Last updated on October 1, 2022
Ras al-Khaimah (RAK) is one of the 7 states of the UAE, which is situated in the northern end of UAE .and shares borders with Oman; and settled between Hajjar craggy Mountains on the East; and the Arabian Gulf on the West. RAK has very charming situation for setting up a business. The main feature of Ras al khaimah company formation is that it is an inexpensive for the reason that it has some free tax zones instead of other states of Dubai.
RAK is just at 50 minutes distance away from Dubai. It offers great access to a number of emerging markets; with countries of the Middle East, Asia and the African regions. In fact, for RAK company formation they have several opportunities for selections of business verities. In this background and for the reason that RAK has several free zones as well as non-free zone mainland area. Therefore, the expat can find a great valuable situation in Ras al khaimah company formation. RAK company formation is affordable being cheapest and also minimal in terms of costing/investment. In this view, it is always a great destination for starting a business and its achievement.
Types of Ras al khaimah company formation
For business activities in RAK, both local and international; there are 3 main options for Ras al khaimah company formation. One is RAK free zone company setup and the other is RAK company formation in local market; or in other word we can say that mainland RAK company formation. And the third option is regarding RAK offshore business. As we said the main beauty of Ras al khaimah company formation is; that it has low cost effective option as compare to the other state of UAE.
RAK company formation Mainland
For Company formation in RAK at least two partners are required for setting up business And maximum fifty partners are required. At this juncture it may be pointed out about a Company formation in RAK that for Company formation in RAK at least one local partner needed, this local. Partner will have to hold minimum of 51% of share in the business. And an outsider partner can hold maximum of 49% of share in RAK company formation. In RAK mainland stranger can carry on any type of business except; the banking correspondence of an investment as well as insurance.
Advantages of Ras al khaimah company formation
- There is no year-wise audit conducting procedure for RAK company formation
- Ras al khaimah company formation 100% repatriation of capital as well as profits
- RAK company formation has no currency restrictions
- Allow to conduct business in local market of UAE
- In business setup RAK you can shift your business from any part of RAK
- Ras al khaimah company formation has simple set up process.
- RAK company formation has flexibility to rent office anywhere in RAK
- Wide range of license types as well as wide range of activities available for business setup RAK.
- Only practical option for some types of business.
- Business setup RAK has 100% tax free.
- It requires Zero capitals. I think this is the main point about Ras al khaimah company formation.
- There is no restrictions for getting employment visas in RAK business. Due to this aspect expat/investors love Ras al khaimah company formation.
RAK free zone company setup
In RAK there are 3 main free zone to setup business. One is Ras Al Khaimah Free Trade Zone (RAK FTZ); and the second one is RAK Investment Authority (RAKIA), and the 3rd one is RAK Media Free Zone (RMFZ.
RAK free zone company setup (RAK FTZ)
RAK free zone company formation is a cost effective option for investment. Ras Al Khaimah free trade zone is established in the start 2000. Till now Ras Al Khaimah free trade zone has lunch more than 10,000 businesses from over 100 countries. Ras Al Khaimah free trade zone offer more than 50 industry sectors for business setup.
Ras Al Khaimah free trade zone offers numerous advantages including:
- RAK free zone company formation offers a tax free investment environment.
- Also fast business set up process for RAK free zone company formation
- 100% foreign ownership are also the key value of RAK free zone company formation
- A wide range of real estate facilities for RAK free zone company setup to suit your needs.
- RAK free zone company setup allow a fast track UAE visa issuance
- A strategic physical location that provides easy access to markets across the world.
RAK free zone company setup (Media free zone)
Media free zone was launch in the start of 2006; by the RAK Free Trade Zone (RAKFTZ) authority; in order to challenge Dubai Media City. RAK FTZ has become popular because of the growing cost of living in Dubai; which makes RAK an alternative charm-full place to go. Also RAK Media free zone will lease land to financiers who wish to setup their own media facilities; like as a film studio, a printing press, a magazine office; an advertising agency as well as a television studio.
Advantages RAK free zone company setup
- RAK free zone company setup in RAK Media Zone is a global media hub
- Availability of Easy access to a large market rich with untapped potential
- RAK free zone company setup in RAK Media Zone is Business friendly regulations
- Also RAK Media Zone offer lower operational costs for RAK free zone company setup.
- RAK Media Zone has high tech communication facilities
- Also RAK free zone company setup in RAK Media Zone has world class infrastructure & facilities
- Media Zone has a state of the art offices
- RAK Media Zone has Ideal out sourcing destination
RAK company formation (RAKIA Free Zone)
RAKIA Free Zone is a leading business zone; which is also devoted to provide a pro-business environment; as well as attractive vigorous infrastructure and regulatory. RAKIA Free Zone is comprised of two dedicated industrial parks. A combined area of 30 million square meters. RAKIA Free Zone provides a hassle free RAK company formation. RAKIA Free Zone also offer state of the art facilities and economical solutions; so that to help clients compete globally as well as locally. RAK company formation presents a wide range of solutions as well as services; it sticks to meet the requirements of its clients. It offer strategic advantages and investor oriented policies. RAK company formation free zone is home to over 550 manufacturers and thousands of SMEs.
Advantages of RAK company formation (RAKIA Free Zone)
- RAKIA Free Zone offers a choice to open a free zone or a non-free zone entity.
- Low cost of business setup as well as operations in RAKIA Free Zone.
- RAKIA Free Zone offer 100% tax exemptions (no corporate tax as well as no personal tax)
- Ease of doing business in RAKIA Free Zone.
- RAKIA Free Zone also offer 100% foreign ownership in free zone companies
- 100% repatriation of capital as well as profits is allowed in RAKIA Free Zone.
- RAK free zone company setup has easy access to strategic markets.
Offshore RAK company formation
The third type of a business is also a core business in RAK; that is RAK offshore business setup. It was first start in 2004 by RAK free trade zone. Since then it became the most popular option for offshore businesses.
Advantages Offshore RAK company formation
- RAK offshore business setup will give 100% foreign ownership
- In RAK offshore business has 0% tax.
- Also it has very easy renewed process.
- In RAK Offshore business requires only one director as well as one share holder.
- Also no accounting requires.
- There are no limitations on shareholder as well as director residencies.
- Share holder as well as director can be the same person.
- RAK offshore will issue all registration documents in English language
- It does not need any audit