RAK is a center for trader from all over the globe. Trading and finance are the two key business activities; which the majority of the people searching for when thinking for start. A general trading license is the part of trading activity. And it allows the holder to trade approximately all items that are trad able. In fact it is the ideal form of trading. Because, it will provide you power to trade further than one product. But note that it is more expansive than simple trade license; but it is the order of almost every next person in RAK. Before going to in detail of general trading license in RAK; allow me to share with you some key and important information about RAK trade license.
First of all if you are planning to open your business in the RAK; then you require a license from free trade zone or from DED in RAK. DED Department of Economic Development) as well as the whole RAK free trade zones offer General trading license in RAK; to permit their customer to do more than one item trading with the same license.
What we offer for RAK general trading license
- We guide our customer in the favorable area collection; which is free trade zone or D.E.D.
- We also assist to find a local sponsor for this type of license in RAK
- We provide free primary consultation on the general trade license
- Our consultant will lead you in getting your trading license;
- We also provide complete PRO service to general trading company.
- They will also guide you in the process as well as in documentation.
Type of trade license in RAK
When we are talking about the trade license; then there are two areas come up in mind; which are, one is main land and other is free trade zone. Each free zone put forward verity of trade license in RAK; and varies from free zone to free zone. But in main land there are three type of a trade license in RAK; which is for those who wish for to open company in RAK local market. And also the collection of one of the type depends on the type of activity. All of three trade license allow you to work in a main land area without any problem. The detail of all three types of a trade license in RAK are the following:
- Industrial: such type of trade license in RAK; is for those who are searching to start industrial operation.
- Commercial: such type of a commercial license in Dubai; is for those who are searching to open any kind of local trading of commodities.
- Professional –such type of trade license in RAK; is for those who are searching to start up a professional service in RAK.
It is coming under the commercial license.
Cost of general trading license in RAK
|Description||Cost in AED|
|Trade Name Reservation.||660.00|
|Initial approval fee||310.00|
|Licensing & registration fee||*28,000.00|
|Local Sponsor (Emirati) Fee.||10000.00|
|PO Box and Company Stamp Fee.||900.00|
|Establishment Card Fee – Ministry of Labor.||2,500.00|
|Establishment Card Fee – DNRD.||1000.00|
Benefits of RAK general trading license
- It is a 100% tax free from all kind of taxes
- No capital have need of for a RAK general trading license
- The best part is that you are free to prefer office locations anywhere in RAK
- Uncomplicated process to setup trade license in RAK.
- It will permit you 100% repatriation of investment as well as profits
- peaceful legal procedures to acquire the trade license in RAK
- You can also manage your company from any part of RAK
- It is permitted to trade more than one item in one single license.
- Easy to obtain visa for employee
Characteristic of a general trading license in RAK
Local and international trading
A general trading license in RAK will permit you to trade within RAK and in other emirates; as there are vast opportunities within the local markets. But if you wish for to trade internationally through general trading license in RAK; then you can also do it without any constraint.
Tax free trading
RAK is very rich with free trade zones; that will permit you to trade in a tax free style. So in this free zone you are not legally responsible to pay any kind of tax on any income; as well as profits. All RAK free zone agree to RAK general trading license. So you can have an option to open your general trading in one of such free zone. Tax free trading allows you to save plenty.
Structure of General trading license in RAK
The Structure of business setup in RAK comes under the LLC Company; Where you require having at least 2 shareholders and maximum of 50. If you want to open your business in RAK local market; then you should need to hire a local sponsor. Also local sponsor will enjoy 51% of share in the company; and remaining 49% will be obtainable for an expat. But free zone present 100% ownership to an expat for RAK general trading license.
Auditing is not mandatory for General trading license
Like in other authorities, in RAK you don’t have to submit your audit report to the gov’t authorities; that is to renew your general trading license.
Visa eligibility for General trading license
Through RAK general trading license you have no limitation to acquire visa for your employee. It wholly depends on the size of your Office space in order to get visa; the larger you have office the more you can obtain visas. Some free zone also present General trading license in RAK with flexi desk; but that is allow only for a small number of visas.
Banking facility for General trading license
You can exercise all types of banking facilities for personnel and corporate banking.
General trading license in RAK
So in this type of a trading license in RAK will agree to you to do more than one item trading; or in other words we can say that it will give you power of mix type of trading. Like you can trade in trading license in RAK; which is a health product, a cosmetic items, a food item and also a metal material trading; as well as dry fruits etc. There are much more items that you can trade in general trade license. Our Business Setup Consultants will offer you a complete list of item allow; in this type of a trading license in RAK.