Why Set Up a Business in RAK Free Zone?
Ras Al Khaimah witnessed an influx of foreign investors as it is one of the most developed economies in the Emirates that have seen tremendous economic development. Liberal government policies, state-of-the-art infrastructural development, a thriving economy, and friendly trade relations with neighboring countries are some of the many factors that attract major foreign investment in RAK free trade zones.
Apart from this, another reason why you should consider setting up a business in RAK free trade zone is that having a physical presence in the Emirate builds trust among the natives and helps in forging long-term customer relationships and obtaining trade contacts in the UAE.
Apart from this, there are many incentives enjoyed by investors in RAK free zone company formation:
- No tax on personal or corporate income
- No foreign exchange controls, quotas, or trade barriers
- No customs duty on import, export, or services
- Hassle-free and business-friendly legal framework and company laws that ensure the security of investment
- Government-sponsored incentives for investors
- 100% ownership
- 100% tax exemption on all commercial levies for import and export
- 100% return on capital and profits
- Business-friendly environment and easy process to set up a company
- Access to all large airports and seaports in the UAE