- July 21, 2020
- Posted by: Dhivya Krishna
- Category: company formation
In the world of the competitive business run, companies must try to search and find opportunities. The UAE Rakez is providing many new opportunities for business people with a bundle of many new traits and work. The RAKEZ offshore companies procure you to create your company there with maximum flexibility and credibility. It requires the services and advice from a registered agent. Based on the compassion and potential, Ras Al Khaimah Economic Zone (RAKEZ) was established during 2000, to regulate and consolidate the specialized clients of both (FAK FTZ) Ras Al Khaimah Free Trade Zone and the (RAKIA) RAK Investment Authority.
After the consolidation of the two free zones- Rak Free Zone and RAK Investment Authority, the Rakez saw huge growth. Furthermore, with a great list of auditors in Rakez, all financial audits are quite easier. With an amazing location, Rakez associated investors from the Middle East, North Africa, Europe as well as South and Central Asia. The list of auditors in Rakez is co-operative and remarkable. Hence, to make companies have an easier time, Rakez portal is introduced. The portal is an online platform. The RAKEZ portal provides all kinds of services and makes work simple. Want to set an office with a reasonable and affordable price? Setting up a physical office and your location is not near Dubai? With no hesitations, choose RAKEZ. RAKEZ is the best.
Advantages of setting up a company in the Rakez:
- Firstly, complete ownership and profit repatriation
- Secondly, there is no personal and corporate income taxes
- Thirdly, re-exported goods have no customs duty
- Theretofore, it provides unlimited space to grow the industrial operation with land plots for operation
- It is also cost-efficient and has flexible facilities
- Also, various sizes of warehouses available in proximity to seaports and airports
- Additionally, it delivers Limited Liability Company
- Allows for the opening of Bank accounts in the UAE
- Subsequently, RAK Audit firms are professional
- A country of law can be assigned. For instance, English Common Law
- Multiple classes of shares can be published.
- Incorporation time is wide (24 hours)
- In the UAE, virtual office capabilities are available
Types of the license provided by the Rakez:
There are different areas for which the license has been provided by the Ras Al Khaimah Economic Zone. They are as follows:
- General trading
The fee of each license differs based on the visa eligibility, office facility, and the type of ownership. The FZE for single ownership and FZ LLC are for a partnership from 2 to 5 partners.
Setting up a company in the RAKEZ:
If you choose Ras Al Khaimah as your new business set up area, it is such a time-saving and amazing idea. It can be done within a week, involving a lot of time consumption. Personally, the businessman can visit the place. The visit needn’t be till the Rakez; instead, you can visit the representative office of the free zone in Dubai.
The Rakez also has international offices in India, Turkey, and Germany, where your applications can be filed. It has offered help to over 13000 and more companies around the globe in more than 100 countries above 50 sectors. This encompasses both Free Zone and non-Free Zone entities registration in Ras Al Khaimah.
Ras Al Khaimah Company’s register is not open to the public and it is kept confidential. Audit firms in ras al khaimah are well known throughout the world and are entrusted completely.
Unfortunately, if your application is rejected for any major reason after the payment, a refund is available.
RAKEZ audit and RAKEZ approved auditors:
One of the most crucial processes in a company is auditing. All the financial records of the company need to be filed accurately. The statements of the audit are important features to lead a confident and precise job. Rakez approved auditors are responsible for all the auditings in the Rakez companies. The Ras Al Khaimah Economic Zone approved auditors to audit both the industrial and non-industrial companies in the zone.
The RAKEZ (Ras Al Khaimah Economic Zone) Residence visa:
In the Rakez, the cost of every visa is based on the status of the applicant’s current location, if the application is being processed inside or outside the UAE. The visa amendment is done only if the applicant has canceled his/her previous residence visa or if he/she is transferring within the Rakez.
In case, if you are willing to apply for the UAE residence visa of the UAE, you should first apply for the Status Change service which will not require you to exit the UAE country. Hence, you can enjoy the hassle-free process.
Renewal of the license:
The Ras Al Khaimah license renewal has to occur periodically. The process for the same is easy and quick. The shareholder need not walk down in person to apply for the license renewal. The Rakez requires financial audits of the companies. The shareholder needs to submit the audit report at the end of the financial year by their own choice of the month.
- Firstly, in Dubai, KGRN serves as a multi-purpose accounting firm connected all over the world.
- Secondly, KGRN is a common and trustworthy platform for all taxation services and accounting services
- Registered and duly licensed
- Also, all the experts of the best-outsourced accounting services in Dubai are a part of the KGRN
- Furthermore, we will guide you throughout the process
- Additionally, there are no hidden charges
- In fact, we have thousands of happy and satisfied customers
- Furthermore, we promise on-time delivery
- We also provide instant updates about the process and guide you throughout the process
- Additionally, KGRN will help you assist with transparent communication with the best monthly accounting services in Dubai
- Lastly, to make work simple, we have contact with the best auditors of the Rakez auditor’s list
- Should the company renewal occur regularly?
Yes, the company renewal must happen annually.
2. How can payment be done in Rakez?
Payment options include:
- Firstly, online payment through portals
- Secondly, RAKEZ Business Service Centers
- Thirdly, bank transfer
3. How many shareholders are possible for onshore and offshore free zone companies?
Maximum of 50 shareholdersfor onshore and offshore free zone companies
4. Is the Rakez visa mandatory?
No. The Rakez visa is not mandatory. Businessmen can operate even with a non-Rakez visa.
For more info, please contact,
Gopu Rama Naidu, CPA FCA
Phone: +971 504 520648 | +971 455 70204