Located at the northernmost Emirate of the UAE, Ras Al Khaimah is turning out to be one of the most flourishing business destinations grabbing the attention of industrial investors. The region blends business-friendly environment and costs competitiveness, which has provoked multiple business professionals to come forward and incorporate a business in RAK. The RAKEZ (Ras-Al-Khaimah Economic Zone) stands as a strategic location and a supportive business hub that turns out to be a home for more than 14.5k companies and grips more than 50 industries.
If you are planning to start a business in the UAE, and looking forward to an investment ground, then RAKEZ turns out to be an excellent location for you. This treatise will take you through the significant benefits that you can avail by starting a business in RAKEZ.
1. Tax Exemption
Tax-exemption is one of the essential factors that drive the business owners, entrepreneurs, and industrialist to come forward and establish a business entity in the region of UAE. The same rule gets applicable for the Emirates of RAK wherein it provides tax-exemption for the budding industrialist to come forward and establish their business roots.
2. Dedicated Industrial Zones & Business Parks
RAKEZ focuses on grabbing more attention from the business investors prevailing around the world. One of the steps that the zone has come up with is the segmented sections/ zones dedicated to the activities of relevant industries like Manufacturing, Trading, Services etc. The most prominent industrial areas include:
- Al Hulaila Industrial Zone
- RAKEZ Business Zone
- RAKEZ Academic Zone
- Al Hamra Industrial Zone
- Al Ghail Industrial Zone
When it comes to business parks, the region covers:
- Business Parks: Dedicated to corporate and business entities
- Academic Zones: Targeted towards the incorporation of educational institutions
- Technology Parks: For Trading and Tech business
- Industrial Parks: For the massive Manufacturing business
3. Availability of Business and Industrial Facilities
The region of RAK provides multiple business and industrial facilities to the business professionals to meet their business needs. Some of the customized facilities covers:
- Ideal for Startups, SMEs, entrepreneurs
- Customized workstations
- Secretarial and business centre services
- Clients can opt for UAE Residency Visa
Land and Warehouse
- Available in variable sizes
- Ideal for manufacturing, trading, logistics
- Permanent power supply
- Feasible for retail districts and logistical hubs
- Clients can opt for UAE Residency Visa
4. Low Setup Cost
The United Arab Emirates is on its way to attract more investors and establish itself as an international business podium. Now, the business set up cost varies in different Emirates, and when it comes to the region of RAK, you can experience a lower setup cost with multiple business set up options.
While incorporating a company in RAKEZ, you can go for unique cost strategies that the region holds. There exist low, medium, and high-sized warehouses tailored for different businesses based on the activities carried out. Some of the activities that are performed covers trading, manufacturing, storage, assembly, transport, utility, security etc. So, these customized solutions provide important benefits to the business investors irrespective of the nature and size of the business.
5. Fast Business Establishment Process
Apart from the cost factor, the next feature that grabs the attention of business owners to start a business in RAK is the brisk business set up process. However, to experience a smooth incorporation process, it is recommended to take the help of experienced business consultants who are well-versed with the incorporation procedure. Well, in RAKEZ, you can focus on establishing the following business entities:
- Free Zone Establishment (FZE)
- Free Zone Limited Liability Company (FZ-LLC)
- Individual Establishment
- Limited Liability Company (LLC)
- Branch of a UAE Company
- Branch of a Foreign Company
6. Availability of Business License
The region of UAE mandates the business owners to avail different licenses based on the specific business activities. Some of the grants which are offered by the RAK zone includes:
- Commercial License
- Education License
- Industrial License
- Consultancy or Service License
- E-Commerce License
- Media License
- Professional License
Prior to company setup, you need to avail one based on your business activities.
7. Easy Access to International Market & MENA Region
Once you set your foot in the region of RAK, you will have enormous opportunities to target the international market and grab the attention. Few open markets include other Emirates, Oman, Qatar, Bahrain, etc. The MENA region also turns out to be one of the highly targeted markets, and business owners do earn huge profits and spike their business growth eventually. Now, let’s have a glance at the industry insights, which will help you to make the best decision.
Core insights of the RAKEZ are highlighted below:
- RAKEZ partners with Smart4Power to reduce the energy and water consumption by 38%
- Customized business setup packages have been built for women entrepreneurs
- New business categories have been introduced at the 6th Edition of RAKEZ Business Excellence
Thus, you can see that the region of RAK turns out to be a preferred business destination. By incorporating a business in RAK, you can pave the growth path for your business. However, it is to be noted that the company incorporation process involves multiple legal proceedings that need to be cleared at the initial stage. One of the smart moves that the business owners make is by availing professional services to carry out hassle-free incorporation process.
Commitbiz is one of the top business consultants of the UAE, and have been helping multiple business professionals to incorporate their business across UAE, Oman, Qatar, and Bahrain. Our business advisors to take the initiative to understand your business needs and provide tailored solutions. In case you hold any query, do speak to our experts to get clarity. Contact us today – we’d be glad to assist!