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Emiri Decree Number (23) of 2023 Regarding the Geographical boundaries of RAK Digital Assets Oasis

Emiri Decree
Emiri Decree Number (23) of 2023 Regarding the Geographical boundaries of RAK Digital Assets Oasis We, SAUD BIN SAQR BIN MUHAMMED Al QASSIMI, Ruler of Ras Al Khaimah; Pursuant to the perusal of the Law No. 2 of 2023 concerning the establishment of RAK Digital Assets Oasis; Decree number 12 of 2023 regarding the Geographical boundaries of RAK Digital Assets Oasis; As the public interest may require, We have issued the following decree: Article (1) The following geographical zones are designated to RAK Digital Assets Oasis: a. The area located in Al Jazeera Al Hamra area and whose boundaries are set out in the attached drawing. b. Ground and fifth floor located in RAK Bank building in Ras Al Khaimah - Al Rafaa area. Article (2) The areas mentioned in Article 1 of this Decree shall be free zone areas and companies licensed by RAK Digital Assets Oasis Authority shall operate within these areas. Article (3) Any properties or offices owned, rented, or designated for the use of RAK Digital Assets Oasis Authority within the emirate of Ras Al Khaimah shall be subject to the applicable rules and regulations of RAK Digital Assets Oasis Authority and shall be treated as free zone areas. Article (4) Decree number 12 of 2023 regarding the Geographical boundaries of RAK Digital Assets Oasis shall be repealed and any provision of any other local law shall be hereby repealed to the extent to which it is in conflict with the provisions of this Decree. Article (5) This Decree shall come into force from the date of its issuance and shall be published in the Official Gazette. SAUD BIN SAQR BIN MUHAMMED Al QASSIMI Ruler of Ras Al Khaimah Issued on 6th Month Jumada Al-thani of 1445 H. Corresponding to 19th Month December of 2023 AD.
  • The following geographical zones are designated to RAK Digital Assets Oasis:
    a. The area located in Al Jazeera Al Hamra area and whose boundaries are set out in the attached drawing.
    b. Ground and fifth floor located in RAK Bank building in Ras Al Khaimah - Al Rafaa area.
     
  • The areas mentioned in Article 1 of this Decree shall be free zone areas and companies licensed by RAK Digital Assets Oasis Authority shall operate within these areas.


     
  • Any properties or offices owned, rented, or designated for the use of RAK Digital Assets Oasis Authority within the emirate of Ras Al Khaimah shall be subject to the applicable rules and regulations of RAK Digital Assets Oasis Authority and shall be treated as free zone areas.
     
  • Decree number 12 of 2023 regarding the Geographical boundaries of RAK Digital Assets Oasis shall be repealed and any provision of any other local law shall be hereby repealed to the extent to which it is in conflict with the provisions of this Decree.
     
  • This Decree shall come into force from the date of its issuance and shall be published in the Official Gazette.

Classification
  • Civil Legislation
  • Investment Legislation
  • Free Zone
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