RAK Digital Asset Oasis (RAK DAO) in the United Arab Emirates aims to support businesses in the blockchain and digital asset space. In an interview with Chief Commercial Officer Luc Froehlich, the benefits of working in this innovative hub were discussed.
Overview of RAK DAO and its Initiative
RAK DAO operates under the initiative of the ruler of Ras Al Khaimah, aiming to create a global hub for blockchain technologies. The focus is on non-regulated activities, allowing companies from various sectors, from gaming to AI development, to be attracted.
Benefits of Free Zones in UAE
Free zones in the UAE offer several advantages, including full ownership of a company, a zero income tax rate, and a flexible visa system to attract international talent. There are over 50 free zones in the UAE, each oriented toward specific industries, including digital assets.
How to Integrate into the RAK DAO System
Integrating into RAK DAO involves several steps, including identifying the type of activity and license most suitable for the company. Additionally, RAK DAO provides access to a range of partners who can assist with legal and technological questions. Over the past 18 months, over 550 companies have been registered in the RAK DAO within the Web3 space.
RAK Digital Asset Oasis represents a promising direction for entrepreneurs in the blockchain space. With government support and a flexible licensing system, it creates unique conditions for the growth and development of new projects.
