The ruler of the UAE emirate of Ajman has issued two decrees to exempt companies from some penalties and reduce fees.
Companies with licences that expired before January 2018 will be able to benefit from the measure from May 17 to December 31.
The gesture by Sheikh Humaid bin Rashid Al Nuaimi was to celebrate the Year of Zayed and the holy month of Ramadan, according to state news agency WAM.
He also issued another decree reducing the registration fees and ratification of lease contracts for companies and warehouses to 5 per cent of the value of the lease form the start of Ramadan.
Ajman Crown Prince Sheikh Ammar bin Humaid Al Nuaimi said the measure was intended to reduce the financial burden on the owners of companies in the emirate and to encourage investment.
“He explained that this award is a series of initiatives of His Highness the Ruler of Ajman, which contributes to attracting investments to the Emirate of Ajman and providing an investment climate for the economic establishments operating in the Emirate and to carry out its activities in a positive,” according to WAM.
The UAE’s moon sighting committee said on Tuesday that the country would mark the beginning of Ramadan on Thursday, May 17.
Both public and private sector staff will work shorter days for the duration of Ramadan as many employees are fasting.
The UAE’s Ministry of Human Resources and Emiratisation said on Tuesday that private sector establishments, institutions and companies would have to reduce normal work by two hours for the holy month.
The Federal Authority for Government Human Resources announced public sector working hours will be 9:00am to 2:00pm.
Schools hours will also be shorter and there are restrictions on eating and drinking in public and some workplaces during the daytime.
Times for public transport, parking and other services will vary.