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  • COMPANIES IN RAS AL KHAIMAH

     

    Freezone Company Formation in Ras Al Khaimah

    Free Zone Company Formation in Ras Al Khaimah

    Privacy Management Group, a certified English- and German-speaking partner of RAKEZ (Ras Al Khaimah Economic Zone) Government of Ras Al Khaimah, offers a complete formation package – including licence, office premises and a visa option - for free zone company formation in the emirate of Ras Al Khaimah. With our two advice centres in the UAE, you are guaranteed to receive a professional service on location.

    Detailed Information on Freezone Companies in RAK

    This page contains an overview of information about the location of Ras Al Khaimah (RAK). Alongside information about the potential uses and structure of a free zone company in RAK, you’ll also find a detailed list of advantages and useful information on the jurisdiction of RAK itself.

    In case of questions, please don’t hesitate to (contact us) at any time..


    The United Arab Emirates (U.A.E.) consists of a total of seven emirates. The emirates of Dubai and Abu Dhabi have become well-known through tourism in the last 20 years, while the emirates of Ras Al Khaimah and Ajman have earned a reputation as outstanding free zone locations for international companies. Ras Al Khaimah, often abbreviated to “RAK”, is distinguished by its strong economic climate and offers full tax exemption to companies within the free zone (free trade zone). Standard & Poor‘s Rating (2012): A/AA-1.

    Advantages of a Free Zone Company Formation in Ras Al Khaimah (Free Zone):

    The free zone of Ras Al Khaimah (RAK) offers an exceptionally favourable environment for potential investors and international companies. An excellent infrastructure, proximity to the Gulf region and global markets, professional expertise and personal service make the RAK Free Trade Zone an ideal business location, especially for small and medium-sized enterprises.

    An overview of some advantages of free zone companies in Ras Al Khaimah (UAE):

    • 100% exemption from corporate tax;
    • No personal income tax, if residence visa has been obtained;
    • No foreign exchange controls;
    • Up to 100% repatriation of capital and profits permitted;
    • Strong valuation growth and fully convertible currency;
    • A very low rate of inflation;
    • No local business tax or similar duties.
    • A free zone company in RAK can be 100% foreign-owned;
    • There are no trade barriers or quotas;
    • RAKEZ offers a straightforward licensing process;
    • Uncomplicated guidelines for import and export;
    • Very liberal labour laws;
    • Very few limitations on the employment of foreigners.
    • The chance for shareholders and their families to obtain a residence visa;
    • There is an “open door policy”;
    • Wide scope for special licences;
    • An optimal road network and modern drainage and sewage disposal systems;
    • Electricity, water and gas available at the lowest prices;
    • Modern telephone and high speed internet connections;
    • Excellent local and international banks;
    • Proximity to the entire Gulf region and to global markets;
    • Affordable apartments, houses, hotels, sport and leisure facilities.

    The UAE has double taxation agreements with a number of countries worldwide. RAK free zone companies are considered to be standard companies and can therefore conduct business internationally without limitations. DTAs exist with the following countries:

    Austria
    Belarus
    Belgium
    Canada
    China
    Czech Republic
    Egypt
    Finland
    France
    Germany
    India
    Indonesia
    Italy
    Lebanon
    Malaysia
    Malta
    Morocco
    New Zealand
    Pakistan
    Poland
    Romania
    Singapore
    Sudan
    Thailand
    Tunisia
    Turkey
    Ukraine

    STRUCTURE OF FREE ZONE COMPANIES IN RAK

    Freezone companies in RAK are particularly well-suited for the following sectors: industry, general trade, import and export, service provision and media.

    FZ-LLC (at least 2 shareholders required); FZE (at least one shareholder required), branch (office of a pre-existing company).
    Will be requested for you individually and requires the approval of RAKEZ.
    Limited
    Office premises are required. Depending on your desired size of office in the Free Zone of Ras Al Khaimah, you can expect to pay approximately USD 195.00 per month in rent.
    Wages lie far below the European level. However, a part-time administrative employee will expect to earn a monthly wage of at least USD 180.00.
    Industrial, import and export, general trade, business (commercial), consulting, services and media.
    At least one natural or legal person of any nationality
    At least one natural person of any nationality
    Natural person required
    Approx. 14 working days plus the processing time required by the RAKEZ authority.
    No corporate taxation (if residency has been obtained, no taxation of personal income).
    There is a legal obligation to keep records. In addition, receipts must be retained for seven years. If so desired, Privacy Management Group can, in consultation with you, provide a comprehensive service to manage these obligations on your behalf. You may also choose to carry out this mandatory record-keeping yourself. Should you have any questions, we would be happy to advise you.

    AWARDS AND ACCOLADES FOR THE FREE TRADE ZONE RAS AL KHAIMAH

    In recent years, the Ras Al Khaimah Free Trade Zone (“RAK FTZ” for short) has continued to receive numerous awards and prizes. In the “FDi Magazine” rankings for 2011-2012, RAK FTZ took fourth place out of 115 free trade zones in the region for the category “Best Free Trade Zone of the Future in the Middle East”, as well as third place in the category as “Best Economic Potential in the Middle East”.

    At the World Free Zone Convention in 2010, RAK FTZ won the Middle East Logistics Award (MELA award) row for “Best Up-And-Coming Free Trade Zone” for the third time in a row in addition to accolades for supply chains and transport as the “Industrial Region of the Year”.

    The Free Trade Zone of Ras Al Khaimah offers business owners a number of specialised areas for the establishment of their RAK free zone company. There are industrial park areas, warehouses, lightweight halls, business towers and office spaces as well as commercial units and accommodation for workforce and managers.

    Rental costs and wages in RAK are well under 50% of those offered by its competitor Jebel Ali. A comparison with other leading UAE free trade zones can be viewed under “Free Zone Locations Compared”.

    Numbers and Facts – Emirate Ras Al Khaimah

    The emirate of Ras Al Khaimah, also known as “RAK”, is the seventh emirate and was the last to be accepted to the Federation of the United Arab Emirates (UAE) in 1972. The Arabic name “Ras Al Khaimah” translates literally as “top of the tent”. The emirate has its geographical location to thank for this name, since it lies at the northernmost tip of the UAE.

    The emirate RAK is only around 1,700 square kilometres in size. It constitutes just 2.2% of the entire area of the United Arab Emirates and has around 290,000 inhabitants.

    Yearly population growth is around 5 percent. Depending on the time of year, daytime temperatures vary between 25 and 42 degrees centigrade; in the summer months of June, July, August and September, a temperature of at least 35 degrees is usual. Even in the winter months of December, January and February, night-time temperatures rarely fall below 12 degrees. Daytime temperatures in the winter are usually over 25 degrees. The capital city, Ras Al Khaimah, shares its name with the emirate, although all seven emirates are actually named after their capital cities, not the other way around.

    The UAE’s largest metropolis, the emirate of Dubai, is located about 80 kilometres away and can be easily and quickly reached by car on the motorway.

    Ras Al Khaimah has a very large container harbour and an international IATA airport, making it one of the most attractive transshipment centres in the entire region.

    Alongside agriculture, the tourism industry, which is expanding continuously, has become a further important source of income for the emirate in recent years.

    As a travel destination, Ras Al Khaimah - with its white sandy beaches and cultural attractions - attracts increasing numbers of holidaymakers every year. Ras Al Khaimah currently has more than 25 hotels, ten of which ten are five-star luxury hotels such as the Waldorf Astoria Ras Al Khaimah. A further three are Nobel hotels from the Hilton group, and there are a number of picturesque beach resorts.

    Legal Notices

    Privacy Management GroupFZ-LLC regularly checks and updates the information on its websites. Despite all due diligence, it is possible that some facts have changed in the meantime. It is therefore not possible to assume liability or provide any guarantee as to the relevance, completeness or correctness of the information provided. The same applies for all other websites that are accessed through the hyperlinks provided. Privacy Management GroupFZ-LLC is not responsible for the content of websites that are accessed through these links. Furthermore, Privacy Management GroupFZ-LLC reserves the right to make changes or additions to the content provided. In addition to the content and structural copyright protection rights of Privacy Management GroupFZ-LLC websites, the reproduction of information or files, in particular the use of texts, extracts or images, is prohibited without the prior written consent of Privacy Management GroupFZ-LLC.

    None of the content on any of the Privacy Management GroupFZ-LLC web pages represents an individual recommendation nor is it to be understood as an invitation to trade, default or purchase. Privacy Management GroupFZ-LLC also explicitly points out that you should seek advice from experienced tax consultants and/or lawyers, in particular for any cross-border activities. In principle, any income generated domestically or internationally is subject to taxation. It is solely your responsibility to fulfil your domestic and/or international tax obligations appropriately. Privacy Management GroupFZ-LLC does not accept liability under any circumstance. Additionally, our General Terms & Conditions as well as our Data Protection Provisions and Legal Details apply.

    Asset Protection

    CFC-Management-Services

    The taxation of companies on an international level generally follows the principle of decision-making power. A company is thus taxable in the country where ‘Management & Control’ is exercised. In general, international authorities assume that ‘Management & Control’ of a company is exercised in the same country where the general manager/director resides.

    Therefore, if you live outside of Panama, it makes sense to have at least local managing directors/directors in Panama. The level of authority of these Nominee-Directors can be determined individually according to personal needs and legal requirements.

    In addition, in most cases at least one foreign business address or even a foreign business premise is required. For this, we offer appropriate packages, with which this can be verified.

    Note: It is of course also possible to hire local managing directors instead of using nominee directors, should you prefer to do so. We are happy to advise you on the one-off and running costs upon request!

    Annual fees are only due after the first 12 months

    The annual fees are not due for payment until 12 months after the formation of your company in Panama. In the following years the settlement of the annual fees follows a 12-month cycle.

    For example: You establish a company in Panama on 14.07.2019. The start-up fees already include all the costs for the first year, with the exception of costs for optional services. After 12 months, at the latest on 14.07.2020, the annual fees for your company in Panama are due for payment (plus any optional services). Subsequently, the payment date recurs every year on 14th July at the latest.

    Renewal of the management fee annually USD 740.00
    Registered agent annually USD 245.00
    Registered office annually USD 245.00
    Corporate franchise fees annually USD 300.00
    annually

    Annual fees are only due after the first 12 months

    The annual fees are not due for payment until 12 months after the formation of your company in the Seychelles. In the following years the settlement of the annual fees follows a 12-month cycle.

    For example: You establish a company in the Seychelles on 14.07.2019. The start-up fees already include all the costs for the first year, with the exception of costs for optional services. After 12 months, at the latest on 14.07.2020, the annual fees for your company in the Seychelles are due for payment (plus any optional services). Subsequently, the payment date recurs every year on 14th July at the latest.

    Renewal of the management fee annually USD 190.00
    Registered agent annually USD 210.00
    Registered office annually USD 210.00
    Corporate franchise fees annually USD 190.00
    annually

    CFC-Management-Services

    The taxation of companies on an international level generally follows the principle of decision-making power. A company is thus taxable in the country where ‘Management & Control’ is exercised. In general, international authorities assume that ‘Management & Control’ of a company is exercised in the same country where the general manager/director resides.

    Therefore, if you live outside of the Seychelles, it makes sense to have at least local managing directors/directors in the Seychelles. The level of authority of these Nominee-Directors can be determined individually according to personal needs and legal requirements.

    In addition, in most cases at least one foreign business address or even a foreign business premise is required. For this, we offer appropriate packages, with which this can be verified.

    Note: It is of course also possible to hire local managing directors instead of using nominee directors, should you prefer to do so. We are happy to advise you on the one-off and running costs upon request!

    CFC-Management-Services

    The taxation of companies on an international level generally follows the principle of ‘location of decision-making power’. A company is thus taxable in the country where ‘Management & Control’ is exercised. In general, international authorities assume that ‘Management & Control’ of a company is exercised in the same country where the general manager/director resides. .

    Should you intend not to take on the position of local manager/director, despite having an investor visa, we can provide you with the appropriate trustee-service that will manage this position for you – a nominee is a natural person residing in the UAE. Similarly, should you not wish to officially appear as a shareholder of your Freezone-company in RAK, even in this case we can satisfy your requirements through the use of an appropriate Nominee-company. Let’s talk about it, we are at your disposal!

    CFC-Management Packages

    The international CFC-Rules are of particular importance when a Panama company wants to, for example, send invoices to companies based abroad.

    Each country implements CFC-Rules on a national and individual basis and thus makes different demands on the substance and structure of a foreign company. For the benefit of your customers, business partners and contractors and with the aim of not losing them, for example through ‘denied business expenses’ in your country of residence, you should adapt your company to international standards. In regards to this we can support you with one of our management packages.

    CFC Management Packages

    The international CFC-Rules are of particular importance when a Seychelles company wants to, for example, send invoices to companies based abroad.

    Each country has implemented the CFC-Rules on a national and individual basis and thus makes different demands on the substance and structure of a foreign company. For the benefit of your customers, business partners and contractors and with the aim of not losing them, for example through "denied business expenses" in your country of residence, you should adapt your company to international standards. In regards to this we can support you with one of our management packages.