Mr. Wilson Chan · Mr. Wilson Chan Regional Director ... Consultancy/Service Industrial Business...
Transcript of Mr. Wilson Chan · Mr. Wilson Chan Regional Director ... Consultancy/Service Industrial Business...
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Opening Remarks
Mr. Wilson Chan
Regional Director,
Business Development of Ras Al Khaimah
Free Trade Zone Authority (RAK FTZ)
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WHY INVEST
IN RAK FREE
TRADE ZONE?
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RAK FREE TRADE ZONE AUTHORITY – KEY PROFILE
RAK FREE TRADE ZONE
The Ras Al Khaimah Free Trade Zone (RAK FTZ) is a cost-effective
gateway to a wide range of markets across Europe, North Africa, the
Middle East and South & central Asia. Its strategic geographical location
is well-positioned to help companies easily take advantage of the trade
flows between East and West.
Less than an hour’s drive from Dubai, RAK FTZ is one of the fastest-
growing free zones in the UAE, and it is the investment destination of
choice for more than 7,500 companies from over 100 countries,
representing more than 50 industry sectors.
Established in 2000 with a mandate to provide custom-made business
solutions, RAK FTZ furnishes its clients with a completely tax-free
environment, fast-track visas, freedom to source labour and materials
globally, and ongoing business support services such as advertising,
procurement, event management, recruitment and training assistance.
In addition to award-winning service, RAK FTZ provides the same free
zone benefits and top-notch facilities that are available elsewhere in the
UAE, but for substantially lower costs, allowing clients to maximise their
return on investment.
H.H. Sheikh Ahmad Saqer
Mohamed Al Qasemi
Chairman, RAK Free Trade Zone
Member of Ruling Family of the
Emirate of Ras Al Khaimah
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There are two main opportunities for starting a business in Ras Al Khaimah: Free
Zone and Non-Free Zone companies.
Non-Free Zone companies must be established as joint ventures with a UAE
national sponsor. Foreign investors are generally limited to 49% ownership.
Free Zone companies may be 100% foreign owned, and operate under more liberal
Free Zone regulations.
100% OWNERSHIP
Non-Free
Zone 51/49
ownership
Private
Joint Stock
Company
Limited
Liability
Company
Public Joint
Stock
Company
Joint
Venture
Free
Zone 100%
foreign
ownership
Free Zone
Company
Subsidiary
Free Zone
Enterprise Branch
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RAK FTZ OFFERS NUMEROUS BENEFITS TO ITS CLIENTS
Benefits
100%
Ownership
Value-Added
Services
Range of
Facilities to
Suit Business
Need
Flexible
Recruitment
(no quotas)
Ease & Speed
in Registering
Company
No Customs
Duty on
Re-Exported
Goods
No Taxation
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A streamlined customs system, featuring:
▸ Common customs GCC law stating that free zones are totally or partially excluded from standard
customs provisions
▸ A provision that goods may be admitted and transported to any other place within the country
without payment of the customs taxes
▸ A provision that all foreign goods may be imported into free zones, without being subject to customs
duties or taxes
▸ A provision that foreign goods may be exported from free zones to other countries or to other free
zones, without being subject to customs duties or taxes
▸ Customs services in RAK Free Zone Parks
NO TAXATION AND NO CUSTOMS DUTY
ON RE-EXPORTED GOODS
No taxation
No
corporate
tax
No sales tax
No personal
tax
No withholding
tax
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A COMPLETE RANGE OF SOLUTIONS & FACILITIES
TO FIT BUSINESS NEEDS
▸ Commercial
▸ General Trading
▸ Consultancy/Service
▸ Industrial
Business Licence Legal Entities
▸ Free Zone LLC (FZC/FZE)
▸ Foreign Branch
▸ Foreign Subsidiary
Facilities
▸ Flexi-Desk/Office
▸ Standard & Executive Offices
▸ Shell & Core Office
▸ Warehouse
▸ Land ready for development
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Unlike foreign labour restrictions enforced in other markets, the UAE has flexible
labour requirements, meaning you can optimize your business’ operations by;
▸ Sourcing the best talent (skilled and unskilled) to suit your needs from
anywhere in the world
▸ Without restriction on the number of foreign workers employed
▸ Without restriction on the duration of your workers’ employment terms
▸ Maximizing profits through the ability to source cost-effective labour globally,
across a range of costs and qualifications
▸ Leasing or building on-site labour accommodations
▸ Saving cost on transport
▸ Happier workers who don’t have to commute
▸ More efficient day-to-day operations
FLEXIBLE LABOUR
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RAK FTZ offers renewable three-year UAE residence visas for investors,
managers and workers which offer a range of benefits:
▸ Open a business and work in the Free Zone
▸ Border-free travel and residence within the UAE
▸ Obtain an Emirates Identity Card
▸ Open a bank account and apply for a P.O. Box
▸ Unlimited entry and exit at all points of entry within the UAE
▸ Easier travel between most GCC countries
▸ The ability to obtain an eGate card, for frequent travelers, to pass through
UAE airports electronically
▸ Ability to obtain a 10-year UAE drivers’ license, own a vehicle, register a
vehicle, lease accommodations and have utility services connected
VISAS
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RANGE OF FACILITIES AT RAK FTZ
FLEXI FACILITIES
▸ Shared work stations
▸ 5 hours usage per week
▸ Dedicated phone number
▸ Shared fax number
▸ Dedicated email account
▸ High-speed Internet network
▸ Company P.O. Box
▸ Eligibility for UAE residence visa
▸ Opportunity to upgrade to office
or warehouse at any time
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RANGE OF FACILITIES AT RAK FTZ
OFFICES FACILITIES
▸ Small to medium-sized private offices
▸ Accessible 24/7 and 24-hour security
▸ Advanced IT infrastructure with dedicated phone,
fax number, and email account
▸ Rent inclusive of utilities
▸ Eligibility for UAE residence visa
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RANGE OF FACILITIES AT RAK FTZ
WAREHOUSES
▸ Prefabricated units of 150 to 400 m²
▸ Suitable for storage of goods, light manufacturing and assembly
▸ Accessible 24/7 and 24-hour security
▸ Labour, forklifts and cleaning services (available at additional cost)
▸ Eligibility for UAE residence visa
▸ Utility connections
▸ Staff and labor accommodation available on site
▸ Proximity to highway, sea port and airport (excellent accessibility to
all emirates and neighboring countries)