UAE Prime Minister

Mohammed issues decree on licence renewal fines

In his capacity as the Ruler of Dubai, UAE Vice President and Prime Minister His Highness Sheikh Mohammed bin Rashid Al Maktoum has issued a decree exempting companies and institutions in the emirate of Dubai, from all fines imposed as a result of their non-renewal of licences during the date schedule specified in the legislation.

Article I of the decree states that the amnesty extends to all entities operating in Dubai, including those based in free zones, with article II stipulating that the exemption is limited to companies and institutions rectifying their licence status before the end of June, 2010.

The move comes as part of Sheikh Mohammed's continuous support for Dubai's business sector, and reflects his eagerness to find effective solutions to promote good business practices.

The decree is effective from its date of issuance and will be published in the official gazette.