The Ras Al-Khaimah Free Zone (RAKFZ) is a popular destination for businesses looking to set up shop in the United Arab Emirates. If you are looking to set up a business in the UAE, RAKFZ is a great option. The free zone offers a number of benefits to businesses, including 100% foreign ownership, no corporate taxes, low import and export duties, a simple and quick registration process, freehold property ownership, excellent infrastructure, premium business facilities, unique 3 Park concept, and incentives for investors. The RAKFZ offers a number of benefits to businesses, including:
Establishing a company in the Ras Al-Khaimah Free Zone
- 100% foreign ownership: Businesses in the RAKFZ can be 100% owned by foreigners.
- No corporate taxes: There are no corporate taxes in the RAKFZ.
- Low import and export duties: The RAKFZ has low import and export duties.
- Simple and quick registration process: The registration process for businesses in the RAKFZ is simple and quick.
- Freehold property ownership: Businesses in the RAKFZ can own freehold property.
The cost of establishing a company in the RAKFZ can vary depending on the type of business and the services required. However, the average cost is around AED 11,440. This includes the registration fee, the license fee, and the visa fee. There are also a number of other costs that may be incurred, such as the cost of hiring an attorney or accountant
- Registration Fee: The registration fee for a company in the RAKFZ is AED 7,000. This fee is payable to the Ras Al-Khaimah Free Trade Zone Authority (RAKFTA).
- License Fee: The license fee for a company in the RAKFZ varies depending on the type of business. For example, the license fee for a trading company is AED 15,000. The license fee is payable to the RAKFTA.
- Visa Fee: The visa fee for a company in the RAKFZ is AED 26,000. This fee is payable to the UAE Ministry of Interior.
In addition to the registration fee, license fee, and visa fee, there are a number of other costs that may be incurred when setting up a company in the RAKFZ. These costs can include:
- The cost of hiring an attorney or accountant
- The cost of renting office space
- The cost of setting up a website
- The cost of marketing and advertising
The total cost of setting up a company in the RAKFZ can vary depending on the specific needs of the business. However, the average cost is around AED 11,440.
Benefits of establishing a company in the Ras Al-Khaimah Free Zone
The Ras Al-Khaimah Free Zone offers a number of benefits to businesses, including:
- Foreign ownership: Businesses in the RAKFZ can be owned by foreigners.
- No corporate taxes: There are no corporate taxes in the RAKFZ.
- Low import and export duties: The RAKFZ has low import and export duties.
- Simple and quick registration process: The registration process for businesses in the RAKFZ is simple and quick.
- Freehold property ownership: Businesses in the RAKFZ can own freehold property.
These benefits make the RAKFZ a popular destination for businesses looking to set up shop in the United Arab Emirates.
Setting up a business in the Ras Al Khaimah Free Zone (RAKFZ) can be a great way to expand your business into the Middle East. However, before you can start the process, you need to select the right business activities.
Here are a few things to keep in mind when selecting business activities in RAKFZ:
The type of business: You need to decide what type of business you want to set up. There are a variety of business activities that are allowed in RAKFZ, including trading, manufacturing, and services.
The target market: You need to decide who your target market is. Are you targeting businesses in the UAE or other countries?
The competition: You need to research the competition and make sure there is a demand for your products or services.
The investment: You need to determine how much money you are willing to invest in your business.
Once you have considered these factors, you can start to select the right business activities for your RAKFZ business.
the most popular business activities in RAKFZ:
Trading: This is the most popular business activity in RAK FTZ. You can import and export goods, or you can act as a distributor for other companies.
Manufacturing: If you have a product that you want to manufacture, RAK FTZ is a great place to do it. The free zone offers a number of incentives for manufacturers, including low taxes and freehold property ownership.
Services: There are a variety of service businesses that can be successful in RAKFZ. This includes businesses such as accounting, consulting, and IT services.
Once you have selected the right business activities, you can start the process of setting up your business in RAKFZ.
Here are a few steps you need to take:
- Register your company: You need to register your company with the Ras Al Khaimah Free Trade Zone Authority.
- Obtain the necessary licenses: You need to obtain the necessary licenses from the government, such as a trade license and a business permit.
- Find a location: You need to find a suitable location for your business. There are a number of office spaces and warehouses available in RAK FTZ.
- Hire employees: If you need employees, you need to hire them through a local recruitment agency.
- Market your business: Once you have set up your business, you need to start marketing it to potential customers. You can do this through online and offline channels.
M.A Middle East Legal Consultancy can help you to select the right business activity in the Ras Al Khaimah Free Zone (RAKFZ). We have a team of experienced consultants who can help you with every step of the process, from selecting the right business activities to obtaining the necessary licenses and finding a location. We can also help you with the day-to-day operations of your business once it is up and running.
To get started, simply contact us on WhatsApp and we will be happy to answer any questions you have and help you get started.