Is the Ras Al Khaimah Free Zone Company Formation Right for You?

Deciding whether Ras Al Khaimah Free Zone (RAK FTZ) is right for you depends on various factors such as your business activities, budget, target market, and growth plans. Here are some key points to consider when evaluating RAK FTZ for company formation:

1. Business Activities: RAK FTZ is suitable for a wide range of business activities including trading, manufacturing, consulting, and services. Ensure that your intended business activity is permitted within the free zone.
2. Cost: RAK FTZ offers competitive pricing for company formation and operating costs. Compare the cost of setting up and running your business in RAK FTZ with other free zones and jurisdictions to determine if it fits your budget.
3. Location: Consider whether the location of RAK FTZ meets your business needs in terms of access to markets, suppliers, and customers.
4. Facilities and Infrastructure: Evaluate the facilities and infrastructure provided by RAK FTZ such as office space, warehouses, and logistics services to ensure they meet your requirements.
5. Tax Benefits: RAK FTZ offers 100% foreign ownership, 100% repatriation of capital and profits, and zero corporate and personal income taxes. Consider whether these tax benefits align with your business goals.
6. Legal and Regulatory Environment: Understand the legal and regulatory framework in RAK FTZ including company registration requirements, licensing procedures, and compliance obligations.
7. Support Services: Consider the support services provided by RAK FTZ such as business setup assistance, visa processing, and corporate banking services.

How Does the Ras Al Khaimah Free Zone Company Formation Work?

The process of company formation in Ras Al Khaimah Free Zone (RAK FTZ) involves several steps:

1. Choose your business activity: Decide on the type of business activity you want to undertake in RAK FTZ. Make sure that your chosen activity is permitted within the free zone.
2. Choose your company type: Select the type of company you want to establish. RAK FTZ offers various company types including Free Zone Establishment (FZE), Free Zone Company (FZC), and Branch of an Existing Company.
3. Choose your license type: Depending on your business activity, choose the appropriate license type from the options provided by RAK FTZ. License types include commercial, industrial, consultancy, and service licenses.
4. Submit application and required documents: Prepare and submit the application form along with the required documents to RAK FTZ. The required documents typically include:
   • Completed application form
   • Passport copies of shareholders and directors
   • Business plan
   • NOC (No Objection Certificate) from current sponsor (if applicable)
   • Power of Attorney (if using a representative)
5. Name approval and registration: Once your application is reviewed and approved, you will receive a notification from RAK FTZ confirming the approval of your company name and registration.
6. Payment of fees: Pay the relevant fees for company registration, license issuance, and any other applicable services.
7. Signing the Memorandum of Association (MOA): If establishing an FZE or FZC, you will need to sign the MOA.
8. Visa processing (if required): Apply for visas for shareholders, directors, and employees if required. RAK FTZ provides assistance with visa processing.
9. Company activation: Once all the necessary steps are completed, your company will be activated, and you can start conducting business.
10. Opening a bank account: Finally, you can open a corporate bank account for your RAK FTZ company to start your business operations.

If you also have requirement for RAK Freezone company formation then feel free to connect with our team and we will provide complete assistance hassle free process to setup your company in RAK Freezone and enjoy its benefits.