The United Arab Emirates has emerged as the most favored destination for doing business and over the past few decades, a number of international companies have set their bases in Dubai and Abu Dhabi. Since the massive influx of foreign business juggernauts in the two biggest states of the UAE, the space for new comers became limited. However, the new companies now have the option to establish their businesses in the United Arab Emirates in states like Ras-Al-Khaimah and Fujairah, which also have free zones on offer to the multinational as well as local companies. Read on to know more about RAK Free Zone company formation in an efficient manner.
The people with intentions to set up or establish their businesses in Ras-Al-Khaimah, it is important to know that you can form companies like limited liability company, branch and representative office of an international company, public and private shareholding company, join venture company, private joint stock company, a completely free zone company, and international business company.
Some of the most amazing features of setting up a foreign company in RAK free zones include:
- Zero-rated corporate income tax
- Zero-rated personal income tax
- All the foreign companies are allowed to enjoy absolute ownership of their businesses in the UAE.
- The local authorities have put into effect transparent regulations which make it easy to run your company in an efficient manner.
- Zero-rate Withholding Tax
- There is no restriction what-so-ever on profit and capital repatriation.
- You are allowed to hire staff from any nationality.
- Ras-Al-Khaimah is not that far away from Dubai, which makes it easier for the companies to use Dubai’s ports to access international markets.
- The foreign companies have access to some of the most top-notch and state-of-the-art communication facilities in the RAK Free Zone.
- The companies can also use the RAK airport and seaports to tap international markets with their products and services.
The foreign businesses have to make sure their physical presence in the RAK Free Zone. The local authorities make sure that the foreign company has a physical business facility or office in the free zone. They only issue the license after inspecting the office premises of the company in the RAK Free Trade Zone. However, the companies may cut down on their expenses by renting a flexi desk. Use crosslink.ae to find out tips and benefits of setting up a foreign company in the Ras-Al-Khaimah Free Trade Zone.