Sheikh Saud bin Saqr Al Qasimi announces reduced trade licence renewal fees and full exemption from fines incurred during the lockdown period
Ras Al Khaimah ruler Sheikh Saud bin Saqr Al Qasimi has issued a lifeline to certain certain commercial activities that were especially hit by the lockdown and other precautionary measures enacted to curb the spread of Covid-19.
The ruler on Monday announced that those companies will benefit from reduced trade licence renewal fees and full exemption from fines incurred during the lockdown period.
Sheikh Saud directed Ras Al Khaimah Department of Economic Development (RAKDED) to offer nurseries a 50 percent exemption from their annual trade licence renewal fees.
In addition, establishments that closed to allow their facilities to be used for quarantine purposes will benefit from a 25 percent exemption, while facilities located at Ras Al Khaimah International Airport that had no alternative locations to divert operations to will benefit from a 50 percent exemption on licence renewal fees.
These exemptions will be in place for a year, in addition to full exemptions being granted from penalties for violations incurred during lockdown.
The new directives add to a series of measures undertaken by Sheikh Saud to ensure business continuity in vital economic sectors and ease the burden brought about by the novel Coronavirus situation, while ensuring Ras Al Khaimah’s economy continues to record significant performance and competitiveness scores across all fields.
His directives have supported the Government’s efforts to ensure commercial activities in the emirate can continue.