Explore one of the world's leading destinations for business setup - Ras Al Khaimah, UAE. Register your company in Ras Al Khaimah Free Zone for trouble-free administrative procedures and tax-free world-wide business operations. The Ras al-Khaimah Free Trade Zone (RAK Free Zone) is an unique zone where trading obstacles like taxes, tariffs, and quotas are fully abolished to make international trade easier. To attract international investors, administrative and documentation requirements are reduced to the minimum. Furthermore, not only the business setup in RAK Free Zone benefits from tax-free regime, it also may rely on various double tax treaties UAE has concluded with other countries.
Why Start a Business in Ras Al Khaimah?
In 2022 Ras Al Khaimah is one of the most popular destinations in the world to start a business and register company in UAE. Ras Al Khaimah (RAK) is one of the seven emirates that make up the United Arab Emirates (UAE). The emirate, also known as RAK, is known for its historic shipbuilding and trading, as well as recently being at the forefront of quarrying, manufacturing, and tourism.
- Location & History of RAK
Ras Al Khaimah provides a really unique experience, with year-round sun and 64 kilometres of white sand beaches. It has over 7,000-year history, which may be seen in historical sites, forts, and deserted villages all around the emirate.
Ras Al Khaimah is the ideal place to get away from it all, with over 7,000 years of interesting history and culture. The emirate has firmly established itself as one of the most genuine locations in the Middle East, offering stunning mountains surrounding the area, breathtaking beaches, and rich desert plains. Several authentic villages, newly-built office buildings and exclusive residential complexes, such as Al Hamra Village and Mina Al Arab, are located inside the emirate, providing various possibilities of residental and commercial space for sale or rent.
Ras Al Khaimah offers simplicity of doing business in a prominent location, which is situated only within 50 minutes of Dubai International Airport ("DXB") and 25 minutes of RAK International Airport.
- Economy & Business in RAK
Recently, Ras Al Khaimah has gradually expanded and established a reputation as a desirable commercial centre with a diverse and stable economy. A wide spectrum of commercial activity has been attracted by the commercial incentives, low-cost business setup and residency possibilities like nowhere else in the UAE. RAK provides potential for expansion in many areas of commerce and other professional services.
The Emirate's prosperity has been based on diversifying income away from fossil fuels. Ras Al Khaimah presently has a diversified economy that includes tourism, business, manufacturing, shipping and transportation services, as well as natural resources.
However, not only RAK has been a great location for previously mentioned types of business. Recently, it has been chosen as main place of business by various IT companies from all around the world.
- Tax & Administrative in RAK Free Zone
Several free trade zones in the UAE provide renewable 50-year tax breaks and duty-free imports on products carried into the zones. Ras al-Khaimah is home to two UAE free trade zones: the Ras al-Khaimah Free Trade Zone (RAKFTZ) and the Ras al-Khaimah Media Free Zone (RAKMFZ).
The Ras al-Khaimah Free Trade Zone (RAK Free Zone) is an unique zone where trading obstacles like taxes, tariffs, and quotas are fully abolished to make international trade easier. To attract international investors, administrative and documentation requirements are reduced to the minimum.
Furthermore, not only the business setup in RAK Free Zone benefits from tax-free regime, it also may rely on various double tax treaties UAE has concluded with other countries.
The emirate of Ras al-Kaimah is a tax-free zone. There are no direct corporate income taxes, sales taxes, or wealth taxes as a result of this.
The handling of oil and gas exploration businesses and overseas bank branches is the sole exception to this zero-tax policy. Taxes are levied on oil and gas exploration and production businesses, as well as overseas bank branches.
Register Company in Ras Al Khaimah
Limited liability companies, foreign commercial company branches and representative offices, joint venture companies, public and private shareholding companies, public joint stock companies, private joint stock companies, free zone companies, free zone establishments, and international business companies are all available in Ras al-Khaimah for your business.
In this article we will take a brief look on two specific types of companies established in RAK Free Zone, that are also the number one choice by international entrepreneurs:
1) Register Ras Al Khaimah Free Zone Limited Liability Company (FZ-LLC). This is the most common type of establishment in Ras Al Khaimah. This type of company can have from 2 to 50 shareholders. Upon establishment, the company needs to have a physical office in RAK. For office spaces, there are flexi desks, flexi offices, unfurnished offices, and serviced offices.
2) Register Ras Al Khaimah Free Zone Establishment. A free zone establishment (FZE) is a separate legal entity with a sole business owner. A FZE can be owned either by a person or a corporate body.
Some benefits of RAK FZ companies:
- Income and corporate tax are both zero.
- Profit repatriation and 100 percent ownership
- Through a local agency, you can have access to the local market.
- Re-exported items are exempt from customs duties.
- Unrestricted access to labor.
- Transparent & simple regulations.
- Possibility of UAE residency & property purchase incentives for up to 4 family members.
- Excellent local banks for company bank account.
- Ras Al Khaimah company register is not open to the public and kept confidential.
Affordability, flexibility, and efficiency are among the operating aims of the Ras Al Khaimah Free Trade Zone (RAK FTZ). RAK Free Zone is one of the region's finest providers of cost-effective and customized free zone business services.
In case of a Free Zone Establishment (FZE) and Free Zone Limited Liability Company (FZ-LLC) the minimum capital requirement is AED 100,000, however it is advised for the capital to be at least AED 150,000.
Licenses for Business in Ras Al Khaimah Free Trade Zone
A business license in Ras Al Khaimah may be obtained for a wide range of operations, so you can be sure to find what you need.
RAKEZ has one of the most extensive activity lists of any of the UAE free zones. There are a few different types of activities:
- Commercial;
- Service;
- Industrial;
- Media;
- Educational;
- Individual / professional E-commerce.
To apply for license, some operations need that a firm management possess an appropriate educational degree, which must be demonstrated by a certificate signed by the UAE Embassy in the country of origin. Typically, such tasks are associated with a professional service that necessitates certain credentials or education requirements.
Contact Us to Establish Company in Ras Al Khaimah and Apply for The License in UAE
EU LAW FIRM offers a special package for registration of Ras Al Khaimah Free Zone Limited Liability Company and registration of Ras Al Khaimah Free Zone Establishment, including all company formation formalities & document preparation, as well as registered address and physical office space for your UAE company.
It takes roughly a week to set up a business in Ras Al Khaimah. A personal visit is required, but you do not need to go all the way to Ras Al Khaimah; instead, you may visit a representative office of the zone in Dubai.
Your application can also be filed through RAKEZ's foreign offices in India, Turkey, and Germany.
Contact EU LAW FIRM lawyers in United Arab Emirates.
E-mail: info@eulawfirm.eu
Telephone: +371 26742086 (Available on WhatsApp/Telegram/Viber/IMO)
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