Business Setup In Ras Al khaimah free zone
Setup your business in Ras Al Khaimah Free Zones with ease with Business Diaries’ end-to-end support
Business Setup In Ras Al Khaimah Free Zone
Starting a business in RAK Free Zones is straightforward and involves the following steps:
Pick your business activity.
Choose the proper legal setup: Free Zone Establishment or Free Zone Company.
Choose a name for the business and apply for a trade license.
Request visas for both you and your employees.
Rent office space
Open a bank account with a leading UAE bank.
Register for VAT (Value Added Tax).
Ras Al Khaimah Free Zones offer an excellent business environment with top-notch infrastructure and market access. Following these steps lets you establish your business in RAK FTZ and enjoy its benefits.
Business Diaries provides continuous support and assistance to businesses in their setup within Ras Al Khaimah Free Zones. The range of services includes visa facilitation, HR support, and valuable business advisory, all designed to empower companies to thrive in the UAE and broader markets.
Benefits of Business Setup In Ras Al Khaimah Free Zone
There are several advantages to setting up a business in Ras Al Khaimah (RAK), one of seven emirates that make up the UAE. Some key benefits of business setup in RAK include:
Strategic location: Situated at the intersection of East and West, RAK provides an advantageous position for businesses aiming to tap into diverse markets in the Middle East, Europe, Asia, and Africa.
Tax incentives: RAK Free Trade Zone (RAK FTZ) and RAK Investment Authority (RAKIA) offer tax incentives to businesses, including 100% foreign ownership, zero taxes on corporate and personal income, and exemption from customs duty.
World-class infrastructure: RAK offers modern infrastructure, including ports, airports, highways, and telecommunications, making it easier for businesses to operate and expand.
Skilled workforce: RAK has a large pool of skilled workers, with many UAE nationals and expatriates living and working in the emirate.
Business-friendly environment: RAK offers a business-friendly environment with streamlined procedures for company registration and licensing and access to various support services, including legal, accounting, and marketing.
Diversified economy: RAK has a diversified economy, emphasizing key sectors such as manufacturing, logistics, tourism, and services, offering businesses a range of opportunities for growth and success.
Frequently Asked Questions
What support services are available in Ras Al Khaimah Free Zone?
Ras Al Khaimah Free Zone offers a range of support services to
a) businesses,
b) including legal,
c) accounting, and
d) marketing services, as well as
e) access to training and development programs.
What types of businesses can be set up in the Ras Al Khaimah Free Zone?
A wide range of businesses can be set up in the Ras Al Khaimah Free Zone, including trading, manufacturing, and services.
Can my existing company be transferred to RAK FTZ?
Yes, RAK FTZ offers company transfer services, allowing you to share your company to the free zone; this can provide various advantages, such as access to tax exemptions and 100% foreign ownership.
Can I operate my business outside Ras Al Khaimah Free Zones if I set it up there?
No, businesses set up in Ras Al Khaimah Free Zones are required to operate within the designated Free Zone area. However, you may be able to establish a branch or subsidiary outside of the Free Zone area.