Establishing a company in the free zone in Ras Al Khaimah

Learn about establishing a company in the Ras Al Khaimah Free Zone, as Ras Al Khaimah is one of the seven emirates that make up the United Arab Emirates, and is known for its investment attractiveness and the diversity of its economy. Establishing a company in the Ras Al Khaimah Free Zone represents an ideal opportunity for investors and aspiring entrepreneurs seeking to benefit from a favorable business environment, financial incentives, and simplified incorporation procedures. The Ras Al Khaimah Free Zone is distinguished by its strategic location, advanced infrastructure, and great support from the local government, making it a preferred destination for commercial projects at the regional and international levels. In this article, we will discuss the basic steps for establishing a company in this region, and the advantages that companies can achieve by choosing this distinguished location.

Establishing a company in the free zone in Ras Al Khaimah

Establishing a company in the free zone in Ras Al Khaimah

Establishing a company in the Ras Al Khaimah Free Zone provides many advantages to investors and companies. First, you must obtain a business license from the Free Zone Authority (RAKEZ), and this process usually takes 3 to 5 business days. After that, company incorporation and legal registration take place, which takes an additional 5 to 10 business days. This stage includes procedures such as obtaining an office or warehouse lease and registering the company with the relevant authorities.

In some cases, commercial activities may require obtaining additional licenses from the relevant authorities, and this may take from an additional week to a month. However, the key features of the Ras Al Khaimah Free Zone, such as tax exemptions and the possibility of 100% company ownership by a foreign investor, make it an attractive option for companies wishing to expand into the UAE and regional market. In general, the entire process of setting up a company in Ras Al Khaimah Free Zone takes from 2 to 4 weeks, depending on the requirements of the business.

Ras Al Khaimah Free Zone

Ras Al Khaimah Free Zone is one of the most prominent free zones in the United Arab Emirates, providing an ideal investment environment for local and international companies. The free zone is distinguished by its strategic location in Ras Al Khaimah, which allows easy access to regional and international markets via nearby ports and airports. It also has an advanced infrastructure that includes modern offices, warehouses, industrial facilities, and highly efficient logistics services. The free zone offers attractive financial incentives that include full tax exemptions and 100% foreign ownership, making it a preferred destination for investors and entrepreneurs seeking growth and prosperity in a supportive and stable business environment.

The specific time period for establishing a company in the free zone

The time period specified for establishing a company in the free zone in Ras Al Khaimah in the United Arab Emirates is as follows:

Obtaining a business license from the Ras Al Khaimah Free Zone Authority (RAKEZ): This process usually takes between 3 to 5 business days.
Company incorporation and legal registration: This part of the process takes between 5 to 10 working days, and includes obtaining an office or warehouse lease and registering the company with the relevant authorities.
Obtaining additional licenses according to the type of business activity: Some activities may require obtaining additional licenses from the relevant authorities, which may take from an additional week to a month.
In general, the total time period for setting up a company in the Ras Al Khaimah Free Zone ranges between 2 to 4 weeks, depending on the nature of the business and any additional requirements. However, the time period may vary somewhat depending on the individual circumstances of each case.

Conditions for establishing a company in the free zone in Ras Al Khaimah

Ras Al Khaimah Free Zone is one of the most attractive areas for investments in the United Arab Emirates, providing an ideal environment for business and trade. To establish a company in the Ras Al Khaimah Free Zone , some basic conditions and procedures must be met. Here are the most important conditions:

• Choosing a business: You must determine the type of business activity you want to practice in the free zone. The available business activities are diverse and include trade, industry, services, technology, and others.
• Choosing a company type: Investors can choose the appropriate company type for their business such as a limited liability company (LLC), a sole proprietorship, a branch of a foreign company, or a limited free zone company.
• Commercial Registration: The company must be registered with the Ras Al Khaimah Free Zone Authority. This requires submitting necessary documents such as a copy of the passport, personal photos of the founders, registration application form, and company articles of association.
• Paid-in capital: Paid-in capital requirements vary based on the type of business and the size of the company. The capital must be transferred to a local bank account in the UAE.
• Lease Contract: A lease contract must be obtained for an office or work space within the free zone. The free zone provides a variety of office and warehouse space to meet the needs of different companies.
• Obtaining licenses: After completing the registration process, you must obtain the necessary licenses to practice commercial activity. These licenses include the commercial license and the private business activity license.
• Employment: Companies in the free zone can easily employ foreign workers, and the free zone provides quick and easy work visa issuance services.
• Compliance with Laws: Businesses must comply with all local laws and regulations, including tax laws, labor laws, and environmental regulations.

Establishing a company in the Ras Al Khaimah Free Zone offers many benefits such as full foreign ownership, tax exemptions, and ease of transferring profits abroad, making it an attractive destination for investments and businesses.

The importance of establishing a company in the free zone

Establishing a company in the Ras Al Khaimah Free Zone carries many benefits that make it a preferred destination for investors and entrepreneurs from around the world. The importance of this investment decision is evident in several aspects, including:

• Tax exemptions: Ras Al Khaimah Free Zone offers attractive tax exemptions, including complete exemption from corporate and individual income tax, and no value-added tax (VAT) on goods and services. This enhances companies’ profitability and contributes to reducing operational costs.
• Full Foreign Ownership: Ras Al Khaimah Free Zone allows foreign investors 100% full ownership of companies without the need for a local partner. This gives investors complete freedom to manage their companies and make strategic decisions.
• Simplified procedures: The process of establishing companies in the free zone is characterized by ease and speed, as bureaucratic procedures can be completed in a short time and with minimal effort. Local authorities provide great support to facilitate business start-up and provide necessary guidance.
• Advanced Infrastructure: Ras Al Khaimah Free Zone has a modern and advanced infrastructure that includes offices, warehouses, and industrial facilities, in addition to excellent logistical services. This infrastructure contributes to improving the efficiency of business operations and facilitating business growth.
• Strategic Location: Ras Al Khaimah is located in a strategic location that allows companies to easily access regional and international markets. Thanks to its proximity to major ports and international airports, companies in the free zone can benefit from an efficient logistics network.
• Business-friendly environment: Ras Al Khaimah Free Zone provides a supportive environment that encourages innovation and growth. Companies provide access to consulting services, training programs, and business events that help develop businesses and enhance competitiveness.
• Political and economic stability: Ras Al Khaimah, and the United Arab Emirates in general, enjoys political and economic stability that ensures a safe and reliable environment for investment. This enhances investor confidence and supports long-term business sustainability.

In short, establishing a company in the Ras Al Khaimah Free Zone represents a golden opportunity for investors to achieve growth and prosperity thanks to the financial incentives and administrative facilities provided by this region.

In summary, the Ras Al Khaimah Free Zone has many advantages that make it an attractive option for setting up a new company. From obtaining a business license and quick legal registration, to tax exemptions and the possibility of 100% ownership of the company by a foreign investor, the process makes it easier for investors to establish and expand their business in the UAE and abroad. Given the increasing strategic importance of free zones in supporting the UAE’s economic growth, establishing a company in the Ras Al Khaimah Free Zone can be a major step in the path of success for ambitious investors.

Frequently asked questions about establishing a company in the free zone