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Ras Al Khaimah is one of the seven emirates that make up the UAE and is located in the northern part of the country. Known for its stunning natural landscapes, including mountains, beaches, and desert dunes, RAK offers a unique blend of business opportunities and a high quality of life.
So why choose a business setup in Ras Al Khaimah? There are several compelling reasons. The emirate offers various business incentives, including tax exemptions, 100% foreign ownership, and streamlined processes for setting up a company.
The emirate also provides a favourable business environment with a pro-business government and supportive regulatory framework.
If you’re too considering establishing a new company or expanding your existing business in RAK, here we will cover topics such as company formation requirements, process, legal considerations, licensing options, and more so you can make informed decisions for your entrepreneurial journey in the UAE.
Business setup in Ras Al Khaimah (RAK) offers several benefits for businesses:
RAK offers a tax-free environment for businesses, with little to no corporate or personal income taxes, making it a dream come true for investors and entrepreneurs alike.
Imagine your business at the crossroads of East and West. RAK’s prime location grants you easy access to lucrative markets in the Middle East, Africa, and Asia, opening doors to endless possibilities for expansion and trade.
RAK supports a wide range of industries, including manufacturing, trading, logistics, tourism, and services. The emirate has investment opportunities in sectors such as real estate, renewable energy, healthcare, and technology.
RAK welcomes full foreign ownership of companies, giving you complete control and flexibility over your business operations. This empowers you to make decisions quickly and adapt to market changes without restrictions.
RAK has streamlined processes for setting up businesses, with a business-friendly regulatory environment. The RAK Economic Zone Authority (RAKEZ) and Ras Al Khaimah Department of Economic Development (RAK DED) provide efficient services to support business formation and operation.
Business Setup in Ras Al Khaimah involves several steps, and the process may vary depending on the type of company and the chosen business structure.
Here’s a general step-by-step guide:
Decide on the type of company you want to establish, such as a free zone company, mainland company, or offshore company. Each type has its own set of requirements and regulations.
Determine the nature of your business activities and ensure they comply with the laws and regulations of Ras Al Khaimah.
Select a unique name for your company that complies with the naming guidelines set by the relevant authority. The name should not infringe on any trademarks and should not be offensive.
Submit the required documents to the relevant authority, such as the Ras Al Khaimah Department of Economic Development (RAK DED) for mainland companies or the respective free zone authority for free zone companies.
Pay the registration fees and any other associated costs. The fee structure may vary depending on the type of company and the chosen business activities.
Await approvals from the authorities, which may include obtaining a trade license, an establishment card, and other relevant permits based on your business activities.
Complete any remaining legal formalities, such as signing the memorandum and articles of association and other incorporation documents.
Open a corporate bank account in Ras Al Khaimah to start conducting business operations.
If required, apply for visas for yourself, employees, and dependents. Register with the General Directorate of Residency and Foreigners Affairs.
Business setup cost in Ras Al Khaimah generally starts from AED 14,999* for the license but can vary significantly depending on several factors, including your chosen setup, business activity, size and complexity of your company, office rent, and other add-ons that can increase the overall cost.
It’s always recommended to get assistance from a business setup consultant in UAE for your company formation needs and the costs.
Gather the necessary documents for company registration in RAK, which may include:
Choosing the right business license in Ras Al Khaimah is crucial for your entrepreneurial journey. Here are some of the most common types:
RAK provides diverse visa options for businesses across different setups to meet your specific needs.
Essential for foreign employees working full-time in your company. Your company acts as the sponsor, applying through the relevant authority
Granted to individuals investing a minimum amount (varies by company size) in a RAK company.
Ideal for individuals offering professional services on a freelance basis. It is more affordable compared to an Employment Visa.
Ras Al Khaimah, with its pro-business environment, strategic location, and diverse offerings, has emerged as a compelling destination for entrepreneurs worldwide. Remember, while the path may seem clear, company formation and local regulations can be challenging. This is where Shuraa Business Setup shines.
Our team of experienced professionals becomes your trusted partner, ensuring a smooth and efficient company formation process in UAE including Ras Al Khaimah.
We will handle all the necessary paperwork, licensing, registration processes, and more allowing you to start your business operations quickly.
Contact Shuraa Business Setup today and let our team of professionals guide you every step of the way.
Shuraa Business Setup is a leading provider of company formation services in the UAE.
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