Ras Al Khaimah (RAK) Free Trade Zone is one of the most attractive destinations for doing business in the United Arab Emirates (UAE) and it is situated close to Dubai, another major location for foreign investors interested in opening companies in a business-friendly environment in the Middle East.
Table of Contents
RAK – “Best Emerging Free Zone”
RAK was established in 2000 and it has become the location of over 8,000 companies with shareholders all around the world. They are attracted by the major advantages offered by this free zone that offers a 100% foreign ownership for companies established there, that can benefit from a tax-free and friendly business environment, fast incorporation procedures, a strategic location with access to important markets in Europe, Asia, Middle East and North Africa, full repatriation of capital and profits and full tax exemption.
RAK was considered “best emerging free zone” for three years in a row at Middle East Logistics Awards.
Developing industries in RAK
In RAK, foreign investors can find business, industrial and technology parks and an academic zone for educational entities.
RAK Free Zone is part of the emirate Ras Al Khaimah, that together with other six emirates forms The United Arab Emirates (UAE). This country offers a stable and friendly business environment, offering important business opportunities for foreign investors especially in the free zones, where they are provided with important facilities. The authorities in RAK emirate encourage the foreign investors to come and open different types of businesses there and help the region develop in many economic fields, not only based on the businesses that imply oil and gas.
In this region, there are important resources of limestone, rocks and clay that can help the development of construction and manufacturing fields. RAK has one of the highest levels of industrialization in the UAE and hosts the largest producer of ceramic tiles in the world, a company that is the largest pharmaceutical manufacturer in the Middle East area, the largest armored car manufacturer in the world etc.
Low costs for incorporation of companies
In RAK, there are many industries and economic activities, such as manufacturing, services, trading, tourism etc. and the economy of this region continues to develop and grow, attracting more foreign investors every year. They have the benefit of opening a company in RAK Free Zone at nearly half of the price than the UAE average. RAK offers a good quality life for the entrepreneurs who decide to move there and live by the sea.
An investor can open in RAK different types of legal entities, such as a free zone establishment (for one owner), a free zone company (two to five shareholders), a branch of a local or foreign company etc.
If you are interested in opening a company in RAK Free Zone, you may contact our company formation agents in Dubai who will help you start your business and obtain the required licenses.