1. RAS AL KHAIMAH ECONOMIC ZONE (RAKEZ) – RAS AL KHAIMAH
Ras Al Khaimah government had earlier two different free zone authorities viz Ras Al Khaimah Free Trade Zone (RAKFTZ) and Ras Al Khaimah Investment Authority (RAKIA) which were later merged to be one free zone which is currently called Ras Al Khaimah Economic Zone or RAKEZ. Ras Al Khaimah is around 80 kilometers from Dubai though this free zone has become very popular as it has investor relations and customer service office located in Dubai. RAKEZ offers economic packages which are suitable to investors budget and visa processing is done in house. RAKEZ has thousands of companies which are operating from this free zone. RAKEZ has several areas within the emirate of Ras Al Khaimah ranging from office buildings to land plots to seaport. 100% foreign ownership and free repatriation of capital and profits are some of the advantages.
Types of license available in RAK free zone:
- Commercial License
- General Trading License
- Service or Consultancy License
- Industrial License
- Academic License
Types of company formation in RAKEZ:
- Free Zone Establishment (FZE)
- Free Zone Company
- Branch License
2. RAK MARTIME CITY (RMC) – RAS AL KHAIMAH
RAK Maritime City operates as a free zone under the auspices of Saqr Port of Ras Al Khaimah emirate. With a dedicated harbor and berthing facilities RMC is attractive to businesses which consider seaport access an advantage. Deep harbor, land plots and other such facilities are the points of attraction.
RMC allows the following type of licenses based on its internal approval:
- Commercial License
- Industrial License
Some of the advantages of RMC:
- 100% Company Ownership
- 100% Tax Exemption
- 100% repatriation of profits and capital
- Excellent infrastructure and communication
- Cost effective formations