An Introduction About RAK FTZ
Ras Al Khaimah Free Trade Zone (RAK FTZ) was created in the year 2000 and within 2 decades it has emerged as the favourite investment trade zone for the foreign and regional investors. Presently, more than 8000 business establishments are operating and flourishing their business in RAK free trade zone.
Nationals of around 100 countries owe their businesses in RAK FTZ. Low business set up costs and cost-effective business operations attract the entrepreneurs to come and establish their business here. Apart from low cost set up and one amongst cheapest free zone license in UAE, many other benefits are entitled to the firms registered here at RAK FTZ.
Why start a business in RAK Free Trade Zone?
Numerous factors make the place ideal for the investment, some of them are as follows:
- Foreign ownership allowed up to 100%
- Exemption of 100% in personal and corporate income
- No restrictions on the transfer of funds to the base country
- The quick and simple registration process
- Very clear rules and regulations
- State-of-the-art infrastructure and other amenities
- Fully furnished offices and warehouses with 24 hours accessibility
- Location is very feasible to access an already set market
- Proximity to international airport and seaports
- Land on long term lease for industrial activities
Permissible Legal Entities
RAK FTZ offers 4 options of legal entities to the companies keen to register themselves in the Free Zone
Option for New Entities
- Free Zone Limited Liability Company (FZ-LLC) – it can be owned by several shareholders.
- Free Zone Sole Establishment (FZE) – A business entity owned by one single owner.
- Local Company Branch – A UAE-based Company or a local company being in operation for 2 years.
- Foreign Company – A non-UAE-based company or a foreign company being in business for more than a year.
Licenses available at RAK Free Trade Zone
Every commercial activity is covered under a specific license in RAK FTZ. RAK FTZ Authority is authorized to grant a license to trade under four different categories:
- Commercial License-This license is for those companies who are engaged in activities like import and export, warehousing and logistics and distribution of material and products.
- Services License– companies providing services or expert consultations are covered under this license.
- Industrial License-companies involved in manufacturing, processing, packaging and exporting finished goods, importing raw materials for further processing.
- Educational License– it allows training institution or any education-oriented services and consultancy.
Entrepreneurs can choose the license according to the commercial activities they intend to perform within the free zone.
Documents required at RAK Free Trade Zone for the process of Registration
- Trade name reservation
- Letter of initial approval
- Passport photocopies of the shareholders/manager
- Coloured photograph of passport size of the manager/shareholder with white background
- Resume of the Manager/shareholder
- Original bank reference letter
- Land lease Agreement
Additional documents needed in case of a corporate stakeholder and branch
- Memorandum of Association
- Article of Association
- Board resolution
- Certificate of registration
- Letter of Power of Attorney to PMC Solutions FZCO for appointing us as a legal representative of the applicant so that we can act on the Client’s behalf.
Associate with PMC Solutions FZCO to Start a Business in RAK FTZ
At PMC Solutions FZCO, we have all the expertise and experience needed in RAK Free Zone Business set up. We help our clients at every stage of company formation and make it operational at the cheapest cost possible.
We assist in obtaining the cheapest free zone license in UAE and brand name registration in UAE