Company Formation
RAK Maritime City is right in the center of Ras Al Khaimah. It’s a free zone made for businesses that want easy access to global markets.
This spot connects the Middle East, Africa, and Asia. RAKMC is known for maritime trade, logistics, and industries. Many companies choose it as their home base in the UAE. With modern facilities and an easy setup process, it’s a smart choice for businesses ready to take advantage of what the area offers.
Company formation in RAK Maritime City (RAKMC) comes with many perks. Here’s why it’s a great spot for businesses in the UAE:
There are several types of companies you can set up in RAKMC:
Here’s a simple look at the steps to start your company in RAKMC:
1. Pick a Company Name: Choose a unique name that fits RAKMC rules. Check that it’s available.
2. Submit Your Application: Get your application ready with a business plan and IDs of shareholders. Send it to RAKMC for approval.
3. Get Your Business License: After approval, you’ll need to get a business license from RAKMC. This might depend on what your business does.
4. Open a Bank Account: Once you have your license, set up a bank account in the UAE to handle your finances.
5. Get a Tax ID Number: Apply for a tax ID to follow local tax rules.
To start a company in RAK Maritime City (RAKMC), you need some important documents. Here’s what you’ll need:
1. Passport Copies: required to have clear copies of the passports for all shareholders and directors. This helps with ID checks.
2. Proof of Address: You'll need to show where shareholders and directors live. Documents like utility bills or bank statements will work.
3. Business Plan and Financial Projections: A solid business plan is a must. It should cover what your company wants to do, how it plans to operate, and the expected financial outlook.
4. Memorandum and Articles of Association: These are key documents. They explain how your company is structured and how it will run. They also outline the rights and duties of shareholders.
5. Power of Attorney: If needed, this document lets someone act for the company during the setup process. It makes dealing with the authorities easier.
Company formation in RAK Maritime City (RAKMC) comes with some great benefits. You get full foreign ownership and tax exemption, and full access to a prime location. However, the setup process can be a little bit difficult. It’s smart to get help from a professional to make sure everything goes as you wish. A firm like Reyson Badger can help you navigate the steps for forming your company in RAKMC. We'll guide you through the whole process and help you start a successful business in this free zone.