Ras Al Khaimah is one of the seven UAE emirates that is located just 45 minutes from Dubai City with close proximity to Oman. Its location and government efforts to market the region as the ideal business setup location have positioned it as the go-to investment region for foreign investors.
The region hosts a wide range of international companies that boost its economic growth making it ideal for Indian investors seeking to tap into international markets.
RAK mainland company formation requirements
RAK mainland company formation is regulated by the UAE government policies and legal structure. They fall under the Emirates government jurisdictions.
Investors choose among limited liability companies, public shareholding companies, professional firms, branches of foreign companies, and representative offices when forming companies in RAK.
RAK business setup process is easy but investors must adhere to documentation formalities and legal procedures that include; having a local service agent, specifying the economic type and legal business formation, applying for company registration, registering the company name with the Economic Development Department, filing the relevant documentation with the chamber of commerce and the DED, notarizing company MOA, and obtaining required government approvals.
Benefits of Ras Al Khaimah mainland company formation
No business activity restrictions: though the UAE welcomes investors from all parts of the world, some of its business regions are strictly restricted to particular business activities. This is not the case for RAK mainland; investors are at liberty to conduct any type of business activity they resonate with.
No visa limits: RAK mainland business setups are allowed to apply for many employee visas. This provision serves to support companies as they grow and expand by ensuring that they have adequate and qualified employees to help them achieve their international business goals.
Cost-effective and tax-free: the RAK mainland company formation and licensure acquisition fees are affordable. To further encourage investors, the region does not have initial capital requirements making it, even more, cost-effective for business startups.
Though VAT has been implemented in the entire UAE region for certain products and services, investors in the RAK Emirates are not subject to paying income and corporate taxes.
Being one of the most developed Emirates economies, Ras Al Khaimah has been witnessing an influx of both local and foreign investors alike. State-of-the-art infrastructures, a thriving economy, liberal government policies, and cordial trade relations with other countries are some of the core factors that position RAK as the ideal company formation destination in the UAE.
However, there are legal procedures, licensing, and business formation requirements that must be fulfilled prior to the RAK mainland company formation setup.
Hence, it is advisable to seek RAK business formation services to ensure that you comply with the set rules and regulations and have your company up and running within the shortest time possible.