Ras Al Khaimah is an Emirate with all business facilities available at rates more than 25% lower than the other Emirates of UAE. For this reason, the Emirate is chosen for setting up by businesses of all sizes small, medium and large. Ras Al Khaimah is also a wise choice of business destination for investors deciding to test the waters before making huge investments in UAE.
The Free Zones in Ras Al Khaimah – RAKIA and RAKFTZ – allow business registration at cost-effective rates without insisting on office spaces, which gives an opportunity to investors to study the market at lower costs before expanding their business. The world-class infrastructure and logistics network in the Emirate provide all the advantages of a highly active business hub at low costs.
The time taken to complete registration of a business varies with the type of business activity, location of registration and legal structure. The fastest process of registration is possible in Free Zones with just one day in case of certain businesses with one shareholder and 2 to 3 working days on an average.
The UAE does not impose a tax on personal incomes or corporate gains and Ras Al Khaimah is an Emirate of UAE governed under the same laws grants tax-free incomes to businesses.
The accounting and audit are required only in Ras Al Khaimah Free Trade Zone for renewal of the license. However, it is always recommended to keep the transactions well accounted for and audited for making timely management decisions.
The costs and procedures of Rak Freezone Business Setup and registering and licensing a company vary with the type of business activity, location of registration and legal structure. The Free Zones are cost-effective with the lowest cost of registration being AED 15,000/-.
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