Incorporate/Register your Business with Bank Account in the UAE
Note: The United Arab Emirates (UAE), particularly Ras Al Khaimah (RAK), offers an attractive business environment for international companies seeking to expand their operations. RAK’s Free Trade Zone provides a streamlined and cost-effective framework for business incorporation, characterized by tax advantages, regulatory efficiency, and a strategic location for global trade. BVML offers expert services for incorporating and registering a company in RAK Free Zone, ensuring a smooth and efficient setup for businesses looking to establish a presence in this thriving economic hub.
Types of Business Entities in RAK Free Zone
In the RAK Free Zone, businesses can choose from several types of legal entities, including:
RAK Free Zone Company (FZC): A popular choice for businesses, allowing for multiple shareholders (up to 5) and providing a flexible corporate structure. FZCs are ideal for various business activities including trading, consultancy, and services.
RAK Free Zone Establishment (FZE): A single-shareholder entity, perfect for individual entrepreneurs or small businesses. FZEs offer limited liability protection and are suitable for a range of business activities.
RAK International Company (RAK IC): Designed for businesses with a larger scale or more complex structures. RAK ICs are used for international operations and offer flexible ownership and management options.
RAK Free Zone Branch Office: Allows foreign companies to establish a branch office in RAK. This entity can conduct the same activities as the parent company and is suitable for businesses looking to expand their existing operations.
Incorporation Process
Choose a Business Activity and Name: Select the business activity from the list of permitted activities and choose a unique company name that complies with RAK Free Zone regulations. BVML assists with name reservation and ensures the chosen name meets legal requirements.
Prepare Legal Documents: Draft and prepare necessary documents including the application form, business plan, passport copies of shareholders and directors, and the Memorandum and Articles of Association. BVML handles the preparation, review, and submission of these documents to the RAK Free Zone Authority.
Submit Incorporation Documents: File the required documents with the RAK Free Zone Authority for official registration. BVML manages the entire submission process, ensuring all documentation is complete and compliant with RAK Free Zone regulations.
Receive the License: Obtain the business license from the RAK Free Zone Authority. BVML facilitates the license issuance process, including the payment of licensing fees and the collection of the official license certificate.
Open a Bank Account: Establish a corporate bank account for the new company. BVML assists in selecting a suitable bank, completing the account application, and managing initial deposit requirements.
Arrange for Office Space: Secure a physical office space or virtual office service in the RAK Free Zone. BVML provides assistance in selecting and setting up office space that meets regulatory requirements.
Comply with Tax and Regulatory Requirements: Ensure the company adheres to RAK Free Zone tax regulations and regulatory obligations. BVML offers guidance on the UAE’s tax regime, which includes zero percent corporate income tax for Free Zone entities, and assists with ongoing compliance, including annual renewals.
Ongoing Administrative Support: After incorporation, BVML offers a full suite of administrative services including company secretarial support, annual report preparation, compliance monitoring, and corporate governance assistance.
Benefits of Incorporating in RAK Free Zone
Tax Advantages: The RAK Free Zone offers a tax-neutral environment with zero percent corporate income tax, no personal income tax, and no VAT on most business activities, providing significant cost benefits.
100% Foreign Ownership: Companies in the RAK Free Zone can be fully owned by foreign investors, without the need for a local partner.
Confidentiality: The RAK Free Zone provides high levels of privacy with minimal disclosure requirements for shareholders and directors.
Efficient Incorporation Process: The process for setting up a business in RAK Free Zone is streamlined and efficient, with quick registration times and minimal bureaucratic delays.
Strategic Location: RAK’s location offers excellent connectivity for global trade, with access to major shipping routes and proximity to key markets in the Middle East, Asia, and Africa.
BVML’s Expertise
BVML offers specialized services for RAK Free Zone company formation, providing a comprehensive range of solutions to ensure a successful and efficient incorporation process. Our team of experts delivers personalized support from initial setup through ongoing management, helping businesses navigate the RAK Free Zone’s regulatory environment and achieve their strategic objectives.
By choosing BVML, businesses benefit from our extensive experience and commitment to delivering high-quality services for a successful incorporation experience in the UAE.
INCORPORATE/REGISTER A BUSINESS WITH BANK ACCOUNT IN THE UAE
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