What is RAK Media Free Zone?
RAK Media Free Zone comes under the mandate of Emirate's Investment Authority and issues licenses for a company setup to animation studios, television channels, computer graphics houses, media establishments, studios for audio-visual productions, etc.
What is RAK Investment Authority?
RAK Investment Authority is a sought-after free zone for companies belonging to real estate, manufacturing, mining, tourism, trade and commerce, construction, food processing, warehousing, and maritime services.
What is the norm on licences in RAK Free Trade Zone?
RAK FTZ requires companies in its jurisdiction to obtain trade or business licence before undertaking any activity. The licence issued by RAK FTZ is subject to yearly renewal, for which the company should submit their audit reports.
What are the economic advantages of setting up a business in RAKEZ?
A company in RAKEZ is 100% tax free, allows 100% foreign ownership, 100% repatriation of capital and profits, long term corporate tax exemption, exemption from import and export duties, and economical rental office spaces.
Is it mandatory to have a local resident director for registering a company in RAKEZ?
No. Neither a resident director nor a resident shareholder is required for registering a company in RAKEZ. Companies registered in the Ras Al Khaimah Free Zone can be 100% foreign owned.
What kinds of business entities can be set up in RAKEZ?
A company in RAKEZ can be a Free Zone Establishment (FZE) or a Free Zone Company (FZC). An FZE can have only 1 shareholder whereas an FZC can have between 2 to 5. Foreign companies can open a branch in RAKEZ provided the parent company is over 1 year old.
Which documents are required for setting up a company in RAKEZ?
For registering a business in RAKEZ, one is required to submit copies of passports od shareholders, directors and managers, incorporation forms, a project description, company M&AA, and requisite bank deposit, to RAKEZ free zone authority.
What is the infrastructure in RAKEZ like?
RAKEZ is home to several business towers, executive residences, customized real estate for leasing, has advanced communication facilities, and already built warehouses and industrial units with necessary equipment and furniture.
What is the norm on licences in RAK Media City?
RAK Media City requires the companies in its jurisdiction to obtain trade or business license before undertaking any activity. The license issued by RAK Media City is subject to yearly renewal, for which the company should submit their audit reports.
Is it mandatory to have a local resident director for registering a company in RAK Media City?
No. Neither a resident director nor a resident shareholder is required for registering a company in RAK Media City. Companies registered in the Ras Al Khaimah Free Zone can be 100% foreign owned.