What is Company Registration in Ras Al Khaimah?
In United Arab Emirates, Ras Al Khaimah is emerging as one of the fastest growing free trade zones. Ras Al Khaimah Free Zone (RAK FTZ) is considered as one of the most sought investment destinations. Due to the low set-up and maintenance costs,more than 8,000 companies are currently registered in the free zone.
Ras Al Khaimah is appealing destination for foreign investors as it is located 45 minutes away from Dubai. Within the Ras Al Khaimah Free Zone investors will benefit from are customized support services and various tax incentives.
Here are the following benefits to foreign investors:
- No corporate taxes;
- Full foreign ownership is allowed;
- Easy incorporation procedure;
- Clear regulatory legal framework;
- Access to all large airports and seaports in the UAE.
To start a company in the Ras Al Khaimah Free Zone, investors must select the appropriate business license.
Within the Ras Al Khaimah Free Zone following type of licenses required to be obtained:
- Commercial License;
- General Trading License;
- Industrial License;
- Consultancy or Services License.
Business license is issued for a limited period of time usually for one year which may be renewed on a yearly basis provided that when applying for renewal audit reports are submitted. In order to supply any goods or services in the UAE market,companies licensed by the RAK FTZ Authority are also required to appoint a local agent.
Here are the following documents required to be submitted to start a company in RAK FTZ:
- Application form;
- Certificate of Incorporation;
- Brief description of the business objectives;
- Bank reference letter;
- Shareholders’ passport copies;
- List of trade names application form.
Additional information or documents may be required in certain cases.