RAK UAE: One Of The Fastest Growing Emirates

RAK UAE is one of the fastest growing emirates in one of the fastest growing economies in the world, the United Arab Emirates. Renowned for its natural beauty and art de vivre, Rak uae has also gained a reputation for being a transparent, tax free, corruption-free and no red tape location to do business.

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RAK Free Zone is one of the most cost-effective free zone in the region. Most importantly, it offers a trouble free, customer-friendly environment, which is crucial for the success of any enterprise.

The zone has created a name for itself around the world, following and extensive marketing and awareness campaign. Over 4,500 companies from 106 countries across the Middle East, Europe, North America and Asia-have registered at the RAK Free Zone.

RAK UAE has issued four types of licenses for different types of commercial and general industries, which include:

1. Commercial general trading license
2. Commercial license
3. Industrial license
4. Consulting and services license

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A company or an individual wishing to operate a business at RAK FTZ can be registered at the zone in one of the following four legal forms:

A branch of an existing company

• Foreign branch
• Local branch

A new establishment

• Free Zone Company
• Free Zone Establishment

RAK UAE has the incomparable three parks to differentiate the business.

The three parks are offering the well-furnished offices, warehouses and land of various sizes, Rak free zone located at different locations across the emirate of ras al khaimah free zone; each park caters to the specific business interests and activities of Rak Free Trade Zone investors.

A company in any free zone can be established either as a free zone establishment (FZE), Free Zone Company (FZCO) or a branch of the foreign company. Such companies can be owned 100% by foreign investor with no involvement of local partner or sponsor.

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Some activities may require prior approval from the competent authority depending on the products activity you require. Rak uae has a long industrial history and in recent years healthy sector activity has accounted for a substantial amount of economic growth.

Free Zone Company would require U.A.E Company as a trade agent if needed to trade within U.A.E. Mainland and 5% custom duty shall be applicable if goods are exported to Dubai from the Free Zone.

Outside U.A.E. trading would be permitted to Free Zone Company without any agency arrangement and without any custom duty. No other duty or tax of whatsoever is applicable.

Following Documents Are Required For A Branch Of A Foreign Company to establish in free zone:

• Memorandum of Association
• The Board of Directors’ Resolution authorizing the opening of the branch office in free zone of Dubai and appointing manager to take full charge of the branch
• Power of Attorney in favour of the Manager
• Certificate of Incorporation
• Photocopy of the Directors’ and Manager’s passport

RAK UAE offers the strategic location, one of advantages along with 100 per cent company ownership, world class infrastructure, government and convenience services, access to 1.2 billion consumers, provisions of business, marketing and support services at Ras al Khaimah Free zone.

RAK UAE Free Zone Salient features are the following:

• 100% foreign ownership
• No corporate taxation for 50 years; renewable for an additional 50 years
• Freedom to repatriate capital and income
• No personal income tax
• Full exemption from import duties
• No currency restrictions
• No bureaucratic red-tapism
• No recruitment problems
• Abundant energy

RAK UAE will be known as a region where businesses are welcome, successful and flourishing.

Please fill in the form on the right side for more information about your own offshore company and offshore bank account.

RAKFTZ can undoubtedly be called the fastest growing Free Trade Zone in RAK UAE.

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