Ras Al Khaimah Economic Zone is one of the economical places in UAE established in 2000. Ras Al Khaimah offers infrastructural facilities at the lower rates in UAE. The Middle East free zone is committed to its professionalism, integrity and the service community. RAK Economic Zone is popular both locally and internationally. It comprises more than 7000 registered companies as its members from more than 100 countries and over 2000 companies registered in 2011 alone which was 16% higher than 2010.
Ras Al Khaimah Economic Zone provides an easy access to the emerging and established markets in Africa, South Asia, Europe and the Middle East. As a UAE emirate, it offers the right investment environment due to its diversified economy and stabilized political. To attract the new business and foreign investments, taxes, quotas, tariffs are eliminated in the RAK. It is possible to be benefited from over 40 double taxation agreements and receive an investor residency or visa.
The RAK economic zone offers many benefits such as
- Makes the registration procedure fast and simple
- Avail 100% foreign ownership
- Provides 100% income and corporate tax exemption
- Yields 100% capital and profit repatriation
- Speeds up the procedure to issue UAE residencies and visas
- Recruiting labor involves with less restrictions
- Avail state-of-art infrastructure
- There is no currency restriction
- Nil customs duty
- Excellent airport and seaport availability
- The laws and regulations are transparent
- Avail furnished offices and warehouses
- Provides variety of real estate facilities to meet out individual start up needs
- Being in the UAE, RAK Zone offers an easily accessible to markets throughout North Africa, South and Central Asia, Europe, and Middle East too
- Ras Al Khaimah Economic Trade Zone provides tailor-made business solutions to meet out the clients’ requirement. It contains an expert team of Client Relations professionals which facilitates with fast-track issuance of licenses and visas. Recruitment, marketing, documentation, attestation, procurement services are also provided at its Mazeed services.
Ras Al Khaimah Economic Zone & Business licensing
To set up an entity and accomplish business, either an individual or the corporate should be registered in RAKEZ in any of the following official forms:
- Branch of a Local Company
- Branch of a Foreign Company
- Free Zone Company (FZC) – entity with 2 to 5 shareholders
- Free Zone Establishment (FZE) – entity with one shareholder
RAKEZ & Business License Types
To set up a business the following license options are issued by the RAKEZ
General Trading License: Permits the companies to store, distribute and import all goods as per the rules and regulations of RAKEZ
Commercial Trade License: Allows products trading specified in the license subject to the RAKEZ regulations
Service License: Enables the registered entity to carry out specific services like business consultants, lawyers, and accounting firms.
Industrial License: Permits the raw materials import, carries out the specific products manufacture, assembling, exporting, and packaging the finished goods to any country.
There are some special areas where the foreign investors can set up a company in RAK Economic zones and they are the Business Park, the Industrial Park, the Academic Zone and the Technology Park.
Every company operates within the RAK Economic Zone requires a business license for consulting, trading, commercial and industrial activities.