RAK Free Zone: The Fastest Growing Free Trade Zones Globally
RAK Free Zone has quickly proven itself to be one of the fastest growing and most cost-effective free trade zones globally, making true its goals to achieve global brand recognition as a premium investment agency.
RAK Free Zone: This is second in our top ten questions that clients don’t ask but should have answers to. The second question deals with Speed Of Incorporation. Please watch this video for more information about RAK Free Zone.
Established in the year 2000, it has more than 5000 companies from 106 countries around the globe.
RAK Free Zone offers a string of benefits to the investors:
- 100% foreign ownership of the enterprise
- 100% export and import tax exemption
- 100% repatriation of capital and profits
- No corporate for 15 years , renewable for an additional 15 years
- No personal income taxes
- Transparent laws and regulations
Other benefits to the investors include long term renewable lease, strategic location with access to over 1.2 billion consumers, transparent laws and regulations, promotion centers in Dubai and Abu Dhabi, simple and fast application procedures, state of art communication facilities, excellent seaport and international airport facilities, abundant energy supply, and marketing support facilities.
Rak free zone is a world-class business hub and a vehicle for industrial growth and development. The RAK free zone, with its cutting-edge technology and keen customer focus, offers on-demand and custom-built support services to investors in a cost-effective and flexible environment.
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RAK Free Zone also offers a range of unique services, which include the legal, human resources and marketing assistance.
An investor is entitled 100% ownership of his company as long as company conducts business within the free zone or abroad. Over the years, RAK has set up free trade zones to give a push to its exports. These free zones are under two different authorities – RAK Free Trade Zone and RAK Investment Authority (RAKIA).
All types of businesses can be set up within RAK free zone. An independent free zone authority governs the freezone and is the agency responsible for issuing free zone operating license and assisting companies in establishing their businesses in the free zone.
Investor can either register the new company in the form of free zone establishment (FZE), free zone company (FZC) or simply establish a branch or representative office of their existing or parent company based within uae or abroad. An FZE/FZC is a body corporate with a limited company governed by the rules and regulations of the free zone in which it is established.
There is no minimum capital requirement for establishing a branch in Rak free zone. The minimum capital requirement is AED 100000 for establishing FZE/FZC. The procedures for establishing are very simple and can be completed in a short time, especially if there are no any environmental issues involved.
By segregating business activities according to function, operational requirements, and the needs of the surrounding communities, Rak free zone has created a system of three Free Zone Parks.
The three Parks: Technology Park, Industrial Park and Business Park are spread over three different locations within the Emirate. The 71 hectare RAKFTZ Technology Park is located at the Southern corner of the Emirate.
The first RAK free zone park is a Business Park for trading and service which has fully-equipped offices. In addition, the RAK Exhibition Centre, a five star hotel and a shopping and entertainment complex are all within proximity.
The second section houses the Industrial Park, which was designed for heavy industrial production and warehousing of raw materials or finished products. Plot sizes are provided to suit individual client requirements and are fully serviced with water, electricity and telecommunications.
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The third is a Technology Park located in a rapidly expanding area devoted to automated manufacturing and capital-intensive quality lifestyle projects such as electronics and apparel. Moving forward, the Rak free zone is expected to see more and more companies joining in.
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