RAS AL KHAIMAH 15 March 2021: Ras Al Khaimah Department of Economic Development (RAKDED) has announced that exhibition organisers, wedding halls and event venues will be exempt from 100 percent of their licensing fees, violation charges and late payment penalties for 2021.
The decision is in line with directives from H.H. Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, to support businesses and boost economic activity in the Emirate. H.H. issued the directives with the objective of setting strong foundations that guarantee business continuity, drive economic growth, diversify sources of income, and continue to provide employment opportunities for the Ras Al Khaimah community.
The directives indicate that the exemption remains valid for one year from the date of implementation, allowing the relevant establishments to benefit from the waiver in the event that they need to renew their license as per the expiration dates, said Wam.
The new exemptions follow an earlier set of measures that were approved last year, which waived 50 percent of trade licensing fees, as well as exempting establishments from violations and late fees.
Targeting the exhibitions sector, the stimulus package introduced over the course of the past year included a 50 percent waiver from the Ras Al Khaimah Chamber of Commerce and Industry on outdoor exhibition permits until the end of 2020, as well as a 25 percent exemption for consumer and specialised exhibitions held at the Ras Al Khaimah Exhibition Center until the end of 2020.
Companies operating in this sector are receiving significant support from decision-makers in the Emirate, who aim to ensure quality products and services are provided in an effort to boost RAK’s economic competitiveness and fulfil the requirements of the Ras Al Khaimah community.
These incentives are the latest in a series of stimulus packages introduced by the Emirate of Ras Al Khaimah over the course of the past year, which covered various sectors and benefitted 15,000 companies. These included a 25 percent discount on new residency visas for family members; a 60-day grace period for the extension of trade licenses; exemption of fees for tenants of municipality-owned markets for a period of three months; and reduced fees for issuing health cards, among others.
The incentive packages are in line with the Ras Al Khaimah Government strategy to promote the business sector and focus on its competitive advantages that cater to all types of economic activities, strengthen its position as a leading destination to invest and live in, and promote it as a premier tourism hub.
