RAK Offshore Companies Eligible to Buy Property in Dubai
RAK Offshore companies can buy and own land properties in Dubai. Successful from July 16, 2019, every single offshore company could not own properties in Dubai, aside from companies enlisted in the JAFZA. This has changed at this point.
Great news, which stood apart a month ago in Dubai. Companies recorded under RAK International Corporate Center (RAKICC) also called as RAK offshore companies can purchase property in Dubai’s freehold regions.
The change pursues the signing of the Memorandum of Understanding (MoU) among Ras Al Khaimah Economic Zone (RAKEZ) and RAKICC and also the Dubai Land Department (DLD) on 16 July 2019.
This will now allow a greater adaptability to real estate specialists to enhance and structure their wealth in the UAE. DLD will invite applications from RAKICC companies for freehold property possession. RAK offshore will have the right to regulate Dubai’s properties. The RAKICC authority must issue a “No Objection Letter (NOC)” from RAKICC to DLD.
There are new guidelines that will be issued by the Dubai Land Department (DLD) and RAKICC will issue regarding the terms and also conditions of buying properties through RAK offshore company.
Real estate specialists are excited about seeking ownership of the property using a corporate, which is cost effective, then the investment one.
And furthermore to the Dubai market experts who constantly consider approaches to make a better legal system to foreign investors.
What are the Required Documents to Set up an RAK Offshore Company in UAE?
- Passport copy/ Personal profile/ Address profile of a shareholder
- And also bank reference letter
Advantages of Setting up RAK Offshore Company in UAE
- 100% foreign ownership
- Can use it as a holding company and also hold intellectual properties
- Opening a corporate bank account
- Invest in properties business locally as well as internationally
- And also Favorable tax conditions
Why MSZ Consultancy?
We MSZ Consultancy corporate service provider offer a full scope of a power of attorney just as other additional services including legal papers drafting, property transferring, portrayal, confirmations and also corporate services. If you have questions, connect with us on +971 52 544 1248 or email at email@example.com
Find out how much it cost you to setup your Dream Business
Other Recent Blogs
What’s a sole proprietorship? Also known as a sole trader, proprietor, or solo establishment, a sole proprietorship is one of the simplest and most common vehicles for starting your own business. This is a great choice for an individual who’s ready to go it alone in...
Business setups in UAE are some of the most popular and also recognized to be some of the most successful amongst all of the world’s economic centers. The modern infrastructure and many attractions here persuade many expats to launch their own business right here in...
Developing proper accounting and bookkeeping procedures is critical for a business's success, no matter the size or scope. Per the regulations of the UAE government, maintaining detailed books of your business accounts is a mandatory requirement that must be completed...
Numerous institutions in the UAE require documents to be attested or notarized before they are official. This is typically due to a wide range of reasons. Usually, companies request that documents submitted by employees, like college certificates and other...
The UAE is one of the largest business hubs on Earth, with a booming market and tons of opportunities for investors and entrepreneurs. But for business setup in Free Zones, you are required to own and maintain a banking account to make transactions and conduct...
The United Arab Emirates government has gone to great lengths to welcome and invite foreign nationals. The nation has invested in creating an impressive infrastructure with modern engineering, and has worked hard to create a better, more convenient quality of life for...
Subscribe to Our Newsletter
We’ll keep you updated on the latest trends and news