Emerging as one of the fastest growing free trade zones in the United Arab Emirates, the Ras Al Khaimah Free Zone (RAK FTZ) is one of the most sought investment destinations. More than 8,000 compaines are currently registered in Ras Al Khaimah due to the low set-up and maintenance costs the free zone provides. Ras Al Khaimah is located 45 minutes away from Dubai, which makes the free zone a very appealing destination for foreign investors. Among the opportunities investors will benefit from within the Ras Al Khaimah Free Zone are customized support services and various tax incentives.
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Business licenses in the Ras Al Khaimah Free Zone
In order to open a company in the Ras Al Khaimah Free Zone, investors must select the appropriate business license. There are four types of licenses to be obtained within the Ras Al Khaimah Free Zone:
- a commercial license,
- a general trading license,
- an industrial license,
- a consultancy or services license.
The business license is issued for a limited period of time which is usually one year. This may be renewed on a yearly basis provided that audit reports are submitted when applying for renewal. Companies licensed by the RAK FTZ Authority are also required to appoint a local agent in order to supply any goods or services in the UAE market.
Required documents to open a company in the RAK FTZ
The company registration procedure in the Ras Al Khaimah Free Zone is quite simple once all the documents are prepared. The required documents to open a company in the RAK FTZ are:
- an application form,
- a certificate of incorporation,
- a brief description of the business objectives,
- a bank reference letter,
- the shareholders’ passport copies,
- a list of trade names application form.
In certain cases, additional information or documents may be required. For a customized list of required documents, you may ask our company incorporation agents in Dubai.
Why open a company in Ras Al Khaimah?
Ras Al Khaimah free zone is among the most sought investment destinations in the UAE because of the numerous incentives it offers to foreign enterprisers. Many foreign investors come to the UAE to establish companies in Ras Al Khaimah and its free zone they can choose from several types of structures allowed by the local authorities, and especially because of the advantages RAK offshore companies offer.
For assistance in setting up a RAK offshore company, you can rely on our company registration agents in Dubai.
Tax exemptions in Ras Al Khaimah free zone
Just like any other free zones in Dubai or other emirates, Ras Al Khaimah offers various tax exemptions when opening a company here. Foreign investors should choose Ras Al Khaimah free zone because they can benefit from:
- no corporate or income taxes;
- full repatriation of capital and profits.
Also, one of the main reasons overseas enterprisers choose Ras Al Khaimah free zone is because full foreign ownership is allowed here.
Facilities for companies in Ras Al Khaimah free zone
Setting up a company in Ras Al Khaimah free zone comes with many advantages from a logistics point of view. First of all, Ras Al Khaimah free zone is located quite close to Dubai and has direct access to Port Saqr. RAK free zone also offers easy access to the largest airports in the UAE.
Apart from these, Ras Al Khaimah free zone offers a clear legislation related to the incorporation of companies here and swift company formation procedures, which is what makes it one of the most appealing free zones in the UAE. Companies here can apply for one of the four types of business licenses available: commercial, trading, consultancy or industrial license.
Other reasons to choose to invest in Ras Al Khaimah free zone
Ras Al Khaimah free zone is among the most advantageous free zones when it comes to the high living standards at low costs. Companies operating in Ras Al Khaimah free zone also benefit from cheap office space for rent in any of the parks dedicated to certain industries. These are the Industrial Park, the Academic Zone, the Business Park and the Technology Park.
Among the benefits RAK companies offer to foreign investors are:
- no corporate taxes under certain circumstances,
- full foreign ownership is allowed,
- easy and quick incorporation procedure,
- a clear regulatory legal framework,
- access to all large airports and seaports in the UAE.
For company registration services in the Ras Al Khaimah Free Zone, please contact our agents in Dubai.