RAK FTZ stands for RAK Free Trade Zone and it refers to specific economic zones in Ras Al Khaimah where foreign investors are facilitated with a number of opportunities to start and grow their business. Getting the RAK free zone license and doing business in RAK FTZ is easy as minimum paperwork and a hassle-free process need to be followed to set up a company in RAK free zone.
With the presence of more than 8,000 companies doing business in 50 different sectors across the RAK free zones, the RAK free zone company setup could be an ideal choice for investors that seek sustainable growth with economic freedom in the UAE.
RAK Free Trade Zone was established in the year 2000 and it consists of four free zone parks including Business Park, Technology Park, Industrial Park and Academic Zone. There are four different types of licenses that could be issued by the RAK Free Trade Zone Authority to the companies that meet the eligibility criteria.
Here are the four types of business licenses that investors can apply for in the RAK free zones.
This type of license is suitable for companies that are looking to export, import and warehouse goods and products within limited numbers. The companies holding a commercial license are allowed to perform business activities for seven similar products or two different products.
With this type of license, companies can trade or warehouse products without requiring any specific permission. Investors are allowed to perform business activities for several products with a general trading license.
This type of license is suitable for companies that are looking to establish their business in any type of consultancy services including business, marketing, logistics or management consultancy.
This type of RAK free zone license is suitable for companies that are looking to import raw materials. The industrial license also allows companies to perform activities including manufacturing and packaging of products and exporting the finished products.
The RAK free zone packages are categorized differently on the basis of four different types of licenses that can be issued in the RAK free zones.
The yearly costs for all four types of RAK free zone business licenses are given below:
The one-time registration fee to obtain an RAK free zone license is AED 7,000, while AED 1,200 is the service fee that has to be paid annually.