Ras Al Khaimah, a city in the UAE, is now offering permanent residency visas for an annual fee of AED16,500, according to the emirate’s freezone authority, RAKEZ. The “all-inclusive” package provides visa holders with a UAE residence visa, assistance with third-party visa processing, medical tests, an Emirates ID card, pre-approval for a business license, and use of a shared workstation. This affordable visa option aims to attract entrepreneurs and residents, offering family sponsorship opportunities and an entry point into the business world with minimal investment. The move aligns with Ras Al Khaimah’s broader economic development plans, including the construction of the Wynn Resort Al Marjan Island, set to be completed by late 2026 or early 2027.
For the latest updates, interested applicants can submit their requests directly through the RAKEZ website. The AED16,500 company set-up package covers all fees with no additional costs, providing an affordable and flexible pathway to long-term residency.
RAKEZ’s announcement did not specify the duration of the offer, but the affordable visa initiative is expected to contribute to the emirate’s growth, attracting foreign investment and fostering economic opportunities. The first quarter of 2023 saw RAKEZ welcoming over 1,800 new businesses, indicating a positive trend that is likely to continue as the year progresses.