Ras Al Khaimah mainland company

About Ras Al Khaimah Mainland Company Formation

Known for being the leading investment destination in the UAE. Ras Al Khaimah offers all the benefits of the larger emirates such as the best infrastructure, liberal economic policies and beneficial trade relations but with a relatively lower cost of operation making it a lucrative option for investors. The emirate has seen widespread economic development over the last few years and offers a wide variety of business activities to its investors. Forming a mainland company in Ras Al Khaimah provides investors with a broader access and wide range of business activities to choose from. Mainland companies can operate anywhere in the UAE and internationally making them a lucrative option. Being able to adapt and grow a business is what attracts investors towards mainland company formation.

Advantages of company formation in Ras Al Khaimah

  • No currency restrictions, mandatory annual auditing and no limit on the number of business activities
  • Low cost of operation and financial incentives that encourage foreign investment
  • Access – Mainland company set up gives you the freedom to operate anywhere in the UAE and internationally.
  • Opportunity to expand – Setting up a mainland company allows investors to grow their business in the future. Mainland companies can apply for unlimited visas and open new office locations.
  • Type of business activities – Mainland companies can conduct business throughout the UAE on a range of business licenses.
  • Tax exemption– Mainland companies are exempt from corporate and income tax.
  • Can take up lucrative government contracts and bid on government projects.

Types of licenses for Mainland company set up in Ras Al Khaimah

Commercial licenses – Covers all trading and market activities. Businesses involved in real estate, construction, retail, and transport require this type of license.

Industrial licenses – Required for conducting production and manufacturing activity.

Professional licenses – Required by businesses that provide a professional skills-based service.

Steps for Mainland company set up in Ras Al Khaimah

There are various steps involved in mainland company formation in Ras Al Khaimah such as navigating through government approvals, registration, and license requirements. LegalWorks can assist in each step to make the process easy and straightforward for business owners.

1. Choose a business activity.

There are many legal structures a mainland company set up in Ras Al Khaimah can take, such as LLC, sole proprietorship, civil company, and branch. We will assist you in choosing the company structure that is in line with your business activity.

2. Choose your company structure.

There are many legal structures a Mainland company set up in Ras Al Khaimah can take, such as LLC, sole proprietorship, civil company, and branch. We will assist you in choosing the company structure that is in line with your business activity.

3. Choosing a tradename

UAE has certain rules and restrictions regarding the trade name of a company. It is essential to check with the Department of Economic Development regarding the permitted trade names to prevent any unforeseen setbacks. A general list of rules regarding trade name are:

  • The name must not violate the public morals or the public order of the country
  • The name must be followed by the legal form of the company, for example (LLC)
  • The name should not have been previously registered
  • The name should be compatible with the type of activity and legal status
  • Trade name should not contain names with religious significance, or governing authority, or logos of any external bodies.

4. Obtain Initial Approval

Companies must obtain initial approval from the Department of Economic Development (DED). The initial approval is an important document that conveys that the UAE government has no objection in establishing the business. Foreign investors also need the approval of the General Directorate of Residency and Foreigners’ Affairs before they can get the initial approval.

Our team will assist you in the collection of the required documents for approval which include passport copy, No Objection Letter from your sponsor and a business plan.

5. Get external approvals

Many government institutions work in tandem with the Department of Economic Development to issue a business license. These include the Ministry of Interior, Ministry of Economy and Local health departments. Depending on the nature of the business activity approval from these institutions is also required.

6. Get your license

This is the final step in the incorporation process. Obtaining a license requires the submission of the license application documents and legal documents. These include

  • Initial approval receipt and all the previously submitted documents
  • Duly attested memorandum of association
  • Approvals from other government entities concerned
  • Shareholder details and passport copies

 

At LegalWorks, our experts will assist you in every stage of the business set-up process. This includes determining the type of license and business structure, regulations compliance, selection of the right Mainland company set up plan, acquiring your visas and leasing your office space. We will guide you from start to end in the incorporation process.

Cost of setting up a mainland company

Initial approval AED 100
Trade name approval  AED 620
Foreign trade name approval  AED 2000
License registration fee AED 600
commercial license  AED 10,000 and above
notarization of MOA  AED 1200
Establishment card fee AED 2053
visa  AED 4600 

 

Get in Touch