Ras Al Khaimah Maritime City Free Zone (RAKMC)
Ras Al Khaimah Maritime City Free Zone (RAKMC)
Welcome to RAK Maritime City Free Zone (RAKMC), UAE – Empowering Businesses to Thrive!
At Prodigy Corporate Services, we take pride in introducing you to RAK Maritime City Free Zone (RAKMC), a premier business hub strategically located in the United Arab Emirates. RAKMC offers a wealth of opportunities for businesses looking to establish a strong presence in the region and take advantage of its numerous benefits.
Why Choose RAK Maritime City Free Zone?
- Strategic Location: Situated in the emirate of Ras Al Khaimah, RAK Maritime City Free Zone provides convenient access to key international markets. Its proximity to major ports and airports enables seamless connectivity, making it an ideal choice for import-export businesses.
- World-Class Infrastructure: RAKMC boasts state-of-the-art infrastructure, meticulously designed to meet the diverse needs of businesses across various industries. From modern office spaces to well-equipped warehouses and manufacturing facilities, the free zone offers a comprehensive range of facilities to support your operations.
- Business-Friendly Environment: RAKMC prides itself on its business-friendly policies, providing a supportive regulatory framework and a hassle-free setup process. With streamlined procedures and efficient services, entrepreneurs can establish their companies swiftly and focus on growth from day one.
- Industry Focus: RAK Maritime City Free Zone caters to a wide range of industries, including maritime, logistics, trading, manufacturing, and more. Regardless of your sector, RAKMC provides a nurturing environment for businesses to flourish and access regional and global markets.
- Proximity to Opportunities: By choosing RAKMC, you position your business at the heart of a thriving economic ecosystem. With easy access to markets in the Middle East, Africa, and beyond, you gain a competitive edge and open doors to new growth prospects.
At Prodigy Corporate Services, we specialise in assisting companies like yours to navigate the intricacies of establishing a presence in RAK Maritime City Free Zone. Our team of dedicated experts offers comprehensive business setup solutions tailored to your unique requirements. From company registration and licensing to visa processing and ongoing support services, we are committed to your success every step of the way.
Take the first step towards your business expansion in the RAK Maritime City Free Zone today. Contact Prodigy Corporate Services, your trusted partner in setting up and growing your enterprise. Let us handle the complexities while you focus on achieving your entrepreneurial dreams.
Advantages of RAK Maritime City Free Zone (RAKMC)
Here are some key advantages of setting up your business in RAK Maritime City Free Zone (RAKMC), UAE:
- Strategic Location: RAKMC is strategically located in the emirate of Ras Al Khaimah, providing easy access to major regional and international markets. Its proximity to key ports and airports allows for seamless connectivity and efficient logistics, facilitating import-export activities.
- 100% Foreign Ownership: RAKMC allows for 100% foreign ownership, providing entrepreneurs with full control and autonomy over their businesses. This flexibility encourages investment and attracts businesses from around the world.
- Tax Benefits: One of the major advantages of RAKMC is its tax-friendly environment. The free zone offers a zero percent corporate tax rate, providing businesses with a cost-effective platform for growth and maximising profits.
- Wide Range of Business Activities: RAKMC supports a diverse range of business activities across various sectors, including maritime, logistics, trading, manufacturing, and more. This allows businesses to explore new opportunities and expand their operations within a supportive environment.
- State-of-the-Art Infrastructure: RAKMC boasts modern and world-class infrastructure, including well-designed office spaces, warehouses, and manufacturing facilities. The advanced infrastructure supports businesses in achieving operational efficiency and enhancing productivity.
- Business-Friendly Regulations: RAKMC has established business-friendly regulations and procedures, streamlining the process of setting up and operating a business. The efficient and transparent regulatory framework reduces bureaucracy and provides ease of doing business.
- Supportive Services: RAKMC offers a comprehensive range of support services to facilitate the growth of businesses. These services include company registration, licensing, visa processing, legal support, and ongoing administrative assistance.
- Growing Economic Hub: Ras Al Khaimah, where RAKMC is located, has been experiencing significant economic growth and diversification. This growth opens up new opportunities for businesses to tap into a dynamic market and access a wide range of industries.
- Networking and Collaboration: RAKMC provides a vibrant business community where companies can network, collaborate, and explore synergies. Engaging with like-minded businesses and professionals can lead to valuable partnerships and business development opportunities.
By leveraging these advantages, businesses can establish a strong presence in RAK Maritime City Free Zone, capitalise on the opportunities in the region, and expand their global footprint.
What is the Process of registering a company in RAK Maritime City Free Zone (RAKMC)
Here’s an overview of the process to set up a business in RAK Maritime City Free Zone (RAKMC), UAE:
- Initial Consultation: The process begins with an initial consultation to understand your business requirements and objectives. At Prodigy Corporate Services, we will guide you through the entire process and provide you with the necessary information to make informed decisions.
- Business Activity Selection: You will need to determine the type of business activity you wish to undertake in RAKMC. The free zone offers a wide range of activities to choose from, including trading, manufacturing, logistics, and more.
- Company Name Reservation: Select a unique name for your company and submit it for reservation with RAKMC. It is essential to ensure that the proposed name aligns with the guidelines provided by the free zone authority.
- Application Submission: Prepare the necessary documentation, including your business plan, passport copies of shareholders and directors, and the completed application form. Submit these documents along with the relevant fees to RAKMC for review.
- Licence Issuance: Upon approval of your application, you will receive the required licence to operate your business in RAKMC. The licence will specify the permitted activities and other relevant details.
- Office Space and Facilities: Select the appropriate office space or facility that suits your business requirements within RAKMC. The free zone offers a variety of options, including office spaces, warehouses, and land for development.
- Visa Processing: If you require residency visas for yourself and your employees, you can initiate the visa application process. RAKMC provides support and guidance throughout the visa application and processing procedures.
- Bank Account Opening: Open a corporate bank account with a reputable bank in the UAE. RAKMC offers assistance in connecting you with the right banking institutions to fulfil your financial needs.
- Operational Support: Once your business is set up, RAKMC provides ongoing support services such as administrative assistance, visa renewal support, and other value-added services to help you run your operations smoothly.
What are the documents required to get the RAK Maritime City Free Zone (RAKMC)
To set up a business in RAK Maritime City Free Zone (RAKMC), you will typically need the following documents:
- Application Form: Complete and sign the application form provided by RAKMC. This form serves as the primary document for initiating the company setup process.
- Business Plan: Prepare a detailed business plan outlining your company’s objectives, proposed activities, marketing strategies, financial projections, and any other relevant information. The business plan helps demonstrate the viability and potential of your business to the free zone authority.
- Passport Copies: Provide clear and valid passport copies of all shareholders and directors involved in the company. The passport copies should have a minimum validity of six months.
- Proof of Address: Submit a recent utility bill or bank statement that serves as proof of address for each shareholder and director. The document should display the residential address of the individuals.
- NOC (No Objection Certificate): If you have a UAE resident visa sponsored by another company, you may need to obtain a No Objection Certificate (NOC) from the current sponsor, granting permission to set up a business in RAKMC.
- Corporate Documents (if applicable): If the shareholder is a corporate entity, provide the company’s Memorandum and Articles of Association (MOA/AOA), Certificate of Incorporation, and Board Resolution authorising the establishment of a branch or subsidiary in RAKMC.
- Bank Reference Letter: Obtain a bank reference letter from the shareholders and directors’ respective banks. The letter should confirm the account holder’s good standing and financial stability.
- CV/Resume: Prepare a comprehensive curriculum vitae (CV) or resume for each shareholder and director involved in the company. This document highlights the relevant experience and qualifications of the individuals.
- Lease Agreement: If you have selected an office space or facility within RAKMC, provide a copy of the lease agreement or tenancy contract for the premises.
What is the Cost of RAK Maritime City Free Zone (RAKMC)
- Licence Fees: The licence fees for RAK Maritime City Free Zone (RAKMC) vary depending on the type of licence and business activity. The cost can range from approximately AED 15,000 to AED 25,000 and upwards.
- Company Registration Fees: RAKMC charges a one-time company registration fee, which typically ranges from around AED 5,000 to AED 7,000.
- Office Space Rental: The cost of office space within RAKMC depends on factors such as the size, location, and facilities. Office rents can start from approximately AED 18,000 per year for small-sized offices, and the rates increase as the size and amenities of the office space increase.
It’s important to note that these figures are approximate and can vary depending on the specific requirements of your business. It is recommended to contact RAK Maritime City Free Zone directly or consult with a business setup provider for accurate and up-to-date cost information tailored to your specific needs.
FAQ'S
Frequently Asked Questions
Can I have 100% foreign ownership in the RAK Maritime City Free Zone?
Yes, RAKMC allows 100% foreign ownership, providing entrepreneurs with full control and autonomy over their businesses.
Are there any restrictions on the types of business activities allowed in RAKMC?
RAKMC supports a wide range of business activities across various sectors, including maritime, logistics, trading, manufacturing, and more. However, there may be specific restrictions on certain sensitive industries or activities, and it’s advisable to check with the free zone authority for the specific requirements of your desired business activity.
What is the process for obtaining visas for employees in RAKMC?
RAKMC offers support and guidance for obtaining visas for employees. The specific process may vary depending on the company structure and visa requirements. Generally, it involves submitting the necessary documents, such as passport copies, medical fitness certificates, and sponsorship-related paperwork, to the relevant authorities.
Are there any annual audit requirements for companies in RAKMC?
Companies registered in RAKMC are typically not required to submit annual audit reports. However, it’s advisable to maintain proper financial records and consult with a financial advisor or an audit firm to ensure compliance with any applicable accounting and reporting regulations.
Can I rent a virtual office in RAKMC?
Yes, RAKMC offers virtual office solutions for businesses that do not require a physical office space. Virtual offices provide a professional business address and various administrative services without the need for a dedicated physical office.
Can I upgrade my licence from one activity to another in RAKMC?
Yes, RAKMC allows for licence upgrades or modifications. If you wish to change your business activity, you can apply for an activity change or upgrade your existing licence to include additional activities, subject to the approval of the free zone authority.
What is the duration of the company setup process in RAKMC?
The duration of the company setup process can vary depending on the type of business and the completeness of the required documentation. Generally, it takes approximately 2 to 4 weeks to complete the initial setup process. However, it’s important to note that this is an estimate and the actual timeframe may vary.
Can I sponsor employees for UAE residency visas with my Fujairah-based company?
Yes, if you meet the eligibility criteria, you can sponsor employees for UAE residency visas. The specific requirements and procedures for employee sponsorship will depend on the type of business entity and the employment regulations in place.
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