Overview of RAK Maritime City
RAK Marine City (RAKMC) was established as a Free Zone by Emiri Decree in December 2009, which also affirmed the new maritime city's limits. The advantages are as varied as the options. The RAK Maritime City free zone combines the best in international port infrastructure with intrinsic commercial benefits for enterprises looking for cost-effective, secure, transparent, and tailored business solutions with the greatest in tax incentives. Retail, warehousing, general freight handling, industrial production and manufacture, tank storage, and shipbuilding or repairs will all be zoned in RAK Maritime City.
Each will be able to form businesses as FZE and FZC firms, as well as choose from a variety of trading licenses, work permits, and UAE residency visas. RAK Marine City is your maritime entry into the area, with extensive land expansion available for individual firms, excellent access to a range of markets, cheap operating expenses, and total business support in all your initiatives.
Both FZE and FZCo permits will be issued by the RAKMC Free Zone. RAKMC will also grant work permits and resident visas. There are two types of plots in the Free Zone:
- Sites with a linear quay length as part of their boundaries and exclusive use of that quay.
- Plots with no direct access to the sea and are located outside of the harbor area.
Retail, warehousing, general cargo handling, industrial production and manufacturing, and ship building and maintenance are all zones within RAKMC. Plots with a minimum size of 25,000 sqm are available. Plots with an exclusive dock / jetty of 100 linear meters, on the other hand, will require a minimum leased area of around 40,000 square meters. Leases are available for 25 years with the option to renew for another 25 years. Leases with terms of up to 99 years will be considered.
A Quick Overview of RAK Maritime City's Facilities
The RAK Maritime City functions as a free zone as well as an international port. The Free Zone provides businesses with a cost-effective and secure choice as well as exceptional customer service. With its state-of-the-art industrial and maritime complex, efficient logistics and industrial infrastructure, and other world-class facilities, it attracts investors from all over the world. The RAK Maritime City is divided into plots to accommodate enterprises such as retail, warehousing, general freight handling, industrial production and manufacture, and shipbuilding and repair.
Company formation in RAK
The Emirates of Ras Al Khaimah (RAK), the UAE's secret treasure, is a mesmerizing length of golden beaches, terracotta desert, backed by the untamed mountains of Hajar and an ocean of Bedouin Oasis, just outside the shadow of Dubai's ostentatious skyscrapers. The Al Qawasim Corniche, a paved boulevard with shops, benches, and restaurants fronting the creek, is overlooked by the pearly-white and multi-domed Sheikh Zayed Mosque. RAK is also the entry point to Oman's magnificent Musandam Peninsula. From lush date palm havens to slithering dunes and the unmistakable Rocky Mountains, this emirate features some of the country's most diversified landscapes.
A corporation or individual intending to conduct business in the RAK Maritime City can register in one of the four legal forms available:
- Establishment of a Free Zone.
- Company that operates in a free zone.
- Local Branch- Branches in the area
- Foreign Branch - Branches in other countries.
The Advantages of Starting a Business in the RAK Maritime City
The strategic position of RAK Maritime City is the most essential advantage that business owners might have when establishing a company here. The Saqr Port, the Middle East's largest bulk commodity port, is conveniently located near the Free Zone. The RAK International Airport is next to the Free Zone, which gives great local access to the UAE's road network. The following advantages can be gained by establishing a business in the RAK Maritime City:
- Foreign ownership is 100 percent.
- Lease arrangements that are long and stable.
- Plot sizes can be customized to fit specific business needs.
- The method for establishing a firm is simple and inexpensive.
Types of License available in RAK Maritime City
These licenses are only valid within RAK Maritime City; they are not permitted to operate outside of RAKMC.
General Trading License
A Commercial License can be used to obtain a General Trading License, which allows for more than seven product lines.
This permit allows the owner to import, export, trade, issue, and stockpile the items listed on the license. If the finished items are sold in the UAE market, the license holder will do so through a local agent or distributor. A similar business activity group can have up to seven activities.
The owner of an industrial license can import raw materials for manufacturing, processing, and gathering defined products. The finished goods could be sold outside of the UAE. In order to sell in the UAE, you'll need to work with a distributor or a local agency.
How will Dhanguard Assist you?
DhanGuard offers effective end-to-end solutions to businesses looking to establish a presence in the RAK Maritime City. Dhanguard’s business setup experts provide dependable and effective services to firms looking to invest in RAK Maritime City, whether it's a new firm or a local or international branch. Thousands of clients have relied on Dhanguard’s highly experienced team of business setup advisors to guide them through the whole process of business creation, from getting permits to company incorporation.
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