Step by Step Guides to Follow the Things While Setting up a Business in RAK Free zone

Author: Aaqil Faraj

The Ras Al Khaimah is based in the UAE’s northernmost end and shares hilly borders with the Sultanate of Oman. Lapped between the West’s Arabian Gulf and the East’s Hajjar Mountains, the RAK is located just 45 minutes away from the city of Dubai which also takes all the credits for being the most rapidly evolving investment destinations for all the global investors. What makes RAK stand unique amongst other free zone jurisdictions in the country and a favourable location for setting up a business in Dubai is its strategic geographical location. The RAK region also shares proximity with Pakistan, India, China, and Iran followed by the CIS or Commonwealth of Independent States.

Not only does RAK takes pride in having ease of accessibility but also involves a smooth and hassle-free administrative process and closeness to all the key offshoring destinations and prominent ports of the city.

Simple Guidelines for Business Setup in RAK Free Zone

While the entire process involving business setup RAK free zone might be easy, you must be wary of all the legal procedures that come along with it along with the document procedures for which you can seek help from a professional team.

The steps involved for RAK free zone are:

Determine and Finalise Your Business Activity

You have to first decide and narrow down the business activity for your business for RAK free zone company setup. You can categorise the business activities either under the industrial sector, professional sector, or even under the commercial sector. For the trading of goods for businesses and consumers, the industrial businesses followed by the retail businesses are engaged. As for the professional companies, they either offer commercial professional solutions like consulting, accounting and management, etc. The industrial companies on the other side conduct good packaging, processing, and manufacturing.

Decide on the Business’ Legal Structure

The following step is that of determining the corporate entity. You can choose your legal structure based on your business activities. The business type and nature determine the legal status conditions.

Choose the Jurisdictions According to Your Requirements

In Dubai, there are three primary jurisdictions in all of Offshore, Free Zone, Mainland, and in RAK as well. The mainland region provides the scope of operating business both in the interiors and in the outside regions of the country. For companies who wish to go for RAK free zone company formation, there are a plethora of possibilities. The RAK free zone is just 45 minutes away from Dubai and offers an amazingly-well business-oriented ambiance to its business owners combined with cutting-edge services and the easiest setup procedure with zero bureaucracy.

You can choose from a variety of setups that vary from Flexi-desks to core-offices and multi-floor offices followed by industrial warehouses as well.

Get The Initial Approval to Move with Your Business License Issuance Process

The investor might get the initial approval before getting the company name certificate. The initial approval allows the investor to move on with their business license issuance process and address related to the concerned authorities to get all their support. You cannot perform your business activities until of course, you have obtained the Ras al Khaimah free zone company license.

Consider Registering Your Business Name

After you have decided on the business location for setting up a business in Dubai, your next step would be to pick a unique and suitable business name for the company. After you have finalised the trade name, you are required to submit them to the DED or the Department of Economic Development.

Application and Submission of Key Documents

Once you obtain the initial approval and have met all the legal conditions and requirements, the investor is required to pay their visit to the concerned authorities to get their consent. The required activities are determined by the defined ministries, although certain kinds of activities might need permission from the DED.

The important documents for RAK free zone company setup are:

  • Photocopy of the certified tenancy contract
  • Photocopies of residence certificates, passport, visa, and no objection letter
  • Photocopy of either the legal affairs or the land map
  • Getting consent from the legal affairs
  • Signboard followed by the license application form
  • Obtaining ministry of economy approval
  • Make sure you have all the key approvals so you can produce them when need be.
  • Obtaining a partnership certification contract from the notary public
  • Photocopies of the family book and national ID
  • Obtaining the report of technical evaluation
  • Getting a certificate for trade name.

Obtaining a Business License

Once the stakeholder has obtained permission from the related authorities, he/she might move on to the level of catering to all the legal requirements involved in the issuance of a business license. You can complete this procedure by obtaining approval from the DED before you finally obtain the license.

Get An Office Space on Rent

Under this step, the business owner can take a business site for rent, after paying a visit to the Monitoring and Consumer Protection Administration in the DED. Additionally, they can also pay their visit to other important authorities and give consent for business setup RAK free zone.

Ras al Khaimah free zone company license is largely struggled for by the entrepreneurs, given how the jurisdiction has a combination of stable political scenarios paired with a robust economy. The dubaibusinesssetup.ae is the leading consultant agency offering all the help for company formation in RAK.