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Business Setup & Registration Services in RAK (Ras Al Khaimah) - Global Biz Setup
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Business Setup in Ras Al Khaimah
Business Setup in Ras Ai with global biz setup
Based in the northern end of the United Arab Emirates, the Ras Al Khaimah was established in 2017 through the consolidation of the Ras Al Khaimah Authority and the Ras Al Khaimah Free Trade Zone. One of the largest economic zones in the region, RAK stands out amongst the emirates due to its strategic location and the business opportunities offered. Ease of access, the proximity of the RAK Free Trade Zone, and hassle-free administrative procedures make RAK one of the best emirates for setting up a business in Dubai. Get associated with our company registration consultants in RAK to know moretoday.
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Types of business Incorporations in Ras AI Khaimah
Entrepreneurs in Ras AI Khaimah have a variety of options for setting up a business and making their visions a reality.
Years back, RAK witnessed an increase in the demand for offshore markets. To cater to this high demand, RAK offshore was established so that businesses could establish their business in the UAE without any hassles. The introduction of this type of entity also helped the administration in increasing their income sources for the interminable growth of their economy. Since then, over 1900 international business companies (IBCs) have been listed in the offshore client portfolio, the first ones being real estate and property investments.
Regulated by the UAE government policies and the legal structure, RAK mainland company formation is probably the most popular and influential option available to businesses. It is known as a cost-effective gateway for businesses that offers a wealth of advantages. Furthermore, Its strategic geographic location, including the ability to reach markets across South Asia, the Middle East, North Africa and Europe, has led to business opportunities booming in the Emirate.
RAK Free Zone offers all facilities for business setup in the emirate at 25% lesser rates than other emirates in the UAE. As a result, businesses of all types and sizes prefer RAK for establishing and growing their company. Further, the free zone is cost-effective, hassle-free, and has a customer-friendly environment that attracts foreign investors to set up their businesses.
Since its inception, Ras Al Khaimah has witnessed an inundation of investors from all around the globe.
Foreign investors have been seizing the opportunity as the zone is one of the most developed economies in the UAE with tremendous economic development. The major advantages of setting up a business in RAK include-
Access to major transport hubs
Avant-garde infrastructure development
Liberal government policies
Relatively low rates for renting a space for business
Abundant supplies of competitively priced energy
Key steps to Starting a Business in Ras Al Khaimah
Determine the type of business activity
Before initiating any business licence issuance procedures, investors are required to determine the type of economic activity for their business. Business activities allowed in the emirate are categorised under Professional, Industrial and Commercial; and have their own unique legal regulations & fees according to their nature.
Determine the legal form of the business establishment
There are different types of legal forms available that fit every business. You are required to select one based on your business activity. Furthermore, all investors, irrespective of their legal status, are required to visit the office of the General Directorate of Residency & Foreigners Affairs in the Department of economic development to obtain approval for their business.
Registration of trade name and Initial Approval
Post determination of the legal form and type of business activity, you need to select a unique and appropriate trade name for your business. After deciding, you need to submit the proposed company name to the Department of Economic Development. Before obtaining the trade name certificate, the investor can obtain an initial approval to continue with the business licence issuance procedures and communicate to the concerned authorities to obtain approval to conduct the business activity. This licence is taken to conduct the activity and not to perform without obtaining the licence.
Apply and submit
After fulfilling the requirements and getting the approval, the investor has to visit the other concerned authorities to obtain their consent. Once the consent is received, the stakeholder may now proceed to the stage of fulfilling lawful requirements and obtaining a business licence.
Rent an Office Space
Lastly, you may rent a business site or an office space after visiting the Monitoring & Consumer Protection Administration in the Department of Economic Development. Further, you are also required to visit other authorities to approve the business location.
Why Choose Global Biz Setup?
At Global Biz Setup , we are aware of all the latest laws and regulations required to set up a business in Ras Al Khaimah. Our firm comprises a team of certified and experienced consultants who make sure that no discrepancy creeps in while you set up your business in Ras Al Khaimah. With our business setup services in the UAE, you wouldn't have to worry about anything as our team will handle every aspect of the process of setting up your business diligently. Connect with us to schedule an appointment with our team for Ras Al Khaimah business registration.