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28 May, 2020

Dubai Silicon Oasis Authority Announces Fee Waiver

The Dubai Silicon Oasis Authority (DSOA) recently announced a waiver in the license and registration fees for new clients.


The measures come as a consequence of the global Covid-19 pandemic, due to which the license issuing authority of DSOA came up with the exemption packages and incentives to the business community. The CEO of DSOA Mr. Mohammed Al Zarooni confirmed that these measures were similar to previously implemented packages, and were in fact extensions of the same. The packages were well received by the stakeholders, leading to the continuation of benefits, he added.


Currently, the license fees are priced at AED 12,000 while the registration fees are at AED 6,900 under the DSOA. Waiver of both the fees would lead to a net savings benefit of almost AED 19,000 for an entrepreneur. The waiver is expected to last until June 2020, encouraging new businesses to establish themselves even during tough times in order to maximize benefits.


The move is preceded by DSOA decision to waive all late payment fines for retailers until August 31, 2020. Marketing fees have been reduced by 25% and deferred by upto 3 months, all of which were measures aimed at encouraging business sustenance and continuity for economic activity.


Source: khaleejtimes

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