Ras Al Khaimah has started issuing lifetime visas
We are witnessing a competition among the resort cities of the UAE, each striving to attract a share of investments. Recently, there was news about the possible construction of a casino in Dubai, and in Ras Al Khaimah, it is set to appear in 2027. Now, the northernmost emirate has responded by introducing lifetime visas, which come with their own unique features. Let's delve into the details.
What it's about
Now you can obtain a lifetime visa in Ras Al Khaimah by submitting an application through the RAKEZ or Ras Al Khaimah Economic Zone, located closer to the historical center of the city. This privilege will cost you $4,500 per year. The official program is called All-Inclusive.
What you get for these funds
• Residency visa and the ability to live in any city in the UAE.
• Accelerated and simplified visa application process.
• Assistance in visa processing for third parties.
• Full access to medical care.
• Preliminary approval for a business license.
• The ability to work, open a bank account, obtain a driver's license, and more.
How long they've been introduced
Representatives of RAKEZ announced the visa package but did not specify how long this opportunity will be available. Currently, the emirate is experiencing significant growth following the announcement of the construction of the first casino in the region. There is also an influx of foreign investments and an increase in the number of projects in several sectors, primarily in real estate and the hospitality industry.
In the first quarter of 2023, RAKEZ attracted over 1800 new enterprises to the emirate. By the end of the year, this number is expected to double. In the future, the emirate may pose competition to Dubai's business environment.
If you are interested in investing in real estate projects in Ras Al Khaimah and want to profit from property, call +971 (4) 450-2640 for a consultation.