RAK Free Trade Zone Company Setup
Ras Al Khaimah ranks among the leading emirates in the United Arab Emirates (UAE) and is renowned for its free trade zone. Established in 2000, the RAK Free Trade Zone hosts over 8,000 registered companies.
It is historically noted for its affordable business setup options and is considered one of the oldest free zones in the UAE. If you're looking to start a new business or grow your current one in Ras Al Khaimah, you can rely on Business Setup Worldwide for assistance. At BSW, we manage business processes and help you incorporate your RAK free trade zone company with ease.
Why is RAK Free Zone Company Formation Beneficial for Your Business?
Incorporating your company in the RAK Free Trade Zone brings out the following benefits:
100 per cent foreign ownership
When you incorporate your company in the RAK Free Trade Zone, you can enjoy 100% foreign ownership. It means there is no requirement to appoint a local sponsor for your business.
Free from Currency Restrictions
Businesses can freely move capital in and out of the country without any restrictions.
Exemption of Import and Export Tax
When you are involved in export or import activities inside the RAK free zone, you can enjoy duty-free operations.
Access to a Wide Range of Activities
You can conduct various activities within the RAK Free Zone, including trading, manufacturing, and other professional services.
Confidentiality
This free zone provides high-level confidentiality regarding the details of shareholders and directors. As a result, your business information is also kept confidential.
Ease of Company Incorporation
The business setup in the RAK free zone is straightforward, and you can incorporate it within a few days.
Different Free Zones in Ras Al Khaimah
Before setting up a free zone in Ras al Khaimah, you must know about the following free zones:
- Ras Al Khaimah Economic Zone (RAKEZ)
- RAK Maritime City Free Zone (RMCFZ)
- Ras Al Khaimah Media City Free Zone
- RAK Investment Free Zone
Types of Entities in RAK Free Trade Zone
These are the types of business entities in the RAK Free Zone:
Free Zone Limited Liability Company (FZ-LLC)
The FZ-LLC is a popular business structure in RAKEZ that allows for the establishment of a company with shareholders. It can have between 1 and 50 shareholders. This structure offers full foreign ownership, potential tax exemptions, and streamlined procedures for importing and exporting. It is especially attractive for businesses aiming to target international markets.
Free Zone Establishment (FZE)
The FZE is a type of entity that consists of a single shareholder. With this structure, you can own 100% of a company located within a designated free zone. It is ideal for entrepreneurs, sole proprietors, or businesses that want to operate independently without a local sponsor, allowing for complete control over the company.
Branch
Foreign companies can establish branches in RAKEZ to expand their operations into the UAE market. Furthermore, UAE companies can also open branches in RAKEZ.
Procedure for Ras Al Khaimah Free Zone Company Setup
The RAK free zone company formation is straightforward with these five simple steps:
Step 1: Complete the Application Form
The primary step in proceeding with RAK free zone company registration is to complete an application form.
Step 2: Choose an Appropriate Trade Name
When selecting a trade name, it is essential to comply with Ras Al Khaimah’s naming regulations. Ensure that you avoid using offensive language or religious terms in your business name.
Step 3: Select Your Business Activity
After choosing a trade name, you have to select a business activity. Also, you can seek the expert's assistance to know whether you can perform the activity or not.
Step 4: Obtain a Business License
The next step is to secure the appropriate license for your business. Obtaining an RAK free zone license enables you to conduct your business with minimal restrictions.
Step 5: Open a Bank Account
When opening a business bank account, it is essential to select a reputable bank that meets your business's specific needs. If you require assistance with this process, don't hesitate to contact us.
Documents Required for Ras Al Khaimah Free Zone Company Formation
To proceed with RAK free zone company setup, you have to submit the following documents:
- Passport copies of shareholders and directors
- Copy of visa or entry stamping in the UAE
- Passport-size photos of shareholders and directors
Expenditure of RAK Free Trade Zone Company Setup
Look at the table to learn more about the approximate cost break-ups in the RAK free trade zone.
Cost of a license with a visa | 13,900 |
Cost of a license without a visa | 11,400 |
Cost of setting up a free zone company | 19,500 |
Leading Business Sectors in Ras Al Khaimah
Ras Al Khaimah is ideal for the following business activities.
- Tourism and Hospitality
- Real Estate and Construction
- Manufacturing
- Shipping and Transportation
- Financial Services
- Digital Services
Why Choose Our Services?
Business Setup Worldwide is a consulting firm specializing in Ras Al Khaimah (RAK) business incorporation. Our customized strategies set us apart, providing tailored solutions for a hassle-free business launch. Contact us for more details.
Frequently Asked Questions
Yes, a foreign national can establish a firm in the RAK Free Zone.
It typically takes 2-3 working days to obtain a license in the Ras Al Khaimah (RAK) Free Zone.
Yes, the cost of license renewal is less than the cost of incorporating a company.
The cost of license renewal is around AED 1,000.
There are no audit requirements in RAK-free zones.
