Advantages of establishing a company in the free zone in Ras Al Khaimah

Ras Al Khaimah Free Zone is considered one of the most important economic and commercial centers in the United Arab Emirates. This region provides an ideal environment for entrepreneurship and investment expansion, making it an ideal destination for establishing and growing companies. In this article, we will discuss the advantages of establishing a company in the Ras Al Khaimah Free Zone and the role of Itqan Company in providing the necessary support and services to emerging and medium-sized companies.

Establishing companies in Ras Al Khaimah Free Zone is considered an important strategic step for those wishing to explore business opportunities and expand the scope of their work. The region is characterized by advanced infrastructure and flexible laws that facilitate the establishment and service provision process. In this context, Itqan Company stands out as a key partner in helping entrepreneurs achieve their goals and achieve success in the local and regional business market.

Itqan Company offers a variety of services and solutions specifically designed to assist new and medium companies in all aspects of establishing and managing businesses. Through a team of experienced experts and consultants, Itqan Company provides legal and tax consultations, and assists in preparing the necessary legal documents to establish companies and obtain the necessary licenses and permits. The company also provides assistance in opening bank accounts and managing financial matters in an excellent manner.

In short, establishing companies in the Ras Al Khaimah Free Zone is an exciting opportunity for investment and growth, and Itqan Company provides full support and integrated services to help achieve success and prosperity in this dynamic and diverse market.

Advantages of establishing a company in the free zone in Ras Al Khaimah

Establishing a company in the Ras Al Khaimah Free Zone has many features and benefits that make it an ideal choice for investors and entrepreneurs. Here are some of the main advantages of establishing companies in this region:

1. Advanced Infrastructure:
   Ras Al Khaimah Free Zone provides advanced infrastructure that includes modern seaports, integrated logistics facilities, and efficient transportation networks, which facilitates import and export operations and efficient distribution of products.
2. Flexible business environment:
   The region provides a flexible and organized business environment that contributes to accelerating company establishment processes and providing the necessary facilities for investors.
3. Tax exemptions:
   The free zone provides attractive tax exemptions, including income taxes, capital taxes, and customs duties, which contributes to reducing operating costs and increasing profits.
4. Easy access to regional markets:
   Ras Al Khaimah is located in a central location on the geographical map of the GCC countries, providing easy access to regional markets and facilitating international trade.
5. Government facilities and financial support:
   The local government provides facilities and financial support to new companies through incentive initiatives and programs aimed at enhancing investment and stimulating innovation and economic growth.

Itqan Company plays an important role in supporting the establishment of companies in the Ras Al Khaimah Free Zone, as it provides legal and tax advice, helps in preparing legal documents and opening bank accounts, and provides the necessary financial and administrative support. It also contributes to companies’ marketing

Establishing a company in the free zone

Types of companies in Ras Al Khaimah

These are examples of the types of companies that can be established in Ras Al Khaimah, and the requirements for establishing each type vary according to the laws and legislation in force in the emirate. It is recommended to go to the competent authorities or seek the help of Itqan Company to obtain accurate and comprehensive information about each type of company and its establishment procedures.

Steps to establish a company in the free zone in Ras Al Khaimah

Establishing companies in the free zone requires following specific legal and administrative procedures, such as choosing the appropriate type of company, submitting the documents required for registration, and obtaining the necessary licenses. In addition, companies must comply with local and international laws, regulations and tax requirements.

1. Choosing the type of company:
   Before starting the establishment procedures, you must determine the type of company you want to establish, whether it is a sole proprietorship, a joint stock company, a limited liability company, or any other type that suits your business goals.
2. Determine the company name:
   You must choose an appropriate name for the company and ensure that it is available and not similar to the names of other companies registered in the region.
3. Preparing the necessary documents:
   After determining the type and name of the company, the necessary legal documents must be prepared, such as articles of incorporation and articles of association.
4. Submitting a registration application:
   The company registration application must be submitted to the competent authorities in the Ras Al Khaimah Free Zone, and the required documents must be submitted along with the prescribed fees.
5. Obtaining licenses and permits:
   After accepting the registration application, you will obtain the necessary licenses and permits to start working in the free zone.

Contact Itqan Company to obtain accurate information about the specific steps and legal requirements for establishing your company.

Expected fees for establishing a company in Ras Al Khaimah

The expected fees for setting up a company in Ras Al Khaimah , like elsewhere, depend on the type of company, its size and other factors. However, I can provide general information about the fees that may be included in setting up a company in Ras Al Khaimah, for example:

1. Company registration fees: These fees include company registration fees, document attestation fees, and transfer documentation fees.
2. Commercial license fees: You will need to obtain a commercial license from the competent authorities, and this process may require paying fees.
3. Insurance fees: You may need to purchase some types of insurance for the company, such as civil liability insurance or employee medical insurance, and you will have an annual fee for these services.
4. Real estate and office fees: If a company needs an office or commercial space, you will have fees to rent or to purchase real estate.
5. Labor and hiring fees: If you intend to hire employees, you will have salary costs, benefits, and insurance fees for them.

These are some of the common fees that may be associated with establishing a company in Ras Al Khaimah, but it is always preferable to consult Itqan before embarking on the incorporation process to obtain accurate and comprehensive details about the expected costs.

Your company in Ras Al Khaimah

Establishing a company without a local partner

In the UAE, a local partner is required for companies to register, and this includes Ras Al Khaimah. The local partner must be a UAE citizen, but the foreign company can obtain 100% of the profit share and control of the company.

1. Use of permanent agreements: A foreign company can enter into an agreement with a local partner who holds an Emirati passport, but this agreement must be permanent in nature and protect the interests of the foreign company.
2. Using Agent Companies: A foreign company can work with a local agency company to provide services and represent it in the local market.
3. Free zones: Foreign companies can establish branches in free zones in the Emirates, and this allows them to benefit from some facilities and tax exemptions.
4. Public joint stock companies: A foreign company can establish a public joint stock company with a local shareholding percentage of no less than 51%, but this depends on the type of business activity.

You should always consult with Itqan Company to obtain accurate and comprehensive advice on how to establish the company without a local partner.

Transferring your company to a free zone

Converting your company to a free zone in the United Arab Emirates can be a good step to take advantage of the tax and customs facilities and exemptions that these zones provide to companies. Here are general steps that can be followed to convert your company into a free zone:

1. Study options and free zones: Start by studying the free zones available in the Emirates, such as Ras Al Khaimah Free Zone or other free zones in the country. Compare the facilities and services offered by these areas to determine the best fit for your company.
2. Prepare documents: Prepare the necessary documents for the company transfer, such as agreements, legal and financial documents.
3. Submitting an application: Submit an application to transfer your company to the selected free zone, and follow the procedures and requirements determined by this zone.
4. Review and approval: Once the application is submitted, your company will undergo a comprehensive review by the competent authorities in the free zone, and after approval, the company will be transferred.
5. Moving and starting work: After transferring the company to the free zone, you can start working in the new environment and benefit from the facilities and exemptions available.

Do not forget that you must adhere to all local and international laws and regulations related to transferring companies and operating in free zones, and Itqan Company can provide assistance in this regard.

Our service in Ras Al Khaimah

Itqan Company offers a comprehensive range of services that help you establish your company in the free zone in Ras Al Khaimah. Here are some of the services provided by the company:

1. Business Consulting:
   Itqan Company provides specialized consultations in the areas of company establishment, management, legal and tax legislation. You can get advice and guidance on the necessary steps to establish your company successfully and effectively.
2. Preparing legal documents:
   Itqan Company prepares all the legal documents necessary to establish the company, such as the required contracts, agreements, and certificates, which facilitates the registration and appeal process for you.
3. Registration procedures:
   The company assists you in the registration procedures necessary to obtain the necessary licenses and permits to operate your company in the free zone in Ras Al Khaimah.
4. Opening a bank account:
   Itqan Company provides assistance in opening a bank account for your company, and provides the necessary support in managing the company’s financial and banking matters.
5. Business Administration:
   After establishing the company, you can rely on Itqan Company to manage daily business, such as accounts, salaries, and taxes, in order to focus on the development and growth of the company.

In short, Itqan Company provides integrated services that help you in all aspects of establishing and managing your company in the Ras Al Khaimah Free Zone, ensuring the success and prosperity of your business in this dynamic and prosperous economic environment.

Your company in Ras Al Khaimah

At the conclusion of this article, we can emphasize the importance of establishing companies in the Ras Al Khaimah Free Zone and the many benefits that result from this, in addition to the role of Itqan Company in providing the necessary support and services to emerging and medium-sized companies.

Among the features that make the Ras Al Khaimah Free Zone an ideal destination for establishing companies are the advanced infrastructure that facilitates import and export operations, easy access to regional markets, in addition to attractive tax exemptions and legislative facilities provided by the local government.

With Itqan Company, investors and entrepreneurs can benefit from its expertise and specialized services, as the company provides the necessary consultations in the fields of law, taxes, and management, in addition to helping companies prepare legal documents, open bank accounts, and manage financial matters efficiently.

By utilizing the services provided by Itqan Company and establishing the company in the Ras Al Khaimah Free Zone, entrepreneurs can achieve success and prosperity in a market characterized by dynamism and broad opportunities. Establishing companies in this region not only represents a fruitful investment, but is also a strategic step for growth and expansion in the business world.

Frequently asked questions about establishing a company in the Ras Al Khaimah Free Zone