The Ras Al Khaimah Economic Zone (RAKEZ) has launched Dual License structure in collaboration with Ras Al Khaimah Department of Economic Development (RAK DED), to allow investors to operate in both free zone and mainland jurisdictions without the need for an additional mainland facility.
Dual License holders will be able to distribute products and offer services in free zone and mainland areas with a free zone license issued by RAKEZ and a ‘Branch of a Free Zone Company’ license issued by RAK DED. The one-of-a-kind dual license structure grants investors 100 percent foreign ownership as well as the ability to bid on government contracts.
RAKEZ will continue to seek out new products and services to offer its clients in order to increase its competitiveness as a global investment hub and to promote Ras Al Khaimah as an ideal place to work, live, and explore.
Ramy Jallad Group CEO, RAKEZ
“We are always keen to provide our clients with the best solutions. We launched the Dual License structure for this very reason to offer them the best of both free zone and mainland benefits without the need to incorporate a separate company. Basically, this package opens up a new market for their business, and substantially expands their accessibility and reach, all whilst reducing the red-tape requirements of the past.“
Dr Abdulrahman Alshayeb Alnaqbi, Director General of RAK DED, said that “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. We will continue to work together to further elevate RAK’s investment landscape and make it even more welcoming and dynamic than it is today.“
