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Sharjah announces new Dhs512m economic stimulus package

Sharjah announces new Dhs512m economic stimulus package

The package was approved by the Crown Prince of Sharjah, Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, on Tuesday

Sharjah

The Sharjah government approved a new Dhs512m stimulus package on Tuesday, November 3, to counter the economic fallout of the Covid-19 pandemic.

This is its second economic incentive, following a Dhs481m package which was announced earlier this year.

Read: Sheikh Hamdan unveils new Dhs500m stimulus package for Dubai

The new package which was approved by Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince, Deputy Ruler of Sharjah, and Chairman of Sharjah Executive Council, includes incentives to support the government and private entities, businesses and individuals, boost business continuity and mitigate the overall economic impact of Covid-19 outbreak.

Sharjah Electricity, Water and Gas Authority
– Owners of economic, commercial and industrial establishments can make their payments for electricity, water and natural gas services in several instalments which may exceed two years.
– Owners will also receive free technical consultations before starting a project to design and implement electricity, water and gas services extensions.
– Insurance fees will be reduced for all economic, commercial and industrial establishments. Fines for additional electricity loads among them will also be cancelled.

Sharjah Municipality
– The fees for attesting residential lease contracts will be reduced from 4 per cent to 2 per cent until March 31, 2021.
– A continuation of the exemption decision for the renewal of licences for economic establishments, including a fee of three months’ annual fees.
– A 50 per cent deduction from delay fines and inspection violations for economic establishments, provided that their owners amend the conditions within three months from the date of the decision.
– A 50 per cent discount upon issuance of a licence for industrial establishments.
– An exemption of private nurseries from all government fees for a year.

Sharjah Real Estate Registration Department
– A reduction in buyer fees for non-GCC citizens from 4 per cent to 2 per cent of the sale value.

Sharjah Department of Planning and Survey
– Leasing of investment property: Investors are exempted from the rent value until March 31, 2021.
– Motorbike rental activity sites: Investors are exempted from the rent value until March 31, 2021.
– Renting shops: Exemption of tenants by 25 per cent of the rent value until March 31, 2021.
– Rental of temporary sites: Exemption of tenants by 25 per cent of the rent value until March 31, 2021.
– An extension of the payment period for 24 months for the splitting of multi-storey transactions.
– Facilitating the payments to investors and tenants by paying instalments for the returned cheques to the end of the current year.

Private Education Authority
– Private nurseries: Exemption from fees for renewing educational licences for 94 nurseries for a year.
– Private schools: Exemption from fees for renewing educational licences for 115 schools for an academic year.
– Training centres: Exemption from educational licence renewal fees for 65 training centres for a year.

Sharjah Seaports, Customs and Free Zones Authority
– Exemption of all merchant and wooden ships from berthing and loading fees in both the Sharjah Creek and Khor Hamriyah Free Zone.
– Reducing fees due on port operations by 20 per cent on handling, loading and unloading fees, associated fees, and marine charges.
– Exemption of all bulk cargo from storage fees for a period of 90 days.
– Reducing the tariff of truck stops in Sharjah ports by 50 per cent within designated areas.
– Exempting all shipping and customs clearance companies from the bank guarantees required to carry out their activities.
– Exemption of all commercial companies from inspection fees.
– Exempting companies operating in the free zones from fines for delaying the renewal of licences.
– Exemption from visa fines in free zones.
– A 50 per cent discount on the corporate share transfer fee.
– A discount from 20-50 per cent on new licences, depending on the commercial activity.

Sharjah Entrepreneurship Foundation (Ruwad)
– Postponing the payment of instalments for projects financed by the foundation of three months instalments.
– Roads and Transport Authority: A 50 per cent discount on RTA violations from January  1, 2020 until the end of the year for violations issued before November 1, 2020.
– A 25 per cent discount on rental fees for taxi plate numbers, starting from July 1, 2020, until the end of the year.
– An exemption of limousine companies (Sharjah Transport Solutions LLC, Bee’ah, Limousine Company) from trip fees for 2020.
– An exemption of taxi vehicles and the operator of the public transport network from fees for quality control services for taxis and operator of transportation networks as of July 1, 2020, until the end of the year:

Operating fees at Sharjah Airport
– Rental fees for the bus stop to the operator of the public transport network and charges of concession fees.
– Canceling RTA violations before 2015.

Department of Civil Aviation
– Reducing licencing fees for travel companies, agencies and tourism companies by 50 per cent until 2021.

Sharjah Chamber of Commerce and Industry
– A 50 per cent discount for affiliated members from the previous fees until the end of 2018
– An exemption of companies from participation fees in the Sharjah Excellence Award.

Sharjah Book Authority, Sharjah Publishing City
Discounts of up to 35 per cent according to specific requirements and criteria that include reducing the prices of comprehensive packages for new customers, reducing fees for independent licences and reducing rental fees.
– Offer to rescheduling payments and exempting rental fees for existing customers
– Reducing the comprehensive licencing packages for newly registered companies in the Business Centre.
– Discounts on independent licences.

Sharjah Media City (Shams)
– Providing licencing or renewal discounts of up to 30 per cent
– Offering a long-term (3-year) fee reductions for commercial licences.
– Offering competitive packages for specific categories such as the women entrepreneur package, the entrepreneur package, and the media companies in order to attract business and stimulate their growth.

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