Mohammed decree on defaulted firms

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, in his capacity as Ruler of Dubai, has issued Decree No (10) of 2015 pardoning and reducing fines imposed on businesses in the emirate of Dubai.
 
The Decree aims to encourage businesses to rectify their status by cancelling or renewing their licenses, update their information in the records of Dubai’s Department of Economic Development and provide accurate information about the numbers of active businesses in the emirate of Dubai.
 
The Decree pardons the businesses that their license expires before 2012 from the imposed fines if they apply for license cancellation, and such fines are pro rata reduced according to the table addendum to the Decree if the license cancellation request is submitted within six months starting from the date of activation of this Decree. Director General of Dubai’s Department of Economic Development may extend this grace period for another month only. This Decree is to be published in the Official Gazette, and considered valid from the date of publication.
 

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