Forming A Company in Ras Al Khaimah
- Incorporation time: 8 days
- Shelf companies: Yes
- Accounting: Yes
- Secretary: Yes
- Nominee Shareholder: Yes
- Nominee director: Yes
Presentation of Ras Al Khaïmah
Ras Al Khaimah (RAK) is the fourth largest Emirate in the United Arab Emirates, with 250,000 inhabitants. Located in the northeastern part of the country, Ras Al Khaimah is ideally located as it borders all of the other Emirates, except Abu Dhabi. Like Dubai, RAK would like to diversify its economy with new industrial and service sector activities, in order to prepare for the energy transition.
Encouraged by the Government, this diversification provides the Emirate with strong, stable growth. Growth stability makes it possible to attract more FDI, and to promote tourism by increasing the region’s reputation.
The RAK Free Trade Zone
With modern infrastructure, this unique area is divided into three investment parks, organised according to activity sector. There are currently more than 5,000 companies in this area, representing 106 different nationalities. This is one of the most dynamic free trade zones in the world, and ensures 100% ownership of the company for the investor.
The Business Park offers modern offices within a developed business district. The Industrial park is located on the coast, and was the birthplace of numerous heavy industries. Finally, the Technology park covers an area of 100 hectares in the southern part of the Emirate, and facilitates light industries. Administrative procedures are even more simplified within the FTZ than in the rest of the UAE.
Ras Al Khaimah Tax System
As in the rest of the UAE, RAK tax rates are very low and enable significant savings. Companies are not subject to tax, and employers are not required to pay any contributions in addition to employee salaries. Personal tax only applies to certain aspects, and remains very limited. There is no income tax, and RAK tax policy follows that of the UAE.