Combating coronavirus: UAE reduces fees of 94 services

The UAE yesterday announced the slashing of fees across 94 types of services provided to individuals, companies and the business sector as part of efforts to mitigate the impact of Covid-19 pandemic.
The Ministry of Economy announced a new list of service fees in accordance with UAE Cabinet Resolution No. 20 of 2020 regarding services fees provided by the ministry.
The reduction covers a wide range of services, particularly those related to innovation, business activities, investment, production, trade, import and export activities, the ministry said.
"The most prominent of these services include commercial registration services, commercial agencies, trademarks, origin, auditors and intellectual properties."
According to the ministry, the reduction rates applied to these services reach up to 98 per cent. The financial impact on the business sector as a result of this reduction is estimated to be valued at Dh113 million in 2020.
Sultan bin Saeed Al Mansouri, UAE Minister of Economy, said the reduction in fees for these select services, with large percentages of up to 98 per cent in some services, "is a distinct and important step being made to support the business and companies sector in the UAE during the current circumstances and represents a prominent addition to the matrix of measures taken by the UAE Government and local governments to face the repercussions of the spread of the coronavirus on the business environment in the country," said Al Mansouri.
The UAE has been taking a spate of measures over the past few weeks to offset the severe impact of the pandemic outbreak on various business segments. The Central Bank of the UAE rolled out stimulus packages totalling Dh256 billion capital and liquidity measures, consisting of Dh50 billion in capital buffer relief, Dh50 billion in zero-cost funding support, Dh95 billion in liquidity buffer relief and a Dh61 billion reduction of cash reserve requirements. Apart from this, the UAE Cabinet and governments of various emirates have come out with billions worth of fiscal stimulus as most economies across the globe rolled out massive economic stimulus packages and quantitative easing measures to contain the economic impact.
As part of a host of measures to minimize the Covid-19 impact, the UAE Cabinet recently approved new decisions, including the extension of residence permits expiring on March 1st, 2020, for a renewable period of three months without any additional fees upon renewal. The decision is aimed to spare the residents related obligations during the current trying times. The Cabinet has also waived for three months effective April 1st the administrative fines associated with infractions relating to the services provided by the Federal Authority of Identity and Citizenship and approved by the Cabinet.
It's also agreed to provide a temporary license for a scheme on digital transaction management solutions for Notary Public's services in order to facilitate judicial transactions under the current circumstances and to ensure safety of litigants and all those dealing with judicial departments.
The Cabinet additionally approved the extension of government services expiring on March 1st onwards for a renewable period of three months, starting April 1st. The decision applies to all federal government services, including documents, permits, licenses and commercial registers and their likes.
Al Mansouri said reducing fees for services provided by the Ministry of Economy to individuals and companies "will reduce the cost of establishing and conducting business in the country and will reduce the burden on commercial and investment institutions, which is to support the main and affected sectors stimulating the economic environment and ensuring the sustainability of the pioneering structure of the national economy and business continuity."
  The services where fees have been reduced are as follows: