RAKIA's mission is to construct and administer industrial parks in Ras Al Khaimah's Al Hamra and Al Ghail districts, including free zones and industrial zones. Free trade zones have historically been seen as real estate initiatives in this region, primarily distributing permits; however, RAKIA went above and beyond, not only providing facilities but also providing investment consulting services and ownership involvement in chosen projects. This has created a trusting environment among investors and a strong network of opportunities. As a result, within three to four years of its founding, RAKIA has been pivotal in attracting over US$2.5 billion in industrial investments alone, fueling an extraordinary economic surge that has positioned Ras Al Khaimah as one of the UAE's and the region's fastest expanding emirates.
Following the success of its industrial parks in Ras Al Khaimah, RAKIA is establishing a Free Industrial Zone in Georgia (Eastern Europe) through a subsidiary firm. This is the Caucasus' first free zone, and it is geographically positioned to provide quick access to the EU, Central Asia, and Caucasus/Eastern European markets. The free zone will be built near the Poti Sea Port, which is also a subsidiary of RAKIA and is the largest sea port in the Black Sea region, and will provide a significant cost advantage for products movement in the supply chain.
RAKIA is organized into various strategic business segments in addition to Industrial Parks.
With its advantageous geographic location at the crossroads of East-West trade, excellent infrastructure, strong government support for the private sector, and unrivaled natural beauty, it's no surprise that the emirate of Ras Al Khaimah has emerged as a preferred destination for investors and leisure travelers alike. Ras Al Khaimah has become a growth-driven emirate with an increased focus on manufacturing, services, real estate, construction, and tourism, thanks to its ideal location to service and access markets such as the Middle East, Africa, the Indian Subcontinent, and the CIS republics.
RAK Investment Authority Free Zone allows following types of companies or business entities within its premises:
- Free Zone Establishment (FZE)
- Free Zone Company (FZC)
- Limited Liability Company (LLC)
- Non-Free Zone Branch
The complete processing time would take 7 to 10 days.
The cost of registration starts from AED 17,000 based on the type of entity.