Ras Al Khaimah(RAK) is one of the seven UAE Emirates, which is situated in the northern end of the UAE. It shares the borders with the Sultanate of Oman and it is surrounded by the Hajar Mountains. Ras Al Khaimah is situated in the mid of the eastern nations like India, China, Iran, and Pakistan, and the Commonwealth of Independent States(CIS). Ras Al Khaimah has a prominent port and offshoring destinations in the northern Emirate. Being one of the most developed Emirates economies, Ras Al Khaimah has witnessed an influx of both local and foreign investors alike. Peninsula Business Solutions offer a range of services to make your company formation in RAK easy
Here are some of the reasons why you should set up a company in Ras Al Khaimah:
- It is a preferred destination for many investors for company formation due to the presence of many logistics hubs such as seaports, international airports, and multi-lane superhighways.
- State of the art infrastructures, a thriving economy, liberal government policies, and cordial trade relations with other countries are some of the core factors that position RAK as an ideal destination for the company formation in UAE.
- RAK has got a number of DTA with multiple countries, which turns out to be a benefit for business owners to transit business.
- There is more flexibility to the investors because of multiple free zones and also provides them with a well-established tax-free ground for company establishment.
- Ras Al Khaimah comes with an added advantage of asset protection
- RAK provides the flexibility of carrying out the business import-export activities at free of cost, and thus decreases the tax burden.
- RAK grabs the attention of worldwide investors by setting up a destination for trading, manufacturing, and storage.
- VAT has been implemented in the entire UAE region for certain products and services, investors in the RAK Emirates are not subject to paying income and corporate taxes.
Benefits of setting up a company in Ras Al Khaimah, Mainland
There are many benefits to setting up a Ras Al Khaimah mainland company such as more flexibility to do business in any part of the UAE with local and government authorities. Many entrepreneurs are attracted to this free zone with a low starting capital.
Key benefits when u set up a Dubai mainland company
- No requirements for minimum share capital and you get absolute privacy, confidentiality, and protection of assets and information.
- Freedom to do business anywhere in the UAE.
- Ras Al Khaimah will easily provide access to all large airports and seaports in the UAE.
- No foreign exchange controls, quotas or trade barriers.
- There are no restrictions on the citizenship or residency of directors or shareholders.
- Tax exemptions are also made for the companies which run within free zones.
- 100% of foreign ownership is allowed.
- The company established in this free zone doesn’t need to pay taxes during capital repatriation.
- Companies need not pay any taxes on the income earned here
- The success rate of the company is increased due to the tax-free system.
- 100% repatriation of capital and profits.
- Hassle-free and business-friendly legal framework and company laws that ensure the security of investment.
- Government-sponsored incentives for investors.
- RAK has got a low-cost warehouse because it must be composed of customizable structures for different business industries.
- You need not have a physical office space here, hence virtual office address can be easily managed
- Ras Al Khaimah’s mainland business setups are very companionable so that they are allowed to apply for many employee visas without any limit.
- You can get a residency visa quicker than usual in the free-zone.
- There will be a clear regulatory legal framework.
- No customs duties on import or export services.
- Due to the initiative taken by the government and free-zone establishment towards the business the community is back and it helped the local and international investors to take interest in the businesses of the UAE.
- This helped many entrepreneurs to come back with creative ideas to drive the business in the UAE.