Media ININ Economy We Trust
Media In – Ras Al Khaimah 20 May
Ras Al Khaimah Economic City (RAKIA) has issued a number of new regulatory decisions that include a variety of incentives designed to develop the business environment in line with the real needs and aspirations of the emirate’s business community to increase the economic and commercial mobility of the emirate.
Dr. Abdul-Rahman Al-Shaib Al-Naqbi, Director General of the Department, said that the new incentive package launched by the department included extending the grace period for renewing the licenses from 30 days to 90 days, giving the licensees additional time to adjust their conditions and renewing their licenses within a suitable period of time. (Maximum 3 licenses) in one location for activities of an office nature limited to practice on the ground only through offices such as activities, professional and advisory, and related work And other similar activities. The issuance of economic licenses without the need to request the provision of an office at the first year only to branches of companies issued licenses from outside the emirate for all wholesale trade activities (other than food trade) and professional activities that do not require an office To engage in activity where the two procedures come as a catalyst to support some business in the emirate by reducing the cost of doing business.
Al-Naqbi added that the new incentives also included canceling the permit for additional hours for shops and commercial establishments to extend their work until 2 am, and replacing it with granting a permit to work 24 hours for the establishments that wish to do so, which encourages them to work to meet the needs of their customers throughout the day, New prospects for increased revenues and sales.
