Dubai


RAS AL KHAIMAH COMPANIES

 

KEY FEATURES

  • RAKFTZ International Company Regulations require no “local” shareholding, thus enabling 100% foreign ownership.
  • Although all UAE companies follow UAE law, RAKFTZ have the option of jurisdiction it wants applied for inheritance, disputes or any other matters. The law must be cited in the Memorandum & Articles of Association.
  • RAKFTZ have imposed very few restrictions on the activities of International Companies allowing for a wide range of business activities to be carried out.
  • Despite a general prohibition on International Companies to conduct business with persons resident in UAE, the Authorities frequently allow offshore companies to hold shares in both international and onshore UAE companies (i.e. local LLC companies).
  • The International Business Company could own real estate properties in the UAE in designated areas.
  • The International Business Company can hold a bank account in the UAE for the purpose of conducting routine operational and can also maintain professional relations with legal consultants, accountants and management companies or other similar persons carrying out business within UAE.
  • Incorporation documents can be signed at the offices or Representative offices of Excellenzia Corporate Services Ltd in Cyprus and other countries without having to visit RAKFTZ.

 

INTERNATIONAL BUSINESS COMPANIES

The characteristics of an international business company registered in RAKFTZ are as follows:

 

SHAREHOLDERS

A minimum of one shareholder is required. Corporate shareholders are permitted. Shareholders will decide capital structure of the Company. Whilst there are no minimum share capital requirements, please note that the par value of each share must be AED 1000. Bearer shares are permitted. Different classes of shares are permitted and shares have to be fully paid when allotted. The Register of members shall be available and open for inspection by any member of the company and any other related person. It is an offence to refuse inspection.

 

DIRECTORS

A minimum of one director is required and corporate directors are permitted. Details of directors are available for public inspection.

 

SECRETARY

Every company must have a secretary

 

TIMESCALE

Registration of a company in RAK Free Zone will take 1-2 weeks under normal conditions.

 

RESTRICTIONS ON NAME AND ACTIVITY

Names must end in ‘Limited’ or ‘Incorporated’.

The following words, and their associated activities, cannot be used: Assurance, Bank, Building, Society, Chamber of Commerce, Chartered, Co-operative, Fund, Imperial, Insurance, Municipal, Mutual Fund, Royal and Trust. 

NB: If the International Company wishes to conduct trade or other business outside the Ras Al Khaimah Free Trade Zone, it must obtain the appropriate approval and licence to conduct such trade or other business activity from the competent authorities in the UAE.

SHAREHOLDERS

·         Minimum

·         Residency requirements

 

·         1

·         No requirements


SHARE CAPITAL

·         Minimum authorised

·         Minimum issued

 

 

·         No minimum requirement

·         1 share

 

DIRECTORS

·         Minimum number

·         Residency requirements

·         Corporate directors

 

·         1

·         Not required

·         Allowed


LOCAL PRESENCE REQUIREMENTS

·         Directors

·         Company Officers

·         Meetings

·         Annual general meeting

 

·         Not required

·         Not required

·         Not required

·         Not required

AUDIT REQUIREMENTS

·         None, unless requested by the relevant                     authorities

MIGRATION

·         Allowed

SHARE TRANSFER DUTY

·         Nil

COMPANY NAME ENDING

·         Ltd. (Limited)

 

 

 

RAKIA FLEXI-PRODUCT PACKAGES

START- UP

MICRO BUSINESS

SMALL BUSINESS

FACILITY FEATURES

·         Shared fax number

·         Private company e-mail I.D.

·         1 shared computer, desk

·         and chair

·         High speed Internet

·         2 hours of usage daily;

·         5 days a week

·         Free electricity, water and

·         air conditioning

 

 

 

Visa not applicable

 

 

 

 

 

 

 

 

15,000 AED / YEAR*

FACILITY FEATURES

·         Shared fax number

·         Private company e-mail I.D.

·         1 shared computer, desk

·         and chair

·         High speed Internet

·         2 hours of usage daily;

·         5 days a week

·         Free electricity, water and

·         air conditioning

 

 

 

ELIGIBILITY FOR 1 VISA

Visa validity (Investor or Partner): 3 years

 

With this package there can be 2 or more partners but only one of them can apply for residency visa

 

 

 

17,000 AED / YEAR*

FACILITY FEATURES

·         Shared fax number

·         Private company e-mail I.D.

·         Furnished and enclosed office

·         2 executive desks and chairs

·         per office

·         2 shared computers

·         High speed Internet

·         2 hours of usage daily;

·         5 days a week

·         Free electricity, water and

·         air conditioning

 

ELIGIBILITY FOR 2 VISA

Visa validity

(Investor or Partners): 3 years

Visa validity (Employees): 2 years

 

With this package it is possible to arrange 2 employment visas if investors do not require residency visa

 

20,000 AED / YEAR*

* Actual Cost includes total company setup and facility. Annual Renewal Cost is the same as above. Visa cost is additional.

 

 

 

INVESTOR/PARTNER VISA (ACTUAL EXPENSES)

 

NORMAL

URGENT

ROYAL

STEP 1. OBTAINING AN ENTRY PERMIT

 

 

 

Required fees for a three-year visa (AED)

Full Employment Package including Entry Permit, Medical Test and Emirates ID Application (3 years), Appliance of Investor/Partner Visa in Passport (3 years), and Investor Card (3 years)

 

4,550

 

5,550

 

-

Approximate time frame (working days)

Obtaining an Entry Permit

 

7

 

4

 

-

STEP 2. VISA STATUS CHANGE (UTILISING ENTRY PERMIT WITHOUT EXITING THE UAE, IF APPLICABLE)

 

 

 

Required fees (AED)

Visa Status Change

 

850

 

1,350

 

1,850

Approximate time frame (working days)

Visa Status Change

 

4

 

2

 

1

STEP 3. MEDICAL TEST

 

 

 

Approximate time frame (working days)

Collection of medical result

 

2-3

STEP 4. APPLIANCE OF INVESTOR/PARTNER VISA IN PASSPORT

 

 

 

Additional fee required to upgrade employment package (AED)

Appliance of Investor/Partner Visa in Passport

Fee is Included in full employment package

 

1,000

 

1,500

Approximate time frame (working days)

Appliance of Investor/Partner Visa in Passport

 

7

 

4

 

2

 

EMPLOYMENT VISA (ACTUAL EXPENSES)*

*Information can be provided upon request

 

EXCELLENZIA CORPORATE SERVICES LTD ADMINISTRATIVE FEES (AED)

 

DESCRIPTION

 

PERIODICITY

 

FEE

Administration Fee for the assistance with Free Zone Company set up

 

ONE TIME

 

15,000

 

Administration Fee for assistance with Business Plan Preparation

 

ONE TIME

 

5,000

 

Administration Fee for the assistance with obtaining of UAE Residency Visa

 

ONE TIME

 

2,000

 

 

ADDITIONAL FEES (AED)

DESCRIPTION

 

PERIODICITY

FEE, AED

CONCIERGE SERVICES

PER DAY

1,525

INTRODUCTION TO THE BANK

ONE TIME

1100

COMPANY ESTABLISHMENT CARD

PER YEAR

500

HEALTH CARD

PER YEAR

1000

COMPANY STAMP

ONE TIME

500

 

MINIMUM SHARE CAPITAL REQUIREMENT

 

LICENSE

INDUSTRIAL

COMMERCIAL TRADING

GENERAL TRADING

CONSULTING           

MEDIA

 
 

 

MINIMUM SHARE CAPITAL

 

1 MLN AED

 

75 000 AED

 

1 MLN AED

 

75 000 AED

 

75 000 AED