Business Setup with RAKIA in Four Simple Steps Located at the end of a 45 minute drive from Dubai, lies one of the hottest business destinations in the region. The flag-bearer of the Emirate of RasAl Khaimah (RAK), RAKIA came into existence in 2005 with the underlying intention of establishing the region as a successful hub for purposes of trade and commerce together with the finest industrial manufacturing units. The highly conducive business climate in RAKIA is underlined by the virtual absence all forms of taxation. In addition to the zero levels of Income Tax, Personal Tax as well as Corporate Taxes and VAT, there is minimal interference in the form of foreign exchange controls, trade barriers and quotas. Rakia Business investor s also enjoy benefits such as 100% foreign ownership in the free zones, full transfer of income and profits to the parent countries and labor laws that are among the most liberal in the region. With a single window approach to the issue of licenses, visas and permits, a business setup with RAKIA is extremely quick and easy. To form a company in RAK , simply follow these simple steps given below:
1. Settle upon the nature of the business entity that is to be established. One can choose between a Free Zone and a Non-Free Zone setup 2. Identifying the license category under which the business is to be setup. It can be a commercial or a trading establishment, consulting services or professional services, a general trading or industrial company; or it could be a Media firm either 3. Ideate upon the activities that the firm is going to be actively involved in. Give 3 Naming options for the company and develop the company structure. One must decide between the following: An Establishment, A Branch of a UAE or a Local Company (BLC), a Limited Liability Company (LLC) or the Branch of a Foreign Company (BFC) 4. Work out the rest of the minor yet important details: Capital Required, Staff Accommodation, Working Visa requirements, Name and Number of Shareholders that have a stake in the Company, etc.
Having worked out the above modalities, all that remains is to make an online application and choose from the friendly setup packages on offer to complete the formation process. Thatâ€™s it, mission accomplished!
RAK Investment Authority (RAKIA) is a Government entity operating in the emirate of RasAl khaimah, United Arab Emirates, If you want Business Setup in the Ras Al Khaimah or free industrial zone in rak. RAKIA provides free zones and non free zones industrial parks in Al Hamra (5.8 million square meters). They also have services like Rakia Strategic Business units, investment advisory services in rak and Rakia Offshore Business Facilities etc., Rakia has successfully attracted over US$ 3.5 Billion in investments and is home to nearly 5000 companies from diverse sectors of activity. For more info pleaseSign Up Rakia