Company Formation in Ras Al Khaimah

Setup Your Company in Ras Al Khaimah Today with the Expert Consultants at MSZ Consultancy

Are you considering forming your company in the United Arab Emirates? Then Ras Al Khaimah (RAK) could be the perfect spot. RAK is perfectly centered between the Arabian Gulf on the West and the Hajjar Mountains on the East. The Emirate is just 45 minutes away from Dubai, and its Free Zones are the closest to the far Eastern nations; China, India, Iran, Pakistan, and Commonwealth of Independent States. So, this strategic spot makes RAK an ideal investment for global companies.

The Process to Setup a Company in RAQ

Ras Al Khaimah is one of the most developed economies in the Emirates and has seen tremendous growth. Company formation in RAK is a quick and hassle-free process. Although the procedures are laid back, you still need to make sure you have all the required documents and follow all the proper procedures. Our team of experts can help you along the way to make sure you have everything you need for a smooth RAK company formation.

Decide on the Business Activity

The first step to Ras Al Khaimah company formation is to decide what type of business activity you will have. This is defined by a commercial, professional, or industrial business activity.

01

Determine the Legal Form of the Business

Under this step, you will decide on the type of corporate entity for your business. This will depend on the type of business you are doing and how many shareholders you plan to have.

02

Finalize the Jurisdiction

You will need to finalize what area you will register your company in. In RAK, the areas for businesses are the Mainland, Free Zone, and Offshore.

03

Obtain Initial Approval

Before getting the company name certificate, you will first need to get initial approval. Initial approval will allow you to go forward with the business license and other procedures.

04

Register Your Trade Name

Now it is time to pick your name. You will have to pick a unique name and submit it to the Department of Economic Development.

05

Apply and Submit

In this next step, you will have to visit the required authorities to get their consent. The authorities you get approval from will all depend on your business activity.

06

Obtain a Business License

Now it is time to get your business license. If needed, you will have to complete any other requirements determined by the Department of Economic Development before your license is issued

07

Rent an Office

The final step is finding a place to set up your company in. After you’ve found the spot, the Monitoring and Consumer Protection Administration in the Department of Economic Development will visit the spot and give final approval.

08
Documents Required
Certified copy of the tenancy contract
Photocopies of visa, passport, RC, land map, ownership certificate
Get the consent of legal affairs
Your business license application form
Approval from the ministry of economy
If required, you may need approvals from different government entities
Notarized certification of partnership
Copies of national ID and family book
Technical evaluation report
Trade name certificate
Areas for Ras Al Khaimah Company Registration

There are three options for business setup in RAK – Mainland, Offshore, and Free Zone. Your business license will greatly depend on where you plan to setup your company. Each area has its own advantages and set of requirements.

RAK Mainland
RAK Mainland

Business setup on the RAK Mainland is a popular area for investors because of the many advantages. Some of these advantages include – no currency restrictions, no mandatory annual audits, and no limits on the number of business activities. In order to have a company on the RAK Mainland, you will need a local sponsor that will own a majority of shares in the company.

RAK Offshore
RAK Offshore

An offshore company is a legal corporate body that is set up and operated outside of its registered authority. Investors take their company Offshore because it is a gateway to the international market, there’s an exemption from all import duties, and total foreign ownership is allowed. And that’s not all. Another big advantage of an Offshore business is the price. Ras Al Khaimah’s Offshore is cheaper compared to Dubai or Fujairah.

RAK Free Zone
RAK Free Zone

Doing business in the RAK Free Zone is another cost-effective option. The facilities in the Free Zone are 25% lesser in RAK than any other Emirate in the UAE. There are four Free Zone areas to choose for company registration:

  • Ras Al Khaimah Investment Authority Free Zone (RAKIA)
  • RKA Maritime City Free Zone
  • RAK Media Free Zone (RMFZ)
  • RAK Economic Zone (RAKEZ)

Aside from this, there are also four Free Zone business parks:

  • Business Park
  • Industrial Park
  • Technology Park
  • Academic Park
Business Licenses in RAK

One of the most important steps to forming a company in RAK is getting your business license. You will need to have a valid license in order for your business to be legal. The type of license you need will depend on the type of business you will have. Here are the licenses available in Ras Al Khaimah

General Trading License

This involves trading, import, and export activities. This license is also for companies involved in industrial and manufacturing activities.

Professional License

This license allows a company to carry out various professional services. This includes consultancy services, IT, design, development, and many others.

Industrial License

This allows investors to import raw materials, carry out the production of goods, and export the finished product.

Industrial License
Why Company Formation in Ras Al Khaimah is Right for You?
  • Ample storage facilities
  • Prospects of development of the international tourism industry
  • Access to the regional and global markets
  • Availability to major transport hubs
  • Modern container port and marina docks
  • Low rental costs
  • No tax on personal or corporate income
  • Government-friendly incentives for investors
  • No customs duty on import, export, or services
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Types of Business Entities for Company Formation in Ras Al Khaimah

Before forming your company in RAK, you will have to decide what type of corporate structure you will have. Here are the business entities available for Ras Al Khaimah company registration:

  1. Limited Liability Company – This is the most common type of business. It requires a minimum of two and a maximum of 50 shareholders. You have to first deposit money into a UAE bank in order to register a company as an LLC.
  2. Joint Venture Company – This is a joint contractual agreement between a foreign and local party that are licensed to engage in a business Both parties agree to co-operate.
  1. Public/Private Shareholding Company – With a Public Joint Stock Company, there must be a minimum of ten shareholders. The founders of the company should subscribe to at least 20% of the company’s capital. A single shareholder is not enabled to subscribe to more than 10% of the capital. A Private Joint Stock Company cannot have less than three shareholders. The shares of a private joint-stock company cannot be put up for a public subscription.
  1. Free Zone Company (FZCO) – This is a Limited Liability company that can be registered by two or more shareholders. An FZCO requires a minimum capital of AED 250,000.
  2. Free Zone Establishment (FZE) – This type of company can be owned by a single person or a corporate body. The minimum capital for setting up an FZE is AED 150,000.
  1. International Business Company – With this business type, there are no limitations on the number of shareholders or directors.
RAK Company Formation with the Top Consultants

Don’t let anything get in the way of your dream business in Ras Al Khaimah. At MSZ Consultancy, we specialize in all forms of company formation in the UAE. Our team of experts have in-depth knowledge of business in Ras Al Khaimah and will help guide you through the entire process. Take the first step to forming your company in Ras Al Khaimah – contact us today on +971 52 544 1248 for a free consultation!

Company incorporation

We specialize in company incorporation in the UAE. Let us guide you through the entire process for a hassle-free incorporation.

Company registration

No matter where you are located right now, we can help you register your company in Ras Al Khaimah. We will make sure all the proper steps are taken for a smooth registration.

Local Sponsorship

Businesses inside the UAE Mainland require a local sponsor. While it may be intimidating finding someone to trust to help your company out, don’t be overwhelmed. MSZ Consultancy will help you find a trustworthy local sponsor.

PRO Services

We offer PRO services to help you through the formalities of your company like visas, trade license renewals, getting legal documents notarized, and more.

Accounting and bookkeeping

Keeping accurate accounting records can be a hassle. Let us take over your accounting and bookkeeping so you can focus on the core of your business.

Auditing

The UAE law requires almost every company to do an audit. Audits are important to have when it comes to banking, loan approvals, liquidation, and other areas. Let us help you maintain your book of audits.

Tax consulting

We make tax management easy! We are familiar with the government regulations. Let us make sure you’re making the most of your taxes.

Value Added Tax (VAT) registration

We can make sure you have all the right documents for VAT registration and review everything to make sure your registration goes off without a hitch.

Legal advisory

MSZ Consultancy provides legal advice around the clock. We can help you draft contracts, review documents, help you understand UAE Labor Laws, and anything else your company may need when it comes to legal help.

Setting up a branch office in RAK

Having a licensed branch in Ras Al Khaimah is a great way for you to expand your business. We will guide you through all the government matters to get your branch established.

Intellectual property protection

We provide all the services to protect your brand like patents, trademarks, and copyrights. Let us help you protect your intellectual property.

Frequently Asked Questions

Which are the business licenses available in RAK?

There are three types of business licenses in RAK: General Trading License, Professional License, and Industrial License.

Is it mandatory to have a local resident director in RAK?

No. You do not need to have a resident director or a resident shareholder for business incorporation in RAK.

What are the benefits of RAK offshore company?

There are several benefits of an Offshore company including 100% repatriation of profits and capital and exemption from import duties.

Which are the free zone parks in Ras Al Khaimah?

  1. There are 4 Free Zone options in RAK:
  2. Business Park
  3. Industrial Park
  4. Technology Park
  5. Academic Park

What are the benefits of company formation in RAK?

  1. A strategic location
  2. Ample storage space
  3. Close to major transport hubs
  4. Low costs for renting
  5. No currency restrictions

Is having a physical office mandatory for RAK business?

If you plan on having your business in the UAE, then you will need an office. If the company is Offshore, a virtual office is allowed.

How to start a business in Ras Al Khaimah?

First, decide on the business activity and apply for your business license, finalize your corporate structure, get initial approval from authorities, and submit your business application and other documents to the correct authorities.

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