Ras Al Khaimah Free Trade Zone

Last updated
Ras Al Khaimah Free Trade Zone (RAK FTZ)
Founded2000
Headquarters,
Area served
Global
Key people
His Highness Sheikh Ahmed bin Saqr Al Qasimi, Mohammadreza vazirian Chairman ASR Farasazan Pars, Group CEO
ProductsBusiness Licences, Offices, Warehouses and Land for Development
Website rakftz.com

Ras Al Khaimah Free Trade Zone (RAK FTZ) is a special economic zone in Ras Al Khaimah. RAK FTZ is around an hour drive from Dubai.

Contents

Overview

The free zone provides a tax-free environment, 100% foreign ownership, fast-track visas, freedom to source labour and materials globally, and ongoing business support services. [1] RAK FTZ provides these incentives at lower cost than free zones in other emirates. [2] [3]

RAK FTZ was established in May 2000 by an Emiri Decree. His Highness Sheikh Ahmed bin Saqr Al Qasimi is its chairman. [4]

RAK FTZ has four free zone parks in Ras Al Khaimah – a Business Park for office clients, an Industrial Park for heavy manufacturing, a Technology Park for trading and light manufacturing, and an Academic Zone for educational institutions. It has also representative offices in Turkey, India, and Germany. [5]

RAK FTZ organizes the Business Excellence Awards, and ABIYA was awarded the fastest growing company in 2015.

It has investments from more than 12,000 companies in over a hundred countries, representing more than 50 industry sectors. [6]

RAK FTZ Parks

Business Park

The RAK FTZ Business Park consists of five buildings – Business Centers 1 to 4, and the Administration Building. The Business Park is situated in the heart of Ras Al Khaimah's business district.

Industrial Park

The Industrial Park is located along the Ras Al Khaimah coastal road, approximately 18 km north of Ras Al Khaimah's city center, and immediately adjacent to Hulaylah Island. The park is about 6 km from Ras Al Khaimah's Saqr Port, covering an area of 128 hectares. It is developed for heavy industries and warehousing, and also incorporates energy supply. The park's facilities include on-site employee accommodations, a customs office, an operation supportive services center, as well as other administrative support and service centers.

Technology Park

Located south of Ras Al Khaimah's city center, the Technology Park is in close proximity to Dubai via Sheikh Mohammed bin Zayed Road (E311) and Ras Al Khaimah International Airport. Covering an area of 100 hectares, it is located opposite from Al Hamra Village and Resort.

Academic Zone

The Academic Zone comprises educational organizations that offer academic programs to the RAK and broader UAE communities. The main cluster of campuses is in Academic Zone 3, which is located in the Al Dhait area. Some educational organisations established under the free zone operate from separate campuses at assigned locations in Ras Al Khaimah. [7]

RAK FTZ International Offices

India

The RAK FTZ India Office in Mumbai officially began its activities in August 2005, making RAK FTZ the first UAE free zone to have a liaison office in India. Many of RAK FTZ's clients come from India.

Turkey

RAK FTZ's Turkey liaison Office was established in December 2007. It is located in Atasehir, on the Asian side of Istanbul, and is easily accessible from any location in Istanbul. RAK FTZ is the only UAE free trade zone with a liaison office in Turkey.

Germany

RAK FTZ's Germany liaison office was established in April 2008 in response to significant interest in the free zone from the German market. It is located at the MediaPark in Cologne. The office in Germany is the base for RAK FTZ's activities in central Europe.

RAK FTZ UAE Business and Promotion Centers

The Ras Al Khaimah Free Trade Zone Authority also has promotion centers in Dubai and Abu Dhabi.

Dubai

The RAK FTZ Promotion Centre in Dubai is located in the Boulevard Plaza Tower 2 on Sheikh Zayed Road.

Abu Dhabi

RAK FTZ also has a promotion center at Abu Dhabi Mall (Abu Dhabi). The office is located on the first floor of the West Tower.

See also

Related Research Articles

<span class="mw-page-title-main">History of the United Arab Emirates</span> Aspect of history

The United Arab Emirates is a country in the eastern part of the Arabian Peninsula located on the southeastern coast of the Persian Gulf and the northwestern coast of the Gulf of Oman. The UAE consists of seven emirates and was founded on 2 December 1971 as a federation, after UK armed forces left the region. Six of the seven emirates declared their union on 2 December 1971. The seventh, Ras al Khaimah, joined the federation on 10 February 1972. The seven sheikdoms were formerly known as the Trucial States, in reference to the truce treaties established with the British in the 19th century.

<span class="mw-page-title-main">Emirate of Ras Al Khaimah</span> Emirate and one of the constituents of the United Arab Emirates

Ras Al Khaimah (RAK) is one of the seven emirates that make up the United Arab Emirates (UAE). The city of Ras Al Khaimah, abbreviated to RAK or RAK City, is the capital of the emirate and home to most of the emirate's residents. It is linked to the Islamic trading port of Julfar. Its name in English means "headland of the tent". The emirate borders Oman's exclave of Musandam, and occupies part of the same peninsula. It covers an area of 2,486 km2 (960 sq mi) and has 64 km (40 mi) of beach coastline. As of 2015, the emirate had a population of about 345,000.

<span class="mw-page-title-main">Ras Al Khaimah International Airport</span> Airport in Ras al-Khaimah

Ras Al Khaimah International Airport is an international airport located in the Emirate of Ras al-Khaimah, United Arab Emirates 11 nautical miles south of Ras Al Khaimah, on the coast of the Persian Gulf. The airport has two passenger terminal buildings as well as cargo, aircraft maintenance, and aviation training facilities.

<span class="mw-page-title-main">E 11 road (United Arab Emirates)</span> Road in the United Arab Emirates

E 11 is a highway in the United Arab Emirates (UAE). The longest road in the Emirates, it stretches from the Al Batha border crossing at the Saudi Arabia–UAE border in al-Silah in the al-Dhafra region of the Emirate of Abu Dhabi and ends at the Oman–UAE border crossing of al-Darah in al-Jeer, Emirate of Ras al-Khaimah, running roughly parallel to UAE's coastline along the Persian Gulf. The road forms the main artery in some emirates' main cities, where it assumes various alternate names —Sheikh Maktoum Bin Rashid Road and Sheikh Khalifa bin Zayed Road in Abu Dhabi, Sheikh Zayed Road in Dubai, Al Ittihad Road in Sharjah Emirate and Ajman Emirate, and Sheikh Muhammad bin Salem Road in Ras al-Khaimah.

<span class="mw-page-title-main">E 311 road (United Arab Emirates)</span> Road in the United Arab Emirates

E 311 is a major road in the United Arab Emirates. It begins in New Al Falah in Abu Dhabi and extends north-eastward towards the Ras al-Khaimah emirate. E 311 has been called Sheikh Mohammad Bin Zayed Road since January 2013 and is commonly known as SMBZ Road. Prior to that it was called Emirates Road, but that name is now given to E 611, which was previously Dubai Bypass Road.

Emirates may refer to:

<span class="mw-page-title-main">Saqr bin Mohammed Al Qasimi</span> Ruler of Ras Al Khaimah

Sheikh Saqr bin Mohammed Al Qasimi was the Ruler of Emirate of Ras Al Khaimah from 1948 to 2010. On 10 February 1972, under his leadership, Ras Al Khaimah become the seventh Trucial State to join the United Arab Emirates.

Sheikh Khalid bin Saqr Al Qasimi is the former Crown Prince and Deputy Ruler of the Emirate of Ras Al Khaimah, the northernmost Emirate of the United Arab Emirates. He is the eldest son of Sheikh Saqr bin Mohammed Al Qasimi, who ruled Ras Al Khaimah from 1948 until his death in 2010.

<span class="mw-page-title-main">Trucial States</span> British protectorate 1820–1971 in Persian Gulf, precursor to United Arab Emirates

The Trucial States, also known as the Trucial Coast, the Trucial Sheikhdoms, Trucial Arabia or Trucial Oman, was the name the British government gave to a group of tribal confederations to the south of the Persian Gulf whose leaders had signed protective treaties, or truces, with the United Kingdom between 1820 and 1892.

<span class="mw-page-title-main">Higher Colleges of Technology</span>

The Higher Colleges of Technology(HCT) (Arabic: كليّات التقنيّة العليا) is a public institute of technology with 16 campuses and facilities throughout the United Arab Emirates. Founded in 1988 by Sheikh Nahyan bin Mubarak al-Nahyan, it is the largest applied higher educational institution in the country.

The dynasties of the United Arab Emirates consist of the six ruling families of the seven Emirates.

<span class="mw-page-title-main">Saud bin Saqr Al Qasimi</span> Ruler of Ras Al Khaimah

Sheikh Saud bin Saqr Al Qasimi is the current ruler of the Emirate of Ras Al Khaimah, one of the seven emirates of the United Arab Emirates. He became the chief of the ruler’s Emiri court in 1979, the head of the Municipal Council in 1986, and the Crown Prince and Deputy Ruler of the Emirate in June 2003. Then, he officially became the ruler of the Emirate of Ras Al Khaimah in 2010 after his father’s death.

Ras Al Khaimah Investment Authority (RAKIA) is a United Arab Emirates investment authority in the Emirate of Ras Al Khaimah. It issues licenses to operate within RAKIA owned special economic zones, provides business facilities and warehouses and provides investment funding.

<span class="mw-page-title-main">Ras Al Khaimah</span> Capital of the Emirate of Ras Al Khaimah, United Arab Emirates

Ras Al Khaimah (RAK) is the largest city and capital of the Emirate of Ras Al Khaimah, United Arab Emirates. It is the sixth-largest city in UAE after Dubai, Abu Dhabi, Sharjah, Al Ain and Ajman. The city is divided by a creek into two parts: old town in the west and Al Nakheel in the east.

The United Arab Emirates (UAE) is a relatively new country – it was formed in 1971. However, the history of the land that the UAE occupies dates back to the Neolithic Age, which is evidenced by inscriptions, drawings and archaeological finds uncovered in the seven emirates during the period from the early 1950s to the present day.

The political history of the United Arab Emirates covers political events and trends related to the history of the United Arab Emirates.

<span class="mw-page-title-main">Year of Zayed</span> 2018 centenary birth anniversary celebrations of Sheikh Zayed in the United Arab Emirates

Year of Zayed was observed throughout 2018 in the United Arab Emirates to celebrate the centenary birth anniversary of Sheikh Zayed bin Sultan al-Nahyan, the tribal leader and politician who founded the United Arab Emirates in 1971 and served as its inaugural president until his death in 2004. Sheikh Khalifa bin Zayed, his son and the-then president issued directives in 2017 that designated the consecutive year in honor of his legacy. It was held under four main themes, namely wisdom, respect, sustainability and human development.

References

  1. "RAK FTZ Business Formation" . Retrieved 8 Feb 2017.
  2. "RAK entices companies with low living costs | The National". Thenational.ae. Retrieved 2015-07-03.
  3. "Ras Al Khaimah Charts Its Own Economic Course – Middle East Real Time – WSJ". Blogs.wsj.com. Wall Street Journal. 2014-09-08. Retrieved 2015-07-03.
  4. "The RAK Free Zone". Business-Dubai.com. Retrieved 26 November 2015.
  5. "RAK Free Trade Zone Homepage". Rakftz.com. Retrieved 2015-07-03.
  6. "Setup a company in RAK Free Trade Zone".
  7. Swan, Melanie (July 7, 2014). "Pakistani university campus to open in RAK". The National . UAE. Retrieved 2015-07-03.