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Mohammed's DMC decree
DUBAI - Dubai Crown Prince and UAE Defence Minister General Shaikh Mohammed bin Rashid Al Maktoum, who is also the chairman of the Dubai Investment and Development Authority (DIDA), has approved a decree on the executive instruments on the Dubai Medical City (DMC).
The decree defined the DMC's objectives, including making Dubai an international medical and health centre. The decree stated works and activities that would be licensed by the DMC, including the provision of all forms of medical, curative and preventive healthcare services, as well as hospital and clinical services, and transplant centres. It will also house medicine and medical equipment producing firms, rehabilitation centres, food centres and medical and health clubs, as well as establishments dealing in all forms of medical related services.
Establishments operating in the DMC, according to the decree, have been exempted for 50 years from paying any tax, including income tax. They have also been exempted from any form of restriction on capital or profit transfer outside the UAE. The fifty years exemption period is renewable by a decree from the DIDA chairman.
The decree gave the DMC administration the authority to accept or reject the setting up, registration and approval of any establishment in the city. The administration shall stipulate the payable registration fees, set up bye-laws, rules and regulations governing the city and shall put in place system that will keep the establishments under control.
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