Ras Al Khaimah has slashed commercial licence fees as it looks to provide SME boost for entrepreneurs.
Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, has directed to reduce commercial licensing fees by 25 per cent for all small and medium enterprises (SMEs) in the southern regions.
The directives came within the framework of Sheikh Saud’s follow-up of work progress in various economic sectors in the emirate, and in line with the efforts made by the government to support and develop economic activities in these regions, and to ensure sustainable development in the emirate spans evenly across all regions.
Ras Al Khaimah licence fee
The Ruler of Ras Al Khaimah also ordered implementing a 20 per cent reduction, lasting two years, in the licence renewal fees of facilities that were affected by the infrastructure works carried out on the Sheikh Mohammed bin Salem Street, and any violations resulting from them from all local government departments and bodies and the Ras Al Khaimah Chamber of Commerce and Industry.
The step is expected to contribute to increasing boost real estate, trade and investment activity in light of the remarkable economic activity the emirate is seeing.
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