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Business Setup in RAS Al Khaimah (UAE) :

With the number of Free Zones in UAE increasing day by day, they are turning out to be an important part of the UAE economy. The UAE Free Zones have greatly helped in augmenting the UAE economy by building up an optimum structure for a safe and strong business environment for a foreign business enterprise. By now, UAE Free Zones are home to around 40,000 companies. The Jebel Ali Free Zone being the first Free Zone in the country, it has created the benchmark for regulations & incentives. Its rapid growth has also provided a powerful economic inspiration to the other offshore centers in the Emirates.

Today, Free Zones in UAE have also started offering offshore centres for a lot of foreign companies. Ras Al Khaimah Investment Authority or the RAKIA has also set up an offshore centre in Ras Al Khaimah itself. Being a business consultancy, Superior Consulting (Pvt.) Ltd. helps its clients to go through a detailed study of the business prospects in UAE. We know that setting up a business in a foreign land is a crucial decision. We always ensure that our clients' time and money are saved to the greatest extent while discovering their business prospects in this part of the world.

Ras Al Khaimah, one of the seven emirates that make up the United Arab Emirates, has come a long way from its humble beginning to being recognized today as one of the most attractive tourist and business destinations in the Middle East, thanks to its excellent infrastructure, investor-friendly policies and picturesque surroundings.

Location

Ras Al Khaimah is located at the north end of the Arabian Gulf coastline. Nestled between the Hajar Mountains on the East and the Arabian Gulf on the West, Ras Al Khaimah also shares mountainous boarders with the Sultanate of Oman. Located about 45 minutes driving distance from Dubai, the emirate is strategically located and is well connected to destinations in the Gulf countries, Europe, the US, Australia and the Far East. RAK is the closest emirate to the main shipping lane traveling the Strait of Hormuz and to markets including Pakistan, India, China and the CIS countries.

Education

Over the past decades, Ras Al Khaimah has laid significant emphasis on education. The emirate offers free education for all UAE nationals, who are required to attend primary school from the age of six. In addition to the well-established state-run primary and secondary schools, Ras Al Khaimah boasts several private schools of international standard offering a range of curricula, including schooling under the American, British and Indian systems. The academic year in Ras Al Khaimah is from September to June, and admissions require transfer/migration certificates from the students’ home country schools/education departments.

Healthcare

Healthcare facilities in Ras Al Khaimah are truly of international standards. Be it diagnosis, treatment or patient care, hospitals in Ras Al Khaimah are equipped with state-of-the-art facilities and highly experienced doctors and support staff. In addition to the four major government hospitals and the several private hospitals and clinics in the emirate, a new hospital named RAK Hospital, which is managed by a team from Switzerland, has recently commenced operations.


Shopping and Recreation Facilities

Ras Al Khaimah is fast emerging as a shopper’s paradise in the region, with a choice of ultra-modern shopping malls, hypermarkets and department stores complementing the array of recreational facilities that include parasailing, fishing, diving, wind surfing, water skiing, golfing, camel and horse riding, mountaineering, desert safaris among others.

Tourism

As a tourist destination, Ras Al Khaimah has been steadily attracting visitors from around the world who thoroughly enjoy the sun-kissed beaches and the beauty of the Hajar Mountains, not to mention the range of exciting outdoor sporting activities that they can take part in. Also, the RAK Government has preserved the emirate’s rich cultural heritage by maintaining several old structures which hold major historical significance. The government is also promoting traditional sports such as camel racing, dhow (boat) racing and Arabian thoroughbred horse racing.

Airport

The Ras Al Khaimah International Airport started its operation in the year 1971, is capable of handling scheduled and chartered flights and air cargos. The airport, which is currently undergoing an upgrade, has an open skies policy with no restrictions on frequencies and time of arrival / departure; offers competitive tariffs and storage facilities; is not congested, and has a full offering of duty-free goods, among other services.

Seaport

Saqr Port, located in the industrial area of Khor Khuwair, is Ras Al Khaimah’s main seaport, providing bulk and container services. It has eight deep water berths, each 200 m long, is dredged to 12.2 m and has two ro-ro ramps plus specialized berths for handling bulk cement and aggregate. Other services include ship handling, crew changes and 40,000 m2 of covered storage together with a vast open storage area.

Following steps are to be followed by a client to form a company in RAK Authority:

• Select the type of company to be established i.e. Free Zone [Free Zone Establishment (FZE), Free Zone Company (FZ-LLC) or Branch] or Non Free Zone [Single Owner, Limited Liability Company (LLC) or Branch]

• Select the type of license depending on the type of activity e.g. Industrial, Commercial, Trading, General Trading, Service or Media.

• Select the facility required like land, plot, flexi desk office, executive residences etc.

• Fill up the application form and submit along with all necessary documents.

• Once the application form is approved submit necessary fees for license/company formation, lease (if any) and legal documents as per the registration type.

Difference Between Free Zone & Non-Free Zone

Key Differentiators Free Zone Non-Free Zone
Foreign Ownership 100% Foreign Ownership 51% Local Partner required
Income & Corporate Tax 100% Tax Free 100% Tax Free
Business Horizon Meant for export, however entities in Free Zones can sell their products within UAE through local distributor or agent licensed in UAE. For such sales normal custom duty is levied. Free to do business within UAE

Capital & Profit Repatriation

100% Allowed

100% Allowed

Hiring of Expatriates

No restrictions

Local labor laws will apply


Types of Licenses Issued by RAKIA

The type of license(s) depends on the type of activities.

License Type Activities Covered
Industrial License Manufacturing, processing, assembling, packaging etc.
Trading License Import, export, distribution, warehousing, trading (maximum five activities from similar product lines or three different activities from two different product lines).
General Trading All kinds of trading, import, export, warehousing and distribution of goods
Commercial License Activities covering contracting, repairing, maintenance, renting, shops, restaurants etc.,
Consulting / Services License Any type of management, business, industrial consultancy or professional services including real estate consulting.
Media License All kinds of media and communication services.


Benefits of Setting Up Business in UAE: 

  • Living in a Peaceful Environment.

  • Tax Free Country.

  • Lowest Crime Rate.

  • High Standard of Education.

  • Stable Government.

  • Tolerance society.

  • Can Live Anywhere in UAE