Business Setup in RAK Investment Authority (RAKIA)

RAK Investment Authority – an ideal destination for Business setup. RAK Investment Authority (RAKIA) established in 2005, is a fully fledged business and industrial destination in UAE and the Middle East region. The Business and Industrial Parks of RAKIA offers attractive free zone and non-free zone facilities to investors looking forward to start a business in UAE with low operating cost.  

RAKIA is comprised of two dedicated industrial parks with a combined area of 30 million sq. m. Ras Al Khaimah Investment Authority offers state of the art infrastructure facilities, economic office solutions and hassle-free business setup procedures. Owing to the investor friendly policies and business environment, more than five hundred manufacturing companies and thousands of SMEs have selected RAKIA free zone to setup their business.

Advantages of setting up a business in RAK Investment Authority

Investors have the option to start free zone or non-free zone company.

Comparatively low company formation costs

Low operating cost

Simple and easy procedures and documentation

100% corporate and personal income tax exemptions

100% foreign ownership in free zone companies

100% repatriation of capital and profits

Proximity to Dubai

Access to express highways, seaports and airports

Well connected with global markets

Legal forms permitted in RAKIA for setting up a business

Investors can setup either a completely new company or the branch of an existing company in RAKIA. Any of the following legal forms can be adopted for business setup in Ras Al Khaimah Investment Authority:

Non-Free Zone Company

A non-free zone company can be either an Establishment or a Limited Liability Company (LLC). An Establishment has only a single shareholder. An LLC has more than one shareholder. The shareholders can be individuals, companies or both.

Free Zone Company

A free zone company can be setup as an Establishment with a single shareholder. Two or more partners can setup a Free Zone LLC (FZ LLC). The shareholders in a FZ LLC may be individuals, companies or a combination of both.

Branch of an Existing Company

An already existing company which is registered with a competent licensing authority in UAE or in a Foreign Country can setup a branch in RAKIA.

Types of License issued in RAKIA

The type of license issued depends on the business activity carried out by an entity. RAKIA issues the following types of business license:

Consultancy or Service License - allows your company to carry out consultancy or other services.

Trading or General Trading License - allows licensee to import, export, distribute, or warehouse goods. You can select either a specific or a general trading license. Specific trading license permits the licensee to deal in items specified in the license. General trading license entitles the license holder to deal in a wide variety of items except prohibited or regulated items which requires special approval.

Industrial License - allows your company to engage in industrial activities like importing raw materials, as well as to manufacturing, processing, packaging, and exporting finished products.

Media License - allows to start a company to carry out media related activities.

Note:  Free Zone entities are licensed to operate only within the free zone territory. Free Zone entities can sell goods or products in UAE mainland (local market) only through an authorized distributor or agent. Free Zone licensee can offer service only within the free zone limit.

Facilities available in RAKIA for Business Setup

Flexi Desk – ideal for starting a company with limited budget. RAKIA’s flexi desk packages are cost-effective options for business professionals who require solutions on a time slot basis. The packages include shared workstations, private e-mail accounts, high speed internet connection, and a common fax number with fax handling services.

Cubicle Offices - these are unfurnished partitioned office spaces suitable for small companies, providing a more exclusive work environment.

Standard Offices – these are dedicated, formal offices in a semi-closed environment at competitive cost and flexible terms.

Executive Offices - the ideal business solution for companies looking for a permanent, cost-effective office space. RAKIA provides a wide range of office solutions to suit the company’s needs, with furnished office spaces having from 15 to 62 sq. m. area.

Warehouses – suitable for companies engaged in trading, warehousing, assembling, packaging and light manufacturing activities. Warehouses of different sizes are available in both free zone and non-free zone jurisdictions.

Industrial Land – plots of land on 25 years’ renewable lease for industrial purpose in RAKIA’s two Industrial Parks (Al Hamra and Al Ghail in RAK) are available. Plot size starts from 5000 sq. m.  Investors are permitted to construct warehouses, offices, and staff accommodation on leased land.

You may also be interested in the following related articles:

Business Setup in Ras Al Khaimah Free Trade Zone (RAK FTZ)

Business Setup in RAK Maritime City Free Zone

Mr. Baiju Masoodu is a Free Zone Business Setup Consultant. Our ‘corporate service firm’ can advise and assist you to set-up a business RAK Investment Authority and other Free Zones in Dubai and UAE. For a free consultation & cost estimate, call me on: +971 50 214 1476 or mail me at: baijumasoodu@gmail.com

Reference:
RAKIA

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