RAK stands for Ras Al Khaimah. It is situated in The United Arab Emirates. The meaning of Ras Al Khaimah is “top of the tent.” The city of Ras Al Khaimah has two central areas namely Nakheel and the Old Town.
What is a Free Zone Company?
A Free Zone Company can sometimes also be known as free trade zone. It is basically an industrial area where goods can be stocked and processed with no duties or taxes.
Steps for RAK Free Zone Company Formation
An RAK free zone company formation is easy if you follow the below mentioned steps.
- The first and the foremost thing to do is to decide what kind of business activity you have to do. It could be professional, industrial or commercial activity.
- The second step is to decide an associate body. The conditions of your legal status are decided according to the type and nature of your business.
- There are three types of authorities in Ras Al Khaimah namely Free Zone, Mainland and Offshore. Mainland Company lets you do business in UAE or outside UAE. The company who is registered in the Mainland of Ras Al Khaimah has lot of opportunities. The free zone company in Ras Al Khaimah can set up your business easily and gives you a friendly environment. You can choose the authorities based on your feasibility.
- Before getting the certificate for your company’s name, wait for the initial approval.
- Find a good location to set up your business. Then choose a proper and exclusive name for your trade. You have to submit the decided name of your company to the Department of Economic Development (DED).
- When finally getting the initial approval and attaining the specifications and legal conditions, the owner should go to the related authorities to have their approval.
- Once you achieve the approval of the related authorities, the owner should proceed towards the step of license issuance by fulfilling the legal requirements. The owner should take approval from the Department of Economic Development (DED) before acquiring the license.
- The last step is to rent a place for your office. Consult
Monitoring & Consumer Protection Administration for renting a place. You
should pay a visit to the related authorities to get your business location
By following these steps, an RAK Free Zone Company set up can be done easily without a hassle.