Why Setup in RAK Freezone?
- 100% foreign ownership is allowed.
- 100% repatriation of capital and profits possible.
- Zero personal or corporate income taxes.
- Very few restrictions on recruiting labor.
- Shared services and synergies with other companies.
- State-of-the-art infrastructure.
Benefits of Business Setup in RAK FTZ
Ras Al Khaimah Free Trade Zone (RAK FTZ) is part of the Ras Al Khaimah Economic Zone (RAKEZ), which combines its clients and business parks with that of Ras Al Khaimah Investment Authority (RAKIA).
Here are the reasons that make a Ras Al Khaimah Free Zone company setup attractive to so many investors and businessmen from all around the world:
- Fast business setup procedure that is very easy to complete.
- Good support services for businesses in the free zone.
- Business owners get issuance of fast-track UAE visas.
- Versatile real-estate options to fit the needs of your specific business.
- You can choose between the free zone and the non-free zone during company formation.
- RAK Free Zone company formation is very affordable, and the cost of operations is low as well.
- 100% tax exemption from all corporate and personal incomes for business owners.
- 100% ownership of businesses even for foreigners from anywhere in the world.
- 100% repatriation of profits and capital for business owners.
- Available consultants to help you through services like the translation of documents, procurement support, recruitment of suitable employees, drafting and printing of corporate materials, and other services that are essential for any business.
RAK Free Zone Company Setup Requirements & Procedure
Here are the documents required for a RAK Free Zone Business Setup:
- 01: Our team will prepare for you a trade name reservation document.
- 02:Our team will prepare your initial approval for the activities.
- 03:You need to provide shareholders’ Passport copies.
- 04: The head of management’s Passport copy and CV (resume).
- 05:Management head and shareholder’s personal information on a complete sheet. Our firm will provide the sample.
- 06:We will share a template and you need to prepare a Notarized and attested Power of Attorney that will be appointing us as your legal representative.
- 07: Lease agreement and documentation including all the details. We will help you prepare it in no time.
- 08: Some legal complications might require to be handled including registrations for services for which the additional management fees might be applicable as well.
- 09: There might be more details including bank statements would also be required by the authorities. We will enlist to make sure everything will be done on the first attempt.
In addition to these, some more documents are required for a corporate shareholder looking for a free zone company setup RAK:
- 1. Association/Article of Association would be required to be attested by UAE Embassy in your home country.
- 2. A certificate of registration is required, which is attested by the UAE Embassy.
- 3. The board of directors must perform the Board resolution of the existing company with attestation finished by the UAE Embassy. We will provide the format.
1. Business Activates
RAK Free Zone provides six types of business licenses for authorizing the business activities you are willing to perform. To determine which type of license you need to apply for, first, you need to pinpoint the business activities you mean to perform in RAK Free Zone. If the business activities are legal and allowed in RAK, then we will help you figure out which of these licenses you need:
- Industrial License
- Commercial License
- Consulting/services License
- Media License
- Trading License
- General Trading License
After we have figured out the type of license your specific business needs, then we start with the company registration process.
2. Application Form and Documents
Our consultants have completed the company formation registration process for RAK FTZ countless times. We will complete the application step for you. You do not need to be physically present in the UAE as well if you should choose the services from Company Setup Consultants. You need to provide the documents we mentioned above as they are mandatory by the free zone authorities.
Some more documents and information may be needed depending on the business activities you intend to carry out. For example, to provide services that required specialized skills, you will need to show the certificate validating your educational background regarding the subject.
3. Payment for the License
Finally, after the application form is filled and submitted with the required documents. You need to pay the fees for the license registration, and you are good to go. You can immediately start carrying out your specified business activities within the jurisdiction of the free zone. You can apply for a visa as well.
Popular Industries in the RAK Freezone
If you are confused as to which industry you want to enter in the RAK Free Trade Zone. Here is a list of the popular and profitable industries in the RAK FTZ:
- 01. Consulting: If you are an expert in a specific field, you can become a consultant as well with a service license.
- 02. E-commerce: As online businesses are growing at an unprecedented speed; you can get in the action as well with a commercial license.
- 03. Media & Entertainment: If you have a knack for the creative industry, you can operate from the RAK with a media license.
- 04. General Trading: The RAK Free Zone provides excellent logistics support with available warehouses if you get the trading or the general trading license.
- 05. Manufacturing: If you are looking for a suitable place to manufacture your product and distribute them across that world, the industrial license is for you.
Our consultants at Company Setup can get you started in a pinch. If you are looking to start your business in Ras Al Khaimah Free Zone, contact us today.
