Ras Al Khaimah company registration

DOING BUSINESS IN RAS AL KHAIMAH IN 2018

For over a decade, Healy Consultants Group PLC has been efficiently and effectively assisting our Clients with i) business registration ii) business licensing iii) RAK business banking solutions iv) accounting and tax strategies.

Ras Al Khaimah company registration summary

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  • Advantages of RAK company registration

    business registration in RAK

    1. RAK company registration is an excellent alternative to Dubai free zone company formation. RAK offers faster incorporation as well as a great range of office and warehousing facilities;
    2. If properly structured,a Ras Al Khaimah company is an ideal way to legitimately book international profits without paying local corporation tax. In addition, there are no capital gains or personal income taxes in RAK;
    3. 100% foreign ownership is permitted if the investor opts to set up a company in RAK Free Trade Zone. RAK Free Zone company is highly regulated and has a wide choice of office and warehouse facilities;
    4. A minimum of one shareholder and one director is required to comply with regulations of the RAK Free Zone Authority. There is no restriction on the maximum number of shareholders, and corporate shareholders are allowed. There is no register of shareholders or directors for RAK companies;
    5. Through an RAK offshore company, it is possible to have an entity and business address without the legal requirement to rent a physical office and employ staff;
    6. Through a branch company, investors can wholly own the entity and not be subject to an annual audit;
    7. RAK is strategically-located close to the Straits of Hormuz and only 40 minutes away from the center of Dubai. Its prime location provides access to over 2.2 billion consumers in the Middle East, Africa, and the rest of the world;
    8. Investors can take advantage of abundant supplies of competitively priced energy;
    9. Healy Consultants assists our Clients to obtain UAE residence and employment visas. For more information, kindly visit our migration and relocation services page;
    10. The UAE is perceived as the 21st least corrupt country in the world, according to the 2017 Corruption Perceptions Index by Transparency International, a global measure of corruption amongst public officials and politicians;
    11. Since the past few years, RAK has averaged an astounding 1.5-2% of economic growth;
    12. Discussions are ongoing with countries such as the US and Japan to create free trade agreements, potentially giving UAE firms, including those in RAK, free access to a markets numbering over 500 million people;
    13. Along with a safe political setting and a strong trading heritage due to its advantageous location at the mouth of the Arabian Gulf, RAK has massive logistical benefits. RAK is braced with 5 seaports and an international airport led by Saqr Port which is the prime bulk port in the Middle East;
    14. A Free Trade Zone company in RAK can wholly repatriate its capital and profits.
  • Disadvantages of RAK company registration

    1. A limited liability company (LLC) requires a minimum of 51% shareholding by UAE citizens;
    2. An offshore company cannot trade products or provide services within the UAE, and cannot rent local premises or open a corporate bank account in the UAE;
    3. Most entities are required to submit annual audited accounts to the government;
    4. Transportation is a major issue of concern within and outside RAK. There are no frequent public transport services in RAK, and the main means of transportation are taxis. Moreover, RAK is connected to other emirates by private taxis and infrequent public bus facilities.

Company registration

  • Time to incorporate: 8 weeks
  • Cost to set up: US$21,800
  • Minimum capital: US$40,850
  • Physical office required: Yes

Required appointments

  • Shareholders: 1
  • Directors: 1
  • Company secretary: No
  • Resident director: No

Key facts

  • Corporate tax rate: 0%
  • Corporate tax base: Territorial
  • Shelf companies: Unavailable
  • Main company type: Limited company

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Contact us

For additional information on our Ras Al Khaimah free zone company registration services in Ras Al Khaimah, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi