Company Formation in
Ras Al Khaimah Mainland
Company Formation in Ras Al Khaimah Mainland
Ras Al Khaimah (RAK) is one of the seven emirates that make up the United Arab Emirates (UAE). While it may not be as well-known as its neighboring emirates like Dubai and Abu Dhabi, RAK is a fast-growing business hub and an attractive destination for investors looking to establish a company in the UAE. Being strategically located, Ras Al Khaimah provides easy access to other major markets in the Middle East, Asia, and Europe.
Ras Al Khaimah Mainland
Ras Al Khaimah mainland refers to the area in the emirate that is outside the free zones and is regulated by the Ras Al Khaimah Economic Zone (RAKEZ). This means that businesses operating in the mainland are subject to UAE laws and regulations, including the Commercial Companies Law and the Federal Law on Economic Activities.
One of the key advantages of setting up a business in Ras Al Khaimah mainland is its easy business setup process. The government has implemented several initiatives to make the process of starting a business quick and easy. The Ras Al Khaimah Department of
Economic Development (RAKDED) has made it possible to obtain all the necessary approvals and licenses in a single visit.
RAK mainland also offers a wide range of business activities, including manufacturing, logistics, tourism, and financial services. This means that businesses of all sizes and types can find a suitable niche in the Emirate.
Steps Involved in Company Formation in RAK Mainland
Determine the business activity:
You must determine the business activity that you want to engage in and ensure that it is permissible under the laws and regulations of RAK.
Choose a business structure:
You can choose to set up a Limited Liability Company (LLC), a sole proprietorship, a partnership, or a branch of a foreign company. Most businesses opt for LLC as it provides limited liability protection to its shareholders.
Reserve a trade name:
You must reserve a trade name for your company with the Department of Economic Development (DED) in RAK.
Obtain necessary approvals:
You will need to obtain approvals from relevant authorities such as the Ministry of Economy, the Department of Economic Development, and the Chamber of Commerce and Industry.
Draft and sign the Memorandum of Association (MOA):
This document outlines the company’s structure, objectives, and activities.
Register the company:
You must register the company with the DED in RAK and obtain a trade license.
Open a corporate bank account:
You will need to open a corporate bank account in RAK to conduct business transactions.
Obtain necessary visas:
You will need to obtain the necessary visas for the shareholders, directors, and employees of the company.
Benefits of
Setting Up a Business
in RAK Mainland
Benefits of Setting Up a Business in RAK Mainland
- Access to a large market
- Diverse workforce
- World-class environment
- Strategic location
- Business-friendly enivornment