It has quickly proven itself to be one of the fastest growing and most cost effective free trade zones globally, making true its goals to achieve global brand recognition as a premium investment agency. It has more than 5000 companies from 106 countries around the globe.
Benefits to investors are the following:
* 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, and 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. It has 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 zone or abroad. Over the years, RAK has set up free trade zones to give a push to its exports. These are under two different authorities which is the RAK Free Zone and RAK Investment Authority.
Investor can either register the new company in the form of an FZE and FZC or simply establish a branch or representative office of their existing or parent company based within UAE or abroad.
An FZE and 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 free zone. The minimum capital requirement is AED 100000 for establishing FZE and 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, it has also created a system of three Parks.
The three parks are the following:
* Business Park
* Industrial Park
* Technology Park
They 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 park is a Business Park for trading and services 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.
Ramapati Singhania specializes in creating and managing web businesses. His
latest website on rakcompanyhelps you to incorporate offshore companies in Ras Al Khaimah in the United Arab Emirates.