Due to a lot of opportunities in rak free zone business setup, people find it more beneficial to set up their businesses there. Not just that foreign investors can have ownership of 49 per cent but also there are a lot of other facilities as well. The opportunities of companies in Ras al Khaimah free zone have made the foreign investors realize how beneficial it is for them to open their business setup in Ras al Khaimah.
Opportunities Regarding Investment
There are investment opportunities for the investors as they can provide the following services to the people in the best manner.
Services which can be provided in RAK free zone by the foreign investors are as follows:
- Agricultural services
- Health services
- Tourism services
- Educational services
- Information technology and technical work services
- Consultancy services
- Sport and allied services
- Industry and Cultural services
- Natural resources exploitation services
Also, properties can be bought by the foreign investors in different areas of UAE. This acts as an additional advantage for the people thinking about investing in UAE.
All of the above-mentioned services can be provided by the foreign investors in RAK. If they do it all with passion, they can easily flourish their businesses in UAE with great public appreciation. So, if you also want to get the appreciation from the public because of your products and services, you can easily do that here in RAK. This is way more opportunistic than you think it is
There are huge chances of making your business flourish in UAE as there is a lot of facilities that are being provided to the people of RAK.
Fewer Utility Charges
The utility charges are comparatively lower in RAK so you will not have to pay huge bills.
No Tax on Imports
If anything is imported from any other country, there won’t be any tax applied to it. Importing can be quite an issue for the people if there are tax implementations on them. This is because, due to tax applied, the goods will become really expensive for the people to buy. Therefore, VAT has been exempted for the people who import stuff from other countries in UAE.
No Income Taxes
The individuals will not have to pay income tax in rak free zone company formation.
No Quantitative Quota
On imports, there won’t be any implementation of the quantitative quota.
The lands will be provided to the people on very easy lease payments in case of industrial purposes.
No Currency Exchange Restriction
If anyone has to change their currency from one to another, there won’t be any restriction for them regarding that. This will make the currency exchange easier for the people.
In the case of immigration and residence for the employees, there would be flexible laws. This will make the employees work in a peaceful environment.
Due to flexible laws, you would be able to mould the things in your way. If you like them to be in one way, you would not feel problems because of the rules and regulations. But still, note that every free zone has its own proper laws and regulations and the people who do business there should obey all of them without creating any fuss.
Easy Permits for Residence
People who want permits for residence will be provided that in an easy way. Also, the residence can be provided for the family members as well.
Residence becomes an issue for the businessmen in so many other places when they do not get a place to live in. This is not the case in RAK FREE TRADE ZONE. Here you will be able to get the residence with easy processing. Also, the residence will be allotted to not just you but also your family which is again a plus point of RAK.
The company incorporation process will be made easier for the people.
In other places, this is the most difficult step because there are so much complex processing systems which the investors have to carry out in order to open their business setup anywhere. fortunately, this is not the case with the business setup in Ras al Khaimah free zone. There the processing systems are really easy.
With all the facilities and benefits we have mentioned above, people are really looking forward to investing in RAK to flourish their businesses to a great extent. This will not only help the investors in flourishing their businesses but also the RAK government will be able to increase the economy of the free zone as well. So, it is a two-way game which will work for the benefits of all the related parties. If you see the potential for your business in RAK free zone, then this is the best time to invest in there. FAR consulting Middle East providing business setup services since 1985. Book a free consultation today!