DMCC has announced that tenants will be given a two-month rental break until 31st August, and that three-year licence renewals will have a 33% discount applied.
DMCC has announced several discount schemes, in a bid to not only support existing business tenants during the COVID-19 pandemic, but also encourage further companies to sign up with one of Dubai’s free zones.
What’s on offer for free zone companies?
If you’ve got a business in one of the state’s free zones, or if you’re thinking of setting up a company in one, you’ll be eligible for the following discount schemes:
- A twomonth rent break for all businesses that have a ‘flexi-desk’ licence
- The same rent break for tenants in DMCC’s Business Centre
- A 33% discount on threeyear licence renewals, which works out as getting one year for free
- 25% off twoyear licence renewals (six months free)
Key benefits for free zone members
The main benefits are:
A complete waiver of the following
- Change of address fee (for moving from physical premises to DMCC Business Centre)
- Late renewal penalties (expired leases and licences)
- Office sharing permit fee
Plus a 50% waiver of these charges
- Licence reinstatement fees (if the business’s licence was ended by the authorities due to failure to renew the licence)
- Dormancy fees
Useful information about DMCC’s rent discount schemes
These schemes offer excellent financial support for established free zone businesses and start-up ventures alike. Here are a few things you should know about them:
- Businesses have the flexibility to pay their licence renewal in instalments, which can be either monthly or quarterly. Please note, if this is the selected option, no discounts will be applied.
- The relief measures were originally introduced in April, and will now run until the end of August.
- New and existing free zone companies have the option to convert their payments into interestfree instalments, thanks to DMCC’s partnership with Emirates NBD.
Setting up a business in Dubai’s free zones
DMCC continues to support free zone companies in the state, even during challenging times (such as the pandemic). As such, businesses continue to thrive here, and setting up a company in a Dubai free zone remains an appealing prospect.
To find out more about establishing a business in the UAE, get in touch with Charterhouse Lombard’s team today.