RAK Investment Authority is a sought-after free zone for companies belonging to real estate, manufacturing, mining, tourism, trade and commerce, construction, food processing, warehousing, and maritime services.
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FAQs
What is RAK Investment Authority?
What is the minimum number of directors required for setting up a company in Sharjah? Is a resident director required for a company in Sharjah?
A company in Sharjah requires a minimum of 1 director. This director may not be a resident of Sharjah.
What is the minimum capital required to establish a company in Sharjah Free Zone?
If you are establishing a FZE or an FZC, the minimum capital requirement is AED 150,000 or US $41,000, but there is no minimum capital required if you are setting up a branch of a foreign/local company.
Are there any restrictions to importing and exporting of goods?
No, there are no restrictions to importing and exporting of goods as long as it is in accordance with your license. No duties are imposed on goods imported and/or exported from within the Free Zone.
What is the tax levied on a company in Sharjah?
A company in Sharjah does not have to pay any corporate tax. Additionally, companies in Sharjah are free to repatriate all profits and capital from the United Arab Emirates. Moreover, if a distributor wishes to sell within the UAE, a custom duty of 5% is levied.
Is a company in Sharjah required to submit annual tax returns and/or financial statements?
All foreign companies in Sharjah are obliged to submit annual returns, and are required to have their financial statements audited annually, according to corporate law.
How is a trade name for a company in Sharjah filed?
For filing a trade name, one should select one that has not already been booked by another investor and one that does not violate the instructions and conditions. All requisite documentation must be submitted to Department of Economic Development.
Can a company in Sharjah be completely foreign-owned?Is a resident director required for company formation in Sharjah?
Yes, a company in Sharjah can be 100% foreign-owned, provided it is incorporated in the Sharjah Airport Free Zone.No, a resident director is not mandatory for forming a company in Sharjah.
What is the minimum capital for a company in Sharjah Free Zone? How long does it take to incorporate a company in Sharjah?
Setting up a company in the Sharjah free zone requires a minimum capital of AED 150,000.It takes an average of 13 weeks to register a company in Sharjah.
What is the tax levied on a company in Sharjah?
A company in Sharjah does not have to pay any corporate tax. Additionally, companies in Sharjah are free to repatriate all profits and capital from the United Arab Emirates. Moreover, if a distributor wishes to sell within the UAE, a custom duty of 5% is levied.