Is Ras Al Khaimah Free Zone Good for Business?

Ras Al Khaimah(RAK) free zone is one of the top business and industrial hubs in the world. Established in the year 2000, RAK Free Zone is currently home to over 15,000 businesses from over 50 industries. It further aims to attain service excellence by providing cost-competitive packages with attractive incentives. Offering a promising space for business establishments, Ras Al Khaimah free zone business setup commits to extending great support by empowering clients and investors and welcoming diverse businesses into its soil. 

So, this article will basically focus on the important aspects of Ras Al Khaimah free zone business setup, registration procedure as well as advances associated with it. 

Benefits of Ras Al Khaimah Free Zone business setup 

• One of the most cost-effective free zones in the world 
• Inexpensive land and cost of living 
• Allows complete foreign ownership 
• Free from income taxes and corporate taxes
• No limitations on foreign exchange transactions 
• Flexible laws and transparent policies 
• Significant location for warehousing and logistics 
• Accessible for local as well as foreign consumers 
• Proximity to the airport and seaport
• Resident visa packages to the ‘high-risk nationalities’ 
• Reasonably priced executive office 
• Varied business activities 
• Ready-to-use warehouses available in different sizes 
• Permission to hold real estate properties in Dubai
• Modern facilities 
• Full profit repatriation 
• Quick and Hassle-free Ras Al Khaimah free zone business setup 
• Easy-to-follow visa rules 
• On-site staff accommodation
• Industrial facilities and value-added services 
• One-stop solution 
• Consumer portal 
• Connectivity to major logistical centers 
• Easy access to international markets 

The procedure for Ras Al Khaimah Free Zone company registration 

To begin with the process of Ras Al Khaimah free zone company registration, you need to understand the basic steps of the procedure. These steps are as follows: 

• Select the business activities 

The Ras Al Khaimah Free Zone offers a wide range of business activities including e-commerce, consultancy, education, media, and so on. Hence, the business owner needs to choose a feasible one that they are confident in. 

The business experts at Shuraa can share with you the entire list of business activities allowed in the RAK Free Zone. 

• Reserve a business name 

The brand name or the company name makes the first impression of your business in the market. Hence, one must ensure to choose a unique yet appropriate name that goes well with the selected activities. Thereafter, cross-check with the concerned authorities for the availability of the name and then register it to get a legal identity in the market. 

The UAE government has certain norms when it comes to naming a company. Therefore, business owners must make sure to adhere to these norms and select the right name for their business. The business consultants at SHuraa can help you with the name registration process and also provide you with all the necessary information about the company naming rules and registration formalities. 

• Determine the company structure 

The key to success for any business is the selection of the right company structure. It is a very important decision for any entrepreneur as it helps in the efficient running of the business. So, the owner can choose any structure(LLC, Sole proprietorship, branch office, etc.,) as per their preference and requirements. 

• Apply for a license 

Once you choose the business activities that you want to perform in the region, you can easily determine the right license for your business. basically, there are many license options in the RAK Free Zone, including the dual licensing option. Thus, you can select the relevant license from the list and thereafter apply for it. Acquiring a license further helps in acquiring a residence visa in UAE. for better guidance on the appropriate license and relevant approvals, contact Shuraa. 

• Choose a facility 

If you want to start a business in the RAK Free Zone, it is mandatory to rent a facility. So, once you apply for the license, find a suitable facility for your business as per your budget, company size, and other requirements. There are vast types of facilities offered in the RAK Free zone including coworking spaces, serviced, standard, and executive offices. 

Additionally, you can also lease warehouses and lands depending on your business activities. RAK also provides convenient accommodations for staff in the industrial zone itself. 

• Get your license 

Once you complete all the above steps and get the necessary approvals, it will be now easy to attain the business license. 

• Apply for visa 

Acquiring a visa is yet another requirement of Ras Al Khaimah free zone business setup. The process of visa application comprises the following steps – 

• Apply for a Labor Establishment Card 
• eChannel application 
• Apply for an entry permit 
• Take the mandatory medical test
• Application for Emirates ID 
• Get the residency permit stamp on the passport  

Documents required for Ras Al Khaimah free zone company registration 

• Passport copies of shareholders and manager
• UAE visa of shareholders and manager 
• Application form 
• Business plan 
• No Objection Certificate(for the manager without a UAE visa) 
• Specimen signature of the manager
• Client confirmation letter

You read also: How to Get a UAE Free Zone Visa?

Business activities permitted in RAK Free Zone 

The Ras Al Khaimah free zone business setup has encouraged the establishment of more than 13,000 international companies. Besides, it is a very developed economic zone in the UAE which allows the operation of a range of business activities, such as – 

• Commercial activities
• Industrial activities
• Professional services
• Consultancy services
• Educational
• Media
• E-commerce

Types of licenses available in RAK Free Zone 

• Service license – The holder of a service license can offer services to individuals as well as companies in a particular field or subject. For example, consultancy services in finance, management, investment, etc., catering services, travel agency, insurance, legal issues, and many other related jobs. 
• Commercial license – The commercial license allows companies to engage in various types of commercial activities such as import, export, storage, and distribution of goods specified in the license.
• Industrial license – Businesses engaged in light manufacturing activities including import of raw materials, manufacturing, processing, assembling, packaging, and export of finished goods, etc. can obtain an industrial license. 
• General trading license – With a general trading license, companies can import, export, store and distribute all kinds of goods and services. 

Other types of licenses may include the following: 

• Educational license 
• Media license
• E-commerce license 
• Tourism license 

RAK Free Trade Zone Parks 

• RAK Free Trade Zone Business Park 

Located in the central business district of the city, the RAK Free Trade Zone Business Park caters to the needs of the clients with their requirement for fully furnished and functional offices in a well-developed business center at cost-effective rates. Besides, the sophisticated office spaces including ready-to-use offices, Flexi-offices (shared office) & Flexi-desks (shared desk) offer a hassle-free business setup to investors. In addition, it provides several other facilities such as superior telecommunications, airport connections to foreign countries, port facilities at Port Saqr, and proximity to the emirates of Dubai and Sharjah 

• RAK Free Trade Zone Industrial Park 

The RAK Free Trade Zone Industrial Park is located along the Ras Al Khaimah coastal road and Hulaylah Island. The industrial park incorporates an ample energy supply and accommodates Heavy Industries & Warehouses. In addition, to suit individual client requirements, plots are available within the park, fully serviced with water, electricity, and telecommunications, including other facilities as well, such as On-site employee accommodation, Custom Office, Operation Supportive Services Centre & other administrative and service support centers. 

• RAK Free Trade Zone Technology Park 

Located South of Ras Al Khaimah, the RAK Free Trade Zone Technology Park is a rapidly growing region dedicated to light Industries & automated manufacturing, and capital-intensive quality lifestyle projects. It also shares close proximity to the Ras Al Khaimah International Airport as well as Dubai via the Emirates Road. 

Introduce Ras Al Khaimah free zone business setup with Shuraa! 

Shuraa Business Setup will make your RAK Free Zone company formation easier and quicker as possible. Moreover, we also offer custom-made business setup packages as per your specific needs. So, reach out to us and kickstart your business career in Ras Al Khaimah. 

Call – +97144081900 or visit www.shuraa.com.