Due to attractive business opportunities in different emirates of UAE, several industries are booming here. There is no doubt about the leading role of Dubai for providing lucrative advantages and opportunities to investors and entrepreneurs in all types of sectors. But other emirates, even the small ones, are trying to compete against Dubai and Abu Dhabi in attracting foreign investors. These small emirates are especially trying to give competition in at least few selected industries. The main advantage these small emirates provide is that they are far less expensive than Dubai and Abu Dhabi. Therefore, they are ideal for SMEs.
An important industry where Dubai is facing challenge is the media industry. DMC (Dubai Media City) in Dubai is challenged by other media-related free zones in several other emirates. There is media-supporting SHAMS Free Zone in Sharjah and Ajman Media City Free Zone for progress of media in their respective emirates. Another important free zone that provides special status to companies related to media industry is the Ras Al Khaimah Media Free Zone (RMFZ).
RMFZ was established in 2006. An important reason that it rivals DMC and other media-related free zones in UAE is its competitive fees and world-class facilities provided to the companies of related industries. There is every reason that RMFZ can grow even in the presence of several other high-class free zones in UAE. Following are few important factors that make RMFZ an attractive place for media industry.
- 100% exemption from corporate and personal income tax
- 100% repatriation of profits and capitals without any currency restrictions
- Quick and simple registration process with very few conditions and requirements
- Availability of several types of licenses that encompass several business entities
- Proximity of international airport and seaport
Following are important types of licenses available in RMFZ.
- Publishing license (for magazines, e-books, educational & consumer books, directories & guides etc.)
- Broadcasting license (for TV & Radio broadcasting)
- Production license (film production & distribution, animation, post production, media content management etc.)
- Marketing license (for promotional services, direct marketing, PR agency, advertising, buying & selling etc.)
- Business license (for media research & information services, news agency)
- Music & Entertainment license (for music production, recording, publishing & distribution, sports management, theme park, event management etc.)
- Service provider license (banking service, beauty salon, restaurant, medical clinic, kiosk etc.)
- Consultancy license (for HR consultancy, legal consultancy etc.)
All these different types of licenses provide a clue about the types of businesses supported by RMFZ. If you qualify and are interested in setting up your company in RMFZ, then you can contact us via our WhatsApp # 971-56-9971225. Riz & Mona Consultancy is providing best services for free zone company formation in all the emirates of UAE.