Ras Al Khaimah (RAK) Free Zone
RAK company formation services
As the youngest of all of the Free Zones in the UAE, Ras Al Khaimah Free Trade Zone has built its international reputation and infrastructure only after careful research, planning and development, resulting in the introduction of a unique, ambitious 3 Park concept that did not exist previously in the UAE or even within the region, and the provision of premier business facilities for RAK FTZ investors within other Emirates.
As more and more Free Zones appear in the UAE and throughout the region, Ras Al Khaimah Free Trade Zone will continue with its policy of sourcing and attracting environmentally friendly, quality investors in the Service, Manufacturing and Industrial sectors, with high emphasis placed on attracting investors from the Technology industry. RAK FTZ investors can expect an easy and rapid licensing procedure every step of the way, and every investor is sure of an ongoing, unrivalled marketing support service.
All the three Parks are undergoing major expansion on a regular basis. The next few years will bring targeted expansion and development within RAK FTZ, supporting individual investor needs within each of the 3 Parks. The further development of superior business facilities in other Emirates will be done. It will ensure that RAK FTZ investors are presented with a total marketing solution and everything they will ever need to succeed in business with Ras Al Khaimah Free Trade Zone.
General information
Political structure
Prior to 1971 each of the seven members emirates of the UAE (Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaima, Sharjah and Umm Al Quwain), previously known as the Trucial States, had its own existing institutions of government. The Rulers agreed to draw up a provisional Constitution (“the Constitution”) which provided for the establishment of the Supreme Council of the Rulers of all the Emirates as the foremost authority in the Federation and a Council of Ministers as the Executive Branch of the Federation. Federal Ministries of Foreign Affairs, Defence, Justice, Public Health, Communications, Information Interior, Finance and Industry, Economy and commerce, Education, Public Works, Agriculture, Labour and Social Affairs and Planning were established. As a Muslim country, one of the fundamental principles in the Constitution provides that Islamic Law (Sharia) is the main source for the legislation in the UAE. The main aim of the UAE Government Strategy is to ensure sustainable development and a high quality of life for all UAE Nationals.
Population
RAK is one of the Emirates of the seven independent emirates, the current population is approximately 250,000 but this is expected to raise to 400,000 by 2017. Over 50% of the population are expatriates.
Time zone
The UAE is 4 hours ahead of GMT (+4 GMT).
Infrastructure and Economy
The UAE is one of the wealthiest countries in the world with a GDP of US $103 billion (2004). Dubai’s economy grew by approximately 16% in 2005 and is acknowledged as one of the fastest growing economies in the world. The UAE has the third largest proven oil reserves, however RAK has broadened its economic activity to include an industrial platform, real estate, trade and manufacturing. In addition Tourism is increasing rapidly with approximately 10 million tourists expected in 2007. The emirate of Ras Al Khaimah is strategically located between Africa and the Middle East and between the Far East and Europe, making it a gateway to over 1.5 billion consumers located in countries surrounding the Red Sea and the Gulf. Its infrastructure is of the highest standards with access to more than 170 shipping lines and approximately 86 airlines connecting to over 100 cities worldwide. The strong shipping and transportation sector is composed of most of the leading regional and international freight forwarders, insurers and shipping agents.
Most Relevant
Key Features of RAK Free Zone (RAKEZ)
100% Foreign Ownership
As in other UAE free zones, businesses set up in RAKEZ can be 100% foreign owned, with no requirement for a local partner or sponsor.
Zero Corporate and Income Tax
RAKEZ offers zero corporate tax and zero personal income tax, similar to other free zones in the UAE. This allows businesses to maximize profits while benefiting from a tax-free environment.
Repatriation of Profits and Capital
Companies in RAKEZ can repatriate 100% of their profits and capital with no restrictions. This ensures that foreign investors can transfer their earnings back to their home countries freely.
Cost-Effective Setup:
RAKEZ is known for its affordable business setup packages, making it one of the more cost-effective free zones in the UAE. Its competitive pricing structure attracts entrepreneurs and startups looking for lower overhead costs.
Strategic Location:
Ras Al Khaimah is strategically located, providing easy access to markets in the Middle East, Africa, Asia, and Europe. The emirate’s proximity to Dubai (just 45 minutes away) and other major UAE cities makes it a viable choice for businesses looking to operate within and outside the UAE.
Wide Range of Facilities:
RAKEZ offers a variety of facilities for businesses, including:
– Flexi-desk offices: Ideal for startups or freelancers who need minimal office space.
– Serviced offices: Fully equipped office spaces with administrative support.
– Warehouses: For industrial and logistics companies.
– Land for development: Available for large-scale industrial and manufacturing projects.
Businesses can choose the type of facility that best suits their needs and scale as they grow.
Free Zone and Non-Free Zone Options:
RAKEZ offers both free zone and non-free zone licenses, giving businesses flexibility in choosing the type of setup they want. Free zone licenses are more suited for international businesses, while non-free zone licenses are suitable for companies looking to operate in the UAE mainland.
Ease of Incorporation:
Setting up a business in RAKEZ is straightforward, with a streamlined business registration process. The free zone offers business setup consultants who assist with company formation, documentation, and licensing procedures.
Entrepreneurs can complete the registration process online, with minimal paperwork and quick turnaround times.
Visa Services:
RAKEZ provides residency visas for shareholders, employees, and dependents. Companies can apply for employment visas for their staff, and the number of visas available depends on the size of the office or facility rented by the business.
Customizable Business Solutions:
Businesses in RAKEZ can benefit from tailored solutions depending on their industry and business model. The free zone is highly adaptable and offers packages suited to various sectors, such as logistics, trading, consulting, IT, and manufacturing.
No Customs Duty on Imports/Exports:
Companies operating in RAKEZ do not pay customs duty on imports and exports within the free zone, which provides a significant advantage for businesses engaged in international trade.
Key Benefits of RAKEZ
Business-Friendly Environment
RAKEZ is designed to cater to businesses of all sizes, from startups to large multinational corporations, offering an entrepreneur-friendly environment.
Access to Global Markets
Companies in RAKEZ benefit from Ras Al Khaimah’s logistics infrastructure, including its seaports, proximity to UAE’s major airports, and the ability to access international markets.
Innovative Ecosystem
The free zone fosters an innovative and collaborative environment for businesses, particularly in sectors like manufacturing, logistics, services, and media.
Why Choose RAK Free Zone (RAKEZ)
RAKEZ offers a cost-effective, tax-efficient, and strategically located environment for businesses of all sizes. With a wide range of business solutions, customizable facilities, and flexible corporate structures, it is a compelling choice for startups, SMEs, and multinational corporations looking to establish a presence in the UAE. The combination of 100% foreign ownership, tax advantages, a streamlined setup process, and a business-friendly regulatory framework makes RAKEZ one of the most attractive free zones in the UAE for offshore and international business operations.
Register your Company today!
Our Business Development Team is ready to guide and assist you to discuss all options you have and to provide you with all the support you need to enable you to take the right decision facing your specific needs!
All our Consultancy and Advisory services are completely FREE!
Packages and Prices!
Inclusions
Year 1 Incorporation and service fees.
Optional Services (Bank Account opening, Nominee services, Certification of documents, amongst others).
Annual Renewal service fees for year 2 and subsequent years, to keep your company in good standing and full Compliant at all times.
Our company licensing services
— What we do and do not do
Our company is EXCLUSIVELY engaged in assisting worldwide clients, either individuals or corporate entities, to get duly and properly licensed with local Regulators and Financial Authorities to get respective official licenses to legally carry out their cryptocurrency or financial related business activities.
TBA & Associates Tax Business Advisors does not provide or carry out any sort of Cryptocurrency or Financial services!
Disclaimer: While TBA & Associates strives to make the information on this website as timely and accurate as possible, the information itself is for reference purposes only. You should not substitute the information provided in this article for competent legal advice. Feel free to contact TBA Customer Services for advice on your specific cases.
