UAE: Fines, late payment fees waived for RAK events organisers

Ras Al Khaimah - The exemption is valid for a year.

Image from used for illustrative purpose.
Image from used for illustrative purpose.

By Staff Reporter

Published: Sun 14 Mar 2021, 3:12 PM

Last updated: Wed 17 Mar 2021, 11:16 AM

The Department of Economic Development in Ras Al Khaimah on Sunday announced that all exhibition organisers, wedding halls and event venues will be exempted from licensing fees, fines, and late payment penalties for 2021.

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The decision issued by His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, aims to support businesses and boost economic activity in the emirate.

“The exemption remains valid for one year from the date of implementation,” a source said.

The new exemptions follow an earlier set of measures that were approved last year. As per that directive, 50 per cent of trade licensing fees were waived off, while establishments were exempted from fines and late fees.

“Targeting the exhibitions sector, the stimulus package introduced over the last one year included a 50 per cent 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 per cent off for consumer and specialised exhibitions held at the RAK Exhibition Centre.”

Companies operating in this sector are receiving “significant support” from decision-makers in a bid to ensure that quality products and services are provided to boost RAK’s economic competitiveness.

“These incentives are the latest in a series of stimulus packages introduced by Ras Al Khaimah over the course of the past year, which covered various sectors and benefitted 15,000 companies.”

These included a 25 per cent 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.

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