Interesting facts about RAK?
- RAK is a popular tourist destination with visitors from the UK, Europe, Russia, and USA travelling to the Emirate for a truly relaxing break and staying in one of the five star hotels. Many Dubai residents also own properties here choosing to stay for the weekends to escape the hustle and bustle of the city;
- Nestled between the Hajar mountain range on the east and the Gulf on the west, the emirate of RAK, which literally means “top of the tent” in Arabic, lies within the northernmost part of the UAE;
- RAK is estimated to have a total population of 300,000. While UAE citizens officially make up less than 20% of the population in the UAE, this figure is higher in RAK. Emiratis are thought to make up at least 50% of the emirate’s population;
- Not being a producer of oil, RAK has focused on developing its industrial sector. The emirate is home to many national institutions, government agencies, and international companies;
- On 17 February 2006, Space Adventures announced its plans to develop a US$265 million commercial spaceport in RAK for space tourism.
Frequently asked questions
How long does it take to incorporate a RAK Free Zone company?It takes 2 weeks to setup a business in RAK Free Trade Zone.
What are the benefits of incorporating a RAK offshore company?An offshore RAK company setup allows entrepreneurs to i) pay no customs duties and ii) no corporate tax.
What is the RAK Company formation fee?Forming a RAK company amounts to US$8,200 including company incorporation, corporate bank account opening and Government fees.
How can a foreigner register a RAK company?In order to setup a business in RAK, foreign entrepreneurs will be required to i) reserve the company name ii) prepare the articles of association and iii) submit the notarized documents to the authorities. Furthermore, the company will need to apply for work visas.
Our experts are RAK company formation specialists and will assist our Clients complete the engagement.
Why setup a company in RAK Free Zone?A RAK free zone company offers our Clients the following benefits: i) exemption from corporate tax and import/export taxes ii) exempt from UAE resident shareholder requirement and iii) exempt from hiring staff. Furthermore, RAK free zone has high quality infrastructure and competitively priced energy and utilities which will be beneficial to our Clients.