Ras Al Khaimah Economic Zone (RAKEZ) offered a three-month exemption from renewing commercial licences, flexible options for payment of fees, 50 per cent discount on the cost of licences and full exemption from paying for insurance on new residence visa applications.
Ras Al Khaimah Government launched an integrated stimulus package to support the emirate’s economy and to ensure business continuity. This package is introduced in line with the ongoing efforts of the UAE Government to ease the financial burden on businesses in the emirate in time of the COVID-19 pandemic. The package forms part of Ras Al Khaimah’s continuous efforts to help the private-sector companies to ensure continuity of business in all sectors in times of COVID-19. The package includes:
Planting trees instead of paying fines
As part of the stimulus package, Environment Protection and Development Authority in Ras Al Khaimah launched an initiative in which environmental violations incurred before 31 March 2020 could be compensated for by planting trees. This initiative reflects RAK’s ecological mandate and the desire to establish focus on environmental protection in the emirate.
50 per cent discount on Hemaya fines
General Resources Authority (GRA) is exempting investors from paying fees on commercial vehicles until 1 October 2020. Additionally, it is providing 50 per cent discount on fines to different establishments and service providers for violating conditions of the Hemaya security system. The discount can be availed before 1 October 2020.
Support for 15,000 companies and 25 per cent discount on new residence visas for family members
Ras Al Khaimah Economic Zone (RAKEZ) launched a package of customisable incentives, aimed at supporting more than 15,000 companies operating under its umbrella. These incentives include:
Other initiatives supporting the tourism sector include:
Read related news coverage on the websites of WAM and RAK Media Office.
Popular searches