Ras Al Khaimah Maritime City

Setup Business in Ras Al Khaimah Maritime City
Ras Al Khaimah Maritime City

Founded in 2009, Ras Al Khaimah Maritime City Free Zone is the latest and most advanced maritime free zone to open in the United Arab Emirates, born from the vision of H.H. Sheikh Saud Bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, RAK Maritime City Free Zone is a project of huge dimensions, which in turn will have a long lasting impact on the maritime industry across the region.

Its state-of-the-art port facility in the Emirate of Ras Al Khaimah is a project that covers 8 million square meters of strategically located coast land, combining a dedicated harbour, access to deep water berths in the future, 5 kilometers of new quay wall, exclusive private jetties, deep harbour entrance, plus a variety of plots for industrial, commercial and general trading businesses.

Ras Al Khaimah Maritime City allows two legal structures for conducting a business:

  • Free Zone Limited Liability Company (FZ-LLC): a separate legal entity, with shareholders as individuals and/or corporates. The minimum capital requirement for incorporation depends on the business activity.

  • Branch of Foreign or UAE Company: a legally dependent entity that is part of the parent company. It conducts all or some of the operations inherent in the parent’s business. Share capital is not required.

Licensing options:

  • Commercial License: allowing the holder to import, export, sell, distribute and store items specified on the license. If the finished products are sold in the UAE market then the license holder will need to do this through a local distributor or a local agent. Up to seven activities under a similar business activity group.

  • General Trading License: it can be obtained under a Commercial License, which allows for more than seven product lines.

  • Industrial License: allowing the holder to import raw materials for the purpose of manufacturing, processing and/or assembly of specified products. The finished products may be exported outside the UAE. Sales in the UAE market must go through a distributor or a local agent.

Ras Al Khaimah Maritime City Benefits:

  • 100% corporate tax exemption

  • 100% personal income tax exemption

  • 100% foreign company ownership

  • 100% repatriation of capital and profits

  • Dedicated areas for specific business sectors

  • Low operating costs

  • Easy access to strategic markets in the MENA Region

  • Proximity to seaport

  • Strategic location

For more information, please visit http://www.rakports.ae/rmc.php

Contact us today to setup your business in RAK Maritime City!