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Ras Al Khaimah FTZ, the UAE

Ras Al Khaimah FTZ, the UAE

The Ras al-Khaimah Free Trade Zone (RAK FTZ) is the Government project implemented at the beginning of 2000. This UAE free trade zone has comprised more than 10 thousand companies from all over the world and is located on the territory of the Emirate with the same name. The RAK FTZ provides the appropriate infrastructure for the most various industries.

 

Ras Al Khaimah FTZ: advantages and opportunities for setting up a business

The following factors are the main advantages of the RAK FTZ, the UAE,  for the international business:

  • No prerequisite to invite a local sponsor for registration of a company, the 100% ownership of business by foreign citizens is allowed;
  • Exemption of international companies from the corporate taxation, including taxes on the income of employees;
  • No restrictions from the state on the distribution of the gained profits and the withdrawal of the investment assets outside the jurisdiction;
  • Developed and advanced transport infrastructure, international air, sea and land transport hubs;
  • Unlimited possibilities for attracting the foreign labor force, including the visa issuing for the employees of the company;
  • Relatively low cost of the administrative expenses on the maintenance of business and tariffs for communal services;
  • Maximum support of the administration and public authorities on the issues of business registration or obtaining a business license;
  • Favorable investment climate and a comfortable business surroundings.

The following competitive possibilities are available for potential investors and trading partners of the Ras Al Khaimah free trade zone, the UAE:

  • Business park for the companies engaged in the activities which require qualitative office spaces;
  • Industrial park for the companies engaged in the heavy industry;
  • Technology park for the enterprises engaged in the light industry and trading companies;
  • Aircraft fleet: maintenance and repair of the aircrafts;
  • Academic park – a specialized area for educational activities.

Ras  Al Khaimah FTZ: Business Park

The business park complex consists of five separate buildings, one of which is the administrative building, and the other four are modern business centers. Comfortable and equipped office premises of the business park are located in the heart of the business district of the Emirate of the UAE, and have the direct access to the urban and social infrastructure.

Ras Al Khaimah FTZ: Industrial Park

Geographically, the industrial park of the free zone is located adjacent to the Hulala island. The total area of the industrial park is more than 350 hectares. A vast area is designed for storage facilities, heavy industry enterprises, storage and provision of the energy resources. Residential campuses for staff of the companies, center for consulting and legal support, administration of the customs and other administrative buildings are available on the territory of the park.

Ras Al Khaimah FTZ: Technology Park

The technological area is located southward of the capital of the Emirate and is adjacent to the Dubai megalopolis. Such an advantageous neighboring provides a direct access to the Dubai International Airport Harbor and to the network of roads of the Emirate. The famous Al-Hamra village resort area is located in the immediate vicinity of the technology park. The main purpose of the technological park is the development of the light industry, projects requiring large-scale investments and the automation of the most various manufacturing processes In the UAE.

Ras Al Khaimah FTZ: Aviation Park

The specialized aviation area is located on the territory of the Ras Al Khaimah International Airport and occupies a territory over 70 thousand square meters. This Park is designed for the companies which provide the specialized services on repair, maintenance and reconstruction of the aircraft machinery.

Ras Al Khaimah FTZ: Academic Park

The territory of the academic park is divided into two sectors with relevant structures and buildings, which are designed to accommodate the educational institutions and organizations. It is important to note that the Academic Park has its representative offices abroad. In particular, there are offices in the USA, Germany, Turkey and India. Besides, the official representative offices operate on the territory of the Emirates of Abu Dhabi and Dubai.

Services for investors and entrepreneurs

All the clients and business partners of the economic zone of the Ras Al Khaimah free trade zone, the UAE, can count on the following services:

  • Organization of a virtual office or a workplace;
  • Office premises (from 15 to 150 sq. m.);
  • Storage facilities with the appropriate infrastructure and equipment;
  • land lots for the investment construction (short-term and long-term lease);
  • Accommodations for staff and employees;
  • Educational institutions, kindergartens and other socially-significant infrastructure.

State business licensing

Foreign companies and representative offices of the existing local companies must obtain the appropriate state license in order to implement the legal entrepreneurial activities on the territory of the Ras Al Khaimah free trade zone. Accordingly, the provisions of the corporate law provide the following types of business licenses in the jurisdiction of RAK FTZ:

  • Commercial business license;
  • Trading business license;
  • Industrial business license;
  • Business license for the provision of the professional consulting services.

Legal forms of the companies registered in the jurisdiction

The following legal forms of the international companies are provided in order to obtain the abovementioned business licenses:

  • Free Zone Establishment: a legal form, which provides the sole shareholder of an international company;
  • Free Zone Company: there can be from 2 to 5 shareholders or founders (both can be physical or legal entities);
  • Representation offices of the operating local or foreign companies: the obligatory requirement for this category is the not less than one year execution of the economic activity by the head office;
  • Offshore companies: offshore companies in the jurisdiction of RAK FTZ are registered via the authorized agents.