Ras Al Khaimah (RAK) is the northernmost emirate of the United Arab Emirates (UAE) approximately 100 kms northeast of Dubai. A strong economy, together with a stable political environment, makes the UAE a very attractive and safe place for investments of all kinds. The cost of living and doing business in RAK are markedly lower than in other emirates, allowing for greater profit margins for investors.
The Ras Al Khaimah Free Trade Zone Authority (RAKFTZ) was formed by an Emiri Decree on 1st May 2000-the result of an initiative on the part of His Highness Sheikh Faisal Bin Saqr Al Qasimi, Chairman of the Ras Al Khaimah Finance Department, to set up the emirate's first free trade zone.
Currently, RAKFTZ has four fully operational "parks"-The Business Park, Industrial Park, Technology Park and Academy Zone-with plans to develop additional industry-specific sites in the future.
Today approximately more than 7,000 companies from 106 countries are enjoying doing their business into Ras Al Khaimah Free Trade Zone.
|Location:||Ras Al Khaimah, (U.A.E.)|
|Permitted activity:||Please refer to the table below & list of activities carried against each license|
|Type of license||Activities carried out|
|Commercial license||Import-Export, Distribution, Warehousing of goods (either 2 different activities or 7 similar activities)|
|General trading license||Import-Export, Distribution, Warehousing of goods (more than 7 different activities)|
|Consultancy/Service license||Any type of management, marketing, academic, real estate, logistics or industrial consultancy (2 different activities can be carried out)|
|Industrial license||Import of raw materials, manufacturing, processing, assembling, packaging, export of finished products|
|License available:||Industrial/Commercial trading/General trading & Service license can be obtained|
|Types of entities:||FZE (single shareholder), FZC (2-5 shareholders) & Branch office|
|Shareholder:||Can be individuals or corporate entity|
|Director:||Individuals only (Minimum one. Shareholder can also be director)|
|Share capital:||Please refer to the table below|
|Type of license applying for||FZE||FZC|
|General trading license||200,000||200,000|
|Audit:||Annual audit report to be filed by FZE & FZC. Not required for Branch office|
|Estimated time:||2-3 weeks for incorporation & setting up a company. Another 7-10 days for immigration. Visa may take approximately 7-10 days on normal basis|
|Renewal:||License of the company has to be renewed on annual basis. Penalty would be charged by the authority if license is renewed after expiry date.|
The approximate cost for setting up a company in RAK Free Trade Zone is between AED 20,000/- to AED 100,000/- depending upon the type of license and facility selected. Documents required are passport copies of shareholders/directors/manager, bank reference letters, project profile, corporate documents, etc depending upon structure of the proposed company.
GBS helps you with your company incorporation requirements at RAK FTZ.
Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, it does not constitute legal, tax or other professional advice. We do not accept any responsibility, legal or otherwise, for any errors or omissions.