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Business Setup In RAK Investment Authority

RAK Investment Authority (RAKIA) is a leading business destination committed to providing a pro-business environment, regulatory stability and robust infrastructure in the emirate of RAK in the UAE. Comprised of two dedicated industrial parks, a combined area of 30-million square metres, RAKIA provides hassle-free business set-up, state-of-the-art facilities and economical solutions to help clients compete regionally and globally.

RAKIA presents a wide range of solutions and services, adhering to constantly meeting the requirements of its clients. Owing to the strategic advantages and investor-oriented policies, RAKIA is home to over 500 manufacturers and thousands of SMEs. These advantages include:

WHY RAKIA

  • Choice of free zone or non-free zone
  • Low cost of business set-up and operations
  • Ease of doing business
  • 100% tax exemptions (no corporate or personal taxes)
  • 100% foreign ownership in free zone companies
  • 100% repatriation of capital and profits
  • 45-minute drive from Dubai
  • Easy access to strategic markets in the MENA Region
  • 31% of world's population in 4-hour flying radius
  • Proximity to express highways, seaports and airports

Business types

  • FREE ZONE COMPANY
  • NON-FREE ZONE COMPANY

Legal Entities

  • Establishment (e) for a non-free zone company
  • Limited liability company (LLC)
  • Free zone establishment (FZE)
  • Free zone llc (FZ LLC)
  • Branch of a local or foreign company

Licence types

  • Consultancy / service
  • Trading / general trading
  • Commercial
  • Industrial
  • Media

Facilities

  • Flexi facilities
  • Cubicle offices
  • Standard offices
  • Executive offices
  • Warehouses
  • Industrial land

Business centre services

  • Conference room facility
  • High speed internet access
  • Administrative assistance
  • Call handling services
  • fax handling services
  • Mail forwarding services
  • Business lounge for networking and executive meetings

Virtual office services

This is the ideal cost effective solution to grow your business the smart way; it’s designed for new businesses looking to establish a professional presence in a new city with a flexible lease agreement. RAKIA provides a variety of custom packages to meet any budget and business need, namely:

Coral

  • Professional business address
  • Common P.O box number
  • Management of mail and courier
  • Incoming mail notification via email

Pearl

  • Dedicated business telephone number
  • Personalized call answering
  • Calls forwarding
  • Incoming calls notification via email
  • Company voice mail
  • Common fax number (incoming) & fax handling

Diamond

  • All Coral and Pearl benefits
  • Workstation usage
  • Provision up to 2 email accounts
  • Incoming calls notification via email
  • Incoming calls notification via email
  • Company voice mail
  • 1 hour inclusive access to business lounge per month

All contents above mentioned was copied from its original source http://rakia.ae

Documents Required for RAK Investment Authority Company Formation

  • Proof of tradename reservation (Our Firm task)
  • Proof of initial approval for the activities (Our Firm task)
  • Passport Copies for the shareholders
  • Passport copy and C.V. (Resume) for the Manager
  • Personal Information sheet for each shareholder & manager (Template will be forwarded by Our Firm)
  • Lease agreement (Documents) – Having a physical address for your business/office is Mandatory in the UAE. The rent in average within the free zone area is US$ 25 up to US$ 45 Per sq. ft. (US$ 225 up to US$ 400 per sq. m.). Our Firm, can assist you while searching for your Physical address. To Learn More about Leasing & Rental Cost (This item will be required only after we obtain the initial approval from the authority)
  • Notarized and attested Power of Attorney appointing Our Firm as your legal representative, So that we can act on your behalf and/or on behalf of the shareholders.(Template will be forwarded by Our Firm).
  • There are some activities which might require third party / authority pre approval - accordingly additional Cost and professional fees might be applicable.
  • Also during the process, it might be a requirement for a few other documents by the authorities

Additional Documents required for a corporate shareholder and Branch

  • Attested and notarized Memorandum of Association / Article of Association. It must be attested from the UAE Embassy at the place of origin.
  • Board resolution to be resolute by the board of directors for your existing company/ entity at place of origin expressing intent of establishing a new setup abroad. Must be attested and notarized by the U.A.E Embassy.(Template will be forwarded by Our Firm)
  • Certificate of registration (if applicable) for your existing company/ entity, license or certificate Of incorporation your existing company/ entity attested and notarized by the U.A.E Embassy.

Setup in UAE-RAK Investment Authority
Table of estimated government cost & professional fees
Trade License option / activity Cost in US$ Cost in AED
Industrial License US$ 2,260 AED 8,250
Commercial License
Specific Trading US$ 2,260 AED 8,250
Oil & Gas US$ 3,015 AED 11,000
Real Estate US$ 4,520 AED 16,500
Aviation US$ 4,520 AED 16,500
General Trading License US$ 4,520 AED 16,500
Service License
Specific Services US$ 2,260 AED 8,250
Oil & Gas US$ 3,015 AED 11,000
Freight Forwarding US$ 2,560 AED 9,350
Real Estate US$ 4,520 AED 16,500
Aviation US$ 4,520 AED 16,500
Our Firm Professional Fees US$ 5,000 AED 18,365
 
ATTENTION - NOTE
The exact government cost will be determined by the concerned authority at the time of applying. There might be additional requirement during the process.
Our Professional fees covers consultation sessions, drafting of legal documents in English and Arabic, introducing reliable local citizen service-agent when required, supporting indocuments Notarization from the local notary public, assisting in bank account opening,and applying to the Concern authorities on your behalf.
 

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