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Benefits of Setting Up a Free Zone Company in RAK
12 Apr 2023
read
Business
Explore the key advantages of starting a free zone company in RAK FTZ, including 100% ownership, tax exemptions, and strategic market access.
Foreign investors looking to establish their companies or expand their business overseas can benefit greatly from setting up a free zone company in a foreign country. A free zone company is a business entity that operates within a designated free trade zone, offering a range of advantages over traditional business structures. In this blog, we will explore the many free zone benefits of
setting up a free zone company
, specifically in the Ras Al Khaimah, United Arab Emirates.
Benefits of a
UAE free zone company
There are several main benefits of setting up and operating your business in free zones. Listed below are the five main advantages:
100% foreign ownership
One of the most significant advantages of setting up a free zone company is that foreign investors can own 100% of the company without requiring a local sponsor or partner. This means that investors can maintain complete control over their business setup in RAK free zone and make strategic decisions without any external interference.
Tax exemptions
As of now, the free zone companies in Ras Al Khaimah have been enjoying complete tax exemptions, including corporate tax, personal income tax, and import and export duties. However, starting June 2023, companies with an annual profit turnover of more than AED 375,000 will be required to pay a corporate tax of 9%. And this is still one of the lowest corporate tax rates in the world, emphasising the RAKEZ free zone corporate tax benefits. This is a huge advantage for foreign investors looking to minimise their operating costs and maximise their profits.
No currency restrictions
Another benefit of setting up a
Rak free zone
company setup is that there are no currency restrictions. Investors can freely repatriate all of their profits and capital without any restrictions or barriers, making it easier to manage their financial operations.
Easy company setup
Starting a business in a free zone like Ras Al Khaimah is relatively straightforward, with a streamlined registration process and minimal paperwork. This makes it easier and more cost-effective for investors to start their Rak freezone business setup quickly and efficiently.
Access to global markets
Free zone companies in Ras Al Khaimah have access to a vast network of global markets, including Europe, Asia, and Africa. This makes it easier for businesses to expand their operations and reach new customers, ultimately leading to increased profitability and success.
Get started
Setting up a free zone company in Ras Al Khaimah, UAE offers a range of benefits for foreign investors. From complete ownership to RAKEZ free zone corporate tax benefits, easy
freezone business licence
acquisition, and access to global markets, free zone companies provide a unique opportunity for businesses looking to expand overseas.
If you are a foreign investor looking to start a business in the UAE, consider setting up a free zone company for the best possible outcome. You can start the journey of setting up your UAE free zone company by getting in touch with the business setup experts at Ras Al Khaimah Economic Zone (RAKEZ).
RAKEZ is already a preferred business hub for more than 16,500 companies operating in 50 different sectors. The economic zone had dedicated industrial, business and educational zones with customizable catering to various types of businesses. Its one-stop shops provided all the assistance you require with business setup in RAK free zone, from governmental approvals, to documentation, visas and much more. That is not all! RAKEZ also provides business support services such as accounting and bookkeeping, marketing, recruitment, etc. The support provided at RAKEZ ensures that you can operate your business with ease, while trusting them to ensure all your company-related formalities are in check.
Contact details are below:
Phone:
+971 7 204 1111
Email:
info@rakez.com
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