Ras Al Khaimah Free Trade Zone (RAK FTZ) was established in 2000 and has recorded tremendous growth with remarkable consistency over the years. The place offers a rich variety of cost-effective and very attractive business supporting facilities in the most extraordinary fashion, and that is why it has 8,000 companies operating in it. RAK FTZ is one of the most dynamic business places in the UAE with a well developed and constantly improving business infrastructure.
Ras Al Khaimah’s strategic location makes it an ideal place for starting up a business there as it is in close proximity to emerging economies from all sides. It gives businesses easy access to a thriving port facility and an international airport.
Ras Al Khaimah Free Trade Zone Parks
There are four Free Trade Zone Parks in RAK.
- Business Park
- Industrial Park
- Technology Park
- Academic zone
New Company (FZE/FZC)
For new company incorporations, an FZE/FZC application is to be submitted and the minimum capital applicable for land / warehouses is deposited in a UAE Bank for a temporary period of 1-2 days. After Signing the agreement and payments license and certificate of Incorporation will be issued.
Ras Al Khaimah Business Park
It is located in the middle of Ras Al Khaimah. It is a vibrant business centre which is fully equipped with all the right things needed to start up a business in a hassle-free manner. Businesses are showered with a bewitching variety of options available to them which are best suited to their requirements and operational aspirations.
Ras Al Khaimah Industrial Park
Located near the coastal road, it offers a rich industrial park well-suited to handle heavy industrial units and large warehouses. The park offers on-site accommodation for company labour, business supporting infrastructure, unending supply of energy, global connectivity, and custom-made offices.
Ras Al Khaimah Technology Park
Located on the southern side of Ras Al Khaimah’s main city area, it has amazing growth in recent years on the back of light industrial units and automated manufacturing plants.
Ras Al Khaimah Academic Zone
Many important educational facilities are established in Ras Al Khaimah Academic Zone which offer a huge variety of educational programs to people living in the UAE.
Benefits of Company Formation in Ras Al Khaimah Free Trade Zone
- Lower cost of doing business
- 100% Foreign ownership
- No taxation on companies and employees
- Allowed to use all forms of currencies
- Corporate tax is non-existent
- Lax and flexible working hours
- Affordable standard of living
- Greater transparency in laws for businesses
- 8,000 plus companies from over 100 countries
- Tremendous logistical and telecommunication infrastructure
- Growth opportunities for tourism business
- A wide variety of opportunities for business development
- Strategically located to suit business needs
- Access to airport and sea lanes
Types of Legal Entities to set up business in Ras Al Khaimah Free Trade Zone (RAK FTZ)
Investors or companies looking to set up operations in RAK FTZ have four of these options available to them.
- RAK Free Zone Establishment: a sole proprietorship
- RAK Free Zone Company: A partnership of two or more partners.
- RAK FTZ Local Branch: UAE-based company can establish a business branch in RAK FTZ but that company must be doing business for more than a year.
- RAK FTZ Foreign Branch: A foreign company is also allowed to set up a business branch in RAK FTZ.
Types of Trade Licenses Available in Ras Al Khaimah Free Trade Zone
Here is the list of licenses available to commercial aspirants.
- RAK FTZ Consulting & Service License and Real Estate License
- RAK FTZ Commercial License
- RAK FTZ Industrial License
- RAK FTZ General Trading License
RAK FTZ Consulting & Service License
This license allows a company or individual to give consultancy services in fields such as real estate, finance, litigation, economics, management, business operations, labour and labour laws, industrial and business development. Also applicable for food & restaurants, catering services, tourism, leisure & similar activities, insurance, cargo & freight services, and accounting services.
RAK FTZ Commercial License
The commercial license allows the holder to get engaged in activities such as import & exports, sales & distribution, storing & warehousing, etc. A maximum of two product lines can be started under this license.
RAK FTZ Industrial License
The holder of this license is allowed to set up a manufacturing unit, import material, do assembling & packaging, and export the final products. RAK FTZ is careful about the environmental impact of industrial units that why companies have to undergo a feasibility and environmental impact study conducted by RAK FTZ.
RAK FTZ Commercial – General Trading License
A number of activities can be performed under this license which include import and export, warehousing and distribution.
Facilities of Business Set up in Ras Al Khaimah Free Trade Zone
- Standard Office
- Executive Office
- Shell and Core Office
- Flexi Desk/Office
- Industrial Land