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SETUP YOUR BUSINESS IN RAS AL KHAIMAH
RAK Mainland Company Formation
RAK Mainland Company Formation : At the northern end of the UAE, Ras Al Khaimah is situated, sharing mountainous borders with the Sultanate of Oman. Moreover, it is settled between the Hajar Mountains in the east and the Arabian Gulf in the west. Specifically, Ras Al Khaimah is situated a mere 45 minutes from Dubai, positioning it as a rapidly emerging and favored investment choice among global financiers. Consequently, this proximity significantly contributes to its appeal and attractiveness in the eyes of international investors.
Ras Al Khaimah stands as one of the most developed economies among the Emirates, attracting an influx of foreign investors. Moreover, it has experienced tremendous economic growth, marking remarkable progress. Additionally, the significant foreign investments in RAK are attributed to its thriving economy, liberal government policies, state-of-the-art infrastructural development, and amicable trade relations with neighboring countries.
The business opportunities in Al Khaimah are booming within the Emirate. As a result, foreign investors are swarming in, aiming to make Dubai one of the most developed Emirates. The business set up at RAK is widely known and has advantages such as:
- Can I rent an office anywhere?
- There are currently no restrictions.
- Has no limit on the number of business activities
- Can conduct business with the local market
- Has no mandatory annual auditing?
For the mainland company in Ras Al Khaimah, the presence of a local sponsor is mandatory. Furthermore, the local sponsor would hold the majority of shares in the company.
Black Swan Business Setup Services are available to assist in opening an LLC or establishing any other business for the mainland company in Ras Al Khaimah. Furthermore, they possess knowledge of the public relations officers and all the required procedures.
Make sure to guide their clients meticulously through each step, avoiding unnecessary hassle with documentation formalities or approval processes for the company’s setup. Moreover, they guarantee a seamless company formation process, handling red tape efficiently and ensuring affordability.
Kinds of Business Entities at Ras Al Khaimah
One has to select the type of corporate structure for their company before choosing the RAK company formation. There are lists of legal forms offered to RAK by its investors.
The Business Licenses
A valid license is required for conducting the business activity. Therefore, the list of business licenses provided by RAK is as follows:
Benefits of Business Setup at RAK
Moreover, RAK provides additional powers for the development of regional companies. Additionally, the Emirates offer a platform that opens trade routes from East to West. Among the main opportunities for foreign investors specifically, experts single out many benefits.
- High potential, a sound technical basis, and rich material in terms of storage facilities.
- The prospects for the development of the international tourism industry
- The major transport hubs availability
- A favourable geographic location that has access to global and regional markets.
- Marina docks and the modern container port
- Low rates for energy supply and for renting a space.
- The investors can take advantage of abundant supplies of competitively priced energy.
- Setting up a business in RAK is the best alternative to forming a company in Dubai Free Zone because it has warehouses and a wide range of office services.
The Documents needed
- The tenancy contract is a certified copy.
- The no objection letter, visa, passport, and residence certificates are photocopies.
- The ownership certificate and copy of the land map
getting the consent of legal affairs - The signboard and license application form
- Getting approval from the ministry of economy
- If required, getting all important approvals from the government entities
- The certification of the partnership contract from the notary public
- Getting copies of family books and national ID
- Get the technical evaluation report.
- The trade name certificate requirements
Ways to Register a Business in Ras Al Khaimah
Business setup in Ras Al Khaimah is laidback, but you still need to take care of a list of legal procedures and documentation procedures, which our team can help with. Black Swan has a team of veteran business advisors to take care of the entire company formation procedure in RAK, which will aid you with the following:
When the business setup in RAK is laidback, you need to have the documentation procedures and the list of legal procedures.
The team of veteran business advisors is there at Black Swan to take care of the entire company formation procedure at RAK, which includes the following:
Steps in Ras Al Khaimah company formation are:
- The Business Activity
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You have to determine the type of economic activity in your business. This is classified as a professional, industrial, or commercial activity. Retail businesses and general trading businesses or industrial businesses are involved in the sale and trade of goods to businesses or consumers. The professional companies offer commercial or personal services such as consulting, management, and accounting. The industrial companies conduct the processing, manufacturing, and packaging of goods.
- The Legal Form of the Business
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You have to decide the corporate entity. You can choose anyone from the above list based on your business activity. The legal status conditions are determined by the nature and type of the business.
- The Jurisdiction finalization
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The RAK, offshore, and mainland free zones are the three leading jurisdictions offering to have a business in and outside of UAE. There is loads of scope for a company that registers in the RAK Mainland. This is usually located 45 minutes from Dubai. The RAK Free Trade Zone would provide a highly productive, business-friendly environment with state of the art services and an easy setup process with minimal bureaucracy. You have to choose a range of setups varying from core offices to multi-floor offices; flexi-desks and industrial warehouses are required.
- The Initial Approval
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The initial approval is received by the investor before getting the company name certificate. This enables the investor to continue with the business license issuance procedures and addressing the concerned authorities for getting their support. This conducts the required business activity by not performing the activity without the license.
- Trade Name Registration
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You have to finalize the business location and the next step is to choose the appropriate and unique trade name for the organisation. You have to submit the proposed company name to the Department of Economic Development.
- Application and Submission process
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You have to get the initial approval and fulfil the legal conditions and requirements. The investor must visit the concerned authorities to obtain consent. These ministries need the required activity, though some types of activities require the sole permission of the Department of Economic Development.
- Get the Business License
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When the consent of the concerned authorities is received, the stakeholder can proceed to the fulfilling stage, where all the lawful requirements for business license issuance are needed. This is completed by obtaining consent from the Department of Economic Development before receiving the license.
- Office Space
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A business person can rent the business site after visiting the Monitoring and Consumer Protection Administration in the Department of Economic Development. They can also visit other concerned authorities to examine and get the business location approval.
