Ras Al Khaimah

What kinds of business entities can be set up in RAK Media City?

A company in RAK Media City can be a Free Zone Establishment (FZE) or a Free Zone Company (FZC). An FZE can have only 1 shareholder whereas an FZC can have between 2 to 5. Foreign companies can open a branch in RAK Media City provided the parent company in over 1 year old.

What are the economic advantages of setting up a business in RAK Media City?

A company in RAK Media City is 100% tax free, allows 100% foreign ownership, 100% repatriation of capital and profits, long term corporate tax exemption, exemption from import and export duties, and economical rental office spaces.

What types of licences does RAK Media City offer?

RAK Media City offers licences for film production, music & entertainment, marketing and advertising services, web designing, software development, digital media and consultancy for human resources, accounting, auditing, etc.

Which documents are required for setting up a company in RAK Media City?

For registering a business in RAK Media City, one is required to submit copies of passports od shareholders, directors and managers, incorporation forms, a project description, company M&AA, and requisite bank deposit, to RAK Media City free zone authority.

Is a physical office required to set up an RAK ICC?

For an offshore company in RAK, a physical office is not required. A virtual office is enough if a company has to function as an RAK ICC.

How many shareholders are required to set up an RAK offshore company?

To form an RAK offshore company, it requires merely 1 shareholder, who need not be present there in person.

What are the advantages of setting up an offshore company in RAK?

An offshore company in RAK allows for 100% foreign ownership, is exempt from corporate and personal taxes, and imposes no restrictions on repatriation of capital.