Ras Al Khaimah Free Trade Zone (RAK FTZ) is a free economic zone located in Ras Al Khaimah, one of the emirates of the United Arab Emirates. RAK FTZ was established in 2000. It has over 8,000 companies registered. RAK FTZ is known as a cost-effective investment destination in the UAE as it offers business setup and license packages at competitive rates.
As a free economic zone, RAK FTZ offers a tax-free environment, 100% foreign ownership, no restrictions on capital repatriation, no currency restrictions, residency visa for shareholders and employees, freedom to source labour and materials globally.
RAK FTZ Parks
RAK FTZ has four free zone parks – Business Park, Industrial Park, Technology Park and Academic Zone.
The RAK FTZ Business Park consists of office buildings for those companies that require office facilities.
The Industrial Park is made for heavy industries and it comprises warehousing facilities. It also include on-site employee accommodations, a customs office and other government services centres.
Technology Park is dedicated to light industries and automated manufacturing, as well as capital-intensive lifestyle projects.
The Academic Zone is home for educational organisations that offer academic programmes on various levels including undergraduate and graduate programs.
Types of Business Licenses in RAKFTZ
RAK FTZ offer four types of business licences:
General Trading License
General Trading License allows the holder to trade, import and export almost all types of products with the exception of several products such as alcohol, tobacco, fire arms and few more. Distribution of products in local UAE markets can be done through locally registered distributors.
Commercial/Trading License allows the holder to trade, import and export specified products. Distribution to local UAE markets can be done through companies registered in the mainland.
Industrial License permits to import raw materials, processing, manufacturing, packaging and exporting of finished products.
Consultancy License is issued to entities wishing to provide consultancy services such as marketing, management, IT, legal or business consultancy.
RAK Free Zone Incentives
At Mimo Legal Consulting we have the expertise you need to setup your business in the UAE. We will help you to choose the right legal structure and license based on your requirements and business objectives. We also assist you in opening your bank account and acquiring residency visas in the UAE. If you are interested in setting up your business in the UAE, please contact us for further information.