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RAK Free Trade Zone Company Formation (RAKFTZ)

RAK Free Trade Zone Company Formation (RAKFTZ)

Introduction – Free Zone Focus

Ras Al Khaimah Free Trade Zone (RAKFTZ) has become a first class business hub with modern infrastructure and amenities which promote business growth and development.

RAKFTZ has incorporated over 4500 companies from more than 100 countries.

RAKFTZ was established in the year 2000 under the patronage of His Highness Sheikh Faisal Bin Saqr Al Qasimi and since its opening it has been extremely successful. RAKFTZ was named ‘Best Emerging Free Zone’ for three years in a row by the Middle East Logistics Awards (MELA) and is one of the quickest growing free trade zones in the area.

RAKFTZ offers its clients business opportunities which are affordable, flexible and efficient.  Client are presented with practical, flexible and customised solutions to ensure a successful and hassle free company set up and smooth operation.

To see  RAKFTZ’s Interactive Presentation, Corporate Video, Brochure, Google Map and useful Application Forms follow this link

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Free Trade Zone

A free trade zone is one or more locations within a country in which barriers to trade such as tax, quotas and tariffs are lifted.  Also “red tape” or bureaucratic obligations are much lower than in non-free trade zones.  Doing business in a free trade zone is highly attractive to foreign investors.

Competitive Advantages: Why RAKFTZ?

  • 100% income tax exemption
  • 100% corporate tax exemption
  • 100% capital and profit repatriation
  • 100% ownership
  • 7500 investors from over 100 countries
  • Award winner
  • Cost effective and value-added service
  • Hassle-free and friendly service, fast registration process
  • Customized support services and packages
  • Modern business facilities and products
  • Land available for lease for industrial activities
  • Near Port Saqr with easy access from Iran, the CIS, Far East, India and Pakistan
  • Networking with high profile clients

RAK Free Trade Zone Contact Details:

Headquarters
P O Box 10055, Ras Al Khaimah, UAE
Toll Free (UAE): 800 7111
Tel: +971 7 2041111
Fax: + 971 7 2077120
Email: inquiry@rakftz.com

Working Hours
8:00 AM – 4:00 PM
Sunday – Thursday

Ras Al Khaimah Promotion Centre
RAK FTZ Business Park – RAK Business Centre
Floor 8, BC 4, RAK FTZ Business Park, Al Nakheel
P O Box 10055, Ras Al Khaimah, United Arab Emirates
Tel:  +971 7 2041188
Fax: +971 7 2041010
Email: info@rakfzbc.ae
Website: www.rakftz.com

Working Hours
8:00 AM – 4:00 PM
Sunday – Thursday

Key People

Sheikh Ahmad Bin Saqer Al Qasemi
Chairman

Sheikh Mohammed Humaid Al Qasemi
MD

Peter J. Fort
CEO

Sheikh Yasir bin Ahmed bin Humaid Al Qasimi
Board Member

Roudayna Esber
General Counsel

Imran Cheema
Director of Client Relations

Hana Ahmed Al Shehhi
Director of Operations

Ruba Mohd Jalal Al Reemawi
Director of Licensing

Gary Wilson
Head of International Companies Regulations and Operations

RAK Free Trade Zone Company Registration Process

Outline of the Company Registration Process at RAKFTZ:

Note this is a general outline, which may be different in some cases.  See more details in the application form.

  • Pre-approval – application form
  • Collection of required documents – List of Trade Names form, passport copies, bank reference letter, Declaration form, description of business activities, other legal documents
  • Payment – allow 2-3 days for cash payments, 4-6 days for cheque payments and 6-9 days for international transfers
  • For FZC and FZE companies – Certificate of Formation, Bank reference and legal documents
  • Obtain business license and deeds for leasing
  • Start the process for visa application

Bank Statement Requirements:

  • Applicants’ bank statements for Commercial or Consultancy / Services Licenses should have a balance of minimum AED 100,000 (USD 27,400).
  • Applicants’ bank statements for General Trading Licenses should have a balance of minimum AED 150,000 (USD 41,000).
  • Applicants’ bank statements for Industrial Licenses should have a balance equal to the capital required for the project.

RAKFTZ Fees

Type Cost (AED) Frequency
Registration Registration fee 7,000 Once
Services Annual service fee 1,200 Yearly

Note:

Additional Fees depend on the package required, for example for a Free Zone Company (FZC) an extra charge of AED 2,350 to 3,500 will be required for the legal documents (Memorandum and Articles of Association, Board Resolution and Power of Attorney).

Business License Fees

Type Cost (AED) Frequency
License Commercial License 3,650 Yearly
Industrial License 5,000 Yearly
Consultancy / Services License 7,500 Yearly
General Trading License 15,000 Yearly

Visa Fees

Standard Service (AED) Urgent Service (AED)
Visit Visa for business purpose/ dependents (30 days duration) 800 1,300
Visit Visa for business purpose / dependents (90 days duration) 1,500 2,000
Employment Visa for investor and/or partner 6,830 8,830
Employment Visa for manager and/or employee 2,670 4,670

Note:

A deposit of AED 1,000 must be paid for Visit Visas and a deposit of AED 2,000 for Employment Visas for managers/employees.  The deposits are partially or fully refundable and subject to RAKFTZ’s terms and conditions. RAKFTZ may amend Visa fees with no notification.

RAKFTZ Registration General Rules:

  • The applicant needs pre-approval before the registration process begins
  • For UAE Residence Visa holders, the applicant needs to have a No Objection Letter from his/her sponsor before submitting the application form
  • For Consultancy Licenses, the applicant needs to have academic certificates and proof of experience in the relevant field
  • Business licenses are valid for one year, following which the license is renewed or the company is deregistered, otherwise penalties will be imposed
  • For renewal of licenses, the companies must submit audit reports which must be prepared by UAE registered audit firms
  • Approvals for visas and renewals of licenses depend on the level of business activity and size of operation
  • Holders of RAKFTZ licenses are not allowed to operate in other locations other than RAKFTZ facilities
  • The business licenses can be amended if necessary with the payment of a fee
  • All business facilities in RAKFTZ are subject to inspections by RAKFTZ employees
  • Facilities may not be subleased
  • Holders of RAKFTZ licenses must comply with local customs regulations

Product Fees

Type Cost (AED) Frequency
Flexi Facilities Flexi Desk 12,500 Yearly
Flexi Office 19,000 Yearly
Standard Office Office rent (for furnished office) 22,000 Yearly
IT / Telecomms (for basic package) 360 Monthly
IT / Telecomms installation 550 One off
Executive Office Office rent (for unfurnished office) 1,250 – 1,700 per m2 Yearly
IT / Telecomms (for basic package) 360 Monthly
IT / Telecomms installation 550 One off
Furniture / Equipment as per requirements
Warehouses Industrial Park – 15KW / 30KW / 60 KW 245 per m2 Yearly
Technology Park 15KW / 30KW / 60KW 245 per m2 Yearly
Land (discount for long term leases) Industrial Park 35 per m2 Yearly
Technology Park 50 per m2 Yearly
Electricity connection 600 – 1,200 One off

Business Centre Services Packages (Business License, registration, service fees):

  • Commercial License: AED 15,000
  • Consultancy License: AED 19,000 (not eligible for Residence Visas).

RAK Free Trade Zone Services

  • Company Registration
  • Licenses
  • Visas
  • Mazeed Service Desk

Company Registration

Types of Companies Registered at RAKFTZ:

  • Free Zone Establishment – a new company with one owner.
  • Free Zone Company – a new company owned by 2-5 business partners.
  • Local Branch – A branch of a local company based in the UAE. It is required that the parent company has been active for a minimum of one year.  This is also so for a subsidiary company.
  • Foreign Branch – A branch of an overseas company based outside the UAE. It is required that the parent company has been active for a minimum of one year.  This is also so for a subsidiary company.

Licenses

  • All companies housed in RAKFTZ need a business license (trade license) in order to have industrial, commercial or consulting activities
  • RAKFTZ’s licenses are renewable yearly
  • In order for the license to be renewed, the company must submit audit reports
  • Companies within RAKFTZ are not allowed to conduct their business within the UAE unless they appoint a local distributor or agent

Types of Licenses issued by RAKFTZ

Commercial Licence

  • For export, import, warehousing and distribution activities
  • 2 different or 7 similar activities allowed per license
  • 2-3 days for processing

Industrial Licence

  • For manufacturing, processing or import of raw materials, assembling, packaging and export of products
  • 1 product per license
  •  2-3 weeks for processing

General Trading Licence

  • For export, import, warehousing, distribution activities
  • Multiple activities allowed per license
  • 2-3 days processing

Consultancy/Services Licence

  • For consulting on real estate, logistics, management, marketing etc
  • 2 different consulting activities per license
  • 2-3 days processing

Visas

RAKFTZ issues visas to licensed clients in order for them to be able to do business in the United Arab Emirates.  The number of visas that a company holds depends on its size, type of license and activity.

Issuing of visas is controlled by the rules and regulations of RAKFTZ as well as the RAK Immigration Authority.

There are different types of visas which depend on the clients’ needs and activities.

Types of visas issued by RAKFTZ

  • Employment Visa – for the investor or partner up to any age: issued to an owner (Investor Visa) of an Establishment or to a shareholder or partner (Partner Visa) of a RAKFTZ company in the case where the share value is over AED 50,000.  The visa is valid for three years.  The holder of the visa is not allowed to be away from the UAE for more than 6 continuous months.  Shareholders, investors or partners wishing to sponsor their family members need to have over AED 75,000 of the company’s shares.
  • Employment Visa– for a manager or employee of RAKFTZ companies from 20-60 years old. The visa is valid for three years.  The holder of the visa is not allowed to be away from the UAE for more than 6 continuous months.
  • Family – men with an Employment Visa can apply for a Family Visa in order to sponsor their families.  The visa is valid for three years.
  • Visit – A Visit Visa allows someone to enter the United Arab Emirates for 30 or 90 days.

Mazeed Service Desk

Mazeed provides many value-adding services to support clients in all the steps involved from setting up to the smooth operation of their businesses.

Mazeed’s services include:

  • Recruitment
  • Personnel training and development
  • Marketing services
  • Design services
  • Insurance
  • Procurement

RAK Free Trade Zone Products

  • Industrial Parks
  • Business Park

Industrial Parks

RAKFTZ houses industrial parks which offer investors warehousing facilities, plots of land, offices and housing.

  • On the RAK beach road, next to Hulaylah Island and 6km from Saqr Port
  • Ideal for heavy industries
  • Ideal for warehouses
  • Various plot sizes available
  • Full amenities (electricity, water, telecoms) for plots
  • Workers’ housing available
  • Operation Services Centre
  • Customs Office

Business Park

  • In the city commercial centre, near to Al Manar Mall
  • Close to the airport, Port Saqr and Dubai / Sharjah
  • Offers offices in the free zone centre of RAK Business Centre
  • Investors can set up their businesses simply and quickly
  • Various types of office space (eg. flexi-offices, flexi-desks)
  • Office space is furnished with full amenities
  • Cheap rates.

RAKFTZ has an extensive range of products located in the RAKFTZ Business Park and Technology Park to suit its clients’ business needs:

  • Executive offices
  • Standard offices
  • Flexi facilities
  • Shell and core facilities
  • Service block facilities
  • Warehousing
  • Industrial plots
  • Employee housing
  • Labour accommodation
  • Academic zone

Executive Offices

Executive offices are medium or small sized fully furnished and serviced offices which are offered for immediate lease, or other tailor-made office space which suits the clients’ specific business needs.

Standard Offices

Standard offices are a cheaper option and are serviced, furnished offices with a size of about 10m2.

Flexi Facilities

Most of the Flexi Facilities are located at RAK FTZ’s Business Park in RAK. Flexi Facilities are shared facilities.  Clients are offered shared workstations or Flexi Desks and shared offices or Flexi Offices.   This option is especially suited to investors who wish to test the market as they are a cheap way to start a business.

Clients have an option to change to other office space categories.  Clients who do not have a Residence Visa but who need a business license and facilities can start their business with low costs with a Business Centre Services Package.  For Flexi Facilities only the investor / partner and manager of the business require visas.

Shell and Core Facilities

Shell and core facilities are open spaces of 121 to 166 m2 which are not developed or furnished so that the client can modify them in line with his needs. Modifications must be approved by the RAKFTZ Engineering Team.

Advantages of RAKFTZ Office Space

  • Office space and equipment tailor-made for clients’ needs
  • Fully furnished and equipped office space
  • Competitive rates
  • Rent inclusive of utilities
  • Advanced IT / telecommunications systems
  • Modern business centre services (courier service, administrative, mail, post office, cleaning etc)
  • Postal address via Empost
  • 24/7 access
  • Car parking

Service Block Facilities

Service block facilities or shops are available which are suitable for activities such as restaurants, laundries, pharmacies, taxi service etc.  The typical sizes are 40 – 128 m2.

Warehousing

Warehouses are ready made units from 150m2 to 500 m2.  They can be utilized for light industrial activities such as manufacturing and assembly and storage of products.

Advantages

  • Different sizes of warehouses available with possibility of extension
  • Flexible leases – yearly or shorter leases
  • Near seaports and airports with easy highway access to Dubai
  • Near the Government Departments
  • Onsite labour and staff housing
  • Easy access for loading, unloading and cargo handling facilities
  • Warehouses are available in two Business Parks – Industrial Park (Al Hulaylah Island, Al Saqr sea port are) and Technology Park (Al Jazeera Al Hamra)
  • 24/7 security
  • Car parking

Industrial Plots

Industrial plots are available for activities such as industrial, logistical and provision of services.  Plot sizes start from 2500 m2.

Plots are located at RAKFTZ’s Industrial Park and Technology Park.  Plots in the Industrial Park are ideal for heavy industrial activities like those which need access to water (boat construction etc).  Plots in the Technology Park are more suitable for light industry activities and activities that do not require a waterfront.

Advantages

  • Many sizes available
  • Short or long term leases
  • Near Government Departments and RAKFTZ offices
  • Near seaports and airports
  • Easy highway access to Dubai
  • Easy access for loading, unloading and cargo handling facilities
  • Onsite labour and staff housing
  • 24/7 security

Employee Housing

Furnished as well as unfurnished studios, suitable for up to two people are available for male staff.  Utilities are included in the rent price and the studios are near shops, have car parking facilities and 24/7 security.

Labour Accommodation

Labour accommodation is available for male labourers.  4-6 people can be housed per room with a size of about 25m2.  Utilities and furniture are included in the rent price and the studios are near shops, have car parking facilities and 24/7 security.

Academic Zone

Academic organisations can locate their facilities at one of RAKFTZ’s allocated educational buildings or they can build their own building at another location in RAK.

Advantages

  • Choice between leasing or own construction
  • Easy start-up procedures
  • Educational organisations can offer educational programmes to the RAK community
  • Dedicated RAKFTZ staff to assist and provide administration support

Information to download:

RAKIA Corporate Video

RAK Free Trade Zone (RAKFTZ) Map

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