Investing in UAE Real Estate Market has been made even easier, once the companies with individual shareholders registered in the Ras Al Khaimah Economic Zone (RAKEZ) or Ras Al Khaimah International Corporate Centre (RAKICC) were permitted to own properties in the freehold areas of Dubai (i.e. special designated areas in Dubai where non-UAE citizens can buy properties), without obtaining a Dubai trade licence.

Under the Memorandums of Understanding signed between RAKEZ and RAKICC and the Dubai Land Department (DLD), the DLD accepts the registration of freehold properties and all rights granted with it, provided that the company submits a ‘No Objection Letter’ (NOC) from RAKICC or RAKEZ, which is normally issued if the company is in a good standing, is duly registered and has only individual shareholder(s).

Please contact us at VK Law Consultancy to learn more about purchasing property for your RAKEZ or RAKICC Company (or about setting up one for this purpose, at the very competitive prices and with fast turnaround time)