Ras Al Khaimah has become a trading and industrial center with one of the most developed economies in the emirate. The Emirate’s tremendous economic growth and stable political environment attract investors from various countries. Business setup in Ras Al Khaimah is the most cost-effective place to set up your business and live in the United Arab Emirates. If you are wanted to setting up a company in RAK, Start Any Business UAE will help you throughout the process. We give a variety of services in Dubai.
Process Of RAK Company Formation
The business set up in RAK is short, but you require to keep in mind a list of legal processes and documentation processes. Following are the steps for forming a company in RAK:
- Choose Business Activity : in this move, choose the kind of business activity for your venture. it can be classified under commercial, industrial, professional activity. General or industrial, and retail corporations are comprised in the business and sale of commodities to corporations and clients. Professional corporations give commercial and personal services like management, accounting, consulting, and more. Industrial firms usually carry commodities’ manufacturing, production, and packaging.
Decide on the Business Legal form :- The next move is you have to choose the business unit as per the activities of your venture.
- Choose the Jurisdiction : Mainland, free zone, and offshore are 3 prime jurisdictions. Mainland provides to do business inside and outside the UAE. RAK free zone provides a great efficacious business-friendly climate with world-class services and an easy process of formation with low bureaucracy. RAK offshore provides privacy. RAK offshore company amount is quite rational, and it is an idyllic location to set up a company.
- Acquire Initial Approval : The business people can acquire an initial approval prior to collecting a certificate of the company name.The initial approval makes capable the business people to continue the procedure of issuing a business license and approach respective officials to get their help. It is taken for conducting the necessary business activity though not carrying out the activity without first obtaining a license.
- Trade Name Registration : After deciding the business location, the next move is to decide the right and unique business name for your venture. Present the decided name of your company to DED.
- Obtain A Business License :- Once the consent of the relevant authorities is obtained, the shareholder can proceed to the stage of meeting all the valid needs for the issuance of a business license. This can be accomplished with consent to the Economic Department, prior to finally collecting the business license.
- Rent Business Site : In this phase, the businessman can find a business location by going to the Monitoring and Consumer Protection Administration through DED. Apart from this, they shall also meet other relevant authorities for verification and approval of the business location.
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Documents Required For RAK Company Formation
The documents required for setting up a company in RAK are given below:
- Certified copy of the tenancy agreement
- Copies of no objection letter, visa, passport, and residence certificate
- Certificate of ownership and land map copies
- Acquiring the approval of legal matters
- License application form and signboard
- Obtaining approval ministry of economy
- Ensuring all important approvals from government entities
- Getting partnership contract from the notary public
- Family book and National ID copies
- Acquiring technical evaluation statement
- Acquiring a certificate of business name
Benefits Of RAK Company Formation
Ras Al Khaimah offers extra potential for the growth of regional corporations. RAK provides a podium that opens business paths from the East to West. Among the major possibilities for overseas business people can be distinguished a variety of key advantages, specifically :
Technical based and rich material, and great capacity in terms of storage features.
- International tourism industry’s growth opportunities.
A promising geographical spot with access to the local and worldwide markets.
- Access to primary transportation crossings.
- Advanced port for container and marina docks.
- Respectively inexpensive for leasing space and power supply.
- The formation of a business in RAK is an amazing choice for a company set up in the free zone in Dubai because it gives a huge scope of office and warehousing features.
The business people avail the benefits of plentiful supplies of competitive energy priced.
How We Can Help You
Start Any Business UAE is a leading business setup consultancy in Dubai. It has assisted a variety of clients to form a business in this emirate. We have extensive experience; our proficient specialists support our respective clients with the appropriate guidance and provide the right solutions for a sound decision.
Our specialists would assist you in setting up a company in RAK following your demands and assist to success your business in profit manner. Please feel free to contact us if you are interested
Frequently Asked Questions (FAQ's) On RAK Company Formation
Starting a company in Ras Al Khaimah is typically simple, you just need to adhere to some steps are – Choose the kind of business entity, Determine the legal needs, consider the trade name, secure your approvals, and business license. Start Any Business UAE will help you in the following steps.
Presently houses more than 13,000 multinational companies from over 100 nations covering more than 50 industries, making it one of the biggest economic sectors in the region.
The major documents that are needed for RAK company formation are – Passport, Memorandum of Association, NOC letter, License application, Trade name certificate, Commercial Premises.
Once you have completed all the documentation process and provide all your concerned information, the process of company formation would take almost five to ten working days.
There are 3 kinds of licenses available in Ras Al Khaimah that comprise professional license, general trade license, and industrial license.