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January-2015 | www.uaefreezones.com |  |
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Free Zone Offers Advantages to Small Businesses in Brazil
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Peter Fort, RAK FTZ CEO, shared the benefits of the special economic zone at a seminar in November hosted by the Arab Brazilian Chamber of Commerce in Sao Paulo, according to a report from the Brazil-Arab News Agency ANBA.
The free zone already hosts 25 companies from Brazil. The cost of setting up a business in RAK FTZ is lower than it is at free zones in other emirates, allowing small and medium-sized companies to increase their return on investment.
"What sets us apart from other free trade zones is the fact that we offer packages for smaller businesses,” Mr Fort said. “Our starter package costs US$5,000 a year, whereas other free zones in the UAE focus on very large companies." The goal of the seminar was to show Brazilian executives the advantages of operating from RAK FTZ
A delegation from the free trade zone was welcomed by Michel Alaby, the Arab Chamber’s CEO, and by Saleh Ahmed Al Suwaidi, the Consul General of the UAE in Sao Paulo.
"The prices we charge for all products are significantly lower than those in other free trade zones, including what we offer to major businesses in terms of office space, warehouses and land. This allows companies to cut costs and maximise their profits," Mr Fort said.
According to the RAK FTZ CEO, the $5,000 annual package includes a licence to operate in the country, registration, access to facilities such as a shared business centre with computers and printers, an email address, a telephone and fax number and other items. The package also includes a three-year residency visa for one person.
In his presentation, Mr Fort also discussed Ras Al Khaimah’s infrastructure, including five ports with a combined annual throughput of 50 million tonnes of products shipped worldwide.
Mr Fort also said that just like in other UAE free zones, companies operating from RAK FTZ can be 100 per cent foreign-owned, whereas outside these facilities, a local partner is required to own at least 51 per cent of the business. Companies operating from RAK FTZ also enjoy freedom from all taxes.
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