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The Ras Al Khaimah Free Trade Zone (RAK FTZ) is situated an hour’s drive from Dubai. However, it is doing extremely well with over 7,500 registered companies from over 100 countries.
While it offers standard free trade zone benefits such as 100% foreign ownership and absence of income and corporate taxes, the reason many are choosing it over the other free zones in popular emirates is its sheer cost competitiveness.
Moreover, the cost of living in Ras Al Khaimah is far lower than in Dubai or Abu Dhabi. This dual advantage is a lucrative proposition for companies battling escalating costs which they are unable to pass on to the consumers.
RAK FTZ is spread over four industrial zones boasting different office space such as standard furnished offices, executive offices as well as customizable shell and core office spaces.
For storage needs, warehouses of different sizes with 24-hour security and support system are available. RAK FTZ also provides land for industrial development located close to the seaport.
Other than providing consultancy and industrial licenses, registering support, offering flexible and tailored offices, warehouses and land, RAK FTZ also provides value-added services such as advertising, procurement, event management, recruitment and learning, and development assistance for its clients.
Named as one of the top seven free trade zones in the Middle East, RAK FTZ has international offices in Germany, Turkey and India as well as promotion centers in Dubai and Abu Dhabi to provide assistance to clients.
Setting up in the free zone is easy. One just has to select a business package, complete the application form and submit all the supporting documents.
• RAK FTZ is one of the top seven free zones in the Middle East
• It has offices in Germany, Turkey and India and centers in UAE
• It offers cost advantage over the other free zones in the country
Source: Dipshikha Mitra, Special to Properties
The writer is a freelancer