RAK Digital Assets Oasis is set to become the only free zone in the world exclusively dedicated to digital and virtual asset companies that operate in innovative and emerging sectors like blockchain, the metaverse, utility tokens, virtual asset wallets, NFTs, DAOs, DApp and other Web3-related businesses. The free zone will launch in the second quarter of 2023 and aims to attract both local and foreign investments, while promoting innovation and entrepreneurship.
RAK Digital Assets Oasis will benefit from the vast experience of its corporate leaders. Dr. Sameer Al Ansari, the CEO of RAK ICC and a member of the Board of Directors of Marjan, is one of the executives who will provide guidance and support for the free zone. He has extensive experience in various leadership positions in the Emirate, making him an asset in achieving the company’s objectives. Meanwhile, Ahmed bin Saqr Al Qasimi, Chairman of RAKEZ, will also be involved in the project.
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The free zone is expected to create a flexible business environment that enhances opportunities for success and prosperity. It will offer various benefits to digital and virtual asset firms, such as zero corporate and income tax, 100% business ownership and access to skilled professionals. These benefits will attract companies looking to establish a presence in the region and offer a favorable environment for them to grow and thrive.