RAK IA FREE ZONE
RAK Investment Authority (RAKIA) was established following the Emiri Decree No. (2)/ 2005 issued by H.H. Sheikh Saqr Bin Mohammed Al Qasimi, former Supreme Council Member and Ruler of Ras Al Khaimah. RAKIA was created to boost the industrial and business opportunities and realize a long-term strategy for the emirate’s socioeconomic development. Within a few ears, RAKIA has attracted large number of local & international companies to RAK and is laying down the foundation to a more resilient and robust economy by attracting foreign direct investment year-on-year.
- Up to 2012, 6802 companies were registered with RAKIA.
- Ras Al Khaimah has grown into an industrial and trading hub. Its economy continues to expand, growing eight percent in 2011 and 2012, and the government forecasts similar growth for 2013
RAKIA offers a highly attractive economic package to foreign investors, which includes 100 per cent income and corporate tax exemptions, full repatriation of capital and profit, readily available labour, hassle-free licensing procedures, excellent airport and seaport facilities, and the absence of foreign exchange controls, trade barriers and quotas. Moreover, Ras Al Khaimah’s excellent infrastructure and logistic support, competitive energy cost, easy access to GCC countries, zero corruption and minimum bureaucracy, stable government and investor friendly policies have added to the emirate’s global appeal.
- Land for industrial activities
- Warehouses/light industrial units
- Office space
- Executive residences
- Workers’ accommodation
BUSINESS IN RAK IA
Ras Al Khaimah Free Trade Zone Authority has created a system of four unique Free Zone Parks that will suit and serve every investor according to their requirements. The Four Parks concept includes the Business Park, Industrial Park, Technology Park & Al Ghail Park, offering the offices, equipped warehouses & land facilities. Situated at different locations across the Emirate of Ras Al Khaimah, each Park caters to the specific business interests and activities of the RAK FTZ investors.
The RAK Free Trade Zone Business Park
The Business Park is located in the central business district of the city, close to the modern RAK Exhibition Centre. The RAK Business Centre is a free zone facility which gives investors an opportunity to start a business with no hassles. Some of the key features of the RAK Business Centre are the furnished, fully-functional and ready-to-use offices, flexi-offices (shared office) & flexi-desks (shared desk) in various locations rendered in consistence with the investors’ convenience. All of these are offered at highly cost-effective rates. The business park in Al Hamra has a total area of 7.05 km². Around 90% of the operating companies in Al Hamra are from the manufactoring sector.It offers all of the facilities required by international businesses :
- Superior telecommunications offered by Etisalat
- Modern airport connections to 25 countries
- Excellent port facilities at Port Saqr – only 25 kilometres from Ras Al Khaimah
- Close proximity to the emirates of Dubai and Sharjah.
The RAK Free Trade Zone Industrial Park
Located along the Ras Al Khaimah coastal road approximately 15 km north of Ras Al Khaimah and immediately adjacent to Hulaylah Island, which is approximately 6 km from Saqr Port. It is developed for construction of Heavy Industries & Warehousing and incorporates abundant energy supply. Plot sizes are provided to suit individual client requirements and are fully serviced with water, electricity and telecommunications. The facilities include On-site employee accommodation, Custom Office, Operation Supportive Services Centre & other administrative and service support center located within the Park.
The RAK Free Trade Zone Technology Park
Located at South of Ras Al Khaimah, The Technology Park is in close proximity to Dubai via the Emirates Road, which is also well known as center of attraction for the business community and to the Ras Al Khaimah International Airport. Covering an area of 100 hectares, it is located opposite 5 Star resorts with an 18-hole golf course (Al Hamra village & resort). It is sited in a rapidly expanding area devoted to Light Industries & automated manufacturing and capital intensive quality lifestyle projects.
Al Ghayl Industrial park
Covering an area of 400 hectares, Al Ghayi Industrial Park caters to the heavy industries that deal with the construction market such as steel fabrication. It has a strategic location since it is close to Sharjah & Fujairah. The business park at Al Ghail has a total area of 19 km². More than 90% of the operating companies in Al Ghail are from the manufacturing sector.
RAKIA company type
- Establishment (FZ/IZ) : This can be formed only by one shareholder, either an individual (a person) or a non-individual (a company).
- Limited Liability Company (FZ-LLC/LLC) : This type of company can be formed by a minimum of two or more partners. The partners can be individuals (people), non-individuals (companies) or a combination of individuals and companies.
- Foreign or Local Branch : Under this category licenses are issued to companies holding a valid license from any licensing authority either in UAE or outside UAE
RAKIA License type
- Industrial License : Manufacturing, processing, assembling, packaging etc.
- Trading License : Import, export, distribution, warehousing, trading (maximum 5 activities from similar product lines or 3 different activities from 2 different product lines).
- General Trading : All kinds of trading, import, export, warehousing and distribution of goods
- Commercial License : Activities covering contracting, repairing, maintenance, renting, shops, restaurants etc.
- Consulting / Services License : Any type of management, business, industrial consultancy or professional services including real estate consulting.
- Media License : All kinds of media and communication services.
|RAKIA Free Zone|
|About the free zone||Ras Al-Khaimah Investment Authority Free Zone places easy of doing business as a priority while imparting the benefits of low costs to its clients. It has developed industrial parks at Al Hamra and Al Ghail areas of Ras Al-Khaimah while providing commercial office spaces of varied sizes at Al Hamra, Ras Al-Khaimah.|
|Number of companies||Over 5,700 Companies|
|Industry focus||Suitable for all types of industries|
|Limited liability companies||Yes|
|Minimum number of shareholders required||1|
|Minimum number of directors required||1|
|Corporate shareholders allowed||Yes|
|Corporate directors allowed||No|
|Public register of shareholders and directors||No|
|Access to UAE Double Taxation Treaties||Yes|
|Port at freezone||No|
|Allowed to import and export goods||Yes|
|Major companies example||POSCO Steel, Ashok Leyland, Dabur India, ARC International, Becker Paints|