RAK free zone is a good choice for company setup for it has many benefits for outside region investors. From a wider range of options for office space to other facilities, there is everything you will need to start a business and run it effectively.
But before getting to the process of company formation in RAK, there are some interesting facts to know.
- RAK is a popular tourist destination, so starting a tourism related business may be a good idea
- It is located between Hajar Mountain on the east and the Gulf on the west, which makes it a preferred hotspot for tourists from across the world.
- Local citizen makes up only 20% of the total population, which means you will be dealing with people from different cultures. And this is a kind of exciting experience.
- Despite not being a oil producer, it has hugely made development in a wide range of sectors such as manufacturing. A home to many international companies and government agencies!
Setting up a company in RAK, UAE
RAK provides all required resources for setting up a company in the UAE.
Whatever you want to do, you need to follow these steps to form a company.
Customize your package
Before getting ahead, choose your legal entities, license type, and desired facility.
- Business license: There are four types of licenses –commercial, consultancy, industrial, educational.
- Legal Entities: Choose from legal entities which include- Free Zone, Establishment (FZE), Free Zone Company (FZC), Branch of Local Company, and Branch of a Foreign Company.
- Facilities:The types of facilities available are – Flexi Desk & Offices Standard & Executive Offices, Shell & Core Offices, and Warehouses, Industrial Land.
Submit application along with required documents
This is the most important and complex stage of company formation process in RAK, UAE. You should take the help of a business development consultant to guide you through the process of filling out the documents in order to ensure that all requirements are met.
Obtain RAK free zone letter
Upon submission of application, and once the application is approved, you will get a letter addressed to Emirates Post, entitling you to obtain an Emirates Postal ID. Based the activities and package you choose, you get a bank letter, which entitles you to open a company bank account and deposit the required share capital.
Get your trade license
Once licensing formality is completed, your license along with your registration set will be issued to you, and then you can begin the visa application process.
Just follow these steps for the RAK Free Zone Company Setup, however, as easy it sounds setting up a company as it is not, indeed. So it is better rather than doing it on your own, let a good company formation firm do this all for you.
