The Twin Permit framework of Ras Al Khaimah opens the market for investors in the Emirate

Ras Al Khaimah Economic Zone (RAKEZ) launched the Twin Permit framework in the Emirate. Under the dual license structure, businesses can operate on the mainland as well as in the free zone in Ras Al Khaimah. Thus, foreign investors can have 100% ownership. Such a license qualifies them to participate in the bidding for federal government contracts.
Under the new framework, businesses will have two licenses – A Free zone license and a Branch of a free zone company. They need not build two offices for such operations; the office in RAKEZ is enough.
This initiative aims to provide more expansion opportunities to businesses to improve their reach. It will attract more foreign investors to invest in the Emirate. This will, in turn, give a boost to the economy of the Emirate.
This initiative eases the past rigid restrictions of RAKEZ. The collaboration between Ras Al Khaimah Department of Economic Development (RAK DED) and RAKEZ led to this launch. The former will provide the ‘Branch of a free zone company’ license while RAKEZ will provide the ‘free zone license’.
With such a dual licensing structure, the Emirati government aims to make it an investment center. The government aims to increase its attractiveness for global investors. With more investment, it will get more attraction as one of the ideal destinations to live, travel, and work.
Twin Permit framework of Ras Al Khaimah

About Ras Al Khaimah

Ras Al Khaimah is an Emirate in the UAE with a business-friendly environment, rich culture, and premium infrastructure. It is a popular base in the UAE for world-class businesses and industries. It provides international-level logistical facilities such as superhighways, airports, and seaports.
The government of Ras Al Khaimah has developed RAKEZ as an industrial hub. First-class services are available to businesses in this free zone. Many startups, manufacturers, SMEs, and entrepreneurs have developed their offices in this free zone.

RAKEZ has customized zones to create development opportunities for specific industry sectors. These zones pertain to education, manufacturing, and commercial and services sectors. Thus, RAKEZ is making policy changes and bringing in initiatives to improve its economic growth.

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About Business Setup HQ

With such an announcement from the RAKEZ, we know you would be interested in investing in this Emirate. Let us know if you need any help with setting up your business. We provide consultancy and Business Setup Services in the UAE.

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You can form a business in any of the business activities including Aviation, IT & Telecommunications, Pharmaceuticals, Trading, Consultancy Management, Light Industries, Marketing and Event Management, Aerospace, Airport Services, Defense, Cargo, Logistics, and Freight.
ADAFZ provides completely furnished, well-maintained office spaces along with all the necessary support services. Individuals and groups will find it easy to establish in either of the free zones, thanks to the facilities. It may not be difficult to start a company in the ADAFZ but it would be better if you hire an expert business consultant who will help you with the necessary guidance and support to establish a business in ADAFZ.
Any company intending to set up a base in ADAFZ must produce the following documents at the time of registration:

  • Passport copy in color
  • Business plan
  • Copy of residence visa of UAE and Emirates ID
  • Resume
  • Utility bill copy
  • NOC from existing sponsor

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