RAS AL KHAIMA INVESTMENT AUTHORITY FREE ZONE (RAKIA FZ)
Introduction
The RAK Investment Authority was constituted as per Emiri Decree No. (2)/ 2005 issued by H.H. Sheikh Saqr Bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah. The mandate for the Authority is to work towards reinforcing the investment climate in the Emirate and to promote its various economic sectors.
Ras Al Khaimah has earned its reputation as a pre-eminent commercial centre with an innovative, dynamic and entrepreneurial business culture. Strategically located at the crossroads of trade and commerce between East and West, it is ideally positioned to service and access markets that span the Middle East, Africa, the Indian Subcontinent and the CIS countries. Moreover, it occupies a time zone that allows it to connect markets like the Far East and the US. To leverage this advantage, it is developing a world-class infrastructure, air and port facilities, making it the most well-connected hub in the region.
RAKIA vision is to become a leading authority in making sound investments in Ras Al Khaimah and partner with others who share our vision, enabling them to achieve their objectives, at the same time creating a sustainable and growing economy.
In this region free trade zones have been traditionally viewed as real estate operators and license issuers, however, RAKIA went the extra mile in attracting investors on the basis of partnering with the investors by not only being a land provider but also offering investment advisory service and equity participation on selected projects. This created an atmosphere of trust among investors and generated a solid network of opportunities.
RAK Investment Authority has been able to attract close to US$ 1.2 billions of investment from all over the world, in various industry segments since inception less than 2 years ago. These industries are diverse and strategic and are in the areas of Glass & Table ware, Float Glass sheet, Cement, DVD media factory, Renewable Energy, Pharmaceuticals, Consumable Hygienic Products, Vehicle Assembly, Hotels & hospitality business, health & education, tourism industry and many more.
Benefits:
- No corporate tax
- No income tax
- 100% ownership in Free-zones
- No foreign exchange controls, trade barriers and quotas
- No restriction on capital repatriation
- Easy access to key design makers
- Liberal labour laws
- Low land and real estate costs
- Strong work ethics
- Low inflation
- Open door policy
- Issue of visit and residence visa
- Ready availability of power, water and gas.
- Excellent local and international banks for funding project finance
- No restrictions on hiring expatriates.
- Proximity to entire gulf and global markets.
License Type:
Industrial license:
Activities allowed – import raw materials, manufacturing, processing, assembling, packing and exporting finished products.
Commercial license:
Activities allowed – import, export, distribution, consolidation, storage or warehousing of items specified on the license. Maximum limit is seven similar product lines
Consulting and Service license:
Activities allowed: Offering consulting services in management, finance, investment, legal issues, labour relations, economics (including feasibility studies), industrial development, marketing, and related subjects. Other services include logistical support such as: restaurants or food outlets, catering services, travel agencies, leisure and social activities, insurance, cargo & freight forwarding, accounting, and audition services.
Commercial General Trading license:
A general trading license can be obtained under a commercial license, which allows for more than seven product lines.
