The Ras Al Khaimah (RAK) is considered as one of the fast emerging investment hubs in UAE. Located at the northern end of the country, the strategic location of RAK place it close to other economic havens such as China, Pakistan, Indian, and Iran. This position enables this Emirate to improve its business and trading prospects and attract a number of potential investors to start their business and expand their trade.
RAK is also home to a number of industries and companies. These sectors would include the industrial and construction sectors and the agricultural sector. This Emirate also offers tourism services due to its proximity to Dubai, Abu Dhabi, and the Hajjar Mountains.
What makes RAK an attractive business destination?
The location of RAK is just one of its key benefits. In fact, it offers more in terms of business opportunities. This may have to do with the state-of-the-art infrastructure and the liberal business laws being implemented in this Emirate.
Setting up a physical business presence in RAK would definitely help any business to flourish. Other benefits of setting up a business in Ras Al Khaimah are the following:
- 100% company ownership
- Corporate tax exemption
- Total tax exemption on imports and exports
- Absolute repatriation of capital and profit
- Government-sponsored incentives
- Business-friendly environment
- Easy processing of business permits and licenses
There are also several types of business setup in RAK that aspiring business owners can explore and pursue, namely:
- Freezone business registration
- Offshore business registration
- Mainland business registration
Requirements for a RAK business setup
Although the process of company registration and setup in RAK is streamlined, entrepreneurs need to comply in order to operate their business in RAK. These would include submitting documents for license processing.
Here is the list of the basic requirements:
- Tradename / Company name
- Copy of lease agreement or tenancy contract
- Photocopy of the applicants’ Visa, passport, and proof of residency
- Resume and passport copy of the company manager
Start your company the right way with Vertex Global
Vertex Global Consultants is a premier business consultancy firm that provides all-inclusive and personalize company formation and business setup in UAE. Services include document processing for license application and legal formalities, Visa application, auditing, and PRO services for Abu Dhabi and Dubai companies. Our consultants will provide you the necessary assistance and information to ensure that you are starting your business on the right foot. Contact us today to schedule a call back or a consultation.