RAK business setup
Ras al-Khaimah (RAK) is one of the 7 states of the UAE. Ras Al Khaimah is place in the northern end of UAE. RAK shares borders with Oman; and settled between Hajjar Mountains on the East; and the Arabian Gulf on the West. RAK is one of the best places for setting up business. The main charm of RAK Business setup is that it is the cheapest among the other UAE states.
RAK is just 50 minutes away from Dubai. It offers great access to a number of emerging markets; mainly that of the Middle East, Asia and the African regions. In fact, for business setup in RAK they have several options. That’s why RAK has several free zones as well as non free zone mainland area. So, expat can find a great value in RAK business setup. Business setup in RAK is affordable and also minimal in terms of costing. Thus, it is always a great destination for starting a business.
Types of RAK Business Setup
In order for business setup in RAK, both local and international; there are 3 main options for RAK business setup. One is business setup in RAK free zone and 2nd is business setup in RAK in local market; or in other word we can say that mainland business setup in RAK. The third option is RAK offshore business. As we said the main beauty of RAK business setup is; that it is cost effective option as compare to the other state of UAE.
Business setup in RAK Mainland
RAK mainland company setup requires minimum of two and maximum of 50 partners. At this point let me tell you one thing; or you can say one basic point about RAK Business setup. You need to keep in mind. That is business setup in RAK needs at least one local emirate partner. Local emirate partner will hold 51% of share in the business. And an expat partner will only hold maximum of 49% of share in business setup RAK. In RAK mainland business an expat can carry on any type of business except; that is banking, an investment as well as insurance.
Advantages of RAK business setup
- Business setup in RAK has no yearly auditing mandatory
- RAK business setup 100% repatriation of capital as well as profits
- Business setup in RAK has no currency restrictions
- Allow to conduct business in local market of UAE
- In business setup RAK you can drive your business from any part of RAK
- RAK business setup has simple set up process.
- Business setup in RAK has flexibility to rent office anywhere in RAK
- Wide range of license types as well as wide range of activities available for business setup RAK.
- Only practical option for some types of business.
- Business setup RAK has 100% tax free.
- It requires 0 capitals. I think this is the main point about RAK business setup.
- RAK business setup has no limits to get employment visas. Due to this expat love about RAK business setup.
Business setup in Ras Al Khaimah free zone
In RAK there are 3 main free zone to setup business. One is Ras Al Khaimah Free Trade Zone (RAK FTZ); and the second one is RAK Investment Authority (RAKIA), and the 3rd one is RAK Media Free Zone (RMFZ.
Business setup in Ras Al Khaimah free trade zone (RAK FTZ)
Business setup in Ras Al Khaimah free trade zone is a cost effective option for investment. Ras Al Khaimah free trade zone is established in the start 2000. Till now Ras Al Khaimah free trade zone has lunch more than 10,000 businesses from over 100 countries. Ras Al Khaimah free trade zone offer more than 50 industry sectors for business setup.
Ras Al Khaimah free trade zone offers numerous advantages including:
- Business setup in Ras Al Khaimah free trade zone offers a tax free investment environment.
- Also fast business set up process for Business setup in RAK free trade zone
- 100% foreign ownership are also the key value of business setup in Ras Al Khaimah free trade zone
- A wide range of real estate facilities for Business setup in RAK free zone to suit your needs.
- Business setup in RAK free zone allow a fast track UAE visa issuance
- A strategic physical location that provides easy access to markets across the world.
RAK free zone license cost
Following are the ras al khaimah trade license cost
|RAK FTZ and business license fees:|
|Registration Fees||7,000||1,918||one-off fee|
|Commercial License||3,650||1,000||per year|
|Consulting & Services License||7,500||2,055||per year|
|General Trading License||15,000||4,109||per year|
|Industrial License||5,000||1,330||per year|
|Flexi Desk cost||10,300||2,822||yearly|
|Admin Service Charges||1,200||329||per year|
Business setup in Ras Al Khaimah Media free zone
RAK Media free zone was launch in the start of 2006; by the RAK Free Trade Zone (RAKFTZ) authority; in order to challenge Dubai Media City. RAK FTZ is get popular because of the growing cost of living in Dubai; which makes RAK an alternative place to go. Also RAK Media free zone will lease land to financiers who wish to setup their own media facilities; be it a film studio, a printing press, a magazine office; an advertising agency as well as a television studio.
Business setup RAK Media Zone Advantages:
- RAK Media Zone is a global media hub
- Easy access to a large market rich with untapped potential
- Business setup RAK Media Zone is Business friendly regulations
- Lower operational costs for Business setup RAK Media Zone
- RAK Media Zone has high tech communication facilities
- Business setup RAK Media Zone has world class infrastructure & facilities
- RAK Media Zone has a state of the art offices
- RAK Media Zone has Ideal out sourcing destination
Business setup in RAK Investment Authority (RAKIA Free Zone)
RAKIA Free Zone is a leading business zone; which is devoted to provide a pro business environment; as well as robust infrastructure and regulatory. RAKIA Free Zone is comprised of two dedicated industrial parks. A combined area of 30 million square meters. RAKIA Free Zone provides a hassle free business setup in RAKIA. RAKIA Free Zone also offer state of the art facilities and economical solutions; so that to help clients compete globally as well as locally. Business setup in RAKIA presents a wide range of solutions as well as services; it stick to meet the requirements of its clients. Business setup in RAKIA offer strategic advantages and investor oriented policies. Business setup in RAKIA free zone is home to over 550 manufacturers and thousands of SMEs.
Advantages of Business setup in RAK Investment Authority (RAKIA Free Zone)
- RAKIA Free Zone offer a choice to open a free zone or a non free zone entity.
- Low cost of business setup as well as operations in RAKIA Free Zone.
- RAKIA Free Zone offer 100% tax exemptions (no corporate tax as well as no personal tax)
- Ease of doing business in RAKIA Free Zone.
- RAKIA Free Zone also offer 100% foreign ownership in free zone companies
- 100% repatriation of capital as well as profits are allow in RAKIA Free Zone.
- RAKIA Free Zone company has easy access to strategic markets.
Offshore business setup in RAK
The third type of a business is also a core business in RAK; that is RAK offshore business setup. It was first start in 2004 by RAK free trade zone. Since then it became the most popular option for offshore businesses.
Advantages Offshore business setup in RAK:
- RAK offshore business setup will give 100% foreign ownership
- In RAK offshore business has 0% tax.
- Also it has very easy renewed process.
- In RAK Offshore business requires only one director as well as one share holder.
- Also no accounting requires.
- There are no limitations on share holder as well as director residencies.
- Share holder as well as director can be the same person.
- RAK offshore will issue all registration documents in English language
- It does not require any audit