Advantages and steps of establishing a company in Ras Al Khaimah Free Zone

Advantages and steps of establishing a company in the Ras Al Khaimah Free Zone: A great gain for every investor, as Ras Al Khaimah is located at the northern tip of the Emirates with the mountainous borders of the Sultanate of Oman and is located between the Arabian Gulf in the west and the Hajar Mountains in the east, and it is also 45 minutes away from the city of Dubai .

The Ras Al Khaimah Free Zone is an ideal destination for investment and starting a business, as it offers a supportive environment and tremendous opportunities for growth and development, but before starting, many investors ask an important question: What are the advantages and steps of establishing your own company in the Ras Al Khaimah Free Zone?
In this article, we will provide you with a detailed explanation of the advantages and steps of establishing a company in the Ras Al Khaimah Free Zone, taking into account the rules of SEO, and we will provide you with tips to ensure that the process runs smoothly. It is characterized by flexibility of procedures for establishing a company in the Ras Al Khaimah Free Zone, great facilities for investors, and a complete tax exemption. The freedom to fully own the founding company, in addition to a large number of advantages that we will discuss in the following lines.

Advantages and steps of establishing a company in Ras Al Khaimah Free Zone

Steps to establish companies in the Ras Al Khaimah Free Zone: It is considered one of the easiest steps to establish a company and easier than establishing a company in Dubai itself due to the advantages that the free zone enjoys.

The company is registered as a free zone establishment or a company belonging to the free zone. The parent company can be outside the Emirates and is not required to be inside the Emirates. The following are the steps for establishing a company in the Ras Al Khaimah Free Zone:

1. Choose the type of business activity

Ensure that the activity complies with the laws and regulations of Ras Al Khaimah Free Zone.
You can view the list of permitted activities on the Ras Al Khaimah Department of Economic Development website.

2. Choose the legal form

Compare different corporate legal forms and choose the one that best suits your needs.
The most important legal forms are:
a limited liability company
, a public joint stock company,
a branch of a foreign company

3. Submit an application to establish a company in the Ras Al Khaimah Free Zone

Submit an application for incorporation to the Department of Economic Development in Ras Al Khaimah.
You can submit the request online or through the customer service center.

4. Obtaining approvals

Obtain the necessary approvals from the relevant government authorities.
The competent authorities may differ depending on the type of business activity and the legal form of the company.

5. Payment of fees

Pay the registration and insurance fees.
Fees vary depending on the type of business activity and the legal form of the company.

6. Obtaining a commercial license

Obtain a commercial license from the Department of Economic Development in Ras Al Khaimah.
Make sure you meet all requirements for obtaining a business license.

7. Rent an office

Rent a suitable office in Ras Al Khaimah Free Zone.
The cost of renting an office varies depending on location and space.

8. Recruitment of employees

Hire the employees needed to run your company.
Make sure you meet all requirements for a work visa.

9. Open a bank account

Open a bank account in your company’s name.
Make sure you meet all requirements for opening a corporate bank account.

10. Start doing business

After completing all the steps, you can start doing business in Ras Al Khaimah Free Zone.

Advantages of establishing a company in the free zone 

Tax exemptions 

Ras Al Khaimah Free Zone offers many tax exemptions that encourage investment and starting businesses, including:

100% tax exemption on corporate profits:

No taxes are imposed on the profits of companies registered in the Ras Al Khaimah Free Zone.
Profits can be repatriated abroad without any restrictions.
100% tax exemption on import and export duties:

No customs duties are imposed on goods imported and exported to and from the free zone.
Businesses can take advantage of these exemptions to reduce operating costs.
100% tax exemption on VAT:

VAT is not charged on goods and services provided in the free zone.
Businesses can take advantage of this exemption to lower prices and improve competitiveness.
Other tax breaks:

Exemption from income tax for natural persons.
Exemption from real estate tax.
Exemption from capital gains tax.

Conditions for obtaining tax exemptions:

• The company must be registered in Ras Al Khaimah Free Zone.
• The company must conduct a permitted business activity in the free zone.
• The company must comply with the laws and regulations in the free zone.

Full foreign ownership of the company

The Ras Al Khaimah Free Zone offers an important advantage to foreign investors, which is the possibility of owning 100% of the company’s capital. This means that there are no restrictions on foreign ownership of companies in the free zone. Foreign investors can establish and manage their companies without the need for a local partner.
Complete control over the company:
Foreign investors can make decisions regarding the company without needing the approval of a local partner.
Ease of establishing a business:
There is no need to search for a local partner, which facilitates and speeds up the process of establishing a company.
Attracting global talent:
The ability to hire the best talent from all over the world without restrictions.
International expansion:
Ease of expanding the company’s business to other global markets.
Conditions for obtaining full foreign ownership:

• The company must be registered in Ras Al Khaimah Free Zone.
• The company must conduct a permitted business activity in the free zone.
• The company must comply with the laws and regulations in the free zone.

Low establishment cost

The Ras Al Khaimah Free Zone offers a low establishment cost for companies, making it an ideal destination for investors looking to start their business without a large financial burden. The cost of establishing companies in the Ras Al Khaimah Free Zone includes:
Registration fees: Registration fees vary depending on the type of business activity and the legal form of the company.
Insurance fees: A nominal insurance fee to cover risks.
Other fees: office rental fees, fees for obtaining a business license, other services fees.

Integrated support services when establishing a company in the free zone

Ras Al Khaimah Free Zone offers a wide range of integrated services to support companies and businesses at all stages of their establishment and growth. Integrated support services include:

Business establishment services: assistance in choosing the business activity and the appropriate legal form, submitting registration applications and obtaining approvals, obtaining a commercial license, office rental services.
Legal and financial services: specialized legal and financial advice, assistance in opening bank accounts, accounting and auditing services.
Marketing services: assistance in developing effective marketing plans, website design and development, advertising and promotional campaigns.
Logistics services: storage and distribution of goods, shipping and transportation of goods, insurance services.
Other services: information and communications technology services, employee insurance services, training and development services.

In addition to many other advantages, such as:
ease of establishing companies in the Ras Al Khaimah Free Zone: quick and easy procedures for establishing companies, the possibility of establishing a company via the Internet, no need for prior approval from government agencies.
Advanced infrastructure: modern ports, roads and airports, equipped warehouses and office spaces, advanced ICT services.
Multicultural Workforce: Provides a skilled workforce from all over the world, a safe and stable work environment, and easy access to work visas.
Strategic location: Location at the crossroads between East and West, easy access to international markets, and proximity to Dubai International Airport.
Supportive business environment: A business-friendly government, flexible laws and regulations, incentives and facilities for investors, business events and conferences.
Easy access to government services: a unified electronic portal for registration and licensing services, a customer service center to provide assistance and support.

Experts in establishing a company in the free zone 

We, in our company Itqan Company, have a group of experts to help investors and businessmen establish companies in the Ras Al Khaimah Free Zone:

• We help establish and equip companies.
• Providing fully furnished offices for rent.
• Dealing with government agencies and paying fees.
• Clear all papers and documents.
• Registration of commercial licenses.

Benefits of establishing companies in the Ras Al Khaimah Free Zone

The Ras Al Khaimah Free Zone is considered a major attraction for investors and entrepreneurs to establish a company in the Ras Al Khaimah Free Zone. In addition to the advantages mentioned above, here are some additional benefits of establishing companies in the Ras Al Khaimah Free Zone:

• Full corporate and personal income tax exemption.
• The full right to dispose of the profits and capital of the company.
• The right to own the company 100%.
• Access to global markets, through a strategic location and ease of exporting through Jebel Ali Port.
• Reducing the cost of doing business, such as tax and fee exemptions, and advanced infrastructure.
• Attracting global talent, due to a multicultural workforce and easy access to work visas.
• Accelerating the start of a business, through quick procedures and ease of obtaining a commercial license.
• Creating a safe and stable work environment by spreading security, stability and a unique lifestyle.
• Tax exemption on imports.
• Small fees for facilities.
• Flexibility of necessary procedures.
• Providing offices for rent.
• Flexible and easy-to-implement laws and regulations.

Tips for establishing a company in Ras Al Khaimah in the free zone 

• Conduct a comprehensive feasibility study, with the aim of assessing the market and target audience and developing a business plan.
• Selection of a strong team, by recruiting talent from all over the world.
• Effective marketing of your products and services, by using various marketing channels to reach the target audience.
• Adhere to the laws and regulations in the Ras Al Khaimah Free Zone, as well as ensure that all laws and regulations related to doing business are followed.

With an emphasis on the importance of good planning and taking advantage of the above-mentioned tips to ensure that the process of establishing a company in the Ras Al Khaimah Free Zone goes smoothly and achieves success in the world of business. Contact us now to establish companies in the Ras Al Khaimah Free Zone in Dubai .