The freedom and ease of business provided by the free zone establishment and the government causes the businesses to help the community back. This initiative by the government and the free zone have caused more local and international investors to take interest in the businesses of UAE. This has caused a lot of entrepreneurs to come up with creative ideas to drive the business in the UAE forward.
In the free zone, you can get a residency visa quicker than usual. The RAK free zone business setup gives you the freedom to get labor.
If you establish your company in the RAK free trade zone, you can have 100% foreign ownership. This is a relief to many businessmen because now they don’t have to go through the trouble of getting sponsors. Instead, the business on the free zone of the RAK can sell in the local markets through a local agent.
No Taxes on Profit
People that opt for establishing their business at the RAK free trade zone don’t have to pay taxes on their income and profit. Which means that your company can keep the entire profited sum and then use it to increase services and their qualities.
The RAK free zone encourages getting a proper office space. You can rent out an office in one of the buildings built for this purpose. Apart from an office space, the free zone can also provide great storage facilities.
Set Up Costs
In this specific free zone, the setup cost is lower than other emirates. So, it is natural that many entrepreneurs are attracted to this free zone with a low starting capital. Once you are all set, you can easily prevail the various services the free zone provides.
No Repatriation Tax
The company established in this free zone doesn’t need to pay taxes during capital repatriation. Moreover, the company doesn’t have to pay profit repatriation tax either. This tax-free system makes sure that the success rate is increased.
These were some of the prime benefits of setting up at RAK free zone. This is the best possible way for new organizations to get their business going because of its tax-free environment and the availability of space when needed. There are several other benefits which you acquire when setting up your new company in this free zone.