Ras Al Khaimah Decision No. 12 of 2007 on Freehold Property for Non-Citizens

We, Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler 

Having reviewed 

- Ras Al Khaimah Decision No. 20 of 2005, 

- Ras Al Khaimah Decision No. 18 of 2005 

- and other related Decisions on permitting Freehold ownership for non-citizens

- and acting in the public interest

have decided:

Article 1 – Work zones and buildings are considered investment free zones

Work zones, buildings of all types and sizes and land developed, owned or acquired by RAKIA (Ras Al Khaimah Investment Authority), Al Hamra Real Estate, Rakin company and companies owned by them or affiliated to them shall be considered investment free zones in which non-nationals, whether natural or legal persons and whether companies registered inside or outside the United Arab Emirates, may own any real estate located therein on a Freehold basis without the need to register any company of any kind for this purpose and without any procedures stipulated or that may be stipulated by the laws and regulations in the Emirate currently or in the future.

Article 2 – Allowance and Disposal of Real Estate

Ras Al Khaimah Investment Authority (RAKIA), ...