Company Formation in the Freezone of UAE (RAK)

Top 5 Advantages of Ras Al Khaimah (UAE)

1. Provides key-in-hand solutions for your business
2. No corporate nor withholding taxes
3. Advantageous location, 25 km from Dubai
4. One of the most modern and business-friendly jurisdiction
5. Possibility to apply for a residence visa for investors

Roadmap

How long does it take to register a Company in Ras Al Khaimah (UAE)?

It would be not fair to set your expectations in a way to assume for the incorporation to be finished within a day. In some jurisdictions it is extraordinary fast (for example in Estonia) in some slower. It all boils down to one thing: 'When are the necessary (basic) documents ready?' The process is counted from the moment on we have all the needed documents. Please consult with our consultants to understand what documents you need to kick-start the process.

• 2-5 working days
• Can be done remotely in around 1 week

What are the steps to register a company in Ras Al Khaimah (UAE)?

The registration process of a company in Company Formation in Japan with LegalBison is very simple:

NEEDS TO BE CHANGED FROM RESEARCH FILE

Taxes

How high are the corporate income tax in Ras Al Khaimah (UAE)?

• A company registered in the UAE is exempt of tax (except for activities of banking or relative to oil)
• Therefore, a company registered in the RAK Free Zone has no corporate taxation

What Double-tax treaties has UAE (RAK)?

Many countries have bilateral conventions to avoid double taxation and prevent fiscal evasion

Albania, Algeria, Andorra, Angola, Antigua and Barbuda, Argentina, Armenia, Austria, Azerbaijan, Bangladesh, Barbados, Belarus, Belgium, Benin, Bermuda, Bosnia and Herzegovina, Brazil, Brunei Darussalam, Bulgaria, Burundi, Cameroon, Canada, China, Colombia, Comoro Islands, Costa Rica, Croatia, Cyprus, Czech, Ecuador, Egypt, Equatorial Guinea, Estonia, Ethiopia, Fiji, Finland, France, Gambia, Georgia, Germany, Greece, Guinea, Holland, Hong Kong, Hungary, India, Indonesia, Iraq, Ireland, Italy, Japan, Jersey, Jordan, Kazakhstan, Kenya, Kingdom of Saudi Arabia, Korea, Kosovo, Kyrgyzstan, Latvia, Lebanon, Libya, Liechtenstein, Lithuania, Luxembourg, Macedonia, Magnolia, Malaysia, Maldives, Mali, Malta, Mauritania, Mauritius, Moldova, Montenegro, Morocco, Mozambique, New Zealand, Nigeria, Pakistan, Palestine, Panama, Paraguay, Philippine, Poland, Portugal, Romania, Russia (Only for companies owned by the government of the United Arab Emirates), Rwanda, Saint Kitts and Nevis, Senegal, Serbia, Seychelles, Singapore, Slovak, Slovenia, South Africa, Spain, Sri Lanka, Sudan, Switzerland, Syria, Tajikistan, Thailand, Tunisia, Turkey, Turkmenistan, Uganda, Ukraine, United Kingdom of Great Britain and Northern Ireland, United Mexican States, Uruguay, Uzbekistan, Venezuela, Vietnam, Yemen

Status: end of 2020

VAT number

Without VAT number

• Company will not be eligible to receive VAT refunds, which means everything bought is 5% more expensive
• Company will have no need to file monthly tax returns (prerequisite: no one receives a salary), which means low costs

With VAT number

• A business must register for VAT if its taxable supplies and imports exceed AED 375,000 (about 83,320 EUR) per annum
• It is optional for businesses whose supplies and imports exceed AED 187,500 (about 41,660 EUR) per annum

Decide first

1. Do you want to buy a ready-made company or start a new one?
2. Can you travel or do you want to do everything remotely?
3. What is the planned authorized share capital?

Documents to provide

• Passport copies (a scan) of all individuals above, also beneficiary owner if applicable
• A Power of Attorney (POA) from (all) partners/shareholders is needed (in case of a remote company registration)
• Certified company documents (in case at least one of the shareholders is going to be a foreign company)

Information we need to start

• 3 options of your desired name for the company and a company contact email address
• Names, addresses and emails of all shareholders and board members
• Short description of your companies’ activity

Remote incorporation

• The whole incorporation process can be conducted remotely. No travel necessary. Notarization of documents is necessary.
• The United Arab Emirates are not part of the Hague Convention of the Apostille

Accounting and auditing

• Audit is mandatory. An appointed auditor has to examine and report on any company failing to hold its books to the Registrar of companies
• Indeed, this means that accounting is compulsory. Though the company doesn't have to report it to the Registrar, the auditor has the duty to do it

Residential requirements

What are the residential requirements in UAE (RAK)?

• A registered office is required
• Directors and shareholders do not need to reside in the UAE
• The share capital of the company has to be deposit in a bank account opened in the UAE

LegalBison offers help with all of the above requirements. We assist and are local on ground. Speak now for free with one of our consultants to get your business started.

FAQs about Ras Al Khaimah (UAE)