Rak uae is one of the fastest growing emirates in one of the fastest growing economies in the world, the United Arab Emirates. Renowned for its natural beauty and art de vivre, Rak uae has also gained a reputation for being a transparent, tax free, corruption free and no red tape location to do business.
RAK FZ is one of the most cost effective free zone in the region. Over 4,500 companies from 106 countries across the Middle East, Europe, North America and Asia have registered at the RAK FZ.
Rak uae has issued four types of licenses for different types of commercial and general industries, which include commercial general trading license, commercial license, industrial license, and consulting and services license.
Ras Al Khaimah FZ support accomplishment of four types of companies which are:
* Foreign Branch (International Company)
* Local Branch UAE
Rak uae has the incomparable three parks to differentiate the business. The three parks are offering the well furnished offices, warehouses and land of various sizes.
Rak free zone located at different locations across the emirate of ras al khaimah and each park caters to the specific business interests and activities of Rak FTZ investors.
A company in any free zone can be established either as an Establishment (FZE), Company (FZCO) or a branch of the foreign company. Such companies can be owned 100 percent by foreign investor with no involvement of local partner or sponsor.
Some activities may require prior approval from the competent authority depending on the products activity you require.
Free Zone Company would require UAE Company as a trade agent if needed to trade within UAE. Mainland and 5 percent custom duty shall be applicable if goods are exported to Dubai from the zone.
Outside UAE trading would be permitted to free zone Company without any agency arrangement and without any custom duty. No other duty or tax of whatsoever is applicable.
Following documents are required for a Branch of a Foreign Company:
* Memorandum of Association
* The Board of Directors Resolution: Authorizing the opening of the branch office in free zone of Dubai and appointing manager to take full charge of the branch
* Power of Attorney in favour of the Manager
* Certificate of incorporation
* Photocopy of the Directors and Manager Passport
Items (a) to (d) are to be attested by UAE Consulate or Embassy in the company home country and by the UAE Ministry of Foreign Affairs in Dubai.
Salient features are the following:
* 100 percent foreign ownership
* No corporate taxation for 50 years: Renewable for an additional 50 years
* Freedom to repatriate capital and income
* No personal income tax
* Full exemption from import duties
* No currency restrictions
* No bureaucratic red tap ism
* No recruitment problems
* Abundant energy
RAK UAE will be known as a region where businesses are welcome, successful and flourishing. RAKFTZ can undoubtedly be called the fastest growing free trade zone in the region.
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.