Ras Al Khaimah, which in short is also known as RAK, has taken the initiative to establish Wolrd’s First digital and virtual asset, “RAK digital assets oasis,” to attract investors and entrepreneurs.
So, a Business Setup in RAK will be a great opportunity for all entrepreneurs worldwide as it is the world’s first freezone dedicated to digital and virtual asset companies.
Continue reading to learn more about this new initiative of the RAK digital asset oasis.
RAK Free Zone Company Setup - Digital Assets and Their Rise
The traditional financial system has taken a back seat after the interference of these digital assets. Assets like cryptocurrencies, blockchain, and virtual currencies have transformed into a great development it has significant traction all over the world.
Perks of the Virtue Asset Free Zone
The establishment of digital and virtual assets for a RAK Free Trade Zone Company Formation will attract investors by offering the perks listed below;
- Like all other freezone, the investor will get 100% ownership
- Zero corporate and personal tax
- 100% repatriation of all your profits
- Organized rules and regulations with all the basic requirements for your digital asset company
- Hands-on usage of new innovation and high-tech modern technologies.
- A growing economy and global competitiveness.
Besides the benefits listed above, the other perks investors can get are the ICO - initial coin offerings and STO - Security token offering. These offerings will let the investors work in peace and harmony.
On the whole, RAK digital asset oasis provides all the basic requirements that an investor looks forward to doing a Business Setup in RAK. To back this up, the strategic location, business-friendly environment, and growing industry are attracting more entrepreneurs and investors to start a business in Ras-al-Khaimah (RAK)
Choose Us for Your RAK Free Zone Company Setup
The word digital itself is a confusing term; one can not easily get into this, especially when someone wants to start a business in Ras-al-Khaimah’s digital asset oasis freezone, which is a newly established one; the confusion and the question are understandable. Seek an expert’s advice like “Commitbiz” who already has knowledge of this area. Our professionals will guide you through the process anytime.
What is RAK's initiative to establish the world's first free zone for digital and virtual asset companies?
RAK plans to launch RAK Digital Assets Oasis, a dedicated free zone in Ras Al Khaimah, UAE, exclusively catering to digital and virtual asset companies. It aims to provide a purpose-built ecosystem for innovation in emerging sectors like metaverse, blockchain, NFTs, and more.
How is RAK Digital Assets Oasis different from other free zones?
RAK Digital Assets Oasis distinguishes itself by being the world's first free zone solely focused on digital and virtual asset service providers. It aims to foster growth and development in these sectors by offering a supportive environment and infrastructure tailored to their unique needs.
When will RAK Digital Assets Oasis start accepting applications?
RAK Digital Assets Oasis is scheduled to open for applications in the second quarter of 2023. Interested digital and virtual asset space companies can apply to be part of this pioneering free zone during that time.
What kind of activities will RAK Digital Assets Oasis accommodate?
RAK Digital Assets Oasis aims to accommodate various digital and virtual asset sector activities. It includes but is not limited to metaverse development, blockchain services, utility tokens, virtual asset wallets, NFT marketplaces, decentralized applications (DApps), and other businesses related to Web3 technologies.
Why is Ras Al Khaimah attractive for digital and virtual asset companies?
Ras Al Khaimah offers several advantages as a business destination, making it an attractive location for digital and virtual asset companies. It boasts political stability, a forward-thinking mindset, adaptability, and an environment conducive to innovation. Additionally, it occupies a strategic time zone, bridging the gap between Western and Eastern financial centers and providing a favorable business environment for companies operating in these sectors.
