Ras Al Khaimah Investment Authority (RAKIA) was formed in 2005 with the primary mission to attract and facilitate foreign investment in the emirate of Ras Al Khaimah. RAKIA is one of the cost effective Free Zones in UAE with the Emirate of Ras Al Khaimah offering infrastructural facilities at rates comparatively lower in UAE.
The RAK Investment Authority (RAKIA) was constituted as per Emiri Decree No. (2)/ 2005 issued by H.H. Sheikh Saqr Bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah. The mandate for the authority is to work towards reinforcing the investment climate in the emirate and to promote its various economic sectors.
Ras Al Khaimah Investment Authority Free Zone is located in Ras Al Khaimah which is the northern Emirates of UAE. Ras Al Khaimah Investment Authority Free zone has a unique geographic and time zone advantage backed by a secure and fully convertible currency and a multi-access to neighboring and global countries through land, sea and air. RAKIA is a hub for global investment established attracting investments from the domestic and foreign markets that will create wealth and raise the standard of living for the people of Ras Al Khaimah.
Established in 2005, RAKIA has greatly exceeded the expectations in its fundamental responsibility of promoting the socioeconomic growth of the emirate. In fact, Ras Al Khaimah has now emerged as one of the fastest growing economies in the region, and are poised to achieve even more success as RAKIA continues to implement and conceptualize new and innovative development initiatives across the emirate and beyond.
RAKIA provides various cost effective options for business registration aimed to promote start up, small and medium enterprises promising potential growth. The Free Zone also has the infrastructure to accommodate bigger enterprises, which includes standard offices and lands for development.
The investors setting up their business in RAKIA enjoy all the following incentives provided at UAE Free Zones
An individual or a corporate entity can set up and do business in RAKIA being registered in any of the following legal forms:
Setting up a business in RAKIA requires planning and decision making through different phases. This involves deciding the business activity and confirming with RAKIA, choosing legal structure for business, estimating required human work force, type of office facility required etc. as per your business setup requirements. A company being formed may have either an individual as shareholder or corporate as shareholder or both. The business setup process requires the shareholders to sign the documents in the presence of RAKIA representatives.
RAK Investment Authority issues the following types of license options for business setup.
General Trading License: allows the companies to import, distribute and store all goods as per RAKIA rules and regulations.
Commercial Trade License: allows trading (activities related to import, export and distribution) of products specified in license subject to the regulations of RAKIA.
Service License: allows the registered entity to carry out specified services like lawyers, accounting firms and business consultants.
Industrial License: allows importing raw materials, carrying out the manufacture of specified products, process, assembling, packaging and exporting the finished product to any country.
RAKIA Free Zone Facilities