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Ras Al Khaimah Free Trade Zone (RAKFTZ)

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Ras Al Khaimah Free Trade Zone (RAKFTZ)

Welcome to Ras Al Khaimah Free Trade Zone (RAK FTZ), one of the leading business destinations in the United Arab Emirates. At Prodigy Corporate Services, we are dedicated to providing comprehensive business setup solutions within this thriving economic zone.

RAK FTZ offers a strategic location, state-of-the-art infrastructure, and numerous benefits to businesses looking to establish a presence in the UAE. As a reputable business setup company in Dubai, Prodigy Corporate Services is your trusted partner for navigating the complexities of RAK FTZ and ensuring a seamless setup process.

With our expertise and extensive knowledge of the local market, we assist entrepreneurs and companies in setting up their businesses in RAK FTZ efficiently and cost-effectively. Our team of professionals understands the unique requirements of various industries and guides clients through every step of the setup journey.

RAK FTZ provides a wide range of business activities, including manufacturing, trading, logistics, consulting, and more. As your business setup partner, Prodigy Corporate Services ensures that your company formation aligns with your specific industry and growth objectives. We handle the entire incorporation process, from company registration and licensing to visa processing and bank account setup.

When you choose Prodigy Corporate Services, you benefit from our personalized approach, attention to detail, and commitment to delivering exceptional results. We pride ourselves on building long-term partnerships with our clients, assisting them not only during the initial setup but also throughout their business journey.

Furthermore, our services extend beyond the establishment phase. We offer a comprehensive suite of corporate services, including accounting, bookkeeping, PRO services, and legal assistance. Our goal is to provide a holistic solution that supports the growth and success of your business in RAK FTZ.

Experience the advantages of Ras Al Khaimah Free Trade Zone with Prodigy Corporate Services by your side. Our expertise, professionalism, and dedication to client satisfaction set us apart as a preferred choice for businesses seeking reliable business setup services in Dubai, UAE.

Process to Register a company in Ras Al Khaimah Free Trade Zone (RAKFTZ)

The process of setting up a business in Ras Al Khaimah Free Trade Zone (RAK FTZ), UAE typically involves the following steps:

  1. Initial Consultation: Begin by consulting with a reputable business setup company like Prodigy Corporate Services. They will provide you with guidance on the available options and help you choose the most suitable business structure and license type for your needs.
  2. Business Activity Selection: Select the business activities you wish to engage in within RAK FTZ. The zone offers a wide range of activities across various sectors, including trading, manufacturing, consulting, logistics, and more. Ensure that your chosen activities align with the regulations and guidelines of RAK FTZ.
  3. Company Name Approval: Choose a unique name for your company and submit it for approval. The name should comply with the naming conventions specified by RAK FTZ authorities. Your business setup partner can assist you in this process and ensure that your desired name meets the required criteria.
  4. License Application: Prepare and submit the license application along with the necessary documents, such as passport copies of shareholders and directors, business plan, and lease agreement for office or warehouse space. Your business setup partner will guide you through the documentation requirements and help you complete the application accurately.
  5. Visa Processing: Once your company is registered and the license is issued, you can proceed with the visa application process. Depending on the number of visas required and the type of employment, such as investor visa or employee visa, the specific documentation and procedures may vary. Your business setup partner will assist you in preparing the necessary documents and guide you through the visa application process.
  6. Office Setup: Choose the appropriate office space within RAK FTZ as per your business requirements. The zone offers various options, including flexi-desks, executive offices, and warehouses. Coordinate with the RAK FTZ authorities and your business setup partner to finalize the office space and complete the necessary procedures for leasing or purchasing the property.
  7. Bank Account Opening: Open a corporate bank account in a reputable bank in the UAE. Compile the required documents, such as the company’s registration certificate, memorandum of association, and identification documents of authorized signatories. Your business setup partner can facilitate the bank account opening process and guide you through the specific requirements of different banks.
  8. Commence Operations: After completing all the necessary steps and obtaining the required approvals, you can officially start your business operations in RAK FTZ. Ensure that you comply with the local regulations, maintain proper accounting records, and fulfill any ongoing compliance requirements as per the guidelines of RAK FTZ.

It’s important to note that the specific process and requirements may vary based on the type of license, business activity, and other factors. It is advisable to seek professional assistance from a business setup company to navigate the process smoothly and ensure compliance with all relevant regulations and procedures.

Documents required to register a company in Ras Al Khaimah Free Trade Zone,UAE

 

To get started with the business setup process in Ras Al Khaimah Free Trade Zone (RAK FTZ), UAE, you will typically need the following documents:

  1. Passport Copies: Passport copies of all shareholders, directors, and shareholders’ representatives. The passport copies should be clear and valid.
  2. Visa Page Copies: Copies of the visa page for all shareholders, directors, and shareholders’ representatives. This is required to verify the residency status of individuals involved in the company.
  3. NOC (No Objection Certificate): If the shareholder or director is an existing UAE resident, a No Objection Certificate (NOC) from their current sponsor or employer may be required.
  4. Proof of Address: A proof of address is usually required for each shareholder, director, and shareholders’ representative. This can be in the form of a utility bill, bank statement, or any other official document that clearly shows the residential address.
  5. Business Plan: A comprehensive business plan outlining the objectives, activities, and financial projections of your proposed business within RAK FTZ.
  6. Company Name Options: Provide a list of three to five company name options in order of preference. RAK FTZ authorities will review and approve the company name based on their naming guidelines.
  7. Memorandum of Association (MOA): A Memorandum of Association (MOA) or similar document outlining the shareholding structure, distribution of shares, and key provisions governing the company’s operations.
  8. Lease Agreement: A lease agreement for the office or warehouse space within RAK FTZ where your business will be located. The lease agreement should be in compliance with the requirements set by RAK FTZ authorities.
  9. Bank Reference Letter: A bank reference letter from the shareholders’ or directors’ bank stating their account status, account opening date, and account balance.
  10. CV/Resume: A CV or resume for each shareholder, director, and shareholders’ representative, highlighting their educational and professional background.
  11. Company Profile: A brief company profile detailing the nature of the business, previous experience, and any existing business operations.

It’s important to note that additional documents or specific requirements may vary depending on the type of license, business activity, and individual circumstances. Working with a reliable business setup company like Prodigy Corporate Services can help ensure that you have a clear understanding of the required documentation and can assist you throughout the document preparation and submission process.

Benefits of registering a company in Ras Al Khaimah Free Trade Zone (RAKFTZ)

Ras Al Khaimah Free Trade Zone (RAK FTZ), UAE offers several benefits to businesses looking to establish their presence in the region. Here are some key advantages of setting up your business in RAK FTZ:

  1. Strategic Location: RAK FTZ is strategically located at the crossroads of Europe, Asia, and Africa, providing businesses with easy access to global markets. Its proximity to major shipping routes and well-connected transportation networks makes it an ideal location for import-export activities.
  2. 100% Foreign Ownership: RAK FTZ allows 100% foreign ownership, ena