The legal framework and laws of the UAE control the formation of RAK mainland companies. They are governed by the Emirates government. Investors wishing to start corporations in RAK have the following choices to select from:

1. Branch of Foreign Companies
2. Limited Liability Companies (LLC)
3. Public Shareholding Companies
4. Professional Firms
5. Representative Offices

The process of setting up a business in RAK is simple, however investors need to follow some legal requirements and documentation requirements, such as

• Specifying the economic type and legal business formation,
• Notarizing company MOA,
• Applying for company registration,
• Having a local sponsor,
• Obtaining the required government approvals,
• Filing the relevant documentation with the chamber of commerce and the DED,
• Registering company name with the economic development department (DED).

Owners of foreign businesses must designate local sponsors. These regional backers own 51 percent of the business. The proprietors of the corporation will possess the remaining 49% of the shares. When a foreign national holds a professional licence, they own 100% of the company. However, they will designate a local support representative to aid them. For the foundation of a mainland firm, approval from the Department of Economic Development (DED), the Municipality, the Ministry of Labour (MOL), the Ministry of Interior (MOL), and other relevant authorities is required. A special permission from the relevant authorities could be needed for some company operations.

Setting up in Ras Al Khaimah is simple and quick when you have professional assistance. However, there are a few things you must take care of before finishing your licence application.

• Clearly outlining your targeted company activity is the first stage. There are a variety of activities available, including trading, e-commerce, education, and commercial and industrial. To prevent issues later on, you should explicitly include the activities that best fit your firm in your licence application once you have made your decision.

• Selecting a name for the business is the next stage. Verify that the name complies with the UAE’s naming guidelines, the majority of which are common sense: no profanity or derogatory language, for example. Prior to submitting your licence application, you must confirm that the name you have chosen is available for registration. After making these important choices, it’s time to submit your licence application.

• The RAK Department of Economic Development receives applications from companies establishing themselves on the Ras Al Khaimah mainland (DED). The initial application can often be finished online. In addition to your filled-out application, you will typically need to submit:

• A No Objection Certificate (NOC)
• Copies of visas/entry stamps for all shareholders, directors, and managers
• Colour passport copies for all shareholders, directors, and managers
• A business plan

There are two more crucial steps in the process once your trade licence application has been filed and processed. Applying for your visa and the visas of your staff should come first. As soon as you obtain your trade licence, you must apply for a visa. An application, a medical examination, and biometric data collection are the steps in the UAE visa procedure. Working with an expert is a fantastic option because this is a crucial phase in the process that will ensure your application is accepted and doesn’t get delayed needlessly.

Finally, at this point, you ought to apply for a corporate bank account. Since every bank in the UAE has different requirements for eligibility and account opening, accessing financial services could appear difficult. To guarantee a seamless account opening process at this point, you should enlist the assistance of a specialist in assisting foreign investors in opening bank accounts in the United Arab Emirates.

Investors and entrepreneurs can choose from a range of business setup options provided by Rotana Biz Consultancy. Our advisers will assist you with every step of the business registration procedure, handle all the paperwork involved in incorporation and registration, and submit all essential legal documentation to the appropriate authorities. By relieving you of the responsibility of submitting a trade licence application, we’ll also make sure you can concentrate on more crucial tasks like managing your business.