The Ras Al Khaimah Media Free Zone was developed in 2006 and as an alternate opportunity to those foreign investors who are reluctant to undertake certain commercial activities in UAE and are unable to start the business in UAE because of its high living cost.
The Ras Al Khaimah Free Trade Zone Authority (RAKFTZ) governs the free zone. Most of the companies with media-oriented activities are thinking of setting up their new base to Ras Al Khaimah Media Free Zone. The Free Zone is considered to be very cost-effective and economical as compared to Dubai Media City.
RAK Media Free Zone is dedicated to media companies and designed to meet the demands of the respective industry. With its unmatched benefits and affordable business environment, it has come up as a free zone that has attracted foreign and local investments to boost the economy of the country.
Advantages offered to investors in RAK Media Zone
Among the benefits provided to investors at the RAK Media Free Zone and Film City are
- 100% foreign ownership
- Tax-free environment
- Wide range of commercial license
- Low registration cost
- Cost-efficient operational cost
- One-stop-shop for all government approvals
Here are the facilities provided to the investors in the free zone
- Business-friendly environment and clear rules and regulations
- A global media hub
- Lower operational and set up costs
- Easy accessibility to developed markets
- State of the art infrastructure and world-class facilities.
- Fully furnished offices
- High-tech surveillance and communication facilities
- High-class lifestyle and leisure facilities
Commercial licenses available in RAK Media Free Zone
The Authority at the RAK FTZ is empowered to issue various licenses depending upon the activities to be endeavored by the enterprise registered in RAK Media Free Zone. The license in RAK MFZ is one of the cheapest free zone licenses in UAE
- TV and radio broadcasting
- License for Production and post-production
- Media marketing licenses
- License to Business and information services
- Music recording licenses
- New media
- Media support services
- Service provider
The service provider license holder can also conduct activities like restaurants, medical companies, etc.
Business set up procedures and requirements
An investor needs to follow clear procedures to get the business registered and become operational. Once the investor has made up his mind about the activities he is going to conduct in the free zone, the process of registration and obtaining a valid license starts. It is recommended to appoint a company formation consultant in UAE for hassle-free and smooth functioning to get the license.
Here’s a checklist of documents required to set up a business in RAK Media Free Zone
- Reservation of desired trade name
- Initial approval from the Authority for the commercial activities
- Copies of valid passport of the shareholders/manager
- Land Lease agreement
- Notarized Power of Attorney for appointing PMC Solutions as the legal representative
Additional Documents Required for a Corporate Shareholder
- Memorandum of Association
- Article of Association
- Board resolution
- Certificate of registration
The processing may take 2 to 3 weeks for RAK free zone company formation
PMC Solutions FZCO – Business set up specialist in UAE
Having experienced people in your favour will ensure the smooth working and hassle-free processing of setting up a business in RAK. PMC Solutions FZCO possesses all the potential that is required to do the needful. The member of our team face the concern government departments where the documents are submitted and will assist in issuance of the license.
Do contact us for any of our services required. Our team will be pleased to assist you.