RAK stimulus to help businesses

Dubai - RAK Municipality has exempted tenants in markets (owned by the municipality) from rental fees for three months.

Ras Al Khaimah has rolled out an integrated stimulus package for all business sectors in line with an initiative to support the emirate's economy and to ensure continuity of business.
The comprehensive measures will cover all business sectors while ensuring the highest levels of coordination and engagement between decision makers in government entities and free zones, the General Secretariat of the Executive Council in Ras Al Khaimah said in a statement.
The package includes three levels of support comprising payment deferrals, fee exemptions and consultancy services. The plans includes support for 15,000 companies and 25 per cent discount on new residence visas for family members as well as exemption from exhibition charges and support for Emirati entrepreneurs, and fee reductions up to 50 per cent while facilitating fine waver on condition of planting trees.
Dr. Mohamed Abdullatif Khalifa, secretary general of Ras Al Khaimah Executive Council, said the emirate's prudent leadership is keen to offer all means of support and empowerment to the business community. The measures will enhance public and private sector partnerships and drive sustainable development, he said.
The stimulus package, developed in cooperation with all concerned entities, will cover every sector involved in economic activities, including tourism, government services, environment and SMEs. "This ensures that all companies and organizations benefit from the incentives, especially SMEs, which make up the largest number of companies operating in Ras Al Khaimah and which are the most affected by the current situation."
Under this package, all government departments and related entities have agreed on three levels of support: payment exemptions, postponement of fees and the provision of consultancy and assistance.
One of the most notable incentives introduced by RAK government agencies is a 25 per cent exemption on fees for renewing commercial licenses that were closed as per circulars issued by government agencies, as well as for any sectors affected by the crisis, provided they meet the terms and conditions set by the Department of Economic Development in Ras Al Khaimah, said Dr. Khalifa.
"The measures taken by the Department of Economic Development include extending the license renewal period for 60 days from the date of expiry. In addition, business establishments will be allowed to operate around the clock for three months and be exempt from marketing permit fees for two months during this year, in case the current situation ends. Hotels, resorts and all tourism activities will also be exempt from commercial registration during the closing period," said the statement.
RAK Municipality has exempted tenants in markets (owned by the municipality) from rental fees for three months, including barbershops, beauty salons and shops in Nakheel market. It has also exempted advertising companies from rental fees for three months and companies from the monthly installment fees of municipal rental documentation for the commercial sector for one year from the licence renewal date. It has also waived permit fees for outdoor area occupancy for roads and public facilities and reduced fees for issuing health insurance cards.
In addition, fees incurred by industrial establishments that pay less than Dh50,000 annually will be reduced by 25 per cent for the period April 1 to December 31,while annual fees from industrial establishments that pay more than Dh50,000 annually to the authority (such as crushers and cement factories) for April 1 to December 31, 2020 will be deferred for one year.
The General Resources Authority has announced the exemption of the fees on commercial vehicles (for investors) until October 1, 2020. Additionally, the GRA is availing a 50 per cent discount of 'Hemaya' fines against different establishments and service providers until October 1, 2020, provided that the violations occurred prior to this announcement. It has also offered small businesses, such as grocers, to place their ads on its website free of charge. The CCTV service providers use this website to renew or issue their licenses, and such a proposition will contribute in marketing for their services, said the statement. - issacjohn@khaleejtimes.com