RAK is the abbreviation of Ras Al Khaimah, similarly, RAK free zone is the shorter terminology used for Ras Al Khaimah free zone. RAK Free Zone was set up in the year 2000 and is considered as the house of more than eight thousand and five hundred small, medium, and large companies gathered from around 100 countries.
The place is very near to Dubai and it is soon going to be transmitted into an investment destination. The destination is fully furnished with state of the art infrastructure. The logistics of Ras Al Khaimah is much cheaper as it is the only entry point to UAE from the Arabian Sea. There are more than 50 kinds of industries in the RAK free zone.
Ras Al Khaimah is an attractive place for businessmen and entrepreneurs as it offers low business costs as well as expenses along with the reasonable and affordable cost of living. RAK Free trade zone has been acclaimed as the best emerging free zone for consecutively two years where it has been considered as a very professional and world-class business hub. The facilities are top-notch over here. Some of the facilities include flexible desk facilities, standard branch offices, executive offices, warehouses, etc.
RAK Free Zone company set up cost is lower considerate to other emirates in the UAE. RAK Free Zone company formation takes a shorter amount of time than the Dubai Free Zone. The Free Zone offers fast license issuance and delivery to the entrepreneurs and businessmen. The entrepreneurs and businessmen are required to portray a minimum amount of capital in their bank before they can proceed to the company formation in the RAK Free Zone.
There is a certain amount of license fees which is to be duly paid in the given time period. Along with that, the necessary documentation and paperwork are needed to be in the proper place before the concerned entity initiates the business set up.
Eagle Management Services offers a wholesome package for the business set up in RAK Free Zone. We assist in the company registration, company formation, and processing of the license cost. The company incorporation in the UAE is also handled by Eagle Management Services LLC. Our business set up consultants also guide you through the business set up procedure if you find any difficulty with the process. The necessity of a flexible desk or RAK Free Zone virtual office and even RAK Free Zone trade license are all satisfied by the Eagle Management Services consultants.
Any business operating in RAK Free Zone requires a business license. There are a total of five different types of licenses according to the business activities of companies.
• Commercial License – This is specifically used for export, import, distribution, and warehousing activities of goods and products. Company owners can choose between a particular or general trading license. Usually, it takes 2-3 days for processing.
• Consultancy/Services License – It allows us to offer services or consultation across various industries like real estate, logistics, management, marketing, etc. It also takes a time period of 2-3 days for processing.
• Industrial License – It includes manufacturing, importing, packaging, processing, assembling, and exporting of raw materials and finished products. It takes 2-3 days of processing.
• General Trading License – It is particularly utilized for import, export, warehousing, and distributional activities which also take a maximum of 2-3 days of processing.
• Educational License – The organizations can set up any kind of training or learning institutions. They can also indulge in educational consultancies.
There are altogether four kinds of legal entities by which a company in RAK Free Trade Zone can register. Those are respectively;
• Free Zone Company – It is considered as a new company or organization which is owned and operated by 2-5 business partners/shareholders.
• Free Zone Establishment – Any new business entity which is owned and governed by only one owner.
• Local Company Branch – It refers to a company branch of any UAE based company whose parent company is in active business operation and management for a minimum of one year or more.
• Foreign Company Branch – It refers to a company branch that is being operated from overseas by any company outside the UAE. Here also the parent organization of the company must remain in active business for a minimum of one year or more than that.
There are certain rules and regulations which are applicable for company registration in RAK Free Trade Zone. Those are respectively;
• A pre-approval before the registration process.
• A no objection letter from his or her sponsor before the submission of the application form.
• Regarding consultancy licenses having an academic certificate and experience letter is necessary.
• For the purpose of license renewal, the company must have audit reports organized by an audit farm.
• RAK Free Trade Zone licenses are only operated from RAK Free Zones.
• The business licenses are subject to amendment with a fee payment.
• The business facilities are subjected to inspection by RAK Free Trade Zone employees.
• Facilities are not subjected to sub-lease.
• The local custom regulations must be followed by the holders of RAK Free Trade Zone licenses.
• Easy and simple company registration procedure.
• Cent percent profit and capital repatriation.
• Complete foreign ownership.
• 100% corporate and income tax exemption.
• Entire capital and profit returns.
• Quick license availability and provision of a variety of rental office space.
• Value-added services.
• Customized package and support services.
• Modern products and business facilities.
• Available land lease for industrial activities.
• Fast UAE visa issuance
• All around access to the universe like North Africa, the Middle East, South, and Central Asia and many more.
For settling a successful business set up and formation in Dubai free zone, Eagle Management Services provide an end to end support for every client which includes the provision of free face to face consultation, free on-call consultation, and round the clock customer service support. We are definite that these facilities will certainly enhance the whole procedure with a touch of smoothness and clarity.