Company Formation
RAK Maritime City (RAKMC) provides a dedicated platform for maritime enterprises seeking to establish a presence within the United Arab Emirates. Recognizing the unique requirements of this sector, for maritime-focused businesses, company formation in the Ras Al Khaimah Free Zone is streamlined and specialized through RAK Maritime City (RAKMC). This facility offers a comprehensive range of administrative and logistical services, facilitating the establishment and operation of businesses engaged in shipping, logistics, and related maritime activities. We invite you to explore the services available at RAKMC and to consider the advantages of operating within this specialized free zone. Company formation in RAKMC is an excellent choice for businesses ready to leverage the region's growing opportunities.
Company formation in RAK Maritime City (RAKMC) comes with many perks. Here’s why it’s a great spot for businesses in the UAE:
Company formation in RAKMC supports various business structures tailored to different needs:
In the Ras Al Khaimah Maritime City (RAKMC), various types of licenses are available to accommodate different business activities. Key types include:
These licenses cater to a wide range of industries, allowing businesses to operate legally within the RAKMC jurisdiction.
The steps for company formation in RAK Maritime City (RAKMC) are straightforward and business-friendly:
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.
1. Choose a Bank: Research and select a bank that offers services tailored for businesses in the UAE, considering factors such as fees, services, and accessibility.
2. Gather Required Documents:
3. Visit the Bank: Schedule an appointment with the bank to discuss your requirements and submit your documents.
4. Complete Application Forms: Fill out the necessary application forms provided by the bank for opening a business account.
5. Initial Deposit: Some banks may require an initial deposit to activate the account.
6. Account Approval: Wait for the bank to process your application. This may take a few days to a few weeks.
7. Receive Account Details: Once approved, you will receive your account details, debit cards, and online banking access.
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, tax exemption, and 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 ensure everything goes as you wish. A firm like Reyson Badger can help you navigate the steps to form your company in RAKMC. You can simplify company formation services in RAKMC and focus on growing your business in one of the UAE's most promising free zones with Reyson Badger.
Can foreign investors fully own a business in RAKMC?
Yes, foreign investors can enjoy 100% ownership of their businesses in RAKMC, providing greater control and flexibility.
What types of maritime businesses are best suited for RAK Maritime City?
RAK Maritime City is designed to cater to a wide range of maritime-related activities, including:
How much does it cost to establish a company in RAK Maritime City, and what are the associated fees?
The cost of establishing a company in RAK Maritime City varies significantly depending on several factors, including:
Therefore it is very difficult to give a set number. It is best to contact RAKMC directly for a personalized quote. It is also important to consider that there will be ongoing fees, such as license renewal fees.
What are the visa requirements for investors and employees in RAK Maritime City?
RAK Maritime City facilitates the processing of visas for investors and employees. Visa requirements typically include:
Choose Reyson Badger for Fast and Expert Visa Services
What are the rules and regulations regarding ship repair and shipbuilding within RAK Maritime City?
RAK Maritime City has specific regulations in place to ensure the safety and environmental sustainability of ship repair and shipbuilding activities.
These regulations may cover:
It is important that any business involved in these activities, contact RAKMC directly to get all of the required information.
How does RAK Maritime City handle dispute resolution and legal matters?
RAK Maritime City operates within the legal framework of the United Arab Emirates.
Dispute resolution may involve:
The free zone authority will also have its own set of rules and regulations, that businesses operating inside of it must adhere to