At the northernmost part of the United Arab Emirates (UAE) lies Ras Al Khaimah (RAK), one of the leading destinations for company set-ups. Situated in the heart of RAK in Ras Al Khaimah Economic Zone (RAKEZ), a powerhouse business and industrial hub in the UAE that uniquely offers customisable solutions to set up your company in a free zone and non-free zone. From freelancers and startups to small and medium-sized enterprises (SMEs) and industrialists, the multinational community at RAKEZ is flourishing in over 50 industries. Wondering how to set up a company in the Ras Al Khaimah free zone and what its benefits are? Look no further – RAKEZ has you covered with expert guidance and unparalleled opportunities for success.
A free zone company is a business entity that operates within a designated free trade zone, offering a range of advantages over traditional business structures. Ras Al Khaimah (RAK) free zone stands as a prominent player among the +45 multidisciplinary free zones present across the United Arab Emirates. Tailored to meet the diverse needs of expatriates and foreign investors, RAK free zone offers unparalleled benefits, setting it apart as a premier destination for lucrative opportunities.
Discover how to set up a company in Ras Al Khaimah free zone and unlock its benefits effortlessly. In just three straightforward steps, your licence will be acquired within a matter of days, ensuring a seamless experience from initiation to completion. Step 1: Customise your package Work with our experienced business development professionals to tailor your package. Choose the legal entity, licence type and facility that best suits your business needs. Step 2: Submit application & documents Our dedicated team at RAKEZ will assist you in completing your application and ensure all necessary documents are submitted correctly. From start to finish, we guide you through the process to meet all requirements seamlessly. Step 3: Receive your business licence Upon completion of the licensing formality, your business licence, along with your registration set and bank letter, will be issued promptly. Subsequently, the visa application process will commence.
Understanding the process of setting up a company in the Ras Al Khaimah free zone can be challenging, but fret not! At RAKEZ, we've simplified the process for you. Below is the checklist of documents you need based on your business type and legal entity: 1 . Guideline for Trade Name Registration (free zone entities only) 2 . Application for registration and licensing 3 . Visa copy/entry stamp of shareholders, general manager, and director (if applicable) 4 . The original No Objection Certificate for shareholder(s) / general manager (if UAE resident) 5 . A business plan (only for a specific activity) 6 . A colour passport copy of shareholders, general manager and director (if applicable) 7 . Emirates ID copy of shareholders, general manager (if applicable) 8 . Ultimate Beneficial Ownership (UBO) declaration form along with a passport copy is required. (A UBO is normally an individual who ultimately owns or exercises effective control over the company.)
1 . 100% foreign ownership: One of the most significant advantages of establishing a free zone company is that foreign investors can retain 100% ownership without the need for a local sponsor or partner. This enables investors to maintain full control over their business operations and make strategic decisions independently. 2 . Low tax: Previously, free zone companies in Ras Al Khaimah benefited from complete tax exemptions, encompassing corporate tax, personal income tax and import and export duties. However, it was announced that from June 2023, companies generating an annual profit turnover exceeding AED 375,000 are subject to a corporate tax rate of 9%. Despite this adjustment, it remains one of the world's lowest corporate tax rates, presenting a substantial advantage for foreign investors seeking to minimise operational costs and maximise profits. 3 . No currency restrictions: Another benefit of setting up a company in Ras Al Khaimah free zone is the absence of currency restrictions. Investors have the freedom to repatriate all profits and capital without encountering any limitations or obstacles, facilitating the management of financial operations.
4 . Easy company set-up: The process of setting up a free zone company in Ras Al Khaimah is relatively straightforward, featuring a streamlined registration process and minimal paperwork. This simplifies and enhances the efficiency of starting a business for investors, enabling them to commence operations swiftly and cost-effectively. 5 . Access to global markets: Free zone companies in Ras Al Khaimah enjoy access to a vast network of global markets, spanning Europe, Asia and Africa. This facilitates business expansion and enables companies to reach new customers, ultimately driving increased profitability and success. If you are looking to start a business in the UAE, consider the benefits of setting up a company in Ras Al Khaimah Free Zone for the best possible outcomes. You can start the journey of setting up your company in the RAK Free Zone by getting in touch with the business set-up experts at Ras Al Khaimah Economic Zone (RAKEZ). RAKEZ is already a preferred business hub for more than 23,000 companies operating across 50 different sectors. The economic zone had dedicated industrial and business zones with customisable offerings to various types of businesses. Its one-stop shops provide all the assistance you require with setting up your business, from governmental approvals to documentation, visas and much more. Furthermore, RAKEZ also provides business support services such as accounting and bookkeeping, marketing and recruitment. The support provided at RAKEZ ensures that you can operate your business with ease while trusting them to ensure all your company-related formalities are in check. Contact details are shared below: Phone: 97172041111 Email: info@rakez.com
Don't forget to share this article!