Ras Al Khaimah is considered to be one of the fastest-growing trade zones in the whole UAE. Because of the great number of opportunities, many foreign investors are also looking forward to set up a business in the Ras Al Khaimah free zone. A huge number of businesses get registered every year because they know how much effective can it prove to be for them.
Ras Al Khaimah has many advantages like low setup cost, low maintenance cost, strategically smart location, tax exemptions, supporting facilities and so much more. Due to all these perks, people consider it a good investment destination in the UAE.
Licenses for conducting business in Ras Al Khaimah
No matter where you start your business in UAE or Ras Al Khaimah, you will be needing a business license. That is why the investors must choose the most appropriate license for their business activities.
The licenses that can be obtained from company formation in Ras Al Khaimah are stated below;
- Commercial license
- General trading license
- Industrial license
- Consultancy services license
All the people looking for forming a business setup should determine the business activities they would carry out. This will make it easy for them to choose their business license and run the company according to it. Note that the company’s business license should reflect its services as well or else it would be considered illegal.
The business license is required to get renewed every year as well if the audit reports are submitted while applying for the renewal of the license. If a company is based in the Ras Al Khaimah free zone, it can appoint a legal agent as well for supplying the goods and services in the market of UAE.
For more information about another free zona in RAK such as RAK Media City Click here.
Documents needed for company formation in Ras Al Khaimah free trade zone
Business setup in Ras Al Khaimah free trade zone is very simple. All you need is to prepare all the documents beforehand so that you may not take much time to complete the legal procedures of business setup.
Here are the documents needed for the registration process of the company in RAK FTZ;
- Application form incorporation certificate
- Business objectives’ description
- Reference letter from the bank
- Passport copies of the shareholders
- Application form for the trade name of the company
In some cases, additional information might be asked as well. The legal representatives in the UAE can help you with that if you need their help.
Why should you go for company formation in RAK?
Foreign investors can get benefited from many perks in the UAE. Those are as follows;
- The companies formed in RAK FTZ are not required to pay corporate taxes
- Companies can own their companies fully as 100% foreign ownership is allowed
- The incorporation procedures are very easy and fast both at the same time
- The legal framework is transparent making it easy for people to understand the ifs and buts of company formation in RAK FTZ
- The strategic location makes it easy for the companies to access all the big airports as well as seaports situated in UAE.