Ras Al Khaimah (RAK) is one of the seven emirates of the United Arab Emirates (UAE). It is well connected to Dubai through the Sheikh Mohammed Bin Zayed Road and the Emirates Road. Due to its strategic geographical location, RAK has always been a centre of traditional shipbuilding and trade.
Ras Al Khaimah is a pleasant mix of landscapes from pristine coastlines, vast deserts, lovely wadis and oases. From the start of the century, the Government of Ras Al Khaimah has concentrated in education and public utilities with an open economic diversification policy that promotes industrialisation and tourism in the emirate. As a result, the emirate has become a major investment hub and one of the top tourist destinations in the Gulf region. It has been ranked sixth on the fDi magazine’s list of Top 20 Middle Eastern cities and first on the list of Cities Most Attractive for Foreign Investment, even before Abu Dhabi and Dubai.
RAK Free Zone
The RAK Free zone is the most successful venture made by the Government of Ras Al Khaimah and has made the emirate a business and investment hub in the Middle East. Founded in the year 2000, the Ras Al Khaimah Free Trade Zone (RAKFTZ), is one of the fastest growing free zones in the UAE with over 8000 registered companies.
The Benefits of RAK Free Zone
- 100% exemption from tax
- Full ownership of company
- Total capital and profit repatriation
- Clear and transparent laws and regulations
- Proximity to Dubai
- Sea & air accessibility from across the globe
- Modern communication infrastructure
- Easy visa processing for employees
- Abundant supply of energy
- Single window clearance and approval
Types of Business Licenses Issued at RAK FTZ
Companies can import raw materials, process, manufacture, assemble, package and export the finished products. Feasibility, environmental impact studies and clearance from RAKFTZ are required.
This license allows companies to trade and warehouse different product lines. Distribution to UAE markets can be done through registered local distributors. Activities allowed: Import, export, distribution, consolidation, storage or warehousing of items specified on the License.
General Trading License
This type of business license must be obtained by a company planning to engage in the exportation, importation and warehousing of several product lines. Distribution to local UAE markets can be done through locally registered distributors. Certain products e.g. alcohol, tobacco, fire arms and others are banned.
Consulting & Service License
This type of business license is issued to companies wishing to engage in any type of marketing, management, or business consultancy. Activities allowed: consulting services in management, finance, investment, legal issues, labour relations, economics, industrial development, marketing, and related subjects. Other services include restaurants or food outlets, catering services, travel agencies, leisure and social activities, insurance, cargo & freight forwarding, accounting, and auditing services.
Company Registration in RAK Free Zone
If you would like to incorporate a free zone or offshore company in RAK in a fast and cost-efficient manner, it would be good idea to get in touch with a registered and authorized company registration agent. They would be able to give you advice on which corporate structure is suitable for your requirements and help you draft documents and file applications with the concerned authorities.