Free zones in RAK (Ras Al Khaimah)

Through its various free zones, Ras Al Khaimah provides businesses with incentives to establish their shops in the region. Free zones in RAK were inaugurated with the main aim being to facilitate hassle free investment opportunities to interested businesses. Companies established and operating in Free zones in RAK enjoy minimal restrictions and a range of special economic benefits. Ras Al Khaimah is located just less than an hour drive from Dubai, UAE’s business hub which has made the region one of the most preferred investment destinations by investors from all over the world. Location Despite the fact that UAE has many free zones, the Free zones in RAK enjoy a geographic advantage and the proximity to Port Saqr gives RAK a better preference than other free zones. Its proximity to the port of call enhances trans- shipment as well as accessibility to many countries all over the world. Free zones in RAK all have an easy access to great markets such as the CIS, Africa, India, Pakistan, Far East and China. Key benefits of Free zones in RAK

  • Allows 100 percent foreign ownership
  • Allows 100 percent profit and capital repatriation
  • Zero corporate or personal income taxes, export/ import duties and custom duties.
  • Minimal restrictions on labor recruitment
  • Shared synergies and services with other businesses established in RAK free zones
  • No involvement of bureaucratic red tapes
  • Modernized, state of the art business infrastructure

Currently, setting up a business in Free zones in RAK will open your business to access by 2 billion plus consumers as the zones have already graduated to top class business spot featuring hi- tech industrial facilities and state of the art, modern infrastructure. Still, investors in Free zones in RAK enjoy personalized support services aim at accelerating growth of their businesses within the first ten years after inception. In fact, RAK has transformed to become one of the most effective and best free zones to set up a business in this region. Additionally, Free zones in RAK guarantee investors a customer friendly, trouble free business investment that will assure an enterprise absolute success. Major RAK Free zones RAK FTZ- Ras Al Khaimah Free Trade Zone This zone was established in January 2000 and has over time grown to become one of the most cost effective and rapidly growing UAE free trade zones. Currently, RAK FTZ has more than 7500 companies established here. The free trade zone provides companies with support services to create a great investment environment. Providing an extremely trouble free environment, it is one of the most preferred free zones in UAE. RAKIA- RAK Investment Authority The RAK Investment Authority provides investors with state of the art, world class business infrastructure facilities. This free zone has already established businesses in various categories like warehousing, manufacturing, real estate, warehousing, construction, food processing, mining, commerce, trade and maritime services. RMFZ- RAK Media Free Zone The RAK Media Free Zone is dedicated for media establishments, audio visual production studios, television channels, houses, animation studios and computer graphics and other related companies. RAK FTZ Parks The RAK free trade zone also has five parks including the Business Park, Technology Park, Industrial Park, Academy Zone and Aviation Park. In addition, there are also representative offices located in Turkey, Germany, India as well as USA which aim at promoting investments in RAK. Free zones in RAK trade licenses For investors who are allowed to establish businesses in Free zones in RAK, there are several types of licenses they are provided with which include:

  • General Trading License
  • Industrial License
  • Real Estate License
  • Consulting & Service License
  • Commercial License

For the industrial License, activities allowed include importation and manufacturing of raw materials, processing, packaging and assembling as well as exportation of the finished products. However, before being issued with the license, the company will be required to undertake an environmental impact and feasibility study so that it can be cleared by RAKFTZ. The commercial license allows a range of activities like export, import, consolidation, distribution, warehousing or storage of items specified in the license with a maximum limit of seven product lines. The consulting and service license permits activities like provision of consultation services in finance, management, investment, labor relations, legal relations, economics, marketing and industrial development. Other critical services availed are such as logistical support like food outlets or restaurants, travel services, catering services, social and leisure activities, freight and cargo forwarding, insurance, auditing and accounting services. The general trading commercial license offers a range of product lines to invest in. Registering documents in Free zones in RAK Before establishing a company in Free zones in RAK, the investor will be required to avail certain documents to the investment authorities which include:

  • Application form
  • A brief description of the project
  • Articles of Association and Memorandum of Association
  • A passport copy of either the manager or owner
  • Registration certificate
  • Resolution ‘
  • Good standing order
  • The decision of board to set up the company/ branch/ office
  • Attorney power for appointing a representative
  • Recommendation and statement from the bank
  • Bank statement of the company for past 3 months

Services Besides the excellent location, top notch logistics services and modern facilities provided by Free zones in RAK, there are also many facilities and services available to businesses:

  • Employee Sponsorship by the RAK free zone
  • Processing online transactions for all the company’s services
  • Building maintenance and house keeping
  • Banking facilities, telecommunications and post
  • Government services: Chamber of Commerce, Customs and Immigration
  • Food court- has a wide range of cafes and top class facilities
  • Conference  room, business lounge, lecture room and business center
  • Car rental and travel agent services.

If a company wishes to establish its own factory or warehouse, Free zones in RAK offer land on lease in varying sizes depending on the investor’s requirements.

 

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