We are seeing a picture of rivalry between the resort towns of the UAE, which are trying to steal some of the investment. Recently there was news about the possible construction of a casino in Dubai; it will appear in Ras Al Khaimah in 2027. And now the northernmost emirate has responded by introducing lifetime visas, which have their own characteristics. Let's figure it out.
You can now obtain a lifetime visa in Ras Al Khaimah by applying through the RAKEZ economic zone, located closer to the historic city center. This pleasure will cost you $4,500 per year. On the official website the program is called “all inclusive”.
• resident visa and the opportunity to live in any city in the UAE;
• accelerated and simplified procedure for applying for a visa;
• assistance in obtaining visas for third parties;
• the opportunity to receive medical care in full;
• pre-approval of a business license;
• the opportunity to work, open a bank account, get a driver's license, and so on.
RAKEZ officials announced the visa package, but did not say how long the opportunity would be valid. The emirate is currently experiencing a significant boom with the announcement of the region's first casino. There has also been a surge in foreign investment and an increase in the number of projects in several industries: primarily in the real estate and hospitality sectors.
In the first quarter of 2023, RAKEZ attracted more than 1,800 new businesses to the emirate. By the end of the year there will be twice as many. And in the future, the emirate can compete with the business environment of Dubai.
