Pursuant to Cabinet Decision no. 51 of 2019, the United Arab Emirates announced a revision in the official fees for all services offered by the Ministry of Economy, including those related to intellectual property matters.
The revised fees for intellectual property matters affect trademark registration and renewal fees, which have been reduced by 27 percent of the previous rates. The new fees entered into force on July 7, 2019.
This update follows the UAE’s recent decision to amend the fees for more than 1,500 government services in an effort to decrease the cost of doing business and bolster the competitiveness of the country. According to the aforementioned decision, the changes will be applicable to the services of three main ministries: the Ministry of Interior, Ministry of Economy, and Ministry of Human Resources and Emiratisation.
These recent developments are part of the UAE’s efforts to move from service-based revenues to a taxed-based system following the introduction of VAT in January 2018. This will undoubtedly further enhance the business environment, empower entrepreneurs, and encourage the creation of new investment opportunities.
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