RAKICC & RAKEZ to Register Land And Freehold Properties23-07-2019
DLD MOU with RAKICC & RAKEZ
Ras Al Khaimah International Corporate Center (“RAKICC”) and Ras Al Khaimah Economic Zone (“RAKEZ”) can now register land and freehold properties- in any of the 23 freehold areas in Dubai- on behalf of free-zone companies. This development is a result of the Memorandum of Understanding (“MOU”) that was signed between Dubai Land Department (“DLD”) and RAKICC & RAKEZ- separately.
If a company is registered and listed with RAKICC or RAKEZ and its shareholders are natural persons- it can register freehold land, properties and/or any right in rem by submitting a No Objection Letter issued by RAKICC or RAKEZ as well as paying the registration fees and complying with DLD’s procedures.
How TLG can help
TLG’s Corporate & Commercial Division would be pleased to provide you with assistance and support in assessing the applicability and/or impact of this new development to your specific case, as well as, assist with incorporating free-zone companies in both RAKICC and RAKEZ.
Should you have any questions and/or queries, please feel free to contact TLG’s Corporate & Commercial Division for further information and assistance you may require. To receive regular updates on key legal matters and issues, subscribe to TLG’s website: www.tlg.ae