Shaikh Mohammad cuts public services prices in Dubai

His Highness Shaikh Mohammad Bin Rashid Al Maktoum, vice-President and Prime Minister of UAE and Ruler of Dubai issued the law No 14 of 2009, thanks to which prices for public services will be cut up to 30%.

Under this law, government bodies have to adopt schedule of fees prepared by Dubai Department of Finance; the Dubai government is planning to reduce business-licensing fees and freeze other government charges, to give new stimulus to local economy.

In such a way also opening a new company will be cheaper. Range of fees that will be adjusted includes:

• trade and professional licences
• termination of tenancy contracts for ownership
• property ownership certificates
• certificates of conversion and alteration for buildings into hotels, services apartments, commercial buildings.