DIFC announces elimination and reduction to fees imposed by the Registrar of CompaniesPress Release 29 Sep 2010 11:17 am
The Dubai International Financial Centre (DIFC), the financial and business gateway between the Middle East, Africa and South Asia region (MEASA) and the world, today announced a series of changes to its Registrar of Companies (ROC) fees.
The changes made by the DIFC Authority which came into effect on September 5 2010, included amendments to the Companies Regulations (COR) fees covering retail and non-retail companies. In addition there were also amendments to DIFC Limited Liability Partnership Regulations, General Partnership Regulations and Limited Partnership Regulations and Special Purpose Company Regulations. The changes include the elimination of fees in 61 categories, a reduction of fees in 10 categories and a slight increase in fees in 12 categories. Fees in 46 categories were maintained at the same levels.
Abdulla Al Awar, CEO of the DIFC Authority said:
“This review process is part of our wider initiative to reduce the cost of doing business in the DIFC. We are committed to working closely with our clients in order to help them achieve their business goals. These proposals are designed to help our clients grow their businesses by making the DIFC a more competitive business hub.”
The changes followed a review conducted in the first quarter of 2010 in relation to the fees imposed by the Centre’s ROC. The review’s aim is to make the DIFC a more attractive and cost effective centre for companies establishing and maintaining a presence in the region.