Why Ras Al Khaimah Economic Zone (RAKEZ) is Ideal for Business Setup

Ras Al Khaimah (RAK), one of the seven emirates of the UAE, is emerging as a prime destination for business setup, thanks in large part to the Ras Al Khaimah Economic Zone (RAKEZ). Established to provide a conducive environment for various industries, RAKEZ offers an array of benefits for entrepreneurs and investors. In this blog, we will explore the key reasons why RAKEZ is an ideal choice for business setup in the UAE.

1. 100% Foreign Ownership One of the most appealing aspects of RAKEZ is the provision for 100% foreign ownership. Entrepreneurs can set up their businesses without the need for a local partner, allowing for complete control over operations and decision-making. This is particularly advantageous for international investors looking to establish a foothold in the UAE.

2. Diverse Business Activities RAKEZ supports a wide range of business activities, including trading, manufacturing, logistics, and services. This flexibility enables businesses to choose their preferred industry and scale their operations according to market demands. Whether you're a startup or an established enterprise, RAKEZ provides the framework for growth across various sectors.

3. Competitive Pricing and Flexible Packages RAKEZ offers competitive pricing and a variety of business setup packages tailored to meet different business needs. These packages include options for startups, SMEs, and large corporations, making it easier for entrepreneurs to find a solution that fits their budget. With no hidden fees, businesses can benefit from transparent pricing structures that help them plan effectively.

4. Strategic Location and Infrastructure Located near major transportation hubs, including the Ras Al Khaimah International Airport and the Port of Saqr, RAKEZ provides excellent connectivity for trade and logistics. The zone is strategically positioned to access both regional and international markets, making it an attractive option for businesses looking to expand their reach.

5. Business-Friendly Environment RAKEZ is dedicated to fostering a business-friendly environment. The economic zone is equipped with state-of-the-art infrastructure and facilities, including modern office spaces, warehouses, and industrial units. Additionally, the regulatory framework is designed to streamline the setup process, enabling businesses to establish operations quickly and efficiently.

6. Tax Benefits Businesses operating in RAKEZ can take advantage of significant tax benefits, including: • Zero personal income tax • No corporate tax for the first 15 years (renewable for an additional 15 years) • No import or export duties These tax incentives create a favorable financial environment for businesses, allowing them to retain more of their profits for reinvestment and growth.

7. Access to a Supportive Business Community RAKEZ is home to a diverse community of businesses, ranging from startups to multinational corporations. This ecosystem fosters collaboration, networking, and knowledge sharing among entrepreneurs. By being part of this dynamic community, businesses can access valuable resources, partnerships, and support that can contribute to their success.

8. Skilled Workforce Availability Ras Al Khaimah offers access to a skilled and diverse workforce, making it easier for businesses to find qualified employees. The emirate is committed to developing talent through various educational initiatives and training programs, ensuring that companies have the human resources needed to thrive.

Let’s grow together Ras Al Khaimah Economic Zone (RAKEZ) presents a compelling option for entrepreneurs and businesses looking to establish themselves in the UAE. With benefits such as 100% foreign ownership, diverse business activities, competitive pricing, strategic location, tax advantages, and a supportive community, RAKEZ stands out as an ideal choice for business setup. At ICB Tax Consultancy, we are here to guide you through the process of establishing your business in RAKEZ, ensuring a seamless and successful set-up experience.