In a landmark move to enhance business opportunities, the Ras Al Khaimah International Corporate Centre (RAK ICC) has announced new developments under the 2024 Emiri Decree. These changes are set to empower International Business Companies (IBCs) by providing expanded operational capabilities within the Ras Al Khaimah Economic Zone (RAKEZ).
RAK ICC has been authorized to issue free zone commercial licenses for its IBCs, introducing a significant enhancement to its services. Alongside its ongoing role in registering and incorporating IBCs, this new licensing option expands opportunities for companies to establish a presence within the free zone. This new option enables businesses to apply for a RAKEZ free zone address and engage in commercial activities within RAKEZ, further enhancing their operational scope and presence.
Registration options for a RAKEZ free zone Address:
- A RAK ICC company can use a registered agent or a branch of their RAK ICC Agent registered within RAKEZ free zone address.
- A RAK ICC company can obtain an address in the RAKEZ free zone co-working facility.
- A RAK ICC company can lease a dedicated office within the RAKEZ free zone to be its assigned address.
Companies obtaining the RAK ICC free zone commercial license may also benefit from various UAE FTA corporate tax advantages, including eligibility for a tax residency certificate and access to double taxation treaty benefits.
Registered Agents will remain fully responsible for overseeing the ongoing administration of companies licensed in the free zone and will continue to serve as the exclusive liaison with RAK ICC.
For inquiries, please reach out to our team at office@slglaw.cc