The range of discounts applicable to various types of licences to the DMCC’s existing 17,500 member companies include 25 per cent discount on three-year renewal; 20 per cent discount on two-year renewal; 10 per cent discount on one-year renewal; 10 per cent discount on all expired in 2020 renewal; 100 per cent waiver of late renewal penalties; 100 per cent waiver of the office sharing permit fee; and 100 per cent waiver on change of address fee for relocating from a physical office to the DMCC Business Centre.
Other concessions include a 50 per cent waiver of the company reinstatement fee, applicable if the licence was terminated by the authority due to non-licence renewal; 50 per cent waiver of dormancy fees; 30 per cent discount on additional licence; and two-month suspension of rent for Flexi Desk and DMCC Business Centre tenants’ renewals or monthly/quarterly installment with no discount.
Ahmad Hamza, executive director for free zone at the DMCC, said the entire business community has been the entity’s top priority, and will remain so as businesses enter this new phase of recovery.
“By extending our Business Support Package, we enhance the ease of doing business, which in turn ensures that Dubai and DMCC continue to be the destination of choice for businesses, entrepreneurs and people alike.”
In addition, the DMCC has partnered with Emirates NBD to offer new and existing member companies the opportunity to convert payments into flexible and interest-free installments. The commodities free zone also introduced a 50 per cent reduction in business setup fees for all diamond-related companies alongside a free 12-month membership of the Dubai Diamond Exchange valid until September 30.
The discounts for diamond-related firms comes in the wake of two major tie-ups the DMCC has announced. These include a collaboration agreement with China’s Guangzhou Diamond Exchange to establish a strategic partnership and with the Israel Diamond Exchange (IDE) based in Tel Aviv.