RAK Maritime City is located strategically near the Strait of Hormuz, offering excellent sea access with an international seaport facility and special zones for companies.
It is one of the United Arab Emirates' newest and most modern marine free zones. This Free Zone provides the greatest international port facilities and a variety of business incentives for businesses looking for cost-effective and customised business alternatives.
RAK Maritime City Free Zone- A Hub of Modernity and Flexibility
RAK Maritime City provides a significant economic boost to RAK by attracting foreign ex-pats who want to set up enterprises in the Free Zone.
Furthermore, the marine city connects all enterprises and currently accommodates hundreds of businesses of all sizes and industries.
It assists with every stage of the process, from forming the corporation from the first application, company registration, obtaining licences, permits, and residency to launching the business with simplicity and compliance with the law.
A Brief Outline of RAK Maritime City's Facilities
The RAK Maritime City serves as a free zone and an international port. It provides businesses with a cost-effective and secure choice and exceptional customer service.
Its state-of-the-art industrial and marine complex, efficient logistics and industrial infrastructure, and world-class amenities draw investors worldwide.
The RAK Maritime City is divided into plots to accommodate enterprises such as retail, warehousing, general cargo handling, industrial production and manufacture, and shipbuilding and repair.
Benefits of RAK Maritime City Free Zone Authority
Below are the benefits one should consider before starting a business in RAK maritime city.
- Complete foreign ownership
- 100% tax exemption
- No custom duties for import-export exchange
- Cutting-edge harbour infrastructure
- Easy access to global markets
- Transparent business rules and regulations
- Access to the skilled labour market
- Innovative support services for RAK MC authority
Types of Licenses
The types of licenses used in RAK maritime city are,
General Trading License
The company's general trade licence allows them to import, export, sell, distribute, and store items in warehouses. It can run more than seven product lines.
The commercial licence authorises the company to import, export, sell, distribute, and store commodities.
The holder of an industrial licence is allowed to import raw materials and commodities for product production, processing, or assembly.
Entities that are permitted in the RAK Maritime City Free Zone
In RAK Maritime City, a company can be registered as one of the following entities:
- Free Zone Sole Establishment
- Free Zone Company
- Branch of a Local (UAE based) Company
- Branch of a Foreign Company
In addition to that, know more about the different types of legal entities in the UAE.
Procedure to Set Up a Company in RAK Maritime City
To open a company in RAK Maritime City, the following steps are to be taken accordingly:
Choose the Type of Business Activity
Choosing a business activity is a crucial part of beginning a business. Before seeking company registration, an investor or entrepreneur must first select a relevant business activity. Each activity has its own set of permitted requirements and expenditures according to its nature.
Decide a Suitable Name
Choose a name for your company that does not conflict with the name of any other legal body. Also, be aware of any restrictions you may be breaking while searching for a name. Any religious or abusive language should also be avoided.
Obtain Your Business License
Following the acquisition of the necessary business licences, the next step is to apply for a visa. There are numerous steps to take while applying for a visa. Meanwhile, it's a good idea to get advice from a business firm.
Apply for Visa
After getting the appropriate license for your business, the next thing considered is applying for a visa. While obtaining a visa, there are several procedures to follow. Meanwhile, consulting a business firm would be advisable.
Renting an Office Space
Renting office space may be advantageous if you are interested in trade or other activities. Furthermore, renting or leasing office space is lower than the UAE mainland.
Moreover, our business experts would guide you to rent a warehouse or commercial space depending upon your business needs.
Bank Account Opening
The final and most important consideration is to open a bank account. In every situation, opening a bank account is more complicated. Therefore, it would be preferable to contact our company specialists to make the procedure more straightforward and accessible.
Documents Needed to Establish a Business in RAK Maritime City
Below are the documents required to establish a business in RAKMC
- Application form of license and company incorporation
- Registration certificate
- A brief description of the company/project
- Copy of passport of both owner and the manager
- Bank statement demonstrating that you have the necessary funds for the firm
Everything is regarded as crucial from the start to the last phase. Because forming a business has many advantages, choosing a solid business solution is also essential.
However, if you are still interested in forming a company after considering the above factors, you can do it without hesitation. Knowing about the company formation in the UAE would be helpful if you wish to start a business in any free zones.
We at Business Setup Worldwide want to make your work more straightforward. If you need expert business guidance, we will help you. Furthermore, we would respect it if you could contact us for more information and realise your goals so that the entire strategy runs smoothly and efficiently.
What are the prerequisites for forming a business in RAK Maritime City?
Companies wishing to begin activities in RAK Maritime City must,
Register as a legal entity at RAKMC
Obtain a valid permit to undertake different activities
Sign a leasing agreement with the RAK Maritime City
Who issues a license in the RAK Maritime City?
The respective free zone authority issues a license in the RAK maritime city.
When did RAK maritime city establish?
RAK maritime city was established in 2009.
What are the other free zones in RAK?
The other free zones in RAK are
Ras Al Khaimah Economic Zone
Ras Al Khaimah Media City Free Zone
Ras Al Khaimah Free Trade Zone
Ras Al Khaimah Maritime City