If you are an expatriate worried about passing on your assets to your heirs, then ask us how RAK Offshore can be of benefit to you.
If you are an international co…
January 3, 2010 By Leave a Comment
If you are an international consultant worried about passing on your assets to your heirs, ask us how RAK Offshore can be of benefit to you.
If you are an importer, export…
January 3, 2010 By Leave a Comment
If you are an importer, exporter worried about passing on your assets to your heirs, then ask us how RAK Offshore can be of benefit to you.
Are you dreaming about buying …
January 3, 2010 By Leave a Comment
Are you dreaming about buying a second home in a vacation paradise? An inexpensive RAK offshore company may be just the answer.
Ras Al Khaimah free zone inves…
December 30, 2009 By 1 Comment
Ras Al Khaimah free zone investors can expect an easy and rapid licensing procedure every step of the way…
We are now offering an RAK off…
December 30, 2009 By Leave a Comment
We are now offering an RAK offshore company, starting at US$ 3500 including a bank account!
UAE Free Zones
December 29, 2009 By 2 Comments
The UAE Free zones are well equipped with all the amenities, facilities and communication infrastructure required to set up a business.
Establishing a business entity in one of the numerous UAE Free Zones (FTZs) can be an attractive option for foreign investors and foreign trade.
All seven Emirates already have, or are developing, such economic zones.
There are over 20,000 companies in 21 UAE Free Zones.
The largest Free Zones, by number of companies, are the following:
- Jebel Ali Free Zone (6,000 companies)
- Sharjah Airport International Free Zone (3,900 companies)
- Dubai Airport Free Zone (1,300 companies)
- Dubai Media City (1,200 companies)
- Dubai Internet City (1,000 companies)
UAE Free Zones | Al Hamra Houses
Individual UAE Free Zones may have specific requirements, but general steps are:
- Questionnaire from the relevant Free Zone Authority which will assist in assessing a company’s requirements
- License application, planning documents, and a consumer request for electricity
- Provisional approval and lease agreement
- Meetings with the authority to finalize details of the project
UAE free zones, with the number of zones increasing, their impact on the uae economy has deepened.
The Jebel Ali free Zone being the first UAE free zone in the country has created the benchmark for regulations & incentives.
Its rapid growth has also provided a powerful economic inspiration to the other emirates, which have set up their zones to attract investment.
UAE free zones main mission is to be the free zone management, consultants and advisors of choice by providing world class, technically advanced, transparent and focused business services that allow our partners and clients to thrive in the global market.
Once a legal presence has been established in UAE Free Zones, the business will need to lease premises or land and acquire an operating license from the FZA.
Different types of licenses apply in the different types of free zone, however, in general companies with trade and industrial licenses can only conduct business within the Free Zone or abroad.
To sell their products in the UAE, a UAE official agent is required.
Services and products can be obtained from and within the UAE without an agent.
Other types of license available are service licenses (e.g. banking, insurance, air shipment etc) and national industrial licenses.
UAE Free Zones | Al Hamra Highway
The share capital of a company applying for a national industrial license must be at least 51 per cent GCC and 40 per cent of the sale value of the product must be value added.
Uae free zones offers:
- Offshore centre in Rakia
- Company formation in DIFC, DMCC, DSC, DOZ
- Company formation in Dubai technology & research park
- General trading in dubai
- Dubai studio city free zone
- Company formation in building material zone
- Nominee shareholder services required in Dubai
- Dubiotech
- Rakia offshore
- Registered Agents with Rak offshore
- Dubai design center
- Dubai energy city
- Abu Dhabi ports city
- International humanitarian city
- Dubai international academic city
- Special purpose company at DIFC
- Tecom business park
- Rak media city
The main UAE Free Zones are the following:
- United Arab Emirates Free Zones
- Jebel Ali Free Zone
- Dubai Internet City Free Zone
- Dubai Media City Free Zone
- Knowledge Village Free Zone
- Dubai Airport Free Zone
- Hamriyah Free Zone
- Sharjah Airport International Free Zone
- Ras Al khaimah FTZ
- Abu Dhabi Airport Free Zone
- Ajman Free Zone
- Fujairah Free Zone
- Dubai logistics
Among these UAE FreeZones we incorporate is the Ras Al Khaimah Free Zone Company.
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Ras Al Khaimah Government
December 29, 2009 By 4 Comments
Ras Al Khaimah Government
Ras al khaimah government has begun placing itself on a path to join the “big three” of the UAE: Dubai, Abu Dhabi and Sharjah as an attractive investment destination, albeit on a different course.
Higher rents for residential and office space, increasing traffic problems and generally more stressful working environments in the bigger emirates are all factors why living and doing business in RAK is becoming more appealing.
The UAE is a federation of seven sheikhdoms: Abu Dhabi, Ajman, Dubai, Sharjah, Fujairah, Umm Al-Quwain and Ras Al Khaimah.
These sheikdoms signed the General Maritime Treaty with the UK in 1853.
Ras Al Khaimah Government | Ras Al Khaimah Government New Bldg
Ras Al Khaimah joined the UAE federation in 1972 as the last of the seven emirates.
The ruler of the emirate, Sheikh Saqr bin Mohammed Al Qasimi, has been in power since 1948.
Since 2002, most of the day-to-day political and economic operations are carried out by the crown prince and deputy ruler, Sheikh Saud bin Saqr Al Qasimi.
In 2005, the Ras al Khaimah government announced a new policy of political liberalization. At the end of 2006, elections were held for the half of the seats of Federal National Council, while the other half will continue to be appointed by the government.
Various local government departments have been established to execute numerous functions.
Ras al Khaimah government local departments:
- Emiri Court
- Law Court
- Land Department
- Municipality Department
- Public Works and Services Department
- Economic Department
- General Accounts Department
- Ras Al Khaimah Oil and Gas Commission
- Ports and Customs Department
- Civil Aviation Department
- Information and Tourism Department
- Ras Al Khaimah Broadcasting Corporation
- Antiques and Museums Department
Having learned from the experiences of those other emirates that had started earlier, RAK’s political leaders are better able to formulate a successful development plan.
as Al Khaimah Government | Ras Al Khaimah Government RAKIA New Bldg
As a member of the UAE, Ras al khaimah government has access to excellent security forces, backed by the US and increasingly by Russia.
Liberalization of the ras al khaimah government continued in 2007 as well, following the election of the country’s first legislature.
While its powers are still limited, the UAE is garnering recognition worldwide for its efforts, with RAK in particular gaining notoriety through the progress it has achieved in its enfranchisement of women.
The emirate appointed nine women to the Federal National Council in February 2007, far surpassing other governments in the region. RAK has achieved equal literacy rates for both sexes in the UAE and currently counts more women enrolled in universities than men.
The Ras Al Khaimah Government established a real estate development company “RAK Properties” as a Public Joint Stock Company to oversee the development of real estate and leisure sectors in the Emirate of Ras Al Khaimah in particular, as well as other Emirates in the UAE in general.
Ras al khaimah established Rak free zone in 2000 is one of the fastest growing and most cost effective free trade zones in the uae and today is home to some 5000 companies.
Rak free zone has numerous features. Some of them are the following:
- 100% foreign ownership
- 100% income and corporate tax exemption
- 100% Capital & Profit repatriation
- Long term renewable lease
- Strategic location with access to over 1.2 billion consumers
- Transparent laws and regulations
- Promotion centers in Dubai and Abu Dhabi
- Simple and fast application procedures
- State of the art communication facilities
- Excellent Sea port and International Air port facilities
- Easy international Access
- Abundant energy supply
Etisalat has linked the Ras Al Khaimah’s eGovernment authority with nine local government departments, including the RAK Traffic Police Department, through a high-speed data cable network.
By segregating business activities according to function, operational requirements, and the needs of the surrounding communities, RAK Free Zone has created a system of three Free Zone Parks.
The three Parks: Technology Park, Industrial Park and Business Park are spread over three different locations within the Emirate. Moving forward, the Rak free zone is expected to see more and more companies joining in.
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Rak Free Trade Zone
December 29, 2009 By 8 Comments
RAK Free Trade Zone
RAK Free Trade zone (RAK FTZ) is one of the fastest growing free zones, with more than 3,400 companies from 100 countries around the globe and also most cost effective free zone in the region.
Most importantly, it offers a trouble free customer friendly environment, which is crucial for the success of any enterprise.
Rak free trade zone has created a name for itself around the world, following an extensive marketing and awareness campaign.
It is a world class business hub and vehicle for industrial growth and development.
The free zone also offers a range of unique services which include the legal, human resources and marketing assistance. Strategically located in the northern part of the UAE, and only 45 minutes by road from Dubai, it provides easy access to more than 2.2 billion consumers in the region.
Rak began an ambitious phase of development including investments in infrastructure improvements, tourism, shopping and efforts to attract industrial and commercial enterprises. Among the most important of these endeavors is the establishment of Rak free trade zone.
The main objective was to source and attract environment friendly, quality companies with the emphasis on technology-oriented industries. The simple procedure and lower operational cost of Rak Free Trade zone compared to others in the region is one of the many attractive features for investors.
There are various reasons to invest in Rak free trade zone. They are the following:
- Politically safe
- Free from corporate and income taxes
- Competitive labor, office and warehouse rates
- Cheaper cost of living
- Progressive and fast growing Free Zone
- Easy road, sea and air access
- The first port when entering the Gulf
- Growing rapidly
- Beautiful coastline
With world class infrastructure, tax-free environment, hassle free procedures, value added services and all facilities in expect from a world class free zone.
RAK Free Trade zone is an alternative worthy of consideration, when planning a business in the uae.
RAK Free Trade Zone offers solutions for every kind of business. Its flexible services and products address the differing and constantly evolving demands of enterprises of all sizes from local branch offices to the head quarters of multinational companies.
The Rak Free Trade Zone contains three different business park specializing in various functions:
The first is a Business Park for trading and services which has fully-equipped offices. In addition, the RAK Exhibition Centre, a five star hotel and a shopping and entertainment complex are all within proximity.
The second section houses the Industrial Park, which was designed for heavy industrial production and warehousing of raw materials or finished products. Plot sizes are provided to suit individual client requirements and are fully serviced with water, electricity and telecommunications.
The third is a Technology Park located in a rapidly expanding area devoted to automated manufacturing and capital-intensive quality lifestyle projects such as electronics and apparel.
These three parks are offering the well-furnished offices, warehouses and land of various sizes.
Rak free trade zone are issued four types of licenses for different types of commercial and general industries which includes commercial general trading license, consulting and service license.
Ras Al Khaimah free zone supports accomplishment of 4 types of companies, which are free zone establishment. One, is owner, second is free zone Company of 2-5 partners. Third is foreign branch (International co.) and fourth is local branch (UAE).
Ras Al Khaimah will be known as a region where businesses are welcome, successful and flourishing. Rak free trade zone can undoubtedly be called the fastest growing free trade zone in the region.
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Rak Business
December 29, 2009 By 2 Comments
RAK Business
RAK business mainly depending on industry. Ras Al Khaimah is one of the seven emirates forming the UAE federation.
It is the northernmost emirate, located approximately 100 kilometers north-east from Dubai to which it is connected by the dual carriage Emirates Road, a coastal highway, and by a number of small single carriage roads.
Ras Al Khaimah ranks among the smaller emirates of the UAE federation but it has always had an important position.
In the past it was a centre of traditional shipbuilding and maritime commerce, more recently as a centre of quarrying, manufacturing and tourism.
Since 2003, Ras al khaimah government has been pursuing the policy of diversification of the economy, industrialization and promotion of tourism, investment into education and public health and by investment into public utilities.
Its gas reserves are more important but revenues from gas are also of a lesser importance than in other emirates and the emirate has had to look beyond its borders to fulfill its demand for gas.
As the emirate will never be a major oil producer, RAK has instead had to concentrate on developing its industrial sector. Rak business boasts the largest rock quarry in the Gulf Region.
Cement and ceramics remain the dominant industries in RAK and officials aim to make these sections regional and global leaders in terms of production.
The Emirate is rich with the raw materials such as limestone, clay, quartz and other minerals.
Rak business is unique in the Gulf region as it has a high concentration of leading industrial units which process these natural resources and manufacture various types of cement, clinker, ceramics and other building materials.
It opened the UAE’s first cement company in the early 1970s and is now the UAE’s largest producer of cement.
The emirate formed RAK Ceramics in 1980s, which has become the world’s largest ceramics producer, and Julphar, the Gulf region’s first pharmaceuticals company.
Since the 1980, other advanced manufacturing companies have set up operations in Rak business, including companies producing glass, CD and DVD discs, air-conditioning equipment, machinery parts, metal products and others.
More traditional industries, such as fishing and agriculture, continue to play an important role in RAK’s economy.
In 1955, the first agricultural research centre in the UAE was established there, and since then, innovative methods of arid zone cultivation have made the emirate one of the leading agricultural producers in the UAE.
Ras AL Khaimah is well known for its dairy and poultry products, eggs, fodder and animal meat. In addition to this, the fertile plains in the south-east produce fruits and vegetables for the local UAE market.
Tourism is also an area of targeted development in RAK business and RAK is in the process of boosting its meetings, incentives, conferences and exhibitions (MICE) segment through several projects, the largest of which is the construction of RAK Convention and Exhibition.
The ongoing expansion of RAK International Airport will also significantly increase tourist capacity.
Alongside these ambitious development goals, the emirate is also keeping its feet on the ground and the preservation of its unique heritage remains a main priority, ensuring that visitors will be continually drawn back to this culturally rich and geographically diverse place.
The emirates location at the crossroads of Europe and Asia lends itself to attractive RAK business opportunities that should help to develop the sector further and RAK FTZA hopes to double the number of registered companies in the next three years.
Rak Free Trade Zone has created a system of four parks-Business Park, Industrial Park, Technology Park and Al Ghayl Industrial park-that offer identical advantages and benefits to investors.
The three park concept includes the Business Park, industrial park and technology park, offering offices, equipped warehouses and land facilities situated in different locations across the emirate of Ras al khaimah, each park caters to the specific business interests and activities of the Rak FTZ investors.
The growth of industrial and free zones has been impressive given the significant free zone space throughout the UAE and while the emirate’s authorities are seeking to complement rather than compete with their neighbors, it is clear industrial land availability and prices are favorable in RAK business.
Ras Al Khaimah Free Trade Zone offers numerous incentives to its companies:
- 100% foreign ownership
- 100% income and corporate tax exemption
- 100% capital & profit repatriation
- Long term renewable lease
- Strategic location with access to over 1.2 billion consumers
- Transparent laws and regulations
- Promotion centers in Dubai and Abu Dhabi
- Simple and fast application procedures
- State of the art communication facilities
- Excellent Sea port and International Air port facilities
- Easy international Access
- Abundant energy supply
As the youngest of all of the Free Zones in the UAE, Ras Al Khaimah Free Trade Zone has built its international reputation and infrastructure only after careful research, planning and development, resulting in the introduction of a unique, ambitious 3 Park concept that did not exist previously in the UAE or even within the region, and the provision of premier business facilities for RAK ftz investors within other Emirates.
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Company Formation UAE
December 29, 2009 By 4 Comments
Company Formation UAE
Company Formation UAE may take one of seven forms:
1) Public Shareholding Companies
2) Private Shareholding Companies
3) Limited Liability Companies
4) General Partnerships
5) Limited Partnerships
6) Partnerships Limited by Shares
7) Shareholding Companies
Companies not taking one of these forms for Company Formation UAE are not legally recognized, and persons contracting in their name will be jointly and severally liable for the obligations arising from such contracts.
Exceptions apply only for companies located in a Free Trade Zone. There are also requirements determining minimal capital contributions, the number of directors and shareholders, and incorporation procedures.
Each entity must be registered and licensed with the UAE Federal Ministry of Economy and Commerce and with the appropriate authority in the Emirate in which its office will be located.
Furthermore, the law for company formation uae sets forth the general rule that participation of UAE nationals should never be less than 51 percent in any commercial enterprise. Some business forms and structures are generally not available to foreign investors, as will be elaborated below.
Public share holding company
Public shareholding company formation uae is a company with a capital divided into equal negotiable shares. In such companies a shareholder’s liability is limited by the number of shares held by him.
Minimum capital required to form a public share holding company in uae is AED 10 million with a nominal face value of AED 1-100. Shares are registered in a share register and cannot be issued lower than the nominal value. All shares must have equal rights.
The Board of Directors must have a minimum of three and not more than twelve directors. The chairman, as well as a majority of the board, must be UAE nationals for public share holding company formation uae.
Private Shareholding Company
Another company formation uae is private share holding company. A private shareholding company must have a minimum of three shareholders. The minimum share capital to form a private share holding company is AED 2 million.
Shares may not be offered to the public. The Chairman and majority of the Directors in a private shareholding company must be uae nationals.
Limited Liability Company
This type of company formation uae is widely accepted way to business. Under the Commercial Companies Law or CCL (Federal Law No. 8 of 1984 Concerning Commercial Companies as amended by Federal Law No 1 of 1984 and Federal Law No 13 of 1988, Federal Law No. 15 of 1998), foreign investors are permitted to hold up to 49 per cent equity ownership in UAE companies, 51 per cent of the equity must be held at all times by one or more UAE nationals.
This type of company formation uae can be formed by a minimum of two and a maximum of fifty persons.
Shareholder liability is limited to the value of shares held in the company’s capital.
The minimum capital required to establish a limited liability company is DH 150,000 in other emirates and DH 300,000 in Dubai. Non UAE nationals may own up to 49 percent of an LLC.
The Companies Law provides that an LLC may engage in any lawful activity except insurance, banking and investment of money for others.
Partnerships
General Partners
General Partnership company formation uae is a type of company where all the shareholders are jointly liable for the company liabilities to the extent of their assets. All the partners should be UAE nationals.
General partnerships are formed by two or more UAE nationals who are jointly and severally liable for its debts. Interests of a partner can be transferred as stipulated in the partnership agreement or with the approval of all partners.
Limited Partnership
A limited partnership is another type of company formation uae which composed of one or more general partners who are jointly and severally liable for all of its debts, and one or more limited partners who are liable for the limited partnerships debts only to the extent of his capital contribution.
A partnership limited by shares has both general partners with unlimited liability and partners whose liability is limited by their shares in the capital. The capital must be at least DH 500,000 and has to be divided into negotiable shares of equal value.
Joint Ventures
Another company formation uae is Joint Participation is a form of company consists of two or more partners for carrying out a single or multiple businesses by one of the partners in his own personal name.
This is a contractual agreement between a foreign party and a local party licensed to engage in the desired activity. The local equity participation in the joint venture must be at least 51%, but the profit and loss distribution can be prescribed.
There is no need to license the joint venture or publish the agreement. The foreign partner deals with third parties under the name of the local partner who – unless the agreement is publicized – bears all liability.
A joint venture is a type of company formation uae where contract may be written or oral and not required to be notarized. Third parties can recourse only to the partners with whom they deal.
Structures Available to Foreign Investors
General – A foreign investor may chose to participate with up to 49 percent in a company formed in one of the structures open to foreign investors.
Despite the requirement that the majority of shares must be held by UAE nationals.
Branches – A foreign company may establish a branch in the UAE but a local sponsor or agent is required who must be either a citizen of the UAE or a company wholly-owned by citizens of the UAE.
A branch must be registered with the local chamber of commerce and the municipality. Since February 1990, branches of foreign companies (including those already in existence) are also required to register with the Ministry of Economy and Commerce.
International company (offshore) – the most common uses of Offshore Companies are for business and investment purposes in order to protect your assets by minimizing your taxes.
The minimum number of shareholders is one person and maximum is 50 persons and they can select their own minimum capital in order to set up the company. Name of the company must include the suffix Limited or Ltd to denote limited liability.
If you are looking for an offshore company in the Middle East, rak offshore is the cheapest.
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Expatriates: Can save their ea…
December 27, 2009 By Leave a Comment
Expatriates: Can save their earnings via offshore, and build capital to invest in homes, businesses via the RAK offshore companies
RAK Offshore has not entered i…
December 10, 2009 By Leave a Comment
RAK Offshore has not entered into any information disclosure
agreements with any other countries.
* Expatriates: Can save their …
December 10, 2009 By Leave a Comment
* Expatriates: Can save their earnings via offshore, and build
capital to invest in homes, businesses via
the RAK offshore companies
RAK Offshore is the quickest t…
November 30, 2009 By Leave a Comment
RAK Offshore is the quickest to form and It has not entered into any information disclosure
agreements with any other countries.
RAK Offshore is an exciting ne…
November 30, 2009 By Leave a Comment
RAK Offshore is an exciting new jurisdiction, and the quickest in
the Middle East.
Business owners: Own their bus…
November 25, 2009 By Leave a Comment
Business owners: Own their businesses via RAK offshore companies
to ensure succession and tax planning.
Internet marketers: Receive we…
November 25, 2009 By Leave a Comment
Internet marketers: Receive web payments into offshore bank
account of the RAK offshore company.
Insurance beneficiaries: RAK o…
November 25, 2009 By Leave a Comment
Insurance beneficiaries: RAK offshore companies can be the
beneficiaries of the policy. Individuals become company
shareholders.
Expatriates: Can save their ea…
November 24, 2009 By Leave a Comment
Expatriates: Can save their earnings via offshore, and build
capital to invest in homes, businesses via
the RAK offshore companies
