Ras Al Khaimah will reduce licensing fees for small and medium-sized business by 25%

Sheikh Saud bin Saqr Al Qasimi, the ruler of Ras Al Khaimah and a member of the Supreme Council, has ordered a 25% reduction in the cost of licensing for small and medium-sized businesses in the emirate. This decision is just one of the measures being taken to control the amount of influence the government has over the development of different sectors of the economy and to ensure the stable development of the emirate as a whole.

In addition to this step, Sheikh Saud has ordered a 20% reduction in license renewal fees for any properties that sustained damage as a result of infrastructure works on Sheikh Mohammed bin Salem Street. This discount also applies to properties that were negatively impacted by violations committed by local authorities and the Emirate Chamber of Commerce and Industry as a result of this construction. The 20% fee reduction will be valid for two years.

The reduction in licensing fees is expected to decrease the financial burden on small and medium-sized businesses, stimulate their development and strengthen their presence in the real estate, retail and investment sectors. As a result, the economic growth that the emirate is currently experiencing will become even more intense.

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