How can I start a business in RAK Free Zone?
Here are the key steps to set up a business in a free zone.
- Determine the type of legal entity.
- Choose a trade name.
- Apply for a business licence.
- Choose an office space.
- Get pre-approvals, register your business and get your licence.
How do I close my RAK Free Zone company?
What is the process of terminating a freezone company?
- Step One: Signed Board or Shareholder Resolution.
- Step Two: Official Notification to the Freezone Authority.
- Step Three: NOC’s and Clearance.
- Step Four: Employees and Sponsorship.
- Step Five: Official Announcement.
- Step Six: Termination Confirmation.
How many companies are in Ras Al Khaimah Port Free Zone?
8,600 companies
Established in 2000, Ras Al Khaimah Free Trade Zone (RAK FTZ) is one of the fastest growing and most cost-effective free trade zones in the UAE and today is home to more than 8,600 companies.
How do I register a company in Ras Al Khaimah?
The steps for Ras Al Khaimah company formation are:
- Decide on the Business Activity.
- Determine the Legal Form of the Business.
- Finalize the Jurisdiction.
- Obtain Initial Approval.
- Register Your Trade Name.
- Apply and Submit.
- Obtain a Business License.
- Rent an Office Space.
What is designated zone in UAE?
A designated zone in the UAE is an area which is considered to be outside the UAE territory for VAT purposes. Supplies made from inside or outside a designated zone are free of VAT (with some exceptions).
Is it legal to sell online in UAE?
UAE government has been cracking down on illegal websites selling products. They shut down several online sites in 2018. Under the law, residents must secure a license to operate before selling anything. Failure to comply with this law will make any online business illegal and is tantamount to paying penalties.
How much is a Freezone license?
Free Zone License Licenses range from trading, services and industrial and can cost around AED 10,000 to AED 50,000 per anumm.