Ras Al Khaimah Economic Zone Company Formation
Ras Al Khaimah Economic Zone may be a government initiative to consolidate 2 free zones: RAK Trade Zone (RAKFTZ) and RAK Investment Authority (RAKIA). Under the guiding vision of His Highness Sheikh Saud bin Saqr Al Qasimi, United Arab Emirates Supreme councillor and Ruler of Ras Al Khaimah, RAKEZ is predicated within the heart of Ras Al Khaimah. The RAK government aims at merging both the RAK free zones along side their 13,000 clients, making it the most important free port within the entire UAE.
RAK Trade Zone was established within the year 2000 and therefore the RAK Investment Authority within the year 2005, and both these free zones were contributing to the event of the emirate of Ras Al Khaimah. But taking the event to the subsequent level, both the authorities decided to merge the free zones so as to expand their economic development and formed Ras Al Khaimah Economic Zone (RAKEZ) within the year 2017.
RAKEZ helps them to penetrate local, regional and international markets by fixing a corporation within the free port region and provides a platform for local also as foreign investors to diversify their investment. Companies in RAKEZ get a strategic location and gain access to several growing markets of the center East, South Africa, Europe also as South and Central Asia.
- 100% exemption from corporate and private tax
- Companies enjoy the liberty of 100% foreign ownership and full profit repatriation
- Customs duty is exempted on re-exported goods
- Flexi-facilities available at a really low cost
- Warehouses are available at cost-effective prices. Warehouses are available during a sort of sizes, located in proximity to seaports and airports
- Unlimited space is out there to grow your industrial operations with plots of land for development
Business Licenses in RAKEZ
Permissible Legal Entities in RAK Free Port
Procedure for Business Setup in RAKEZ
For this step, Branches can guide you thru all the procedures and guidelines of the business found out in RAKEZ. so as to form sure that each one the wants are met and everyone the documents are arranged from your side, Branches will perform a check the portfolio, in accordance with the updated corporate law.
After submitting all the documents, you’ll receive a notification from the authority to manoeuvre towards the subsequent steps, i.e., payment of fees. you’ll choose anybody of the three payment options:
- Direct cash payment at the trade Zone office
- Account details mentioned on your invoice of Bank need to be transferred
- Online payment the official website
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