Clients to operate in the Emirate mainland using the same free zone office
Ras Al Khaimah Economic Zone (RAKEZ) recently unveiled its Dual Licence structure, which allows investors to operate in both free zone and mainland jurisdictions, without the need to have an additional facility in the mainland.
The new structure has been launched by the economic zone in collaboration with Ras Al Khaimah Department of Economic Development (RAK DED).
Dual Licence holders will be able to distribute products and offer services in free zone and mainland areas with a free zone licence issued by RAKEZ and a ‘Branch of a Free Zone Company’ licence issued by RAK DED. The unique dual licence setup entitles investors a 100% foreign ownership and the eligibility to bid for government contracts.
“We are glad to have teamed up with RAK DED for another initiative that emerges from our shared goal of further developing Ras Al Khaimah’s vibrant economy,” said Ramy Jallad, CEO, RAKEZ Group. “We are pleased to collaborate with RAKEZ on yet another great initiative for the benefit of global investors who chose Ras Al Khaimah to base their operations,” observed Dr. Abdulrahman Alshayeb Alnaqbi, Director General of RAK DED.