Umm Al Quwain Ruler Eases Fine Policy for Businesses | Coming Soon in UAE

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Umm Al Quwain Ruler Eases Fine Policy for Businesses

Umm Al Quwain Ruler Eases Fine Policy for Businesses - Coming Soon in UAE
21 June 2020

To support small and medium businesses, UAQ government issues decree on economic incentives and discounts.

Recently, His Highness Sheikh Saud bin Rashid Al Mu’alla, Supreme Council Member and Ruler of Umm Al Quwain has issued Emiri Decree No. 02 for 2020 on an economic incentive package to support businesses and individuals, who suffered from effects of the global pandemic.

The decree will allow SMEs to receive a discount of 50 percent on fees related to new business licenses at the Department of Economic Development. Also, SMEs can expect cancellation of fines for expired licenses of commercial, industrial and professional companies, as well as a 50 percent discount on fees on activities related to the Umm Al Quwain Chamber of Commerce and Industry.

According to the Emiri Decree No. 02 for 2020, the Department of Economic Development in Umm Al Qaiwain will supervise the economic processes and will issue a plan on the incentives for the Executive Council that will take action on implementing appropriate incentives to improve economic situation in the region.

The main purpose of this decree is to provide a brief oversight of the measures introduced by UAE Government, both on a federal and emirate level, to help support businesses in light of the COVID-19 pandemic. The decree will come in force from the date of its issuance and will be published in the official media channels.

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