Dubai has launched a new residency programme to help personals working overseas,
Ras Al Khaimah’s ruler and UAE Supreme Council Member, Sheikh Saud bin Saqr Al Qasimi has announced that selected commercial activities that were affected badly by COVID-19 will be benefited with reduced trade license renewal fees. Certain businesses will be completely exempted from penalties which were imposed during the lockdown.
These instructions were brought forward to help regulate the flow of businesses and to support these small activities survive during the time of the pandemic. He has also advised Ras Al Khaimah Department of Economic Development (RAKDED) to provide a 50% exemption on the annual trade license renewal fees to nurseries.
In addition to it, the institutions which gave their facilities for quarantine purposes will be provided with a 25% exemption. A 50% exemption on license renewal fees will be offered to the ones that are situated near the Ras Al Khaimah International Airport, which had no other alternative locations to shift their businesses.
Any penalties incurred during the lockdown to any businesses will be fully exempted. These exemptions will be valid for a year.
These exemptions aim to back up the businesses during such tough times and improve their operations. Only if the businesses are active it will benefit the nation’s economy and the welfare of the people. Such benefits from the government will help the people and it will also be an inspiration for other businesses to choose the country for their businesses operations. They will introduce more foreign direct investments in the nation as well.