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Ras Al Khaimah Free Trade Zone has registered more than
4,100 companies from 85 countries.
Ras Al Khaimah Free Trade Zone (RAKFTZ) has created a name for itself around the world. "Ras Al Khaimah Free Trade Zone (RAKFTZ) offers customised support services to its investors. It is one of the most cost effective free zones in the region and most importantly, it offers an absolutely trouble-free, customer-friendly environment, which is very important for the success of any enterprise," says Oussama El Omari, CEO of RAKFTZ.
It has registered more than 4,100 companies from 85 countries. "Our range of customers include investors from the Middle East (Lebanon, Syria, Egypt, the UAE, Iran and Turkey) Europe (France, Germany, Australia, Sweden Switzerland and Italy), North America and Asia just to mention a few," says El Omari.
The RAKFTZ International Companies Regulations 2006 was introduced to register and govern offshore companies in the RAK Free Zone.
According to El Omari, the RAK International Registry has sparked interest throughout the UAE and overseas and has proved successful in incorporating a large number of international companies since its launch in October 2006.
The free zone now hosts several successful international companies. In addition to not paying any taxes and duties and the usual advantages of being in any other free zone in the UAE, RAKFTZ also allows companies to transfer shares easily and does not insist on record keeping, minimum share or public disclosure of information.
"Companies have to pay minimal government and registered agent costs and are sure of confidentiality and protection. They can also reserve a company name for up to 90 days among other advantages," says El Omari.
Offices in neighbouring Dubai and Abu Dhabi offer the RAKFTZ a regional perspective, and its clients a broader sounding board for wider investments. Plans to open a representative office in New York are at an advanced stage.
"We are on track towards establishing an office in the United States We want to get closer to people and familiarise them with the UAE in general, to let them know that we are a peaceful, friendly country and easy to do business with. We will promote investment opportunities in the UAE as well as in the wider region, which represents over two billion consumers.
"The role of the zone is not only to attract investments, but also to increase the local knowledge base and human capital, as well as to further the economic development of the emirate," says El Omari.
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