AED 50 million support fund allocated by RAKEZ to boost its clients’ business continuity

Ras Al Khaimah Economic Zone (RAKEZ) has launched customised bundles of incentives with a total value of AED 50 million to ease the impact of the current global situation to its family of over 15,000 companies and reinforce their business continuity.

“Our clients are at the heart of everything we do, and now more than ever, we are here for them,” said His Highness Sheikh Ahmed bin Saqr Al Qasimi, Chairman of RAKEZ. “We understand that these uncertain times present unique challenges to different businesses, so we decided not to rush and launch unevaluated incentives. Instead, we took the time to study the situation from our clients’ perspective – what challenges each sector is facing and how we can lessen their burdens. With the allocation of this AED 50 million support fund, we make it possible to customise bundles of benefits based on each clients’ need to boost their business stability. Our aim is to make sure that when this situation ends, we come out stronger together and ready to bounce back.”

Under the allocated fund, the economic zone has introduced Client Support Boosters for the SME and the industrial sectors, offering various incentives and the agility to customise solutions based on its clients’ needs.

SME Client Support Boosters for RAKEZ’s co-working and office clients:

• 15% discount on total renewal package
• 25% discount on new dependent visas
• 100% waiver of late renewal penalties
• 100% waiver of cheque postponement fees
• 100% waiver of package downgrade fees
• 100% waiver of activity change fees 
• 100% waiver of security deposit for new visa requests
• Flexible instalment options

Industrial Client Support Boosters for RAKEZ’s industrial clients:

• 50% discount on licence fee
• 100% waiver of cheque postponement fees
• 100% waiver of late renewal penalties
• 100% waiver of all RAKEZ gate access fees
• 100% waiver of security deposit for new visa requests
• 25% discount on new labour accommodation requests
• 25% discount on new dependent visas
• Flexible instalment options

Commenting on the customisation benefits that RAKEZ offers to its clients, HH Sheikh Ahmed, said: “We have always been believers of customisation because we understand that businesses have different needs. On a general level, we have developed a list of incentives to help our clients, but we are here to listen to them and offer exactly the kind of backing they need based on their circumstances.”