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.
Ras Al Khaimah Company Formation
Ras-Al-Khaimah (RAK) is one of the UAE’S most economical and developed emirates. The emirate was the first one to start the International Business Company (IBC). High modern infrastructure, business facilities, and advanced technology with dynamic business scenarios enhanced the scope of business opportunities helping the emirate to flourish. Business setup has become easier with the assistance of Business Setup Worldwide.
Benefits of Business Setup in Ras Al Khaimah
The following benefits are available for business setup in Ras Al Khaimah:
- Zero corporate or personal tax - RAK has no corporate or income tax. The emirate is a tax-free economic zone.
- Entire profit on income - One can take home the entire profit without paying any extra charges.
- No extra fees are Included - No import, export or service custom fees in RAK.
- Full ownership - One can enjoy full ownership of the business.
- Easy incorporation process - RAK business registration process is easy and without any complication, it can be done.
- No trade restrictions - No quotas, or no charges are imposed on foreign exchange.
Types of Licenses for RAK Free Zone Company Formation
The following licensing types are available for the RAK company registration:
- Commercial License
- Service License/Professional License
- General Trading License
- Trading License
Types of Company Formation RAK
Business setup in Ras Al Khaimah can be of two types which are as follows:
- RAK offshore company formation
- RAK Free Zone company formation
There are four primary free zones in RAK, which are:
- Ras Al Khaimah Investment Authority Free Zone (RAKIA)
- RAK Media City Free Zone (RMFZ)
- RAK Maritime City Free Zone
- RAK Economic Zone (RAKEZ)
Types of Business Entities for Business Setup in Ras Al Khaimah
The following business entities are available in RAK:
- Joint Venture Company
- Private/ Public Shareholding Company
- Free Zone Company
- Free Zone Establishments
- International Business Company
The Process of Company Formation RAK
One must follow the below-mentioned steps for business setup in Ras Al Khaimah:
- Finalize the Business Activity
- Select the Jurisdiction
- Finalize the Legal Entity
- Obtain the Initial Approval
- Finalize the Trade Name
- Submit the Documents
- Obtain your License
Learn more about how to open an offshore company in RAK.
Create Your Company with Business Setup Worldwide
Business Setup Worldwide is here as your business consultancy in RAK. We have an experienced business professional team with the knowledge and experience of RAK company registration. Contact us for more information, and we’d be happy to help. RAK has a wide range of business scenario aspects in the UAE. If you want to start your own business and understand the incorporation process, then BSW can help you throughout.