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RAKICC Entities can hold Dubai Freehold Properties

PUBLICATIONS / Articles / 2019 / RAKICC Entities can hold Dubai Freehold Properties
A recently concluded Memorandum of Understanding (MoU) between Dubai Land Department (DLD) and Ras Al Khaimah International Corporate Centre (RAKICC), permits for the registration of land and freehold properties by companies registered with RAKICC. 

Subject to the approval of DLD, RAKICC entities owned by juristic persons or a combination of natural and juristic persons may also enjoy such benefits as prescribed to RAKICC companies whose shareholders are wholly natural persons. 

This partnership between the two emirates’ would greatly boost the already mature real estate sector in Dubai, and the fast-growing expansion of RAKICC as the premier jurisdiction for special-purpose companies especially for holding vehicles, which is highly suitable for the new development—allowing the RAKICC-registered holding companies access to Dubai’s attractive real estate sector.


To know more about holding Dubai property with a company, please check out this article.


 

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