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RAK - UAE COMPANY FORMATION SERVICES

Q. Which type of RAK company do I need - RAK IC or Free Zone?

Q. Do I need to visit RAK to form a RAK IC company?

Q. What paperwork do I need to open a RAK IC company?


FREQUENTLY ASKED QUESTIONS Company incorporation Bank account opening

Q. Can I open a bank account for RAK IC company in the UAE?

Q. Can I open a bank account for RAK IC remotely elsewhere?


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ABOUT RAK

The UAE is fully sovereign Constitutional Federation of seven emirates: Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah and Fujairah.

Location

RAK (Ras Al Khaimah) is located on the eastern side of the Arabian Gulf. It is about an hour’s drive from Dubai and from Dubai airport. A little further away is the international airport of Abu Dhabi.


RAK (Ras Al Khaimah), UAE company formation


There are many jurisdictions offering offshore companies, however, what distinguishes RAK companies from many others is that it is a ‘no tax emirate’. Therefore, there are no personal or corporate taxes in the UAE at present.

Types of companies in RAK, UAE

There are two types of RAK companies that we offer to our clients:


RAK International Company - RAK IC

RAK Free Zone Company - RAK FZ


What is the difference between these types of companies? Read a quick comparison below:


RAK IC

RAK FREE ZONE

Personal visit

Not required.


After initial approval by the registry
a visit to RAK is required to finalise the formation.

Is an office required?


Only a registered office is required in order to receive government mail. Our fee includes this.



A physical office/office space is required. We can help you with finding the right office for your needs.

Accounts & Audit




Accounts should be maintained & provided to shareholders, however, t
here is no requirement file these accounts.




Accounts should be maintained & provided to shareholders, however, there is no requirement file these accounts.

Local director /
shareholder

No, not required. A RAK IC can be 100% foreign owned & controlled.

No, not required. A RAK FZ can be 100% foreign owned & controlled.

Licence requirement



No licence requirement provided the proposed business is acceptable to the RAK ICC.



A licence is required e.g. consulting, trading etc. Costs vary and will be quoted for by RAK ICC.

Investor visa / residence card possible?

No, RAK ICs do not offer the possibility of UAE residency.

Yes, depending on the structure of the company one or more visas will be possible.  

Formation time scale

Approximately one week

Approximately a month


Ease of opening a bank account in UAE



It is quite difficult to open a UAE account for RAK IC, we recommend opening in another country.

It is easy to open a bank account for RAK Free Zone companies.

Formation costs (first year)

US$ 2,875


Company formation & license
cost start from US$ 8,000 +
our fee of US$ 3,000.

ABOUT US

As licensed company service providers in Ras Al Khaimah, our company, TMS FZE can provide a one stop solution for all your RAK company needs.   

We offer very competitive prices whilst providing flexible &  fully professional service to our clients.

Form a RAK Company Renew your RAK Company Read more about RAK FZ Read more about RAK IC