Ras Al Khaimah Investment Authority
Ras Al Khaimah Investment Authority (RAKIA) positions itself as a cost-effective and geographically strategic investment destination that offers attractive and competitive free zone and on-shore facilities. RAKIA comprises two industrial parks in Al Hamra and Al Ghail in Ras Al Khaimah. RAKIA was established in 2005 by Emiri Decree No. 2/2005 issued by the late Sheikh Saqr Bin Muhammad Al Qasimi with the purpose of attracting foreign businesses and investors into the emirate.
RAKIA promotes various sectors of economy such as manufacturing, education, technology, transportation, real estate, energy, as well as offshore operations and other sectors.
RAKIA provides flexi desk facilities, offices, industrial units, warehouses and well-developed infrastructure along with cost-effective and smooth business setup process. Due to its incentives and investor-oriented policies, over 7000 companies have made RAKIA home.
Company Types in RAKIA
In RAK Investment Authority you have the choice of setting up your company either a free zone company or a non-free zone company, depending on your requirements and business objectives.
Companies registered as free zone entity enjoy tax-free environment, 100% foreign ownership, exemption from customs duties for importing into and exporting from the zone. Free Zone Company is the best solution for export-oriented companies whose primary market is beyond the Gulf Cooperation Council (GCC) region.
Non-free zone entity is an ideal solution for manufacturing businesses whose primary market is within the Gulf Cooperation Council as those products manufactured in the Non Free Zone can be exported to all Gulf Cooperation Council countries without any customs duties. However, as per the laws, such products will be required to have a minimum of 40% value addition to benefit from such exemption. In addition, only 49% of shares of a non-free zone entity can be foreign owned.
License Types in RAKIA
RAKIA offers following license categories:
Legal Structures in RAKIA
You can establish following types of entities in RAK Investment Authority:
Ras Al Khaimah
Ras Al Khaimah is one of the seven emirates forming the United Arab Emirates. It is located in the northernmost emirate in the UAE and approximately 100 kilometres northeast of Dubai. It takes approximately 60 minutes to drive from Dubai to Ras Al Khaimah. Ras Al Khaimah is recognised as one of the most attractive industrial and business destinations in the Middle East. The emirate offers low cost of living, affordable and luxury properties, world class hotels and easy access to other emirates, making it a ideal choice for investment and doing business.
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.