RAK company formation
To open a company in Ras Al Khaimah, you must follow the following steps;
Steps to follow for RAK business set up
business activity determination
before starting your own company, you must define your business activities. The investor must have an idea about the type of business activity. This step is to be taken before starting the license issuance procedure. If the first step has not been carried out yet, the license will not be issued. There are different rules and regulations for different activities. So, the type of the activity you choose will make an impact on your license. There are proper conditions that need to be fulfilled for providing several services like the location and other stuff. This is because some of the locations are forbidden in some areas under some conditions. So, it is better to take care of such issues beforehand
legal category determination
the nature, as well as the type of business, will determine the legal status. In case of limited liability company(LLC), every business activity fits in it.
for this purpose, all of the investors are required to visit the workplace of General Directorate of Residency & Foreigners Affairs in the Department of Economic Development. This would be done in order to take the approval.
Trade name registration
An appropriate name is a huge need of the business. without a good name, a business cannot flourish. Before getting the certificate of the trade name, an initial approval can be taken as well. due to the initial approval, the investor of the company would be able to carry on with the procedures of license issuance and others.
Approvals of authorities
After taking the approvals, it is required by the investor to visit the office of concerned authorities for the sake of getting approvals. The authorities will be according to the business activities. Different business types require different authorities’ approvals but in some cases, only the approval of the Department of Economic Development is enough.
Business license issuance
After taking the approval from the concerned authorities, the step of receiving the business license arrives. In Ras Al Khaimah, there are different types of licenses including;
- Industrial License
- Commercial License
- Professional License
- Tourism License
For more details about business setup in Ras Al Khaimah Click here.
The Facilitation Services of Business Establishment:
The business companies get a huge support from the authorities in order to form the company in Ras Al Khaimah. The companies also get assistance for obtaining the licenses and getting different sorts of approvals for their company formation. Also, the investors get the advantage of express service as well but for that, they have to pay some additional fee.
There are a lot of facilities and opportunities for the people who are really into investing in different companies in Ras Al Khaimah. all they have to do is follow the above-mentioned steps which are really easy. If they do not get to understand the terms in a good manner, they can appoint consultants and legal service providers as well.
For RAK free zone company setup cost and details visit here.