Category
Do I need a physical office to set up a business in RAK?
This depends on the type of your entity. For someone operating an offshore company, a virtual office is acceptable. A physical office premises must be leased if someone intends to conduct business within the UAE.
What are the rules for licensing in RAK Free Trade Zone?
RAK FTZ requires the companies in its jurisdiction to obtain trade or business license before undertaking any activity. The license issued by RAK FTZ is subject to yearly renewal, for which the company should submit their audit reports.
What are the advantages of setting up a business in RAK?
A company in RAK is 100% tax free, allows 100% foreign ownership (in case it is in a Free Trade Zone), 100% repatriation of capital and profits, long term corporate tax exemption, and economical rental office spaces.
I want to register a business in RAK Free Zone. What type of entity should I set up?
You can register a Free Zone Establishment (FZE) or a Free Zone Company (FZC). An FZE has only one shareholder while an FZC can have between 2 to 5. Foreign companies can also register a branch if the parent company has existed for more than 1 year.
What all documents are required to be submitted to register a company in RAK Free Zone?
(i) Copies of passports of shareholders, directors and managers (if applicable),
(ii) Incorporation forms,
(iii) Brief project description,
(iv) Company M&AA, and (v) Bank deposit showing minimum share capital of USD 30,000
Is it mandatory to have a local resident director for registering a company in RAK?
No. Neither a resident director nor a resident shareholder is required for registering a company in RAK. Companies registered in the Ras Al Khaimah Free Zone can be 100% foreign owned.
Is it mandatory to have a local resident director for registering a company in RAK?
No. Neither a resident director nor a resident shareholder is required for registering a company in RAK. Companies registered in the Ras Al Khaimah Free Zone can be 100% foreign owned.
Do I need a physical office to set up a business in RAK?
This depends on the type of your entity. For someone operating an offshore company, a virtual office is acceptable. A physical office premises must be leased if someone intends to conduct business within the UAE.
What is the norm on licences in RAK Free Trade Zone?
RAK FTZ requires the companies in its jurisdiction to obtain trade or business license before undertaking any activity. The license issued by RAK FTZ is subject to yearly renewal, for which the company should submit their audit reports.
What are the economic advantages of setting up a business in RAK?
A company in RAK is 100% tax free, allows 100% foreign ownership (in case it is in a Free Trade Zone), 100% repatriation of capital and profits, long term corporate tax exemption, and economical rental office spaces.
