Opening Remarks. Mr. Wilson Chan. Regional Director, Business Development of Ras Al Khaimah Free Trade Zone Authority (RAK FTZ)

Transcription

1 Opening Remarks Mr. Wilson Chan Regional Director, Business Development of Ras Al Khaimah Free Trade Zone Authority (RAK FTZ) 1

2 WHY INVEST IN RAK FREE TRADE ZONE? 2

3 RAK FREE TRADE ZONE AUTHORITY KEY PROFILE RAK FREE TRADE ZONE The Ras Al Khaimah Free Trade Zone (RAK FTZ) is a cost-effective gateway to a wide range of markets across Europe, North Africa, the Middle East and South & central Asia. Its strategic geographical location is well-positioned to help companies easily take advantage of the trade flows between East and West. H.H. Sheikh Ahmad Saqer Mohamed Al Qasemi Chairman, RAK Free Trade Zone Member of Ruling Family of the Emirate of Ras Al Khaimah Less than an hour s drive from Dubai, RAK FTZ is one of the fastestgrowing free zones in the UAE, and it is the investment destination of choice for more than 7,500 companies from over 100 countries, representing more than 50 industry sectors. Established in 2000 with a mandate to provide custom-made business solutions, RAK FTZ furnishes its clients with a completely tax-free environment, fast-track visas, freedom to source labour and materials globally, and ongoing business support services such as advertising, procurement, event management, recruitment and training assistance. In addition to award-winning service, RAK FTZ provides the same free zone benefits and top-notch facilities that are available elsewhere in the UAE, but for substantially lower costs, allowing clients to maximise their return on investment. 3

4 100% OWNERSHIP There are two main opportunities for starting a business in Ras Al Khaimah: Free Zone and Non-Free Zone companies. Non-Free Zone companies must be established as joint ventures with a UAE national sponsor. Foreign investors are generally limited to 49% ownership. Free Zone companies may be 100% foreign owned, and operate under more liberal Free Zone regulations. Private Joint Stock Company Free Zone Company Joint Venture Non-Free Zone 51/49 ownership Public Joint Stock Company Branch Free Zone 100% foreign ownership Free Zone Enterprise Limited Liability Company Subsidiary 4

5 RAK FTZ OFFERS NUMEROUS BENEFITS TO ITS CLIENTS 100% Ownership Value-Added Services No Taxation Range of Facilities to Suit Business Need Benefits No Customs Duty on Re-Exported Goods Flexible Recruitment (no quotas) Ease & Speed in Registering Company 5

6 NO TAXATION AND NO CUSTOMS DUTY ON RE-EXPORTED GOODS No taxation No corporate tax No sales tax No personal tax No withholding tax A streamlined customs system, featuring: Common customs GCC law stating that free zones are totally or partially excluded from standard customs provisions A provision that goods may be admitted and transported to any other place within the country without payment of the customs taxes A provision that all foreign goods may be imported into free zones, without being subject to customs duties or taxes A provision that foreign goods may be exported from free zones to other countries or to other free zones, without being subject to customs duties or taxes Customs services in RAK Free Zone Parks 6

7 A COMPLETE RANGE OF SOLUTIONS & FACILITIES TO FIT BUSINESS NEEDS Business Licence Legal Entities Facilities Commercial General Trading Consultancy/Service Industrial Free Zone LLC (FZC/FZE) Foreign Branch Foreign Subsidiary Flexi-Desk/Office Standard & Executive Offices Shell & Core Office Warehouse Land ready for development 7

8 FLEXIBLE LABOUR Unlike foreign labour restrictions enforced in other markets, the UAE has flexible labour requirements, meaning you can optimize your business operations by; Sourcing the best talent (skilled and unskilled) to suit your needs from anywhere in the world Without restriction on the number of foreign workers employed Without restriction on the duration of your workers employment terms Maximizing profits through the ability to source cost-effective labour globally, across a range of costs and qualifications Leasing or building on-site labour accommodations Saving cost on transport Happier workers who don t have to commute More efficient day-to-day operations 8

9 VISAS RAK FTZ offers renewable three-year UAE residence visas for investors, managers and workers which offer a range of benefits: Open a business and work in the Free Zone Border-free travel and residence within the UAE Obtain an Emirates Identity Card Open a bank account and apply for a P.O. Box Unlimited entry and exit at all points of entry within the UAE Easier travel between most GCC countries The ability to obtain an egate card, for frequent travelers, to pass through UAE airports electronically Ability to obtain a 10-year UAE drivers license, own a vehicle, register a vehicle, lease accommodations and have utility services connected 9

10 RANGE OF FACILITIES AT RAK FTZ FLEXI FACILITIES Shared work stations 5 hours usage per week Dedicated phone number Shared fax number Dedicated account High-speed Internet network Company P.O. Box Eligibility for UAE residence visa Opportunity to upgrade to office or warehouse at any time 10

11 RANGE OF FACILITIES AT RAK FTZ OFFICES FACILITIES Small to medium-sized private offices Accessible 24/7 and 24-hour security Advanced IT infrastructure with dedicated phone, fax number, and account Rent inclusive of utilities Eligibility for UAE residence visa 11

12 RANGE OF FACILITIES AT RAK FTZ WAREHOUSES Prefabricated units of 150 to 400 m² Suitable for storage of goods, light manufacturing and assembly Accessible 24/7 and 24-hour security Labour, forklifts and cleaning services (available at additional cost) Eligibility for UAE residence visa Utility connections Staff and labor accommodation available on site Proximity to highway, sea port and airport (excellent accessibility to all emirates and neighboring countries) 12