Dubai Silicon Oasis Authority Announces Relief Packages for Startup
The regulatory authority has put in place several incentives to support entrepreneurs and startups during the Coronavirus crisis.
The Dubai Silicon Oasis Authority (DSOA), the sprawling freezone and integrated tech park, has announced this week that it will be waiving nearly $5,000 in startup fees for new businesses (totalling about AED 19,000).
The DSOA announced in a blogpost on their website new incentive packages, including perks such as new clients being exempt from paying the AED 12,000 license fees and AED 6,900 registration packages for the first year until the end of June 2020.
The new registration package includes a one-time registration fee, shareholder resolution fee, specimen signature fee, trade name reservation fee, memorandum of articles and association.
“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,” said Dr Mohammed Al Zarooni, Vice Chairman and CEO of DSOA.
