Higher rents for residential and office space, increasing traffic problems and generally more stressful working environments in the bigger emirates are all factors why living and doing business in RAK is becoming more appealing.

The UAE is a federation of seven sheikhdoms: Abu Dhabi, Ajman, Dubai, Sharjah, Fujairah, Umm Al-Quwain and Ras Al Khaimah.

These sheikdoms signed the General Maritime Treaty with the UK in 1853.

Ras Al Khaimah joined the UAE federation in 1972 as the last of the seven emirates.

The ruler of the emirate, Sheikh Saqr bin Mohammed Al Qasimi, has been in power since 1948.

Since 2002, most of the day-to-day political and economic operations are carried out by the crown prince and deputy ruler, Sheikh Saud bin Saqr Al Qasimi.

In 2005, the Ras al Khaimah government announced a new policy of political liberalization. At the end of 2006, elections were held for the half of the seats of Federal National Council, while the other half will continue to be appointed by the government.

Various local government departments have been established to execute numerous functions.

Ras al Khaimah local government departments:

• Emiri Court
• Law Court
• Land Department
• Municipality Department
• Public Works and Services Department
• Economic Department
• General Accounts Department
• Ras Al Khaimah Oil and Gas Commission
• Ports and Customs Department
• Civil Aviation Department
• Information and Tourism Department
• Ras Al Khaimah Broadcasting Corporation
• Antiques and Museums Department

Having learned from the experiences of those other emirates that had started earlier, RAK’s political leaders are better able to formulate a successful development plan.

As a member of the UAE, Ras al khaimah government has access to excellent security forces, backed by the US and increasingly by Russia.

Liberalization of the ras al khaimah government continued in 2007 as well, following the election of the country’s first legislature.

While its powers are still limited, the UAE is garnering recognition worldwide for its efforts, with RAK in particular gaining notoriety through the progress it has achieved in its enfranchisement of women.

The emirate appointed nine women to the Federal National Council in February 2007, far surpassing other governments in the region. RAK has achieved equal literacy rates for both sexes in the UAE and currently counts more women enrolled in universities than men.

The Ras Al Khaimah Government established a real estate development company “RAK Properties” as a Public Joint Stock Company to oversee the development of real estate and leisure sectors in the Emirate of Ras Al Khaimah in particular, as well as other Emirates in the UAE in general.

Ras al khaimah established Rak free zone in 2000 is one of the fastest growing and most cost effective free trade zones in the uae and today is home to some 5000 companies.

Rak free zone has numerous features. Some of them are the following:

• 100% foreign ownership
• 100% income and corporate tax exemption
• 100% Capital & Profit repatriation
• 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 the art communication facilities
• Excellent Sea port and International Air port facilities
• Easy international Access
• Abundant energy supply

Etisalat has linked the Ras Al Khaimah’s eGovernment authority with nine local government departments, including the RAK Traffic Police Department, through a high-speed data cable network.

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. Moving forward, the Rak free zone is expected to see more and more companies joining in.

Go back to home page.

Related posts

• Ras al khaimah government (5)
• RAKIA Free Zone Company Formation (1)
• Rak Free Zone (0)
• Rak Business (1)
• Rak Business (1)
• Incorporation offshore (20)

Established in the year 2000, it has more than 5000 companies from 106 countries around the globe. It offers a string of benefits to the investors, viz

• 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
• 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.

The 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.

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.

Go back to home page.

Related posts

• Uae free zones (3)
• Rak free zone (9)
• UAE Free Zones (0)
• Ras al khaimah government (5)
• Ras Al Khaimah Government (0)
• Ras al khaimah free zone (8)
• Ras Al Khaimah Free Zone (0)