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During COVID-19 pandemic, RAKEZ moved towards digitisation and was reported to have 20% growth in 2020. [3] The Free zone also launched a scheme to provide 12 years visa for investors purchasing an apartment in the zone in partnership with real estate developers Al Hamra. [4] RAKEZ allows a one hundred percent foreign ownership. [5]
The Academic Zone comprises educational organizations that offer academic programs to the RAK and broader UAE communities. The main cluster of campuses is in Academic Zone 3, which is located in the Al Dhait area. Some educational organisations established under the free zone operate from separate campuses at assigned locations in Ras Al ...
A free zone authority is a designated economic area governed by its own set of regulations, which differ from those applicable to businesses outside the zone. Companies operating within free zones are typically non-customer-facing businesses, such as those involved in import/export, online operations, and other business activities that do not ...
The establishment of designated freezones in the United Arab Emirates (UAE) traces its roots to the nation's strategic vision for economic diversification.In the late 20th century, recognizing the need to reduce reliance on oil revenue, the UAE embarked on a deliberate initiative to create economic zones that would attract foreign investment, promote international trade, and foster innovation.
The city of Ras Al Khaimah is home to the Ras Al Khaimah Economic Zone (RAKEZ) that helps connect investors and international markets. It operates an online client portal called Portal 360. [27] The zone services businesses ranging from freelancers to SMEs and start-ups across 50 industries. RAKEZ is divided into six dedicated zones: [28] [29]
Ras Al Khaimah Economic Zone (RAKEZ) International Free Zone Authority (IFZA) Sharjah Media City Free Zone (SHAMS) Hamriyah-Free Zone; Kuwait Free Trade Zone.
(The Center Square) – Passions ran high at a Monday afternoon public hearing before the Senate Transportation Committee on a bill to expand gun-free zones in Washington state. Substitute Senate ...
Each Free Zone is designed around one or more industry categories and only offers licenses (e.g. for a Free Zone Enterprise (FZE)), to companies within those categories. Most of the free zones in Dubai broadly offer trading, services, and industrial licenses to investors looking to set up their businesses.