The Emirate of Ras Al Khaimah is one of the prominent destinations for establishing companies in the United Arab Emirates, thanks to the investment advantages and stimulating work environment it provides. Establishing a company in the Ras Al Khaimah Free Zone is an attractive option for investors and entrepreneurs looking for a flexible regulatory environment, advanced infrastructure, and low operating costs. From easy incorporation procedures to tax exemptions and reduced customs duties, Ras Al Khaimah Free Zone offers a wide range of facilities and services that help businesses grow and thrive. Through this article, we will review the most important steps and procedures required to establish a company in the free zone in Ras Al Khaimah, in addition to the benefits and advantages that can be obtained when making this smart investment decision.

Establishing a company in the free zone in Ras Al Khaimah

Ras Al Khaimah Free Zone

Ras Al Khaimah Free Zone is one of the most prominent economic zones in the United Arab Emirates, providing an ideal business environment for local and international investors. The free zone was established with the aim of promoting economic growth and diversifying sources of income by providing various investment incentives. These incentives include full tax exemptions, 100% foreign ownership, and easy transfer of profits and capital. The free zone also features advanced infrastructure, quick and simplified establishment procedures, and provides offices and warehouses equipped with the latest equipment. Thanks to its strategic location in Ras Al Khaimah, the free zone is a vital center for commercial and industrial activity, making it an attractive destination for companies from various sectors.

Establishing a company in the free zone in Ras Al Khaimah

The Ras Al Khaimah Free Zone provides comprehensive support to investors by providing many investment and economic benefits, including:

1. Tax exemptions for companies and individuals.
2. Low fees and costs.
3. Tax exemptions on imports.
4. Availability of offices and warehouses for rent.
5. Smooth application procedures.
6. Flexibility in issuing visas for workers

The main free zones in Ras Al Khaimah

Ras Al Khaimah is home to several major free zones that provide an ideal environment for investment and economic growth. The most prominent of these areas are as follows:

Ras Al Khaimah Investment Authority Free Zone

It was established in 2015 to support investment in the free zone. Thanks to the distinguished location between east and west and the strong and developed infrastructure, it makes the region an ideal place to establish a company in the free zone in Ras Al Khaimah.

Free zone in Ras Al Khaimah Maritime City

Established in 2001, the region is characterized by the necessary factors of international port facilities, a strong and advanced infrastructure, and the availability of the latest technological systems, which makes it suitable for establishing a company in the free zone in Ras Al Khaimah.

Ras Al Khaimah Media Free Zone

Established in 2006, the Dubai Media Free Zone operates at a lower cost. Like other free zones in Ras Al Khaimah, it is characterized by a strong, advanced infrastructure and low costs for establishing a company in the free zone in Ras Al Khaimah.

Ras Al Khaimah Economic Zone

 RAKEZ is located in the heart of Ras Al Khaimah. It is known for its diversity of investments and openness to global markets, making it the most suitable choice for establishing a company in the Ras Al Khaimah Free Zone.

The importance of establishing a company in the free zone in Ras Al Khaimah

Establishing a company in the Ras Al Khaimah Free Zone carries many benefits and importance that make it an attractive option for investors and entrepreneurs. Among the most important of these are:

• Tax exemptions: The Ras Al Khaimah Free Zone provides tax exemptions to companies and individuals, which contributes to reducing operational costs and increasing profitability.
• Full Business Ownership: Foreign investors are allowed to own 100% of their companies without the need for a local partner, providing them with full control of their business.
• Simple and fast procedures: The free zone is characterized by simple and fast establishment procedures, which enables investors to start their businesses in record time.
• Advanced infrastructure: The area provides an advanced infrastructure that includes offices and warehouses equipped with the latest equipment, which contributes to providing an ideal work environment.
• Strategic location: Ras Al Khaimah is located in a strategic location that provides easy access to local, regional and international markets, which enhances opportunities for expansion and growth.
• Flexibility in labor visas: The region provides flexibility in issuing visas to workers, which makes it easier for companies to attract appropriate talent.
• Strong government support: Companies in the free zone enjoy strong government support, which includes many facilities and integrated services that enhance the chances of success. These advantages make Ras Al Khaimah Free Zone a preferred destination for investors who want to achieve sustainable growth and high profits.

Documents required to establish a company in the free zone in Ras Al Khaimah

To establish a company in the Ras Al Khaimah Free Zone , a set of papers and documents are required to be submitted to ensure that the process runs smoothly and in accordance with legal requirements. Required paperwork usually includes:

• Establishment application form: Fill out the establishment application form for the free zone.
• Passport copies: Provide clear copies of the passports of all shareholders and directors of the company.
• Personal photos: Provide recent personal photos of all shareholders and directors.
• Business Plan: Preparing and submitting a detailed business plan that explains the nature of the business, goals and financial expectations.
• Local address: Provide a local address in Ras Al Khaimah (it can be the temporary address of the service office).
• Proof of Address: Provide proof of current address to shareholders and directors (such as a utility bill or lease).
• Powers of Attorney: Providing legal powers of attorney if there is someone representing the shareholders to sign documents on their behalf.
• Board of Directors Resolution: An official decision from the parent company’s board of directors (if the parent company exists) approving the establishment of a branch in the Ras Al Khaimah Free Zone.
• Contracts and licenses: Providing the necessary contracts and licenses according to the type of business activity (such as a professional or commercial license).
• Proof of financial ability: In some cases, proof of financial ability or bank statements proving the availability of the required capital may be required. You must ensure that all required documents and information are obtained and submitted correctly to avoid any delay in the company establishment process.

Conditions for establishing a company in the free zone in Ras Al Khaimah

Establishing a company in the Ras Al Khaimah Free Zone requires compliance with specific conditions and standards set by local authorities to ensure that the process runs smoothly and efficiently. Here are some basic conditions for establishing a company in the Ras Al Khaimah Free Zone:

• Choosing the type of company: Determine the type of company to be established, whether it is a limited liability company (LLC), a branch of a foreign company, or a representative office.
• Required capital: Adherence to the specific capital requirements for each type of company. Capital requirements may vary based on the business and company size.
• Company activity: Determine the commercial activity that the company will undertake, and ensure that it is in line with the activities permitted in the free zone.
• Workplace: Rent or purchase an office or warehouse in the free zone, and submit the rental or purchase contract as part of the required documents.
• Licenses and approvals: Obtaining the necessary licenses and approvals from the competent authorities in the free zone, which may include commercial and industrial licenses depending on the type of activity.
• Legal registration: Register the company with the competent authorities in the free zone, and submit all the documents required to obtain the commercial license.
• Compliance with laws and regulations: Compliance with all local laws and regulations that regulate the operation of companies in the free zone, including laws related to labor, employment and the environment.
• Insurance: It may be necessary to obtain some basic insurance, such as employee health insurance and accident and damage insurance.
• Local shareholding (if required): In some cases, laws may require a local shareholding (local partner) in the company. However, in free zones, full foreign ownership is usually permitted.
• Submit a business plan: Prepare and submit a detailed business plan that outlines business objectives, financial strategy, and business model.

In cooperation with specialized legal and financial advisors at Itqan Company, the company establishment process can be simplified and compliance with all legal conditions and requirements can be ensured.

The main free zones in Ras Al Khaimah

Our business is establishing a company in the free zone in Ras Al Khaimah

Itqan Company is a pioneer in the field of establishing companies in the free zones in Ras Al Khaimah, as we provide integrated services to help investors start their businesses with ease. We undertake all necessary procedures, starting with dealing with government agencies, paying fees, and obtaining commercial licenses. In addition, we provide offices and warehouses equipped with the latest equipment and furnishings appropriate to the nature of the activity. Do not hesitate to contact our team of experts, as we will provide you with full support in all steps to establish your company in Ras Al Khaimah.

In conclusion, establishing a company in the Ras Al Khaimah Free Zone represents an excellent investment opportunity for investors and entrepreneurs looking for a stimulating and flexible business environment. Thanks to the many advantages offered by the free zone, such as tax exemptions, full foreign ownership, simple procedures, and advanced infrastructure, companies can achieve sustainable growth and long-term business success. In addition, the emirate\’s strong government support and strategic location enhance the free zone\’s attractiveness as a leading economic centre. Therefore, taking the step of establishing a company in Ras Al Khaimah can be a good start to a successful and prosperous business journey.

Frequently asked questions about establishing a company in the free zone