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RAKEZ Offers Discount On License And Lease Renewals

by Lorys Charalambous, Lowtax.net, Cyprus
24 November, 2017

Ras Al Khaimah Economic Zone (RAKEZ), the new regulator with oversight of the Ras Al Khaimah Free Trade Zone and RAK Investment Authority, has announced a 10 percent discount for license and lease deed renewals.

The offer is open to licensees and lessees who approach the regulator 30 days prior to the expiry of their license or lease deed contract and request a discounted three-year renewal package. The offer is valid until February 28, 2018.

RAKEZ was established to oversee and consolidate the specialized parks and clients of both Ras Al Khaimah Free Trade Zone and RAK Investment Authority, which are now home to over 13,000 multinational companies from over 100 countries. The zones administered by RAKEZ offer numerous advantages, including a tax-free investment environment, 100 percent foreign ownership, fast-track UAE visa issuance, and specialized free zone parks.

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