Doing Business in Ras Al Khaimah
Ras Al Khaimah: The Ideal Destination for Investors Looking for a Prime Location for Business Setup, Convenient Access, Affordable Setup Costs, and Diverse Economic Prospects
Key advantages of business setup in Ras Al Khaimah:
- Strategic location: Ras Al Khaimah is the closest Emirate to far eastern nations like China, India, Iran, Pakistan, and CIS, making it easier to conduct business with trade partners.
- Ease of access and transport: With access to two seaports, RAK empowers investors and industrial project set-ups to export products globally faster and smoothly.
- Cost-effectiveness: Setting up a business in RAK is significantly cost-effective compared to other Emirates.
- Favorable business environment: RAK has liberal government policies and advanced infrastructure development, providing a conducive environment for businesses.
- Economic stability and diversification: Ras Al Khaimah has a diversified economy and is less reliant on oil and gas, making it less susceptible to fluctuations in global oil prices. The government of Ras Al Khaimah also has a long-term plan for economic diversification to ensure sustainable growth and development for businesses.
Still not convinced?
Let Our Experts Help You!
Benefits enjoyed by business setup in RAK:
- 100% Ownership
- 100% Tax Exemption on all Commercial Levies for Import and Export
- 100% Return of Capital and Profits
- No Tax On Personal or Corporate Income
- No Foreign Exchange Controls, Quotas or Trade Barriers
- No Customs Duties on Import, Exports, or Services
- Hassle-free and Business-Friendly Legal Framework and Company Laws that Ensure Security of Investment
- Government Sponsored Incentives for Investors
- Option of virtual office space and physical office spaces
RAS AL KHAIMAH FREEZONE
RAS AL KHAIMAH NON FREEZONE
FREQUENTLY ASKED QUESTIONS
There are a couple of difference between Freezone and non-freezone license but the biggest difference is in the ownership regulations. If a business is set up in mainland, you will need a UAE national to be a sponsor. However, in a free zone, there is no such sponsorship required.
It takes approximately 4 – 6 weeks for your business to be set up in RAK, which includes the issuance of business license.
This mainly depends on whether you set up your company within the freezone or in mainland. For a company set up in mainland, it is mandatory to get an office space. Whereas for a freezone license, there is an option of choosing an office or a flexi desk depending on the type of license you buy from the freezone.
The procedures for opening a bank account for a company differs from bank to bank. However, most banks require the following documents:
• A copy of your company’s certificate of incorporation
• A copy of your trade license
• Passport copies of an owner / partners for the firm
The license procedure for the starting a company can begin without the presence of the owner or invested parties. However, the owner/owners has to be present in UAE for signing the final incorporation papers.
