Ras Al Khaimah Economic Zone (RAKEZ) has been the primary choice for close to 14,000 businesses from around the world. There are around 1000 companies from the UK, 3000 from India, and the rest from over 100 countries, that have established their offices in RAKEZ.
Here are the 5 main reasons why investors choose a RAK Economic Zone company formation over others:
1. Rising popularity
With an amazing growth trajectory, Ras Al Khaimah Economic Zone has been making news in business circles. What else could be a better landmark for business than one that is always in the news? RAKEZ has bagged so many prestigious awards and recognition that makes it very popular with global entrepreneurs. Few of these awards are:
- fDi’s Global Free Zones of the Year Award 2018 for slashing Red Tape,
- The UAE Prime Minister’s 4-star rating for delivering seamless service,
- The Legal 500’s GC Powerlist inclusion
After all, when it comes to business, the popularity of the place makes it a sought-after destination.
2. Seaport-Airport facility
A port is a fundamental requirement for any industry to thrive, be it manufacturing or distribution. Having a port located closer to your business enables easy and fast shipment of goods. Operating in RAKEZ means you gain access to Saqr Port, the largest bulk-cargo-handling port in the Middle East.
Another benefit RAKEZ offers is that it also provides convenient air access to the global markets. With the RAK International Airport, target markets like the Middle East and North Africa, Europe and Asia remain closer to reach. Located at a 60-min-drive away from Dubai and the other five emirates, this airport offers all kinds of freight services.
3. Customised warehouse at your disposal
RAKEZ’s dynamic warehousing solutions start from 150 sqm. These solutions are available to all type of license holders on lease and are customisable to fit all business needs. These solutions are available to all type of license holders on lease and are customisable to fit business needs. RAKEZ warehouses have heat-insulated doors and roofs, adequate area for loading and unloading of goods, onsite-labour accommodation, office facility inside etc.
4. Cost-effective financing availability
Most businesses prefer RAKEZ on account of its low cost of operation. In addition to being UAE’s most economically viable free zone as per 2017’s fDi’s Global Free Zones of the Year Award, RAKEZ provides up to 40% of investment to businesses looking to start up in the region. To facilitate this, RAKEZ has also signed an MOU with RAK BANK, wherein they promise easy availability of financial services for businesses within their premises.
5. The free zone advantage
In addition to offshore and non-free zones, RAKEZ also permits company formation in their free zones offering the following benefits:
- 100% capital and profit repatriation
- 100% ownership
- Flexi-desk options
- Low-cost storage facility
- Fast licensing
- Easy operability
- 0% tax – corporate and personal
- Low-cost leasing facility
Location is not only a competitive advantage but also a profitability factor. Finding a free zone like RAKEZ that promotes all type of businesses and offers everything based on the business requirement means half the battle won.
Is RAKEZ the best startup ecosystem for you? Get in touch with the registered agents at Worldwide Formations before deciding on the location for your business.