Business Setup in Ras Al Khaimah (RAK)
Start your business in Ras Al Khaimah and unlock the opportunities to grow your business in RAK and its neighbor Dubai. Gryfffin Capitalist can help with with business setup in RAK.
Our business setup packages include:
- Business License
- Memorandum and Articles of Association
- Account Manager
Why Set up a business in Ras Al Khaimah (RAK)?
Ras Al Khaimah (RAK), one of the seven emirates of the United Arab Emirates (UAE). RAK has been growing steadily in recent years as an attractive destination for investors and entrepreneurs. As an Investor if you are looking to start or expand your business in the region.
RAK offers a diverse economy, a business-friendly environment, and access to international markets. RAK is an ideal location for businesses of all sizes and industries. Entrepreneurs and businesses should consider setting up their business in Ras Al Khaimah (RAK). RAK offers a strategic location with access to international markets close to major ports and airports in the UAE.
RAK offers a business-friendly environment with low costs of doing business and competitive company setup costs. The business setup process is seamless. RAK also has several free zones that offer 100% foreign ownership, tax exemptions, and other incentives to foreign investors.
Moreover, RAK has a diverse economy with thriving tourism, manufacturing, real estate, and trade sectors. It also has a stable political and economic environment with a pro-business government that promotes foreign investment and economic growth. Business setup in RAK offers entrepreneurs access to a dynamic market with a supportive business environment.
Now, let us discuss setting up a business in RAK. The types of legal entities, the registration process, and the benefits of doing business in this emirate.
Types of Business Setups in RAK
Gryffin Capitalist is familiar with RAK company formation laws and regulations and can help you set up your business. RAK authorities provide company formation options, which include:
- Free Zone Company (FZC)
- Offshore Company Formation
- Limited Liability Company (LLC)
- Branch Office
Ras Al Khaimah Business Setup License
Ras Al Khaimah (RAK) offers different business licenses, depending on the business activity you want to conduct. Here are some common types of RAK Trade Licenses:
- Commercial License
- Industrial License
- Professional License
- Tourism License
- Media License
- Educational License
- E-commerce License
Benefits of Ras Al Khaimah Company Formation
Ras Al Khaimah (RAK) offers several benefits for entrepreneurs and businesses looking to start or expand their operations. Here are some of the key benefits of starting a business in RAK:
- Strategic Location
- Business-Friendly Environment
- Infrastructure
- Skilled Workforce
- Free Trade Zones
- Diversified Economy
- Quality of Life
Procedure for Business Setup in RAK
Setting up a company in Ras Al Khaimah (RAK) requires following a few steps and procedures. Here is an overview of the process:
We must decide on the business activity you want to conduct in RAK. The business activity will determine the type of business entity you want to setup. The legal requirements that we must fulfill.
Choose a unique and available name for your company. We should ensure it complies with the RAK Department of Economic Development (RAK DED) naming conventions.
Obtain initial approval for your business activity and company name from RAK DED.
Draft the MOA outlining the company's structure, shareholding, and activities. A public notary in RAK needs to notarize the documents.
Submit the documents and apply for a trade license from the RAK DED. This license allows you to conduct business in RAK.
Depending on your business activity, you may need approvals from government departments, including the RAK Chamber of Commerce, the Ministry of Economy, and the Ministry of Health.
Lease office space for your company in RAK. This is a mandatory requirement for obtaining a business trade license.
If your company makes more than AED 375,000 each year, you must register for Value Added Tax (VAT) with the Federal Tax Authority (FTA).
Open a bank account for your company’s seamless operation in RAK.
Once all the above steps are completed, you can commence business operations in RAK.
Company setup in RAK offers several benefits for companies starting operations in the UAE. RAK provides a strategic location, low operating costs, investor-friendly policies, and excellent infrastructure. It is also close to Dubai and is an attractive destination for businesses of all sizes and types.
We recommend getting help from a legal or business expert. They can ensure you follow all the rules when starting a company in RAK.
Document Requirements for Obtaining a Business License in RAK
- Application form
- Copy of passport and visa
- Business plan
- Memorandum of Association (MOA) (For Branch)
- Lease agreement for office space
- Trade name reservation certificate (For Branch)
- No objection certificate from sponsor (for expatriate investors)
- Power of attorney (if required)
What our clients say
Thanks to Gryffin Capitalist, starting my business in the UAE was smooth and efficient. They offered advice on company formation and licensing and assisted in opening a bank account.
Starting a business in the UAE seemed complicated, but Gryffin Capitalist made it seamless. The team is very knowledgeable, professional, and responsive.
I had a great experience registering my company in the UAE with Gryffin Capitalist. The Gryffin Capitalist team assisted in selecting the right Emirate to complete all legal steps.
Why Choose Gryffin Capitalist?
We provide our clients with business setup services in Ras Al Khaimah (RAK). We will thoroughly understand your business requirement, and our Business Setup Consultants in RAK will provide customised solutions.
A business formation expert can assist you in opening corporate bank account. They can also help you choose the right bank for your needs. They can handle your licensing application.
We at Gryffin Capitalist can assist you with the required services for your company's setup in the UAE. Contact us if you are planning to start your company, and we will be happy to help.
Quality Professionalism
High Privacy
Strong belief in long-term client relationships
Competitive Market Pricing
Global Footprint
Efficient and Transparent Process
Popular Links for UAE Location
Important articles entrepreneurs should read and have clarity before deciding the company structure, business activity and business setup locations.
Frequently Asked Questions (FAQs)
The steps of starting a Business in Ras Al Khaimah
• Identify the type of business activity
• Determine the Establishment's Legal Category
• Register a Trade Name
• Obtaining Approvals from Concerned Authorities.
Compared to neighboring emirates, the cost of labor and premises in Ras Al Khaimah is frequently lower. Ras Al Khaimah offers attractive packages through its free zone to entice UAE-based entrepreneurs to expand their horizons.
Here are the essential steps for starting a business in a free zone.
• Determine the legal entity type
• Choose a business name
• Make an application for a business license
• Select an office space
• Obtain pre-approvals, register your company, and obtain your license.
RAK trade license provide less expensive option.
You can set up various business structures, including:
- RAK Free Zone Company: For businesses wanting to operate within a freezone.
- RAK Mainland Company: Allows for more business activities and gives access to the local markets.
- RAK Offshore Company: This is for businesses looking to operate internationally.
Yes, businesses do require office space to operate in Ras Al Khaimah Mainland.
The timeline can take from days to weeks, depending on the completeness of documentation and processing by the local authorities.
