KHALEEJ TIMES, Thursday, May 17, 2018 | Ramadan 1, 1439
UAE companies with expired trade licence get grace period
Ammar bin Humaid Al
Nuaimi, Crown Prince of Ajman and Chairman of the Executive Council, issued
Decree No. 16 of 2018 extending the deadline for renewal of expired trade
licences for all companies in Ajman.
This is in line with an initiative launched by His
Highness Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of
Ajman, on behalf of the Year of Zayed and in celebration of the holy month of
Ramadan. Contract registration and attestation fees have also been reduced as
per the initiative.
The decree spans economic establishments in Ajman
whose trade licence expired at the end of last year, December 31, 2107. All
traders must avail of this grace period which will continue till the end of this
year, December 31, 2018, to renew their licence.
Another Decree No. (18) for the year 2018, reduces
registration fees and the ratification of the lease contracts for economic
establishments and warehouses to 5 per cent of the value of the lease in effect
from May 17.
Sheikh Ammar Bin Humaid affirmed that this
decision reduces the financial burden on the owners and encouraging greater
economic activity in the emirate.
The decree comes in a series of initiatives by the
Ruler of Ajman helping to create a more attractive, positive economic climate