Ras Al Khaimah Free Trade Zone

Business Setup in Ras Al Khaimah Free Trade Zone

Formed in 2000, the Ras Al Khaimah Free Trade Zone (RAK FTZ) now has over 8600 registered companies from 100 countries. The free zone has a reputation as a preferred free zone business setup location because of its customer-focused approach to company formation and assistance with developing clients’ businesses. As a result, a wide range of companies from over 50 industries have chosen RAK FTZ as their site for company formation in UAE.

Ras Al Khaimah and the UAE

The northern emirate is becoming an increasingly popular destination for businesses, residents, and tourists within the region and globally, thanks to its stunning mountain ranges, beautiful beaches, and year-round sunshine. The emirate also offers a more relaxed pace of life compared to Dubai and Abu Dhabi.

Ras Al Khaimah has the highest level of industrialization within the country, with 26% of the emirate’s GDP attributed to manufacturing. The emirate’s low overall oil and gas reserves required the emirate to focus on developing a diverse economy. As a result, RAK FTZ offers free zone business setup for investors at more affordable rates than many other free zones. The average cost of doing business in Ras Al Khaimah is lower as well, at a rate of approximately 25% to 50% lower when compared with the rest of the UAE.

RAK FTZ

RAK FTZ has significant advantages for international business company formation. The free zone offers 0% corporation and personal tax, full foreign ownership, and no restrictions on currency. Registered companies can also use the free zone’s Mazeed Services, which provide RAK FTZ businesses with translation services, recruitment assistance, procurement support, design and printing services, as well as multiple other benefits. RAK FTZ also offers International Registry Service for companies that require registration in the UAE for tax purposes, but that do not plan to conduct any business within the country. This service provides offshore business setup options for companies seeking to minimise tax liability and maximise asset protection.

Ras Al Khaimah has the highest level of industrialization within the country, with 26% of the emirate’s GDP attributed to manufacturing. The emirate’s low overall oil and gas reserves required the emirate to focus on developing a diverse economy. As a result, RAK FTZ offers free zone business setup for investors at more affordable rates than many other free zones. The average cost of doing business in Ras Al Khaimah is lower as well, at a rate of approximately 25% to 50% lower when compared with the rest of the UAE.

RAK FTZ Parks

RAK FTZ is divided into four ‘parks’ with each designated for particular business sectors.

1. Business Park

The Business Park offers multiple office options for companies of all sizes. Flexi facilities have shared desks for start-ups and SMEs that don’t require a permanent office space. Standard and executive offices are fully furnished office spaces with additional corporate business center and office management services available. Cleaning services and parking are also available on site. For companies that require customised offices, shell-and-core spaces provide the perfect option for creating the right corporate space from scratch.

2. Technology Park

This area is located just south of the city centre and is easily accessible by car and from Ras Al Khaimah International Airport. Business sectors housed in Technology Park include light industry and automated manufacturing.

3. Industrial Park

With a wide range of warehouses available, Industrial Park hosts multiple companies focused on heavy industry. The site includes customs offices and other government services for streamlined and efficient processing. The park also offers affordable employee accommodation for registered companies.

4. Academic Zone

The Academic Zone has 11 Universities, 17 educational consultancies, and 12 training institutes with approximately 2,734 students. This zone is helping secure RAK FTZ’s position as a key location for free zone company formation amongst leading high quality educational services in the region.

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