DWTC slashes licensing, incorporation fees by 70%

The Dubai World Trade Centre (DWTC) has announced reductions of up to 70% on licensing and incorporation fees within the DWTC Authority and One World Central.

The DWTC’s programme will provide highly competitive offerings with the twin objectives of supporting the inward flow of greater FDI and accelerating private-sector contribution to Dubai’s GDP in line with government directives to reduce the cost of doing business in Dubai, said a report in WAM.

“The significant reductions in licensing and incorporation fees further support The Executive Council of Dubai’s recently announced wide-ranging policy measures, and will collectively increase the competitiveness of, and the ease of doing business within the DWTCA free zone,” the report said citing Helal Saeed Almarri, director-general of the DWTCA and Dubai Tourism and Commerce Marketing.

The DWTCA’s revised fees will witness a decrease of 50 to 70 per cent in FZ registration and licensing fees, with a 40 to 50 per cent reduction in immigration-related service fees depending on the scale of business operation, the report said.