Advantages and steps of establishing a company in Ras Al Khaimah Free Zone

٣١ يناير Advantages and steps of establishing a company in Ras Al Khaimah Free Zone

٣١ يناير POSTED AT
Uncategorized
itqanadmin

Advantages and steps of establishing a company in the Ras Al Khaimah Free Zone because the Free Zone in Ras Al Khaimah is considered one of the most prominent investment destinations in the United Arab Emirates, as it provides an ideal environment for investors and business owners to achieve their business ambitions. Establishing a company in this region offers many advantages that include tax exemptions, flexibility in business ownership, and advanced infrastructure. Companies also benefit from a strategic location that allows them to access local, regional and international markets effectively. Investing in Ras Al Khaimah Free Zone represents a strategic step towards achieving growth and prosperity in an advanced and diversified business environment. We will review some of the advantages and steps of establishing a company in the Ras Al Khaimah Free Zone.

Steps to establish a company in Jebel Ali Free Zone — Establishing a company in Ras Al Khaimah Free Zone

Ras Al Khaimah Free Zone

Ras Al Khaimah Free Zone is one of the most prominent free economic zones in the United Arab Emirates, and is distinguished by providing an advanced and attractive investment environment for business. The zone was established to offer notable economic benefits that include comprehensive tax exemptions, full ownership of companies by foreigners, and exemption from customs duties on imports and exports. The region is located in a strategic location that facilitates access to regional and international markets thanks to its advanced infrastructure and modern facilities that meet the needs of companies. Thanks to these advantages, RAK Free Zone has become a preferred destination for male and female investors seeking to launch their businesses in a flexible and supportive business environment.

Ras Al Khaimah Free Zone offers a wide range of services and facilities that support companies at all stages of their establishment and operation, including company registration services, legal advice, and logistical support services. The region also provides an integrated infrastructure that includes business centers, warehouses, and industrial facilities, which enhances the ability of companies to carry out their operations efficiently. In addition, a flexible regulatory environment contributes to the simplification of administrative procedures, reducing the time and cost associated with establishing and operating a business. As a result of these advantages, RAK Free Zone has become a magnet for local and international investors looking to achieve sustainable success in the growing labor market in the UAE and beyond.

Advantages of establishing a company in the free zone

The Ras Al Khaimah Free Zone is considered a major attraction for investors and entrepreneurs to establish a company in the Ras Al Khaimah Free Zone, to benefit from the following advantages:

Tax exemptions: Companies in the free zone enjoy complete income tax exemption on profits, which helps improve net profits and promote growth.
Full Foreign Ownership: Foreign investors can own 100% companies without the need for a local partner, providing complete control over business operations.
Ease of procedures: The free zone provides simplified and quick establishment procedures, which reduces the time and effort required to launch a business.
Advanced infrastructure: The free zone provides modern facilities and a business environment equipped with the latest technology, which enhances the efficiency of business operations.
Exemptions from customs duties: Companies benefit from complete exemptions from customs duties on imports and exports, which reduces operational costs.
Possibility of obtaining multiple visas: The free zone provides flexible options for obtaining multiple work visas, which facilitates attracting global talent.
Strategic location: Ras Al Khaimah is located in a distinct geographical location that provides easy access to regional and international markets, thanks to its proximity to ports and airports.
Banking facilities: The free zone provides banking facilities and advanced financial services to support commercial operations.
Flexible commercial environment: The free zone provides a flexible commercial environment that supports innovation and growth, which encourages business development and sustainability.

Types of companies in the free zone

Here is a table showing the different types of companies you can establish in the Ras Al Khaimah Free Zone:

Type of Company	the description	Property	Appropriate activities
Limited Liability Company (LLC)	A company with an independent legal personality with limited liability for debts.	100% foreign ownership	Commercial, consulting, industrial companies
Company	A subsidiary of a parent company or parent company.	100% foreign ownership	Commercial, industrial and service companies
Individual limited liability company	A limited liability company owned by one individual.	100% foreign ownership	Individual activities, consulting services
Representative office	An office that aims to represent the parent company in the free zone without having an independent commercial activity.	100% foreign ownership	Marketing services, customer support, research
Partnership company	A company owned by two or more partners, including a profit-and-loss partnership.	It can be local or foreign	Commercial activities, consulting, services
Private joint stock company	A company that has flexible ownership structure and includes shares that are not listed on the stock exchange.	100% foreign ownership	Investment projects, real estate development, industries

Steps to establish a company in the free zone

Steps to establish a company in the Ras Al Khaimah Free Zone: It is considered one of the easiest steps to establish a company and easier than establishing a company in Dubai itself due to the advantages that the free zone enjoys. Here are the steps for establishing a company in Ras Al Khaimah Free Zone:

Determine the type of company and business activity: Determine the type of company you wish to establish, such as a limited liability company (LLC), subsidiary, or representative office. Choose the business activity you wish to practice, as some activities can affect the type of license required.
Choosing a company name: Choose a trade name for your company that adheres to the standards and laws in force in the Ras Al Khaimah Free Zone. Make sure that the name is available and registered with the responsible authority in the free zone.
Preparing the necessary documents: Prepare and compile the required documents, which may include passports, academic certificates, and CVs of the founders. Make sure to obtain all necessary licenses and approvals from local authorities.
Submit a license application: Submit a license application to the Ras Al Khaimah Free Zone Administration, including all required documents. The application may include filling out an application form and paying the prescribed fees.
Choosing an office location: Choose a location for your office within the free zone, and ensure the availability of the appropriate space and infrastructure for your business. You can also obtain office services through the free zone or rent an independent office.
Signing the Lease Agreement: Sign the lease agreement for your office or workspace, which is part of the necessary procedures for establishing your company.
Open a bank account: Open a business bank account for your company with one of the approved banks in the UAE and submit the required documents, such as a company license and lease contract.
Receiving the license and certificates: After completing all procedures and paying the fees, receive the commercial license and other certificates from the free zone administration.
Register employees and obtain work visas: Register your employees and obtain the work visas necessary to employ them. Also ensure compliance with all employment-related legal requirements.
Starting commercial activities: After completing all the steps and obtaining the necessary licenses, you can start commercial activities and operate in your new office.

Following these steps carefully will help ensure that your company is successfully established in accordance with the applicable standards and laws of the Ras Al Khaimah Free Zone.

Experts in establishing a company in Ras Al Khaimah Free Zone

Itqan Company is one of the leading companies in providing company establishment services in the Ras Al Khaimah Free Zone. It can provide comprehensive support during the establishment process thanks to its extensive experience in this field. Among the services provided by Itqan:

Providing advice on choosing the appropriate type of company and business activity.
Providing advice on organizational structure and establishment procedures.
Assist in preparing and compiling the documents required to obtain the necessary licenses.
Providing support in submitting applications and obtaining approvals from concerned authorities.
Assistance in choosing an office location within the free zone and providing office rental services.
Ensuring the availability of the necessary infrastructure and facilities to start work.
Providing assistance in opening commercial bank accounts and managing financial operations.
Ensure compliance with all local laws and regulations related to the establishment and operation of companies in the free zone.
Providing support in obtaining work and residency visas for employees and investors.

Providing ongoing support services after establishment, including assistance in dealing with government agencies and updating licenses.
Itqan Company has a strong reputation in the market and has a team of specialists who can provide support and guidance to ensure the effective success of the establishment process. If you are considering establishing a company in Ras Al Khaimah Free Zone, cooperating with Itqan can facilitate all aspects of the process and provide you with the support required to achieve your business goals. Contact us now to establish a company in the Ras Al Khaimah Free Zone in Dubai.

In conclusion, establishing a company in the Ras Al Khaimah Free Zone is an important strategic step for individuals and companies wishing to benefit from an ideal business environment and attractive economic advantages. The free zone provides advanced infrastructure, tax exemptions, and flexibility in ownership, which enhances the chances of success and growth for businesses. By facilitating establishment procedures and providing full support, the free zone contributes to reducing costs and enhancing operational efficiency. Therefore, investing in Ras Al Khaimah Free Zone is a smart choice for those wishing to achieve their business goals in a stimulating and advanced environment, which contributes to achieving success and sustainable growth in the local and international market.

Frequently asked questions about establishing a company in the free zone

Can foreigners fully own a company in Ras Al Khaimah Free Zone?

Yes, foreigners can own 100% of a company without the need for a local partner.

What types of companies can be established in Ras Al Khaimah Free Zone?

Several types of companies can be established, such as limited liability companies, subsidiary companies, representative offices, and private joint stock companies.

What are the costs associated with setting up a company in Ras Al Khaimah Free Zone?

Costs vary depending on the type of company and business activity, but include licensing fees, office rent, registration fees, and other costs related to incorporation procedures.