RAK Maritime City (RMC) was created as a free zone by Emiri Decree in December 2009. It offers international port facilities and business services for companies seeking an efficient and secure environment for their operations. With different zones for retail, warehousing, cargo handling, industrial production and manufacturing, tank storage and shipbuilding or repairs, RAK Maritime City offers a variety of facilities for businesses from a variety of industries. The free zone seeks to attract businesses as a one-stop-shop with the benefits of a free zone environment, state of art, 21st-century harbor infrastructure within a developed and established port.
RAK Maritime Zone covers an area of several million square meters divided into zoned plots which can accommodate businesses of varying size and across multiple industrial sectors. It is strategically positioned near the Strait of Hormuz and therefore has a unique advantage in terms of fuel cost savings for tenants and its ports functionality and features.
Benefits of Setting Up a Company in RAK Maritime City
- 100% company ownership
- 100% tax exemption
- 100% foreign investment
- No customs duties and tariff
- Access to high-end infrastructure and communication
- Access to global market
- 100% repatriation of profits and capital
- Flexible policies for hiring a foreigner
- Easy business formation regulations
Types of Licenses in RAK Maritime City
There are 3 main types of licenses available in RAK Maritime City:
1. Commercial License
This license allows the holder to import, export, sell, distribute, and store items specified on the license.
2. General Trading License
A General Trading License can be obtained under a Commercial License, which allows for more than seven product lines.
3. Industrial License
This license allows the holder to import raw materials for the purpose of manufacturing, processing, and/or assembly of specified products.
Types of Legal Entities in RAK Maritime City
A company wishing to set up a business in RAK free zone can be registered as one of the following legal entities:
- Free Zone Establishment
- Free Zone Company
- Local Branch
- Foreign Branch