RAK Free Zone Firms Can Pre-book Warehouses
The Ras Al Khaimah Investment Authority (RAKIA), a free zone operator in the United Arab Emirates, announced on June 17, 2015, that it has introduced a pre-booking system for its warehouse facilities.
The pre-booking system allows customers to pay 25 percent of the annual rent to reserve warehouse units on a first-come, first-served basis.
The first lot of 36 warehouses will be made available for customers to lease by the last week of October 2015. The second lot of 36 warehouses will be ready by the end of December 2015.
RAKIA said that it plans to lease more land and warehouses to foreign businesses. The zone offers a number of business incentives, including exemption from corporate and individual income tax, and 100 percent repatriation of profits. [ Source Tax-News ]
