Ras Al Khaimah : Ras Al Khaimah Economic Zone (RAKEZ) has 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 always keen to provide our clients with the best solutions. We launched the Dual Licence structure for this very reason – to offer them the best of both free zone and mainland benefits, all 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,” said Ramy Jallad, RAKEZ Group CEO. “We are glad to have teamed up with RAK DED for another initiative that roots from our shared goal of further developing Ras Al Khaimah’s vibrant economy.”

Commenting on the initiative, Dr Abdulrahman Alshayeb Alnaqbi, Director General of RAK DED, said: “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 Ras Al Khaimah’s investment landscape and make it even more welcoming and dynamic than it is today.”

RAKEZ will continue to venture for more products and services to offer its clients and to boost its competitiveness in the market as a global investment hub and to promote Ras Al Khaimah as an ideal work, live and play environment.

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For more information, please contact:

Cleo Eleazar, Public Relations & Events Manager, RAKEZ
Phone: +971 7 2077173; Email: c.eleazar@rakez.com 

About Ras Al Khaimah Economic Zone (RAKEZ):

RAKEZ is a powerhouse business and industrial hub established by the Government of Ras Al Khaimah in the United Arab Emirates. It currently hosts over 15,000 companies coming from over 100+ countries and operating in more than 50 industries.

RAKEZ offers entrepreneurs, startups, SMEs and manufacturers a wide-range of solutions, including free zone and non-free zone licences, customisable facilities, and first-class services provided in a one-stop shop. Furthermore, RAKEZ has specialised zones that are tailored to specific needs of investors: Al Nakheel and Al Hamra Business Zones for commercial and service companies; Al Ghail, Al Hamra and Al Hulaila Industrial Zones for manufacturers and industrialists; and an Academic Zone for educational providers.

A leading economic zone, RAKEZ aims to continue attracting diversified investment opportunities that will contribute to the economic growth of Ras Al Khaimah.

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