Wednesday, October 10, 2007

RAK Free Trade Zone, UAE

Possessing a visionary ruling regime, the emirate of Ras Al Khaimah in the United Arab Emirates has witnessed some radical changes in recent times. This northernmost province, with its politically safe & tax-free climes, and cheaper cost of living is one of the fastest growing regions in the Middle East.

Indeed, Ras Al Khaimah is home to the first port upon entering the Gulf; yet most of its recent successes could be ascribed to its sprawling free zone.

Strategically located with access to over 1.2 billion consumers, the Ras Al Khaimah Free Trade Zone (RAK FTZ) is easily one of the more modern trading hubs in the region. The stupendous success of RAK FTZ could be attributed to its open door economic policy to gain investor confidence and encourage capital investment. And confidence in the zone has grown exponentially; it is clearly manifested in the number of firms that have chosen to set up operations in RAK FTZ.

The Ras Al Khaimah Free Trade Zone Authority (RAK FTZA) has revolutionized the way free trade zones function in the UAE. By segregating business activities according to function, operational requirements, and the needs of the surrounding communities, the administrative body has created a close-knit system of 3 Free Zone Parks to suit and serve every investor.

RAK FTZ – Privileges & benefits

100% foreign ownership

100% income/corporate tax exemption

100% Capital & Profit repatriation

Long term renewable lease

Transparent laws & regulations

Simple & fast application procedures

State of the art communication/sea port/air port facilities

Abundant energy supply

Marketing support services

How to secure an RAK FTZ license?

Prepare & present a project report on your business and contact the head office of RAK FTZ.

Complete & submit the RAK FTZ Application Form (For an Industrial License, a Detailed Application Form will have to be completed and prior to approval environmental clearance will be required).

Documentation is reviewed, approval granted and license issued.

RAK FTZ - Techno & Business Parks

Industrial Park

Approximately 15 kilometers north of Ras Al Khaimah and very close to Saqr Port, the Industrial Park is surrounded by a protected strip of mangrove trees providing an ecologically friendly environment in which to operate.

Plot sizes are provided to suit individual client requirements and are fully serviced with water, electricity and telecommunications. On-site employee accommodation is available. There is an administrative and service support centre located within the Park.

The Technology Park

The 71-hectare Technology Park is located in a rapidly expanding area devoted to automated manufacturing and capital intensive quality lifestyle projects. Lying south of Ras Al Kahimah, this zone offers easy access to the city centre, RAK International Airport and Saqr Port, and to Dubai by road. A premier 5-star hotel is situated just across the highway, with a lagoon and a golf course under development.

The Business Park

Centrally located between the Industrial & Technology Parks, the Business Park is the vibrant core of the business district. The World Trade & Business Innovation Centre is ideally located within Ras Al Khaimah Free Trade Zone, next to it.

Offices are equipped with state of the art communication links and the Free Zone Authority provides all utilities and cleaning services. Added advantages are the RAK Exhibition Centre, a five star hotel and a premier shopping and entertainment complex.

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