Trade License in Ras Al Khaimah

Ras Al Khaimah is one of the seven Emirates in the UAE. Its location and government efforts to market the region as the ideal business set up location have positioned it as the go-to investment region for foreign investors. RAK has slowly grown and gained credibility as an attractive hub for business with a vibrant and diversified economy.

The commercial incentives and low-cost business set up have attracted a huge range of commercial activity. RAK offers growth opportunities in all business sectors of the trade, including the procurement of professional services. The transformation from an economy historically centered on agriculture and fishing, RAK has adopted many commercial privileges enjoyed by neighboring Emirates such as Dubai and Abu Dhabi in developing Special Economic Free Trade Zones. RAK boasts a wide

range of business and trade licenses, extending to industrial and professional consultancy services licenses.

To set up a company in Ras Al Khaimah, one needs to obtain a trade license. Having an appropriate business license allows one to commence its operation in RAK.

Types of Business License in RAK

 

License Type

Activities Covered

Industrial License

Manufacturing, processing, assembling, packaging, etc

Trading License

Import, export, distribution, warehousing, trading

General Trading License

All kinds of trading, import, export, storage, and distribution of goods

Commercial License

Activities covering contracting, repairing, maintenance, renting, shops, restaurants, etc.

Consulting/Service License

Any type of management, business, industrial consultancy or professional services including real estate consulting

Media License

All kinds of media and communication services

 

Procedure to Obtain a Trade License in Ras Al Khaimah

The steps to obtain a business license in RAK are -

  1. Select the type of business the company falls into - commercial, professional, or industrial
  2. Determine the various business activities that come under the license of choice (maximum ten activities)
  3. Select a trade name for the business
  4. Get an initial approval from the RAK Department of Economic Development
  5. The RAK licensing authority approves the license details and changes or adds to it if required
  6. The payment voucher will be allocated
  7. After the fees are paid, the applicant will receive a business license and trade register certificate

The documents required to complete the step mentioned above are -

  • Filled license application form
  • Lease contract attested by the Notary Public
  • Certificate of trade name
  • Photocopies of the passport, Family Book and National ID for the UAE Nationals
  • Certified No Objection letter, photocopies of visa, passport, or residency for foreigners
  • Report of Technical Evaluation
  • Government departments approvals, if required
  • Service Agent Contract approved by the Legal Affairs Section
  • Photocopy of certified tenancy contract
  • Land Map or Ownership Certificate
  • Approval of other governmental authorities, if needed

The business license is valid for one year, after which it must be renewed.

Trade License Renewal in RAK

The steps to renew a business license in RAK are -

  1. Have a valid tenancy contract for at least one month and must be attested by Ejari
  2. Apply for license renewal at RAK DED with all the required documents
  3. The DED allots a payment voucher. Proceed to pay the fees and obtain the license

The documents required under this procedure are -

  • A typed BR/1 form
  • Photocopy of Tenancy Contract and an Ejari Registration Certificate 
  • Photocopy of the current business trade license
  • Passport photocopies of all the shareholders and business partners

How can Commitbiz help?

We offer a full range of services to investors and entrepreneurs wanting to set up a company in the UAE. Right from business incorporation to office space, we cover it all. Our consultants have years of experience in this field and can make the process hassle-free. Contact us today for more information. We’d be happy to assist you.