The amount of money that businesses are charged to register as a company and other procedures will not be raised for the next three years, the Crown Prince of Dubai said on Sunday.
Sheikh Hamdan bin Mohammed announced the move under directives from Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Ruler of Dubai.
"Following the directives of Sheikh Mohammed bin Rashid we have issued an order to freeze Dubai Government public services fees for the next three years," Sheikh Hamdan wrote on Twitter.
"The move, which aims to support the social stability of citizens, will have a positive ripple effect on all segments of society.
"The directives will also boost Dubai's economic competitiveness and reinforce the government's continuous efforts to ensure social and economic security."
In line with the directives of Vice President and Prime Minister of the #UAE and Ruler of #Dubai @HHShkMohd, Crown Prince of Dubai and Chairman of the Executive Council @HamdanMohammed issues an order to freeze Dubai Government fees for a period of three years.
— Dubai Media Office (@DXBMediaOffice) March 4, 2018
The move will come as relief to many businesses that have hired specialists and brought in new systems to manage the implementation of VAT from January 1.
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