The Hidden Gems of UAE – Ras Al Khaimah, Umm Al Quwain, and Fujairah Free Zones
The United Arab Emirates (UAE) is renowned as a thriving business hub, with vibrant economic zones and rapidly growing industries. While Dubai and Abu Dhabi are popularly celebrated for their wealth and glamour, there are lesser-known free zones that present attractive opportunities for entrepreneurs and investors. This article brings the spotlight on three of these unheralded business destinations: Ras Al Khaimah Economic Zone (RAKEZ), Umm Al Quwain Free Trade Zone (UAQ FTZ), and Fujairah Creative City Free Zone.
Hidden Gem Free Zone Comparison Ras Al Khaimah vs Umm Al Quwain vs Fujairah
| Free Zone | Cost | Compliances | Industries | Policies |
|---|---|---|---|---|
| Ras Al Khaimah Economic Zone (RAKEZ) | Varies based on the type of license, business activity, and facility required | Companies must comply with the UAE’s laws and regulations | Wide range of industries including trading, services, manufacturing, and logistics | 100% foreign ownership and strategic geographical location |
| Umm Al Quwain Free Trade Zone (UAQ FTZ) | Varies based on the type of license, business activity, and facility required | Companies must comply with the UAE’s laws and regulations | Wide range of industries including micro businesses, SMEs and conglomerates | 100% foreign ownership, no restrictions on capital repatriation, zero customs duty |
| Fujairah Creative City Free Zone | Varies based on the type of license, business activity, and facility required | Companies must comply with the UAE’s laws and regulations | Wide range of business activities with a focus on media, events, consulting, education, communication and marketing, music and entertainment, design, and technology | 100% foreign ownership and quick and easy setup |
Let’s explore a little more.
Ras Al Khaimah Economic Zone (RAKEZ)
Tucked away in the northernmost part of the UAE, Ras Al Khaimah provides a lucrative business environment supported by a proven record of safety, stability, and superb infrastructure. Recognized by credit rating agencies like Fitch Ratings and S&P, Ras Al Khaimah houses the versatile RAKEZ, which serves a vast array of industries, from startups and SMEs to global manufacturing players.
RAKEZ is an economic powerhouse that boasts seaports, an international airport, and multi-lane superhighways. These logistical hubs facilitate easy access to trade flows between the east and west, making it an attractive hub for global business activities. Additionally, it offers a rich local culture, majestic scenic views, a relaxed seaside ambiance, high-quality yet affordable housing, shopping malls, top-notch educational institutions, and advanced medical facilities.
Umm Al Quwain Free Trade Zone (UAQ FTZ)
Nestled in the serene emirate of Umm Al Quwain, the UAQ FTZ is another burgeoning business hub in the UAE. Established in 1987, it now hosts over 8,000 registered companies across 150 nationalities. The UAQ FTZ provides a well-developed business environment amidst a unique desert landscape that attracts a diverse group of entrepreneurs.
With proximity to primary seaports and international airports in Dubai and Sharjah, UAQ FTZ offers unparalleled logistical advantages. Its direct access to the Umm Al Quwain port further enhances its appeal to businesses that rely on seamless trade operations.
Fujairah Creative City Free Zone
Lastly, Fujairah Creative City Free Zone offers a unique blend of the East’s traditional values and the West’s modern technologies. This free zone is particularly attractive for businesses in creative industries like media, events, consulting, education, communication, marketing, music, and entertainment.
Fujairah stands out for its strategic location as the UAE’s only emirate on the East Coast, providing it with unique advantages for trade and tourism. With its bustling multipurpose port, Fujairah ranks as one of the world’s top bunkering locations. The region is rich in natural beauty and cultural attractions, making it a promising destination for both business and leisure.
Conclusion
While Dubai and Abu Dhabi often steal the limelight, the free zones in Ras Al Khaimah, Umm Al Quwain, and Fujairah provide equally enticing opportunities for businesses. Their strategic geographical locations, cost-effective business solutions, industry-specific advantages, and cultural richness make them ideal for both startups and established enterprises.
In the journey to set up a company in the UAE, these hidden gems are worth considering. They may just provide the perfect environment for your business to thrive and prosper. In order to explore which Free Zone fits your needs the best, you can give us a call for a free 30 minute rich consultation on +971 50 104 2665.