Business Setup in RAK Maritime City Free Zone

RAK Maritime City Business Setup - Entrepreneurs looking to start logistics and maritime companies can consider RMC as a viable option for Business Setup. RAK Maritime City (RMC) was officially launched in 2008 by His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah. RAK Maritime City was established as a Free Zone by an Emiri Decree. RMC is conveniently located near the Saqr Port and RAK International Airport.

RMC was set up with an investment of AED 520 million and spread over an area of 8 million sq. m. The dedicated harbor in maritime city covers 820,000 sq. m. of water, and almost 5 km of new quay wall with private or exclusive use jetties. The harbor entrance approach depth is 9 m. and there is a depth of 7 m. available at all the new berths.

Over the years, RAK Maritime City has established its name as an ideally-located logistics gateway with unparalleled infrastructure and flexible business setup procedures. Investors have a choice of flexible and attractive company registration (business setup) options to choose from, depending upon the individual business requirements. RAK Maritime City assures easy and simple procedures and formalities for obtaining your business license.

You may be interested to know more about Free Zone Company Formation Procedures.

Types of License issued in RAK Maritime City

Commercial License
This license allows the holder to import, export, sell, distribute and store items specified on the license. Up to seven activities under a similar business activity group can be included in commercial license.

General Trading License
A General Trading License can be obtained under a Commercial License, which allows for more than seven product lines.

Industrial License
This license allows the holder to import raw materials for the purpose of manufacturing, processing and/or assembly of specified products. The finished products may be exported outside the UAE


Types of Legal Entities for Business Setup in RAK Maritime City

Investors wishing to setup a business in Ras Al Khaimah Maritime City can choose any one of the following four legal entities, depending upon the ownership preference and shareholding pattern of the proposed company:

Free Zone Establishment
This type of Company can be formed only by one shareholder, either an individual (natural person) or an artificial juridical person like a company can be shareholder.

Free Zone Company
This type of Company can be formed by a minimum of two shareholders and a maximum of five. The shareholders can be individuals (natural persons) or non-Individuals (companies) or a combination of individuals and non-individuals.

Local Branch
A domestic firm registered within the United Arab Emirates can setup a branch in RMC. The parent company should have existed for more than one year.

Foreign Branch
A firm registered outside the United Arab Emirates can setup a branch in RMC. The parent company should have existed for more than one year.

You may be interested to know more about
the basic requirements to setup a free zone company in Dubai and UAE

The following articles may also help you in your decision making:

List of Free Zones in Dubai and Other Emirates in UAE

Business Setup in Hamriyah 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 in RAK Maritime City (RMC) 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:
Emirates 24 X 7
RAK Maritime City

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