5 Advantages Of Setting Up Business in RAKEZ

29th, Aug 2022 Team Global Biz

Ras Al Khaimah Economic Zone - One of the economically influential areas in the United Arab Emirates was formed in 2000. The Middle East Free Zone is dedicated to its service industry, professionalism, and morality. This business destination is considered the most affordable infrastructure in the UAE available. The popularity of the RAK Economic Zone is widespread both domestically and abroad. It has more than 7000 registered companies as members from more than 100 different countries. More than 2000 firms were registered in 2011 alone, which doubled in 2010.

Access to the developing and established markets in Africa, South Asia, Europe, and the Middle East is simple through the Ras Al Khaimah Economic Zone. Due to its varied economy and strong governance, it provides the ideal investment climate as a member of the United Arab Emirates. In the RAK, taxes, quotas, and tariffs have been removed in an effort to entice new enterprises and foreign investment. More than 40 double taxation agreements can be used, and investors may qualify for residency or a visa. So, if you are looking at the Rak Freezone business setup or mainland business setup, this blog outlines numerous advantages that you must know. 

1. No Taxes Applicable

One of the key motivators for business owners, entrepreneurs, and industrialists to set up a company in the UAE region is the availability of tax exemptions. The Emirates of RAK falls under the same rule, which offers tax exemptions to encourage aspiring industrialists to establish their businesses.

2. Dedicated Industrial Zones & Business Parks

RAKEZ emphasizes attracting additional interest from the business investors active globally. The segmented portions or zones committed to the activities of pertinent businesses like Manufacturing, Trading, Services, etc., are one of the phases the zone has developed. The most well-known industrial zones are as follows:

• Al Hulaila Industrial Zone
• RAKEZ Business Zone
• RAKEZ Academic Zone
• Al Hamra Industrial Zone

The province includes the following in terms of business parks:

• Business Parks: These areas are dedicated to corporations and other businesses.
• Industrial Parks: A resource for the vast manufacturing industry
• Academic Zones: This includes institutions of higher learning
• Technology Parks: For commercial and technical activities

3. Low Setup Cost

The United Arab Emirates is going in the right direction to attract more investors and establish itself as a global economic hub. Now that business setup costs vary by Emirates, you can experience a lower setup cost with various business establishment options in the RAK region.

When forming a business in RAKEZ, you can take advantage of the area's distinctive cost-saving opportunities. Depending on the operations performed, low, medium, and large-sized warehouses are available for usage by various businesses. Trading, manufacturing, storage, assembly, transport, utility, security, and other operations are performed. Therefore, regardless of the type or size of the organization, these bespoke solutions offer significant advantages to business investors.

4. Fast Business Establishment Process

After the cost aspect, the quick business setup process is the next quality that attracts business owners to create a business in RAK. However, it is advised to look for professional business experts familiar with the incorporation process to have a seamless incorporation process. The following business entities can be established in RAKEZ, though:

• Free Zone Establishment (FZE)
• Branch of a UAE Company
• Branch of a Foreign Company.
• Free Zone Limited Liability Company (FZ-LLC)
• Individual EstablishmentLimited Liability Company (LLC)

5. Easy Access to International Market & MENA Region

You will have multiple options to target the global market once you start a business in the RAK region. The MENA region ends up being one of the heavily targeted regions, and business owners make enormous earnings and accelerate their company growth. Other Emirates, Oman, Qatar, Bahrain, and other nations with open markets include. Let's now take a quick look at some industry information that will aid your decision-making.

How Can Global Biz Setup help?

Global Biz Setup is a one-stop solution for Rak Freezone business setup, registration, licensing, and visa processing. We have an experienced team that will assist you with company formation and every documentation support in RAKEZ or any other zone in UAE. Visit us to learn more about our services, and we will be happy to assist you.