Being a global economic center, the United Arab Emirates attracts hundreds of thousands of businessmen from the EU and US. The UAE has more than 30 economic zones; however, establishing a company in any of them is not easy and requires assistance from professional advisors.
Seeking to start a business in the Emirates? Need advice on registering a company in the Emirates? Please consider contacting YB Case. Please keep in mind that our experts recommend choosing Ras Al Khaimah for starting a business in the UAE.
Located in the north of the UAE, Ras Al Khaimah provides entrepreneurs seeking to open a company in the UAE with easy access to African, Eurasian and Middle Eastern markets. Ras Al Khaimah ranks high in Fitch and S&P ratings, while its logistics centers provide easy connection with markets in Asia, Africa & Europe.
If your main goal is to register a business in the UAE, you should keep in mind the following advantages of this FZ:
- no fees for setting up a company in Ras Al Khaimah FZ;
- 100% foreign ownership;
- fast execution of all operations and processes;
- support from the local government;
- connection to main logistics nodes and multi-channel highways;
- repatriation of funds;
The main activities in Ras Al Khaimah include production, consulting and commerce. Due to legalization of companies' constituent documents, their owners are exempt from taxes. There are also some limitations: activities of financial and industrial institutions, medical centers, air transportation businesses, publishing centers, advertising agencies, education and agriculture companies, customs clearance and forwarding agencies, loading and unloading companies, telecommunications companies, insurance and legal advice companies and engineering businesses are subject to regulation.
Those seeking to register a company in RAK should keep in mind that it is divided into 4 special zones. Each of these zones has its own specialization, namely:
- a business park with a renting an office;
- an industrial park (a heavy industry);
- a technopark;
- an educational zone;
To open a company in RAK remotely or in person, you must:
- have an industrial, advertising or service license;
- remember that registration takes 10 days;
- remember that having a minimal authorized capital is optional.
Located near Dubai, Ras Al Khaimah has two technoparks. Those considering opening a company in RAK should keep in mind that:
- they must obtain a commercial, service or industrial license;
- registration takes from 7 to 10 days;
- the minimum registered capital is $27,397;
Entrepreneurs seeking to open a company in the UAE are eligible to get a 3-year residence visa. Additional requirements for the registration of a company in RAK include:
- having an accredited local agent, one shareholder and one director (who may be one person and not necessarily a resident of the Emirates).
- your company name must end with Ltd or Inc.
Looking for professional advice on establishing a company in a FEZ in the UAE? Considering registering a business in RAK? Need a consultation on opening an account with a UAE bank? Please, do not hesitate to contact YB Case.