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The free zone provides a tax-free environment, 100% foreign ownership, fast-track visas, freedom to source labour and materials globally, and ongoing business support services. [1] RAK FTZ provides these incentives at lower cost than free zones in other emirates. [2] [3] RAK FTZ was established in May 2000 by an Emiri Decree.
The UAE has a number of free zones across Dubai, [1] Abu Dhabi, Sharjah, Fujairah, Ajman, Ras al-Khaimah and Umm al-Quwain. Free zones may be broadly categorized as seaport free zones, airport free zones, and mainland free zones. Free-trade zone exemptions are: [2] 100% foreign ownership of the enterprise. 100% import and export tax exemptions.
Ras Al Khaimah Investment Authority (RAKIA) is a United Arab Emirates investment authority in the Emirate of Ras Al Khaimah. It issues licenses to operate within RAKIA owned special economic zones, provides business facilities and warehouses and provides investment funding. RAKIA supports developments that include industrial parks, education ...
Ras Al Khaimah Economic Zone (RAKEZ) is an Emirati free-trade zone in Ras Al Khaimah in United Arab Emirates. In January 2020, Entrepreneur reported the free zone to have 14,000 companies across 50 industries.
US$ 14.3 billion (2023) • Per capita. US$ 30,700 (2023) Ras Al Khaimah (RAK) [a] is the northernmost of the seven emirates that make up the United Arab Emirates. The city of Ras Al Khaimah, abbreviated to RAK or RAK City, [2] is the capital of the emirate and home to most of the emirate's residents. It is linked to the Islamic trading port of ...
The establishment of designated freezones in the United Arab Emirates (UAE) traces its roots to the nation's strategic vision for economic diversification.In the late 20th century, recognizing the need to reduce reliance on oil revenue, the UAE embarked on a deliberate initiative to create economic zones that would attract foreign investment, promote international trade, and foster innovation.
Ras Al Khaimah. Ras Al Khaimah (Arabic: رَأْس ٱلْخَيْمَة), often referred to its initials RAK and historically known as Julfar, is the largest city and capital of the Emirate of Ras Al Khaimah in the United Arab Emirates (UAE). The city had a population of 400,000 in 2023, [3] and is the sixth-most populous city in UAE after ...
The types of Business Licenses issued in the United Arab Emirates (UAE) are professional, commercial, industrial and tourism. The professional license covers services offered by professionals, artisans and craftsmen; the commercial license covers all trading and commercial activities performed with an intention of making profit ; the industrial license covers all industrial and manufacturing ...
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