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RAKIA Free Zone Company Formation

admin — Thu, 13 May 2010 08:37:43 +0000

The cost of a RAKIA free zone Consulting License starts AED 21,500 [US$ 5,900], but not including office space. This fee goes up for different licenses. Trading and other license costs are more.

Renewal fee starts at AED 10,000 [US$ 2750].

Documents required are a passport copy, a utility bill and an original bank reference letter.

The minimum capital required is around AED 150,000 [US$ 41,100]. This will go up depending on the type of activity and the number of partners, to a maximum of AED. 300,000 [US$ 82,200]. Currently this requirement is waived on a case to case basis.

This amount is released for use once the licensing and incorporation are complete. This amount has been done away with for certain categories of activities.

If you need any employee visas you need to have a minimum 10 sq mtr office at about AED. 8,000 [US$ 2,200] per annum. This allows you to be eligible for for 4 visas. The 3 year visa costs are around AED. 4,500 [US$ 1,230].

Our fee for completing the RAKIA free zone licensing process is AED 10,000 [US$ 2720]. The cost of our processing the visas is separate. For this fee you get our absolute commitment to ensure that your work is completed at the earliest possible.

The specific activities that you need to do in your company will define the kind of license you need.

Tags:rak business,rak company,rak free zone,rak llc

Ras Al Khaimah Government

admin — Tue, 29 Dec 2009 11:11:14 +0000

Ras al khaimah government has begun placing itself on a path to join the “big three” of the UAE: Dubai, Abu Dhabi and Sharjah as an attractive investment destination, albeit on a different course.

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.

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Tags:About Us,rak business,ras al khaimah government

Rak Business

admin — Tue, 29 Dec 2009 09:21:56 +0000

RAK business mainly depending on industry. Ras Al Khaimah is one of the seven emirates forming the UAE federation.

It is the northernmost emirate, located approximately 100 kilometers north-east from Dubai to which it is connected by the dual carriage Emirates Road, a coastal highway, and by a number of small single carriage roads.

Ras Al Khaimah ranks among the smaller emirates of the UAE federation but it has always had an important position.

In the past it was a centre of traditional shipbuilding and maritime commerce, more recently as a centre of quarrying, manufacturing and tourism.

Since 2003, Ras al khaimah government has been pursuing the policy of diversification of the economy, industrialization and promotion of tourism, investment into education and public health and by investment into public utilities.

Its gas reserves are more important but revenues from gas are also of a lesser importance than in other emirates and the emirate has had to look beyond its borders to fulfill its demand for gas.

As the emirate will never be a major oil producer, RAK has instead had to concentrate on developing its industrial sector. Rak business boasts the largest rock quarry in the Gulf Region.

Cement and ceramics remain the dominant industries in RAK and officials aim to make these sections regional and global leaders in terms of production.

The Emirate is rich with the raw materials such as limestone, clay, quartz and other minerals.

Rak business is unique in the Gulf region as it has a high concentration of leading industrial units which process these natural resources and manufacture various types of cement, clinker, ceramics and other building materials.

It opened the UAE’s first cement company in the early 1970s and is now the UAE’s largest producer of cement.

The emirate formed RAK Ceramics in 1980s, which has become the world’s largest ceramics producer, and Julphar, the Gulf region’s first pharmaceuticals company.

Since the 1980, other advanced manufacturing companies have set up operations in Rak business, including companies producing glass, CD and DVD discs, air-conditioning equipment, machinery parts, metal products and others.

More traditional industries, such as fishing and agriculture, continue to play an important role in RAK’s economy.

In 1955, the first agricultural research centre in the UAE was established there, and since then, innovative methods of arid zone cultivation have made the emirate one of the leading agricultural producers in the UAE.

Ras AL Khaimah is well known for its dairy and poultry products, eggs, fodder and animal meat. In addition to this, the fertile plains in the south-east produce fruits and vegetables for the local UAE market.

Tourism is also an area of targeted development in RAK business and RAK is in the process of boosting its meetings, incentives, conferences and exhibitions (MICE) segment through several projects, the largest of which is the construction of RAK Convention and Exhibition.

The ongoing expansion of RAK International Airport will also significantly increase tourist capacity.

Alongside these ambitious development goals, the emirate is also keeping its feet on the ground and the preservation of its unique heritage remains a main priority, ensuring that visitors will be continually drawn back to this culturally rich and geographically diverse place.

The emirates location at the crossroads of Europe and Asia lends itself to attractive RAK business opportunities that should help to develop the sector further and RAK FTZA hopes to double the number of registered companies in the next three years.

Rak Free Trade Zone has created a system of four parks-Business Park, Industrial Park, Technology Park and Al Ghayl Industrial park-that offer identical advantages and benefits to investors.

The three park concept includes the Business Park, industrial park and technology park, offering offices, equipped warehouses and land facilities situated in different locations across the emirate of Ras al khaimah, each park caters to the specific business interests and activities of the Rak FTZ investors.

The growth of industrial and free zones has been impressive given the significant free zone space throughout the UAE and while the emirate’s authorities are seeking to complement rather than compete with their neighbors, it is clear industrial land availability and prices are favorable in RAK business.

Ras Al Khaimah Free Trade Zone offers numerous incentives to its companies:

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

As the youngest of all of the Free Zones in the UAE, Ras Al Khaimah Free Trade Zone has built its international reputation and infrastructure only after careful research, planning and development, resulting in the introduction of a unique, ambitious 3 Park concept that did not exist previously in the UAE or even within the region, and the provision of premier business facilities for RAK ftz investors within other Emirates.

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Tags:rak business,rak company,rak free zone

Rak Business

admin — Thu, 11 Jun 2009 12:49:30 +0000

RAK business mainly depending on industry. Ras Al Khaimah is one of the seven emirates forming the UAE federation.

It is the northernmost emirate, located approximately 100 kilometers north-east from Dubai to which it is connected by the dual-carriage Emirates Road, a coastal highway, and by a number of small single-carriage roads.

Ras Al Khaimah ranks among the smaller emirates of the UAE federation but it has always had an important position: In the past it was a centre of traditional shipbuilding and maritime commerce, more recently as a centre of quarrying, manufacturing and tourism.