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  • RAK Company Formation – Offshore and Free Zone – in the UAE

RAK Company Formation – Offshore and Free Zone – in the UAE

RAK Company Formation with RAK Investment Authority (RAKIA)

Introduction – Free Zone Focus

RAKIA’s promise to its clients is that it will enhance their success and prosperity. It will ensure the emirate of Ras Al Khaimah benefits from fast, continued growth by being appealing to investors from the local and foreign markets.

After 4 years from its establishment, RAKIA has managed to attract over US$2.5 billion in business investments resulting in an extraordinary economic growth and Ras Al Khaimah becoming an international and regional business centre and one of the fastest growing emirates in the region and in the whole of the UAE.

RAKIA has developed to be a key provider of business opportunities with its one-stop facilities in the free zones, industrial zones and offshore facilities.

His Highness, Sheikh Saud bin Saqr Al Qassimi, Supreme Council Member and Ruler of Ras Al Khaimah, has issued the Emiri Decree No. (32) of 2012, which states that the services and products available by RAKIA are the following:

  • Issuing business licenses of all types of companies in RAKIA’s industrial zones and free zones
  • Providing business facilities (industrial plots, commercial centre, office space, accommodation, warehouses etc.)
  • Issuing licenses for offshore companies as per the Authority Free Zone Regulations, 2006
  • Issuing permits and visas

To see  RAKIA’s Interactive Presentation, Corporate Video, Brochure, Google Map and useful Application Forms follow this link

RAK Offshore

Clients use offshore facilities for many reasons, such as incorporating companies, holding foreign assets in real estate and in finance, incorporating holding companies and SPV’s, inheritance planning, tax planning and ship registration.

Advantages of United Arab Emirates and RAK Offshore

Prices and Start-Up Packages:Fees for the First Year and Subsequent Years
RAK ICC Offshore Company Registration for $99Company Formation Fees and Annual Fees
Dubai or RAK Free Zone Company Formation for $1.450Incorporation Fees and Annual Running Fees
UAE VAT, Tax, Accounting and Other FeesFees for Other Services
Click Here For 5 Steps Dubai, RAK And UAE Company FormationEmail us Now to Get Quotation
  • The United Arab Emirates has a “real” economy and is a “real” country
  • The United Arab Emirates is white-listed and is not a dependent or overseas territory of any other country
  • The United Arab Emirates has Double Taxation Avoidance Agreements (DTAA’s) with over 40 countries

What is needed to establish a RAK Offshore company?

Offshore companies incorporated in the UAE need:

  • A registered agent (lawyer, accountant or business consultant), who is located locally and who is approved by the authority with which the offshore company is registered
  • A registered office of the registered agent, whose address is the mailing address of the offshore company

RAK offshore clients are able to register their private yachts and boats in RAK, with an easy registration procedure, low registration and maintenance fees

RAK Offshore has over 300 registered agents who have set up over 8000 offshore companies.

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Free Zone and Non-Free Zone Companies

Differences between Free Zone and Non-Free Zone Companies:

Free Zone Non-Free Zone
Foreign Ownership 100% Foreign Ownership 51% Local partner necessary
Income & Corporate Tax 100% Tax Free 100% Tax Free
Business Horizon Suitable for export business only. Although, free zone companies can also trade products in the UAE via a licensed local distributor or agent. In these cases normal customs duty is charged Business activities within the UAE
Capital & Profit Repatriation 100% Allowed 100% Allowed
Hiring of Expatriates No restrictions UAE labour laws apply

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 Competitive Advantages: Why RAKIA?

  • 100% foreign ownership in free zones
  • 0% income and personal tax
  • 0% corporate tax and VAT
  • 100% repatriation of profits and capital
  • 100% liberal labour laws
  • Zero foreign exchange controls
  • Zero hiring restrictions
  • Zero barriers to trade or quotas
  • One-window clearance for licenses and consents
  • Connected to airports and seaports
  • Modern infrastructure, telecommunications and utilities
  • One-stop shop for all types of Free Zone and Non-Free Zone licenses
  • Low cost of rent
  • Strong support provided to businesses by the government
  • Excellent geographical location connecting trade between East and West and access to the Middle East, India, CIS countries and Africa
  • Low cost of living in RAK and breathtaking natural beauty

Contact Details:

RAK Investment Authority
Government of Ras Al Khaimah
P.O.Box No. 31291
Ras Al Khaimah
United Arab Emirates.

Phone: +971 7 206 8666
Fax: +971 7 243 4464
Toll Free No: 800 RAKIA

Email: info@rakinvestmentauthority.com
Website: www.rakinvestmentauthority.com

Key People:

Chairman of RAKIA: His Highness Sheikh Ahmad Saqer Mohamed Al Qasemi

CEO of RAKIA: Rino Sabatino

RAK Investment Authority Company Registration Process

Setting up a company with RAKIA is simple, quick, cheap and hassle free.

Documents Needed for the Registration of Free Zone Companies:

Establishment Single Owner Limited Liability Company Two or More Partners Branch (Foreign or Local)
Application form Application form Application form
Business plan – for industrial licenses Business plan – for industrial and trading licenses Business plan – for industrial and trading licenses
Professional and Experience Certificate – for professional, consultancy and services licenses Professional and Experience Certificate – for professional, consultancy and services licenses Owner / Manager’s Passport copy
Owner / Manager’s Passport copy Owner / Manager’s Passport copy Original bank statement for the last 3 months
Certificate of Incorporation – Attested and Notarized
Memorandum of Association and Articles of Association – Attested and Notarized
Board Resolution to Set Up Branch – Attested and Notarized
Power of Attorney Appointing Representative – Attested and Notarized

The documents from outside the UAE need to be attested or legalized by UAE, GCC or Arab embassies in the country of origin.

Additional documents may be requested.

 Documents Needed for the Registration of Non-Free Zone Companies:

Establishment
Single Owner
Limited Liability Company
Two or More Partners
Branch
(Foreign or Local)
Application form Application form Application form
Business plan – for industrial licenses Business plan – for industrial and trading licenses Business plan – for industrial and trading licenses
Professional & Experience Certificate – for professional, consultancy and services licenses Professional & Experience Certificate – for professional, consultancy and services licenses Owner / Manager’s Passport copy
Owner / Manager’s Passport copy or copy of Book of Nationality – for UAE nationals Owner / Manager’s Passport copy or copy of Book of Nationality – for UAE nationals Original bank statement for the last 3 months
Certificate of Incorporation – Attested and Notarized
Memorandum of Association & Articles of Association – Attested and Notarized
Board Resolution to Set Up Branch – Attested and Notarized
Power of Attorney Appointing Representative – Attested and Notarized

The documents from outside the UAE need to be attested or legalized by UAE, GCC or Arab embassies in the country of origin.

Additional documents may be requested.

Click Here to download the application forms

Applying for Visas

There is no limit to the number of visas issued for a company however the number depends on the company’s activities and is subject to RAKIA’s approval.  Expatriates working at RAKIA companies are not allowed to work outside RAKIA free zone.

Click Here for detailed information regarding, fees, requirements and processing time etc regarding the issuing of all Visa types.

Applying for Permits

Before any new site modification is started, the licensee must obtain a Temporary Construction Permit and have the plans approved by RAKIA’s Operations Department before obtaining a Building Permit. An Occupancy Certificate (OC) is issued by RAKIA when the work, as per the Building Permit, is finished. The OC is valid for a year and is renewed yearly.

Click Here to download the application forms

RAK Investment Authority Services

  • Types of companies registered at RAKIA
  • Type of licenses issued by RAKIA
  • Visas
  • Permits

Types of Companies Registered at RAKIA

  • Establishment (FZ/IZ) – Incorporated by one shareholder, either an individual (a person) or a non-individual (a company)
  • Limited Liability Company (FZ-LLC/LLC) – Incorporated by minimum two or more partners, ie by individuals (people), non-individuals (companies) or both individuals and companies
  • Foreign or Local Branch – Licenses are issued to companies which have a valid license from any licensing authority either in UAE or outside the UAE


Types of Licenses issued by RAKIA

A client must have a valid license from RAKIA and a valid lease for premises in order to conduct business in RAKIA free zone or non-free zone.

  • Industrial License – Manufacturing, processing, assembling, packaging etc.
  • Commercial License – Maintenance, contracting, repairing,  renting, retail outlets, restaurants etc.
  • Trading License – Import, export, trading, distribution, warehousing (up to 5 activities from similar product lines or 3 activities from 2 different product lines).
  • General Trading – All kinds of trading, import, export, distribution of goods, warehousing.
  • Consulting / Services License – Management services, business, industrial consultancy or professional services such as real estate consulting.
  • Media License – Media and communication services

Note: Companies with different activities are issued separate licenses for each activity.

Visas

RAKIA free zone and non-free zone companies with valid licenses are eligible for visas in order to employ expatriate employees.

Visa types are:

  • Investor visa
  • Employment visa
  • Residence visa
  • Visit visa

Click Here for detailed information regarding, fees, requirements and processing time etc regarding the issuing of all Visa types.

Permits

Licensees of RAKIA land, warehouses or other property who wish to make structural modifications, must follow the RAKIA Building Regulations.

RAK Investment Authority Products

  • Industrial Plots
  • Warehouses / Light Industrial Units (LIUS)
  • Executive office space
  • Cubicle offices
  • Flexi desks

Industrial Plots

Industrial land is located in Al Ghail and Jazeera Al Hamra and industrial zones. It is suitable for all sizes of manufacturing companies.

Industrial Land Features:

  • Free zone as well as non-free zone plots
  • Own power plant of 65 MW for the industrial zone
  • Modern infrastructure, with roads, water, electricity, gas and sewage plant
  • Near Fujairah Port and Saqr Port
  • Self-contained industrial zones complete with commercial centres, warehouses, labour housing and public utilities
  • Permits granted to build offices, warehouses, houses on leased plot
  • Suitable for all sizes of companies of all sizes (plot minimum size is 5,000m2 up to any size)
  • Long leases – up to 25 year leases which are renewable

Industry plots are suitable for industries such as:

  • Industrial (electrical, electronics, mechanical)
  • Pharmaceuticals
  • Plastic & rubber
  • Construction material and chemicals
  • Steel & stainless steel products
  • Food
  • Consumer durables and non-durables
  • Glass
  • Chemicals
  • Packaging
  • Clothing
  • Auto and auto parts
  • Paints
  • Tableware
  • Refractory products

Warehouses and Light Industrial Units (LIUS)

RAKIA’s warehouses are located in Jazeera Al Hamra.  RAK Warehouse Solutions offer ready-made warehouses that are suitable for storage and light industrial activities such as packaging, service centres, workshops, assembly units.

Warehouse Features:

  • Free-zone and non-free zone warehouses
  • Warehouse sizes are from 311m2 up to 10,000m2
  • Flexible designs
  • Offices and other rooms can be built inside the warehouse
  • Car parking
  • Labour and staff housing is nearby
  • Each warehouse has 15KVA connection (additional load available)
  • Security systems
  • Long leases – up to 10 years which are renewable
  • Central location, near RAKIA health centre and Al Hamra shopping mall

Executive Office Space

RAK Executive Offices Solutions offers office space for all types of companies and are suitable for companies with a large number of employees.

Executive Office Features:

  • Office sizes from 32m2 to 500m2
  • Twin Tower new building with floor area of 29,000 sqm located in Jazeera Al Hamra
  • More than 300 commercial and office spaces
  • Unfurnished office spaces with full amenities
  • Use by RAKIA’s registered companies such as manufacturing companies, traders, consultants etc
  • Bank, ATM, retail shops, restaurants within the complex
  • Near Government offices
  • Car parking
  • 24/7 security
  • 3 year leases

Cubicle Offices

Cubicle Offices are partly partitioned office spaces.  They are suitable for companies with activities such as trading, consultancy, professional services. Sizes range from 10m2 to 25m2.

Flexi Desks

Flexi Desks are ideal for new set ups.   Flexi Desk solutions are flexible, with no long leases and are low in cost.  This type of office space is fully furnished and equipped with full amenities.  Clients can share a fax and PO Box number.

RAKIA’s Major Clients

Company Line of Business Country of Origin
Vesuvius Ras Al Khaimah Refractory materials UK
Eternity Technologies Industrial batteries India
POSCO Steel Steel products South Korea
Saver Glass LLC Glass France
Seah Steel Steel pipes & fittings South Korea
Mahindra Emirates Armored vehicles India
Peikko Steel connectors Finland
ITW Insulation Systems Insulation materials USA
Zamil Steel Steel KSA
Franke SS Washroom products Switzerland
Maico Gulf Ventilation systems Germany
Kirby Steel Steel products Kuwait
Becker Paints Paints manufacturers France
Novas Sealing Industrial gaskets UK
Kludi RAK Water taps & faucets Germany
Ashok Leyland Bus & heavy vehicles assembly India
Kempe Engineering Industrial equipment Australia
Guardian Industries Float glass USA
Duscholux Sanitaryware Germany
RAK Steel Steel products India
Pioneer Cement Cement India
Dabur India Herbal products India
RAK Ghani Glass Glass products Pakistan
Global Glass Solution Glass manufacturers Jordan
Mitsui Japan Fabric Japan
JBF RAK Polyester products India
Falcon International DVD’s Switzerland
Arc International Tableware France

Information to download:

RAKIA Corporate Video

RAK Investment Authority (RAKIA) Map

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