Are You A Company Owner In Dubai? Have You Heard About The New Initiatives Introduced By The Department Of Economic Development (DED) In 2019?
Do You Dream To Own A Business And Set Up Your Own Company Or Already Have A Company Registered With DED?
Are You Facing Obstacles In Your Business And Struggling To Pay The Office Rent But Still Wish To Continue Your Business And Renew Your Trade Licence?
Are Your Debts Escalating And Do You Wish To Close Your Company And Liquidate It Or Announce Bankruptcy Of The Company?
Do You Wish You Had Solutions To All Such Business Problems And Obstacles?
If yes, then DED initiatives introduced in the first half of 2019 will definitely aid you in your business decisions. The initiatives include (1) Frequent updation of the type and kind of available activities as per the requirements of the Global Market and to match the International Standards. (2) Estidama initiative which allows renewal of trade licence for the owners of the Company who are struggling to pay their Office Rent. (3) Other initiatives to attract Business and encourage investments in the Emirate of Dubai. When starting a Business, one of the major decisions to be taken is the Activities that the Company should engage in. Usually, we have a combination of activities in mind for our Company but it is very hard to combine them during the licensing process with the Concerned Authority due to the non-availability of the activities or not getting clear information or when assistance is not available. A Company can only engage in those activities which are mentioned in the Trade License. The hassles of violation of this basic rule can be very time consuming and detrimental to the overall working of the Business.
Under the Law No. 13 of 2011 concerning the Economic Activities Practice in the Emirate of Dubai, a Company shall not violate the law by practicing any activity without license. A fine of not less than AED 5,000 shall be imposed in case of practicing any activity without license. In case of repeating the violation, the fine will be doubled. DED is also entitled (the authorized employee at DED has the discretion, i.e. if he thinks it is required) to (1) Close the company not more than six months (2) Seizure of goods (3) Cancel the trade license.
14 NEW ACTIVITIES RELATING TO AGRICULTURE AND AQUACULTURE
DED has always provided variety in the Business Activities available with them which makes them one of the attractive hubs for Company Set Up. Recently, DED in cooperation with the UAE Ministry of Food Security has added 14 New Business activities relating to Agriculture and Aquaculture increasing the total number of Activities available up to 2,200. If you are interested in setting up a Company related to the above Activities or any other activities under DED, then we are just a call or a click away.
AUTOMATIC AND DISCOUNTED SETTLEMENT OF FINES
Traders licensed under DED can avail the benefits of automatic settlement facility. This initiative has been implemented by the Commercial Compliance & Consumer Protection (CCCP) sector in the DED for traders eligible for 50 % reduction on fines for the first violation in 2019.
Trader will be notified of the 50 % reduction through text message on entering the commercial fine in the system and no separate application for settlement will be needed as per the new system.
To avail these facilities and be updated about these initiatives, or to get a consultation regarding a new business or company set up, or for solving such obstacles that you are facing in your business, meet with us and pass on the burden of the application, follow up, approval and finalization of the licensing process to us and we will get you your Company Set up in Dubai.
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