The Government of Ras Al Khaimah (RAK) has announced its intention to launch RAK Digital Assets Oasis, the world’s first free zone dedicated to digital and virtual asset companies. The announcement was made at Blockchain Life 2023.
Commenting on the new free zone, Sheikh Mohammed bin Humaid bin Abdullah Al Qasimi, Chairman of RAK ICC and Chairman of RAK Digital Assets Oasis said: “We are proud to further the UAE’s position as a primary destination for innovation with the launch of RAK Digital Assets Oasis. We are building the free zone of the future for the companies of the future. As the world’s first free zone solely dedicated to digital and virtual asset companies, we look forward to supporting the ambitions of entrepreneurs from around the world with our progressive, supportive, and quick-to-adapt approach, and our innovation-enabling environment.”
Making the announcement, Dr. Sameer Al Ansari, CEO of RAK ICC and CEO of Digital Assets Oasis, said: “I am privileged to help implement the forward-thinking vision of the leadership of Ras Al Khaimah to enable, foster, and promote innovation in new and emerging sectors of the future. With the UAE’s established reputation as an innovation hub, RAK Digital Assets Oasis delivers a truly unique offering to global entrepreneurs bringing together an unmatched combination of accessibility and liveability, supported by Ras Al Khaimah’s business-friendly infrastructure, progressive policies, and an international lifestyle offering.”
RAK Digital Assets Oasis will be a purpose-built, true innovation-enabling free zone for non-regulated activities in the virtual assets sector. It is intended to be the only free zone in the world solely dedicated to digital and virtual assets service providers innovating in new and emerging sectors of the future including metaverse, blockchain, utility tokens, virtual asset wallets, NFTs, DAOs, DApp, and other Web3-related businesses. RAK Digital Assets Oasis will open for applications in the second quarter of 2023.
“We look forward to welcoming the world’s brightest Web3 minds with their most disruptive ideas that uncover new approaches to creating a better future. We are committed to empowering the next generation of global entrepreneurial talent to build transformative solutions and create impact, while shaping the future of businesses and economies,” added Dr. Al Ansari.
Ras Al Khaimah has established a reputation as a global business-friendly hub with political stability, a progressive, supportive, and quick-to-adapt approach, and an innovation-enabling environment in a strategic time-zone that fills the gap between financial centres in the West and the East. RAK Digital Assets Oasis’ unique lifestyle proposition will support companies with robust, innovation-enabling adoption frameworks, advisory and professional services, hybrid workspaces, accelerators and incubators, sandboxes, access to funding, and an environment that encourages entrepreneurs to imagine, create, and evolve.
The free zone aligns with the UAE’s position as a primary destination for innovation. RAK Digital Assets Oasis will be a remote-work friendly, globally connected destination for digital and virtual asset companies building innovative business models for the future that will be well positioned to tap into the region’s emerging markets.
For further information, please visit www.rakdao.com
About RAK Digital Assets Oasis
RAK Digital Assets Oasis is a purpose-built, true innovation-enabling free zone for the companies of the future. RAK Digital Assets Oasis is the world’s first free zone solely dedicated to digital and virtual asset companies innovating in new and emerging sectors of the future including metaverse, blockchain, utility tokens, virtual asset wallets, NFTs, DAOs, DApp, and other Web3-related businesses.
Located in Ras Al Khaimah in the UAE, the free zone brings together bespoke, progressive, framework-defining digital asset legislation with world-class infrastructure to create a vibrant ecosystem where innovative technology enterprises thrive.
RAK Digital Assets Oasis’ unique lifestyle proposition supports companies with robust, innovation-enabling adoption frameworks, advisory and professional services, hybrid workspaces, accelerators and incubators, sandboxes, access to funding, and an environment that encourages entrepreneurs to imagine, create and evolve.
About Ras Al Khaimah
Included in Time magazine’s World’s Greatest Places of 2022 and CNN Travel’s Best Destinations to Visit in 2023, Ras Al Khaimah offers an experience of a lifetime where travellers can feel the Emirate’s beating heart across a range of landscapes from the sea and beach, to the desert and mountain range. Offering over 7,000 years of fascinating history, traditions and culture, Ras Al Khaimah promises an authentic and easily accessible Arabian experience. A haven of year-round sunshine, the Emirate features pristine beaches, lush mangrove trees and terracotta dunes, as well as fertile, green oases and the dramatic, awe-inspiring vistas of the majestic Hajar mountains, including the UAE’s highest mountain peak – Jebel Jais – where temperatures are around 10 degrees lower than sea level.
Named the Gulf Tourism Capital in 2020 and 2021, much of Ras Al Khaimah’s popularity comes from the increasing ease of accessibility. Located a few short hours by flight from various key European hubs, the Emirate is just a 45-minute drive from Dubai International Airport. With a wide choice of accommodation, from ultra-luxurious beach resorts managed by global hospitality brands, to family-friendly and affordable hotels and glamping accommodation, Ras Al Khaimah is the ideal destination for leisure travellers, families, couples and adventure seekers.