RAK Maritime City Free Zone is one of the most vibrant commercial pivot-point of the Middle East region. It is a nucleus of modernism, elasticity and possibility for the business.
RAK Maritime City Free Zone is a region of many million square meters. It is the closest Free Zone from the Strait of Hormuz and is extremely beneficial to the entrepreneurs in cutting the fuel cost and making it cost-effective.
RAK Maritime City Free zone is zoned into plots for definite use like manufacturing, warehousing, cargo handling, retail, industrial production, tank storage and ship repairing and building.
RAK Maritime City Free Zone was developed in 2009 by an Emiri Decree to offer numerous benefits to the international investors ready to re-locate their company’s regional headquarters and base to Ras Al Khaimah.
Types of Entities allowed in RAK Maritime City Free Zone
A company can be registered as any of the following entities in RAK Maritime City:
- Free Zone Sole Establishment
- Free Zone Company
- Branch of a Local (UAE based) Company
- Branch of a Foreign Company
Types of Licenses
The license issued by RAK Maritime City Free Zone Authority is valid only within the Free zone premises and does not apply in the rest of UAE.
- General Trading License – The general trade license permits the imports and exports, distribution and storage and selling of goods. It allows trading in more than seven merchandises.
- Commercial License – The commercial license allows activities like importing, exporting, warehousing and logistics and selling and distribution of goods.
- Industrial License – Industrial license permits the importing of raw materials for further manufacturing, assembling and processing.
Advantages to Investors Starting Company at RMCFZA
- Located strategically in Strait of Hormuz
- Global markets are easily accessible
- Clear rules and regulations
- Complete foreign ownership
- 100% tax exemption on personal and corporate profits
- No customs duties on imports and exports
- Availability of skilled and trained labour
- No restrictions on employing foreign expertise
- Cost-effective company formation and operations
- Wide-ranging warehousing facilities with 24 hours of accessibility and security
- Excellent customer support service
Procedures to set up business in RAK Maritime City Free Zone
Companies willing to start the operations at the RAK Maritime City Free Zone have to register themselves as a legal entity, open a corporate bank account, obtain a valid license to undertake desired activities and sign a land lease agreement. To register a business, a clear mentioned procedure must be followed:
- Download an online application form on the official website
- Submit the required documents on approval of the application by the RAK Authorities
- Choose and register the company’s business name
- Notarize the Memorandum of Association at the company registrar office
- Fulfill the requirements after obtaining the Certificate of registration
- Pay the fees and collect the license.
If an investor is looking for RAK free zone Company formation then he must contact a business set up consultants in UAE. Do contact PMC Solutions FZCO for business set up, visa services or other information and services.
Our team of business experts is ready to help you and guide you in every step of company formation.