What is a Free Trade Zone?
A Free Trade Zone (FTZ) is one or more specially designated areas of a country where trade barriers such as tariffs and quotas are eliminated and bureaucratic requirements are lowered.

An independent Free Zone Authority (FZA) governs the free zone and is the agency responsible for issuing FTZ operating licenses and assisting companies with establishing their business in the FTZ.

Investors can either register a new company in the form of a Free Zone Establishment (FZE), Free Zone Company (FZC) or simply establish a branch or representative office of their existing or parent company based within the UAE or abroad. An FZE/FZC is a body corporate with limited liability and governed by the rules and regulations of the free zone in which it is established.

The major advantage in setting up in a free zone is that you are entitled to:
• 100 per cent foreign ownership of the enterprise
• 100 per cent import and export tax exemptions
• 100 per cent repatriation of capital and profits
• No corporate taxes for 15 years, renewable for an additional 15 years
• No personal income taxes
Establishing a business entity in the UAE Free Trade Zone (FTZ) can be an attractive option for foreign investors.


Where is the Ras Al Khaimah Free Zone?
Ras Al Khaimah Free Zone Authority oversees three sub-zones within the emirate:

RAK Free Trade Zone Technology Park is intended to accommodate international service, consulting, investment and trading companies as well as capital-intensive, high technology manufacturing and assembly companies. The proximity of the Technology Park to Emirates Highway makes it readily accessible to the city centre, International Airport, Port Saqr and destinations southward, such as Dubai.

RAK Free Trade Zone Industrial Park is located along the Ras Al Khaimah coastal road approximately 15 km north of Ras Al Khaimah, immediately adjacent to Hulaylah Island and approximately 6 km from Port Saqr. As the name implies, it is intended to accommodate industrial companies.

RAK Free Trade Zone Business Park is centrally located in the heart of Ras Al Khaimah’s vibrant business district, between Industrial Park 20 km to the north and Technology Park 15 km to the south. Its proximity to the emirate’s Emiri Diwan and other government centres of activity is an additional advantage. The Business Park is also just a short walk from Ras Al Khaimah exhibition centre. A modern shopping mall, entertainment complex and a five star hotel are only five minutes away.


Do I need a sponsor to set up a company in the RAK Free Trade Zone?
No. You are entitled to 100 per cent ownership of your company without any sponsorship regulations as long as your company conducts business within the Free Zone or abroad. To sell your products in the UAE, an official agent is required.


What types of businesses are allowed in the RAK Free Trade Zone?
All businesses are considered.


What are the steps for initial registration?
Initial registration involves the following procedures:

A. Submit the following documents:
• Application for License form
• Brief Project Description
• Passport Copy of Owner / Manager
• Power of Attorney Appointing a Representative
• Bank Statement and Recommendation
• Capital Deposit of AED 100,000.00
B. Payment of fees
• Registration (One time cost)
• License (Annual)
• Lease charges for Offices / Land / Warehouses (Annual)

C. Issuance of Business License

For more information visit:
http://www.rakftz.com/en/article/services/company-registration-rak-ftz.html


What type of licenses and activities are permitted?

Commercial License:
Import, export, distribution, or warehousing of goods (maximum of two different product lines or seven similar product lines are allowed)

Consultancy License:
Any type of management, marketing, business or industrial consultancy

General Trading License:
Import, export, distribution or warehousing of an unlimited number of product lines or goods

Industrial License:
Import of raw materials, manufacturing, processing, assembling, packaging, export of finished products

For more information visit:
http://www.rakftz.com/en/article/ser...l-khaimah.html


Can I obtain more than one license?
Yes


What type of facilities do you have?
• Executive Office
• Flexi Facility
• Warehouse
• Land
• International Company
For more information visit: http://www.rakftz.com/en/products


Can I obtain finance or loans in the UAE?
You might be able to find funding through private sources or banks. However, neither the Government nor the Free Zone Authority provides finance.


What are the annual recurring costs for license renewal?
License renewal will depend on the following:
• License fees
• Lease charges for the facility (Offices/Land/Warehouses)
How can I apply for a Resident Visa?
RAK Free Trade Zone will gladly assist you with all formalities.


What is the difference between Transit, Visit, Employment and Residence Visa and how long are they valid?

Employment Visa (Investor or Partner Position):
An Employment Visa is issued to a RAK FTZ Establishment owner or to a shareholder / partner in a RAK Free Zone Company where the value of shares held by the applicant is not less than AED 50,000 (Partner Visa).
This type of visa is normally valid for three years; the visa holder is not allowed to stay outside the UAE for more than six consecutive months.

Employment Visa (Manager or other Employee Position):
An Employment Visa is issued to managers or employees of companies established at the RAK FTZ. This type of visa is normally valid for three years; the visa holder must not stay outside the UAE for more than six consecutive months.

Family Visa:
Clients already holding Employment Visas issued by the RAK FTZ may apply for Family Visas to sponsor their dependents. This type of visa is normally valid for three years.

Visit Visa:
A Visit Visa is a permit to enter the UAE for short visits. The Visa is either valid for 30 days or for 90 days depending on the visa type applied for.



Can I have my family with me in UAE?
Yes. You should follow the correct immigration procedures.

For more information visit:
http://www.rakftz.com/en/article/ser...l-khaimah.html