Company Registration in Ras Al Khaimah

The key reasons for Ras Al Khaimah free zone business setup:

• There’s no mandate to travel for company setup in the emirate, helping you save money in tickets.
• Global entrepreneurs are free to appoint a nominee director and shareholder for confidentiality purposes.
• You can generate a revenue stream with fewer tax obligations, using the profits for business expansion.
• Low VAT rate of 5% on all goods and services.
• Access to global markets in European and Asian nations through a strategic location.
• High-tech infrastructure for seamless transport solutions after RAKEZ business setup.

The list of documents needed for company registration is as follows:

• Passport copies of all members.
• A well-developed business plan.
• Identification of a local sponsorship agent or service agent, if any.
• A legalized copy of a power of attorney (POA) if the application is filed through a representative.
• A memorandum of association
• An article of association
• A copy of the incorporation certificate if applying for a branch office.

A foreign company or an individual entrepreneur can start a business by opening a new LLC, establishment, or branch office. After a 2021 amendment, the UAE government removed the 51% share to be held by a local agent mandate to improve the emirate’s economy.

The various types of company structures for company registration in Ras Al Khaimah are as follows:

• Free Zone Limited Liability Company (FZ LLC)
• Free Zone Establishment
• Branch Office of a local company
• Branch of a foreign entity

The various business opportunities for company registration in Ras Al Khaimah are as follows:

• Accounting and engineering firms
• Cargo services
• Drop shipping
• Tour operators
• Hotel and event management
• Hotels and resorts
• Advertising agencies and marketing firms
• Software development and AI startups
• Cybersecurity
• Publishing and print media
• e-learning platforms for online education

No, you don’t need a local agent, sponsor/service agent for most activities. However, if you’re starting a banking business, then you will need a local agent.

The standard corporate tax rate is 9 per cent. It only applies if your annual taxable income is more than USD 102,112.

You’ll have no income tax liability on your qualifying income and a 9% rate on non-qualifying income.

No, there’s no such mandate by the UAE government about new entities establishing a physical presence. You can also register a flexi-desk or a co-working shared office.

The initial approval from the Department of Economic Development (DED) will take at least 3 to 4 days. However, the overall process may take up to 2 to 4 weeks, starting from application filing to bank account setup.

Go through the following ways to conduct business in the Mainland without registering a new entity:

• If you’ve a RAKEZ business setup, then you’ll have to obtain a dual license to operate in the mainland area.
• Hire a local agent/representative in the mainland region.
• Open a branch in the mainland.

A free zone limited liability company is the best structure because it provides liability protection to the shareholders’ assets against the business’s debts and loan defaults.

Follow the steps below for opening a company bank account after company formation in Ras Al Khaimah free zone:

• Contact Enterslice
• Obtain a list of banks as per your requirement.
• Draft a business plan with our assistance.
• Apply for the account with documents, including ID proof, company registration certificate, and business address.
• Prepare for the interview.
• Give the interview and obtain the official documents and bank account access.

You don’t require a local director for company registration in Ras Al Khaimah. However, a local sponsor agent is required for companies registered in RAK-ICC.

Ras Al Khaimah has three main free zones as mentioned below:

• RAKEZ Special Economic Zone: primary.
• RAK Maritime City Free Zone.
• RAK ICC (International Corporate Centre): pertinent for international and offshore companies.

The standard VAT rate in Ras Al Khaimah is 5% for most goods. A zero rate VAT also applies to:

• goods exported outside GCC member states
• international transport
• on metal like gold and silver
• residential properties that are newly constructed
• certain healthcare goods

The RAKEZ business setup offers exposure to designated zones as mentioned below:

• RAKEZ Business zone
• Al Hamra Industrial Zone
• Al Ghail Industrial Zone
• Al Hulaila Industrial Zone

Yes, you can open a branch office in the free zone if you’ve a legal entity in the mainland.

A dual license after Ras Al Khaimah company formation helps businesses to operate in the mainland region with local companies.