Ras Al Khaimah, the fourth-largest emirate in the UAE, boasts of a rapidly growing economy that primarily focuses industry, trade & commerce, tourism and real estate. Ras Al Khaimah’s business-friendly policies have ensured a brisk increase in foreign direct investments, it has also helped the emirate steadily increase its global appeal as a superior choice destination for business and leisure.
Ras Al Khaimah is well connected to most of the neighboring countries by air, sea and roads. It is ideally positioned to service and access markets like the Middle East, Africa, the Indian Subcontinent and the CIS countries.
The emirate has an excellent road network making overland trans-shipment throughout the Middle East a realistic possibility Excellent telecom system AK airport is one of the six international airports in the country. Saqr port in RAK is one of the largest bulk handling ports in the region with container handling facilities.
RAKIA is an investment behemoth which has structured itself along 8 strategic business units viz; (1) Industrial Parks (2) Education/ Technology (3) Real Estate (4) Transportation (5) Investments (6) Manufacturing & Energy (7) RAK Offshore and (8) RERA.
Key benefits of being located in AFZA
- 100% ownership of thE businesses
- tax free haven
- 100 % capital and profit repatriation
- easy availability of labour
- easy licensing procedures
- excellent port facilities
- No foreign exchange controls, trade barriers and quotas.
Know about company formation in the free zone of Ras AI Khaimah
Ras AI Khaimah is located in the UAE heart and it is the economic zone. It is also known to be the industrial hub and powerhouse business offering customizable solutions for more than 50 sectors. Ras Al Khaimah is government established and there are authority companies to ensure good support to company formation in Ras Al Khaimah free zone.
Why RAK is the best?
The authority companies support all the startups, whether it is SMEs, entrepreneurs, and industrialists. These advisory companies are experts and help in acquiring licenses and offer first-class services in acquiring customizable facilities and visa facilitation. They ensure there is full compliance with the rules and regulations of the UAE.
RAK free trade zone is the best UAE free zones right from the year 2000. It was made to oversee the RAK Investment Authority and RAK FTZ (Free Trade Zone). The main aim was to handle clients properly.
RAK Free Trade Zone is awarded the “Best Emerging Free Zone” consecutively for the second time. It is a world-class business hub and has hi-tech facilities.
Procedure and Requirements
Ras Al Khaimah free zone company formation procedure and requirements are:
- Tradename reservation proof
- Initial activities approval proof
- Shareholders passport copies
- CV and passport copy of the manager
- Each shareholder personal information sheet and also of the manager
- Lease agreement with physical address mandatory for your office or business in the UAE.
- The rent is USD 25 to 45/sq.ft in the free zone area.
- Attested and notarized power of attorney appointing as your legal representative
- There may be activities requiring pre-approval authority as third-party, professional fees and additional cost as applicable.
- Additional documents as per the authority’s requirements.
The procedure of processing your RAKIA Free Zone company formation will range from 2 to 4 weeks.
RAK FTZ Business Setup Benefits
Ras Al Khaimah is around for over two decades. It is helping continuously the UAE economy in association with other establishments in the free zone. Investors are also finding this place suitable to conduct business and are happy with the Ras Al Khaimah free zone.
The reason to look forward to company formation in RAK FTZ is:
- Efficient and fast business setup
- Low-cost business setup
- UAE fast track visa issuance
- Ease of business and lots of conveniences
- Several real estate facilities to suit each business needs
- Tax exemption 100%’
- Foreign ownership 100% in free zone companies
- Repatriation of profits and capital to 100%