Ras Al Khaimah Free Trade Zone shortly known as RAK ftz is no doubt an exemplary free zone which is home to a number of foreign-based companies. This free zone has been established by the foreign investors and the reason why they have chosen this free zone is its great advantages as well as its prime location which is near Dubai.
For company formation in Ras Al Khaimah Free Trade Zone, choose the best business consultants in RAK so that they may assist you throughout the path effectively.
Company formation in Ras Al Khaimah Free Trade Zone
setting up a business in Ras Al Khaimah is quite easy. Also, there are a number of advantages it comes with which makes the investors get attracted towards it even more. They love this free zone because they do not need a UAE resident for the company formation as a representative. This saves them from a lot of stress and struggle of choosing the right person.
For carrying out the company formation processes in Ras Al Khaimah Free Trade Zone, the setting up a business in Ras Al Khaimah representatives will only provide their identification documents along with the power of attorney from the agent’s side in order to complete the process of company incorporation in Ras Al Khaimah Free Trade Zone.
One of the most important as well as mandatory steps for any sort of company formation is getting the appropriate license for carrying out the business activities. The business representatives in RAK free trade zone helps in choosing the required license and then taking the permit for the respective license. The businessmen and investors can choose from any type of the licenses mentioned below including;
- Commercial license
- Industrial license
- Educational license
- E-Commerce license
- Single Service Consultancy license.
The investors must be very clear about the area they want to serve in. This will help them in choosing the most appropriate license for the company as per its requirement.
Benefits of setting up a business in Ras Al Khaimah Free Trade Zone
There are a number of benefits associated with RAK free trade zone business formation. Not just that there are tax leverages for the investors but a lot more. You name it, they have it. They make sure that they provide all sorts of facilities to the investors so that they may feel free to serve the community in the best possible manner. The government of UAE, as well as the free zone authorities, are working really hard to help the foreign investors establish their businesses in the UAE. This has increased their economy as well as opened great doors of opportunities for entrepreneurs who want to serve the world through creativity.
The businesses established in RAK free trade zone can have 100% foreign ownership which means that for setting up a business here, the businessmen wouldn’t have to hire a sponsor. More to it, a free zone entity in RAKftz can also enjoy access to service and sell in the local market through a local agent that does not needs to be a shareholder in the business.
No tax on profits
People who go for a business set up in RAK free trade zone will be free from the tax on income or the profits. This means that the company will be able to keep the whole profit it makes through its products and services.
No capital repatriation tax
The company does not need to pay any tax during the capital repatriation.
No profit repatriation tax
This is another huge benefit as the company will be free from the tax of profit repatriation.
This shows that in the RAK free trade zone, the businesses can enjoy tax-free systems which will surely increase their success rate.
In this free zone, the companies can get a residency visa at a faster pace as compared to other free zones in Dubai. Also, RAK ftz offers freedom to source labor.
Renting an office space is not at all a problem in this free zone because there are proper buildings that have been made for the business purposes in the RAK free trade zone which accommodate the people in a fine way. There are also great office and warehousing facilities which eliminate the stress of space for the investors.
Set up costs
The setup costs for business are really low in this free zone as compared to other emirates. This appeals the entrepreneurs more as they mostly have less capital to initiate their business activities.
This is not all. There are a number of other benefits associated with RAK free trade zone business formation. All you need is to carry out the proper processes for business formation in an accurate manner and then you are free to provide your services and products easily.
FAR Consulting Middle East.
For the best business set up and consultancy services, make FAR Consulting Middle East your only solution. They have all that you need for conducting proper business processes. They are experienced, professional and qualified enough to assist you with their services. So, do not delay anymore and bring FAR into help for your business set up in UAE.