Ras Al Khaimah Economic Zone

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Ras Al Khaimah Economic Zone (RAKEZ) is an Emirati free zone in Ras Al Khaimah in United Arab Emirates. In January 2020, Entrepreneur reported the free zone to have 14,000 companies across 50 industries.[1] It was introduced in 2017[2]and is one of the 37 free zones across in the United Arab Emirates. During COVID-19 pandemic, RAKEZ moved towards digitisation and was reported to have 20% growth in 2020.[3]The Free zone also launched a scheme to provide 12 years visa for investors purchasing an apartment in the zone in partnership with real estate developers Al Hamra.[4]RAKEZ allows a one hundred percent foreign ownership.[5]

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References[]

  1. ^ Staff, Entrepreneur Middle East (2020-01-31). "Trade License Zone Inks Partnership With RAKEZ To Offer Its Company Formation Services At The UAE Free Zone". Entrepreneur. Retrieved 2021-05-15.
  2. ^ "Overview of Company Formation in Ras Al Khaimah Economic Zone - STA Law Firm". www.stalawfirm.com. Retrieved 2021-05-15.
  3. ^ "Video: Growth during pandemic? RAK Economic Zone reports up to 20% jump in leads this 2020". gulfnews.com. Retrieved 2021-05-15.
  4. ^ Godinho, Varun (2020-12-14). "RAK developer offers UAE residency with purchase of homes". Gulf Business. Retrieved 2021-05-15.
  5. ^ Abbas, Waheed. "Ras Al Khaimah allows 100% foreign ownership in mainland". Khaleej Times. Retrieved 2021-05-15.

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