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KHALEEJ TIMES, Thursday, May 17, 2018 | Ramadan 1, 1439

UAE companies with expired trade licence get grace period

Emirates: 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 for investors.

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