10 Advantages of Setting Up a Business in RAK

by commitbizadmin 24, Sep 2019

10 Advantages of Setting Up a Business in RAK

Situated in the Northern part of the UAE, and surrounded by the Hajar Mountains, Ras-Al-Khaimah turns out to be one of the investor-friendly Emirates that grabs the attention of worldwide investors and business owners. The presence of many logistics hubs such as seaports, international airports, and multi-lane superhighways has made the location turns out to be the first choice of investors. The ceramic industry stands as a dominant player when it comes to the business industries prevailing in RAK.  There exist numerous benefits that the region provides to its investors, and if you are planning to set up a business in RAK, then this guide will help you in understanding the advantages that you will be availing.

1.No Boundation

By selecting Ras Al Khaimah as your business location, you will have no strict rules and regulations as compared to any other jurisdiction. The region has got its own set of rules and regulations set by the Ras-Al-Khaimah Investment Authority (RAKIA) that needs to be abide by the business entities established in the region.

2.Business Confidentiality

One of the most essential things in business is to maintain confidentiality regarding the business proceedings. When it comes to RAK, this turns out to be an attention-grabbing factor that invites numerous investors worldwide. The Government takes utmost care in providing business confidentiality to the business owners.

3.Double Taxation Agreement

The concept of Double Taxation Agreement or DTA revolves around the fact that this agreement allows business trades between two countries by avoiding the taxes that need to be incurred during the import and export process. Business setup in RAK is prominent because the UAE has got number of DTA with multiple countries, which turns out to be a benefit for business owners to transit business.

4.Asset Protection

RAK comes with an added advantage of asset protection regarding the offshore company that ends up creating a barrier between the creditors and business assets. The region has got strict rules regarding business asset protection that builds a sense of security in the minds of business owners and stands as one of the beneficial factors for business.

5.Legal Protection

Under the lawsuit protection of RAK, the region saves the possession in case of legal proceedings and judgements. Before granting the incorporation status to a company, the RAKIA scrutinizes the complete business setup proceedings at every step. Even if there is a lawsuit, at some point in the business cycle, the possessions under the company get easily protected.

6.Low-Cost Warehouse

The region of RAK has got customized warehouses comprising of customizable structures for different businesses industries.

7.Location Advantage

Strategically located, the region of RAK has a diverse network of multilane superhighways and logistic hubs. A well-set destination for trading, manufacturing and storage, RAK grabs the attention of worldwide investors. The region has got multiple free zones that provides more flexibility to the investors and also provides them with a well-established tax-free ground for company establishment.

8.100% Ownership

By incorporating a business entity in RAK, you get the flexibility of owning complete ownership of your company. You won’t face the issue of giving the authority or control of your company to an unknown UAE localite.

9.100% Repatriation of Capitals Invested and Profits Earned

Investing in RAK turns out to be profitable because if a time comes when you need to avail for company liquidation, the region allows you to take back the entire capital invested along with the profits earned during the complete business cycle.

10.No Import-Export Tax

Before you invest in RAK, you might wonder how much tax do you need to pay if you enter the import-export zone right? Well, the good news is that you don’t have to bear any tax. RAK provides the flexibility of carrying out the business import-export activities at a free of cost, and thus decreases the tax burden.

In a nutshell, we can say that setting up a business in RAK turns out to be profitable for business investors. Dealing with the proceedings in a foreign land might turn out to be difficult as you may not be aware of the legal proceedings. To ease the process, most of the business owners end up joining hands with business consultants who can help them in that matter professionally. This helps you to focus on your business priorities in a much efficient way. Commitbiz consultants are here who have been helping multiple clients to establish their business foundation in UAE. Our experts take the initiative of understanding your business needs and cater to the needs by providing customized solutions effectively. To have a word with our experts, do contact us- we’d be glad to assist.