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Sun 10 May 2020 06:00 PM

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Dubai Silicon Oasis Authority announces further Covid-19 relief packages

License fees and registration packages for new clients to be waived for one year

Dubai Silicon Oasis Authority announces further Covid-19 relief packages

Last month, DSOA approved a package of incentive measures for start-ups based in Dubai Technology Entrepreneur Campus (Dtec).

Dubai Silicon Oasis Authority (DSOA) will waive license fees (AED12,000) and registration packages (AED6,900) for new clients for the first year under additional incentive packages announced on Sunday.

The new client registration package includes a one-time registration fee, shareholder resolution fee, specimen signature fee, trade name reservation fee, memorandum of articles and association.

Dr Mohammed Al Zarooni, vice chairman and CEO of DSOA, said: “Strategic collaboration with our business partners based in DSO is already well established, and we look forward to strengthening these relationships further in an effort to anticipate future business strategies and needs, and in line with the united efforts to combat challenges that have resulted amidst the Covid-19 pandemic.”

Last month, DSOA approved a package of incentive measures for start-ups based in Dubai Technology Entrepreneur Campus (Dtec) – the largest tech hub and co-working space in the MENA region wholly owned by DSOA – including waiving all late payment and overstay fines until August 31.

Dtec is also providing entrepreneurs the opportunity to benefit from deferred rent payments for up to three months, as well as a five percent discount on their annual rent if paid on time and in one deposit.

In addition, on renewal of their tenancy contracts, flexi desk and fixed desk tenants can enjoy the option of paying their rents in up to six instalments, as well as leveraging their visa security deposits to pay off their financial dues to DSOA.

The authority has previously approved rent waivers for retail sector tenants affected by the closure including restaurants, shops, and gyms in DSOA owned buildings, commencing March 15 and enacted until the government allows retail outlets to reopen. Retail tenants are also exempt from late payment fines until August 31.

Numerous business partners and tenants will also benefit from late payment fee waivers until August 31, while marketing fees are to be reduced by 25 percent and deferred for up to three months. Retail business owners can also choose to pay outstanding fees in instalments and leverage their visa security deposits to pay off their financial dues to DSOA.

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