Abu Dhabi Government Incentives to Ensure the Stability of National Economy & Business Environment

Abu Dhabi government has adopted a set of financial incentives to support the business & corporate community in the emirate, as part of the joint efforts between First Abu Dhabi Bank, Abu Dhabi Islamic Bank and Abu Dhabi Commercial Bank, in cooperation with the Department of Finance and the Department of Economic Development, to provide an immediate support to individuals and small and medium-sized companies in the emirate, by reducing costs related to financing, access to it, and maintaining the flexibility of the local economy.

Banking Reliefs for Individuals

• Postponing the payment of outstanding installments and interest on loans and credit cards for 3 months.
• Providing am ease of payment for water and electricity bills in installments.
• Installment of tuition fees without interest or fees.

Banking Reliefs for Companies

• Allocation of 5 billion AED to support electricity and water.
• The allocation of 3 billion AED to the commercial guarantees program to finance small and medium-sized companies.
• The allocation of one billion AED to establish the "Market Maker Fund" in the Abu Dhabi Stock Exchange.
• Reducing the merchant service fee 50% for small and medium-sized companies with less transactions. From 5 million dirhams.
• Reducing fees and prices by up to 50% for accounts without balance.

Governmental Financial Reliefs

• Postponing collection of troubled debt for locals for a period of 3 months.
• Ceasing the implementation of rental evictions and executive procedures.
• Exemption of fees for renewing licenses, commercial activities and fees for protecting personal data.
• Exemption of fees for issuing and renewing temporary work permits until March 25th of 2021.
• Exemption from annual fees for investment funds for the end of 2020 and the return of fees paid.
• 50% reduction on regulatory fees for companies subject to the authority to regulate financial services.
• Cease rent collection and service fees for tenants.

Dubai Government Incentives to Ensure the Stability of National Economy & Business Environment

The government of Dubai has adopted a set of economic incentives worth 1.5 billion dirhams for a period of 3 months, with the aim of supporting individuals and the business sector in Dubai, and enhancing financial liquidity and combatting the effects of the exceptional current economic situation.

Banking Reliefs for Individual

• Postponing installment payments in cases of leaves with no salary for a period of 3 months with no interests or fees.
• Refunding the fees for canceling travel tickets paid with credit and debit cards.
• Installment of credit card due for school installments and food, set without interest or fees for a period of 6 months.
• 5% increase in financing for the property’s value when purchasing a house for the first time, also refunding application fees.
• Redeeming debit card cash withdrawal fees from ATMs.

Banking Reliefs for Companies

• Reducing the minimum monthly balance required for companies to 10 thousand dirhams.
• Exemption from the minimum balance fees for the business account for a period of 3 months.
• Postponing the installments for a period of 3 months to clients who have access to business financing reliefs.
• Reschedule or downgrade payments to sectors most affected by the crisis.

Additional Governmental Reliefs

• New capital is pumped into Emirates Airlines, to bypass the Coronavirus crisis.
• 10% off the water and electricity bill for a period of 3 months, and a 50% reduction in the insurance amount.
• Launching a package of economic incentives in the free zones, such as postponing the payment of rents, the installment of financial payments, and refunding many amounts of insurance and guarantees.
• Freezing the market fee of 2.5% for establishments for a period of 3 months.
• Refund of 20% of the customs tariff of 5% for imported goods that are sold locally.
• Cancellation of the amount of 50,000 dirhams as a bank guarantee for the practice of customs clearance, and the return of paid bank guarantees.
• Reducing 90% of the fees for submitting customs documents to companies.
• Exemption of traditional commercial boats registered in the country from fees for mooring and loading services at the port of Dubai and the port of Hamriyah.
• Cancellation of the 25% down payment requirement for requesting installment of government licenses fees.
• Renewal of commercial licenses without mandatory renewal of lease contracts.
• Exemption from licensing fees for new discounts and commercial offers.
• Reducing the municipality fee by 50% on hotel sales.
• Exempting companies from postponing and cancellation fees for tourism and sports activities during the year 2020 and freezing classification fees on hotels.
• Freezing tickets fees, issuing permits, fees for entertainment and business events.
• Freezing the implementation of rental evictions and executive procedures.

Sharjah Government Incentives Ensure the Stability of National Economy & Business Environment

The Sharjah government has adopted a number of incentives to support individuals and business sectors, which stem from the emirate’s keenness to enhance the continuity of development in various fields, and to mitigate the economic and social impacts that the world is witnessing during this period.

Advantages Granted for the Tourism Sector

• Exempting hotel establishments from the municipal fees of 5% for a period of 3 months.
• Exemptions and discounts for the fees of the various exhibitions during the year 2020.
• 50% discount for shops and malls participating in the marketing campaigns for 2020.
• Reducing the rent by 50% for a period of 3 months inside the airport for each of the restaurants, exchange shops, and stores.
• Commercial, banks, travel agencies, telecom companies, tourism promotion and car rental.

Ease of Payment

• Reduction of truck parking tariffs at Sharjah Ports by 50%.
• Reducing port operations fees by 20% and marine fees.
• Postponing the installments of some projects financed by banks for 3 months.
• 50% discount on corporate stock conversion fees.
• Postponing the payment of installments of projects funded by the Sharjah Foundation to support youth projects (Rowad) for a period of 3 months.
• Release some 100 prisoners held in rental cases and give them 3 months to pay.

Exemption of Fees

• Exempting the investors dealing with the Department of Town Planning and Survey from paying the contractual due for a period of 3 months.
• Exempting economic establishments from licensing renewal fees for a period of 3 months during 2020.
• Exempting the shipping and customs clearance companies from bank guarantees.
• Exempting commercial companies from inspection fees, new license fees, and renewal of municipal permits for 3 months.
• Exempting companies operating in the free zones from visa fees and fines for delaying renewal of licenses.
• Commercial and wooden boats are exempt from mooring and loading fees in Sharjah Creek, Hamriyah and Khorfakkan Free Zone.
• Exemption of all bulk cargo from storage fees for a period of 90 days.
• Exemption from fees for Sharjah Police General Headquarters certificates for 3 months.
• Exemption from the municipality’s approval to renew the licenses of contractors and consultants for a period of 3 months.
• Exemption from fees for household sewage treatment services for a period of 3 months, and a 10% discount on the electricity bill.

Ajman Government Incentives Ensure the Stability of National Economy & Business Environment

Ajman government adopted the direct activation of the economic support decisions taken by the federal government in the UAE, and initiated a package of initiatives to reduce the burden on individuals and the business sector in the emirate, which focused on the full exemption of fees for some government services, and the reduction of others

Economic Incentives

• Forming a committee from the concerned departments to study and coordinate a number of initiatives of a medium and long-term nature for economic stimulus.
• Exemption of 30% of cleaning fees for till the of 2020.
• Exemption of 20% of the rental fee certification fees for a period of 3 months, extendable.
• 100% exemption from permits for practicing economic activity 24 hours for selected activities.
• 100% exemption for hotel classification fees till the end of 2020.
• 100% exemption from fees for postponing or canceling activities until the end of 2020.
• 50% exemption from permits for discounts and commercial offers for a period of 3 months, which can be extended.
• Exempting tourist establishments from licensing year fees and suspending parking fees for a month, which can be extended.

Decisions to Support the Real Estate Sector

• Stop countering administrative fines for:
  • Violations of renewal of registration of real estate activities.
  • Violations of real estate broker card renewal.
  • Violations of the renewal of the owners' activity.
  • Violations of a real estate developer registration renewal.
  • Violations of renewal of registration of the real estate project.
  • Violations of renewal of registration of the real estate project
  • Violations of the extension of the real estate project
• Extending the renewal period for each of the specialized engineering consultant, account keeper and financial auditor.
• Granting no objection regarding changing both the contractor and the real estate project consultant.
• Extension of the period of advertising permits.

Initiatives to Support the Foreign trade and the Customs Sector

• The possibility of paying custom duties in easy payments within 90 days.
• Decreasing container insurance fees by 50% for each container until the end of June 2020.
• Extending the period of delivery of the original shipping documents from 2 to 4 months, (renewable).
• Extending the free period for storing containers from 10 days to 20 days.
• Cancelling the collection of insurance fees for the delivery of original shipping documents for a period of 2 months (renewable).

Decisions to Support the Tourism Sector

• Exempting hotel and tourist establishments from registration fees until the end of the current year 2020.
• Stop issuing delay fines for all hotel and tourist establishments.
• Postponing the payment of the due fines until the end of the current year for all hotel and tourist establishments.

Administrative Resolutions

• The government shall ensure that the necessary periodic ( COVID-19 ) checks are carried out for employees whose work requires fieldwork & physical contact.
• Establish a committee of stakeholders to rearrange the priorities spending of the budget and government projects under the current circumstances.

Decisions to Support Economic Establishments

• Postponing the payment of the fines due until the end of the current year for all establishments.
• Stop issuing delay fines for all establishments.

Ras Al Khaima Government Incentives Ensure the Stability of National Economy & Business Environment

Ras Al Khaimah’s government has adopted the stimulus package announced by the federal government in addition to a set of direct incentives, such as exemptions from rents for a period of three months, and the postponement of government fees for individuals and companies. In addition to other incentives through by Ras Al Khaimah economic areas, amounting to 50 million dirhams targeted to operating companies under its umbrella counting for more than 15 thousand companies, and a number of other initiatives from the Ras Al Khaimah Tourism Development Authority, to ensure the continuity of the businesses of these companies and reduce the burden on them in light of the current exceptional global conditions.

RAK Incentives For Industrial Companies

• 50% off the cost of the license, with flexible options for paying in installments.
• Exemption from the insurance payment for new residence visa applications.
• 25% discount on new visas for family members.
• Exemption from fines for delay in renewal, and exemption from fees for postponing checks.
• 25% discount on new workers housing permits.
• Exemption from entry fees to establishments affiliated to the Ras Al Khaimah Economic Zones (Rakz).

RAK Tourism Initiatives

• Establishing a motivation committee & steering committee with the membership of a number of senior executives in the hospitality, entertainment and development sectors.
• Exemption from tourist licenses fees for six months
• Exemption from "tourism dirham" fees from March to May.
• Exemption from tourist license fees for the second and third quarters, and from tourism licensing fines until the end of September.
• Allowing companies to participate in a group of exhibitions and promotional tours that will be launched in 2020 and 2021 without any fees.

RAK Incentives for SMEs

• 15% discount on the total renewal package for SMEs operating in joint and private offices.
• Flexible payment options.
• Exemption from the insurance fees for new residence visa applications and a 25% discount on new visas for family members.
• Exemption from check postponement fees, exemption from discount package fees, and exemption from activity change fees.

Real Estate Initiatives

• Major real estate companies in the emirate have taken initiatives to support the community by exempting tenants for shops, offices, shopping centers and investors, as well as in the projects of Mina Al Arab and Julphar Towers, and many other payment of rent for a period of three months.

Um Al Quwain & Fujairah Government Incentives Ensure the Stability of National Economy & Business Environment

The governments of Umm Al Quwain and Fujairah adopted the packages that the federal government launched regarding the Coronavirus Crisis (COVID-19), in addition to launching several local initiatives.

Economic Incentives

• Exempting establishments affected by the Coronavirus pandemic from fees due for the local government, such as fees for renewing licenses, fees for renewing or certifying lease contracts, and other fees and fines.
• Reducing many other government fees for periods ranging from 3 months to the end of 2020.
• Reducing traffic fines and exemptions from rents for the mall tenants for a period of 3 months.

Exceptional Initiatives Programs & Funds from Government Agencies & Community Institutions

In order to enhance the state’s efforts to reduce the health, humanitarian, economic and social repercussions of the Corona pandemic, and to embody the implications of community cohesion that pervades the UAE community, many programs and funds have been launched from government agencies and community institutions in order to unify national efforts to address the crisis. The response of the Emirati society in all its spectra was exceptional, as they contributed hundreds of millions in support of the state and society in addressing the urgent challenges to face the repercussions of the crisis.