus package

Dubai raises total value of economic incentives to AED7.1 billion with a new economic stimulus package

The AED315 million package extends the validity of some of the initiatives announced in the previous stimulus packages for another six months, starting from January 2021 until June 2021

12 Dec 2020

UAE Implements 46% of the first phase of flexible package to support economic recovery

UAE Implements 46% of the first phase of flexible package to support economic recovery

Major initiatives have been implemented to date, including amendments to the bankruptcy law, allocation of grants and incentives to tourism establishments, promotion of foreign direct investment (FDI) through amendments to the commercial companies’ law and a lot more

Source: WAM

Category: COVID-19 FDI Incentives

25 Nov 2020

80% off Customs fines to ease burden on businesses amid pandemic

80% off Customs fines to ease burden on businesses amid pandemic

Dubai Customs launched this initiative as part of the economic stimulus package announced by the Government of Dubai to mitigate the impact of COVID-19 on businesses and help them navigate the challenges

16 Nov 2020

Central Bank of UAE extends Dh50b support to COVID-19 affected individuals and businesses until 2021

Central Bank of UAE extends Dh50b support to COVID-19 affected individuals and businesses until 2021

The support package was announced in March 2020 to support the UAE’s economy during the COVID-19 pandemic, through a range of integrated relief measures to the banking sector related to funding, liquidity, lending and capital

Source: WAM

Category: COVID-19 FDI Incentives

04 Nov 2020

Investors can now request Tax Residency and Commercial Activities Certificates via FTA’s e-Services portal

Investors can now request Tax Residency and Commercial Activities Certificates via FTA’s e-Services portal

Both Tax Residency and Commercial Activities Certificates allow investors in the UAE, including companies and individuals, to benefit from double taxation avoidance agreements to which the State is a party, to prevent duplication, and to recover VAT imposed on Emirati businesses in various countries in the event they were registered with the Authority

Source: WAM

Category: FDI Incentives

26 Oct 2020

DMCC offers international companies more incentives to set up in Dubai

DMCC offers international companies more incentives to set up in Dubai

The offer includes a free 6-month trial period allowing businesses to test the Dubai market with no initial investment

Source: DMCC

Category: FDI Incentives Dubai Advantage

24 Oct 2020

Dubai continues to support businesses with a new AED500 million economic stimulus package

Dubai continues to support businesses with a new AED500 million economic stimulus package

The new package that aims to support businesses overcome the current exceptional circumstances will bring the total value of stimulus packages introduced by Dubai Government in 2020 to AED6.8 billion

19 Oct 2020

UAE launches a global initiative to support technology-based startups in the UAE and Italy

UAE launches a global initiative to support technology-based startups in the UAE and Italy

The Ministry of Economy, in cooperation with Microsoft, the Intesa Sanpaolo Innovation Centre and the Italian Cariplo Factory, aims to enable startups to present their innovations before leading global companies in this field, to identify the most capable and advanced innovations that can support the transition towards a circular economy

Source: WAM

Category: FDI Incentives

18 Oct 2020

UAE to provide immediate support for business sectors and enable a rapid economic recovery

UAE to provide immediate support for business sectors and enable a rapid economic recovery

The UAE Cabinet, headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved the launch of the plan’s 33 initiatives to support economic sectors on August 3, 2020.

Source: WAM

Category: COVID-19 FDI Incentives

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