UAE Business Visa Investment
Starting and setting up business in Ras Al Khaimah Economic Zone (RAKEZ), UAE
The United Arab Emirates (UAE) or Emirates as it is popularly known, is a county in Western Asia formed from the federation of seven emirates. These seven emirates are – Abu Dhabi, Dubai, Ajman, Fujairah, Ras Al Khaimah, Sharjah and Umm AI Quwain. Abu Dhabi is the nation’s capital, while Dubai, the most populous city, is an international hub.
The country is an elective monarchy and each emirate is governed by an Emir. Together, the Emirs form the Federal Supreme Council.
The members of the Federal Supreme Council elect a President and Vice President from among their members.
In practice, the Emir of Abu Dhabi serves as President while the ruler of Dubai is Vice President and also Prime Minister.
In 2013, the country had a population of 9.2 million, of which 1.4 million were Emirati citizens and 7.8 million were expatriates. As of 2020, the United Arab Emirates has an estimated population of roughly 9.9 million.
The UAE is known for its high standard of living and is a world class business hub for all types of businesses.
In order to attract businesses from around the world, UAE has put forth two types of business operation models:
- Mainland business model which allowsa foreign company or person to conduct business in the mainland of UAE with local people. In general, it is mandatory that 51% ownership of the business established by a foreign company/person is held by a local Emirati citizen. However, in certain sectors, 100% ownership can be held by foreigners.
- Free zone business models are those who do business globally and not with local people. One can own 100% ownership of the business. This free zone business model has become quite popular in recent years due to ease of doing business. There are also no corporate or individual business taxes.
As of today, there are 45 plus Free Economic Zones in UAE offering a variety of services and facilities to set up business in the UAE.
One such Free Economic Zone is Ras Al Kamiah. This economic zone has appointed our law firm – Prashant Ajmera & Associates (Ajmera Law Group)based in Ahmedabad, India, as their authorized service provider. This authorisation allows India based businesspersons to apply for registration of their company, obtain the necessary licensed permits and apply for business visa of UAE through our law firm, without the help of a local agent in UAE.
Freelance individuals, professionals, traders, businesspersons, manufacturers, IT companies and such other businesses can set up a business or register a company in the UAE.
Ras Al Khaimah Economic Zone (RAKEZ)
RAKEZ is a leading business and industrial powerhouse strategically located in the heart of Ras Al Khaimah, United Arab Emirates, which offers wide-ranging customisable solutions to investors from all over the globe. Presently, RAKEZ houses over 15,000 multinational companies from more than 100 countries covering over 50 industries, making it one of the largest economic zones in the region.
RAKEZ uniquely offers free zone and non-free zone entity formations, and provides its clients easy access to fast-growing markets in the Middle East, North Africa, Europe, South and Central Asia through the major logistical hubs available in the emirate. These include five seaports, an international airport and multi-lane superhighways.
The authority is a customer-focused entity offering cost-effective and efficient services. With its simplified business set-up processes, fast-track visa and licence issuance, and first-class services in one-stop shops, clients are ensured to experience complete ease of doing business with assistance every step of the way.
Committed to meet individual company needs, RAKEZ provides a variety of facility choices such as shared workstations, standard offices, serviced offices, executive offices, warehouses and land for development across specialised zones. These include Al Nakheel and Al Hamra Business Zones; Al Hamra, Al Ghail and Al Hulaila Industrial Zones; and RAKEZ Academic Zone.
In addition to a wide range of customisable solutions for existing clients and potential investors, RAKEZ offers far-reaching support with three local offices in Ras Al Khaimah, Dubai and Abu Dhabi, and international offices in India and Germany.
WHY SET UP A BUSINESS IN RAKEZ?
- Very strategic location. Within 4 hours of flight time, one can reach 31% of the world population and within 8 hours of flight time one can reach 76% of the world population.
- Vibrant marketplace and supply chain of 45,000 companies due to easy access to UAE ecosystem.
- Only 40 minutes from Sharjah airport and 70 minutes from Dubai airport. RAKEZ has an international airport and flights from India are due to start soon.
- International business standards and fast trade dispute resolutions.
- Choice of commercial dispute resolution under the UAE law or common law through DIFC courts.
- Easy access to a vast pool of talent.
- Substantial logistic advantage with four sea ports, international cargo airport, high speed highways and Etihad rail.
- One can register a free zone or a non-free zone company.
- 100% foreign ownership permitted in Free Economic Zone Areas.
- 100% foreign ownership permitted for manufacturing companies in Non-Free Economic Zone Areas.
- 100% repatriation of capital and profits.
- 0% corporate and personal tax.
- Only 5% Value Added Tax (VAT).
- 10% lower development cost than regional average.
- Upto50% lower business operating cost than regional average.
- Double Taxation Agreements (DTA) with 115 countries.
DOING BUSINESS IN RAS AL KHAIMAH IS AS EASY AS 1, 2, 3
- LICENSE ISSUANCE IN 1 DAY AND 3 DAYS FOR INDUSTRIAL CASES
- CUSTOMIZED SOLUTIONS AND PACKAGES
- ONE-STOP SHOP SOLUTION FOR ALL GOVERNMENT
NEEDS - TRANSPARENCY AT EACH LEVEL OF COMMUNICATION
COST-EFFECTIVENESS & OPTIMISATION
COST OF SETTING UP A BUSINESS – COST OF RUNNING A BUSINESS – LIVING COST IS 25% TO 50% LOWER THAN REGIONAL AVERAGE
DIVERSE LICENCE TYPES TAILORED TO FIT YOUR BUSINESS NEEDS
- Industrial – Manufacturing, importing, packaging and exporting products
- Educational – Opening an education-related institution or consultancy company
- E-commerce – Trading in goods and services via electronic means
- General Trading – Trading in multiple goods
- Commercial – Trading in services and goods
- Media – Operating media-related business activities
- Professional – For individuals who provide professional services
- Services – Conducting services or consultancies across any industry
- Freelancer – Professionals who provide freelance services
HIGHLIGHTS OF VARIOUS PACKAGES OF RAKEZ TO MEET YOUR NEEDS
- One UAE business visa package (commercial/services license) all inclusive @AED 17,785 = Rs. 391,270 (@ Rs. 22.00)
- E-Commerce- Zero visa package @AED 5,500. Provision to add commercial/services/media license (any 1 activity) @AED 5,000
- RAKEZ legal consultancy license starting @ AED 20,000 with two visas
- RAKEZ holding company package @ AED 10,535 with two visas
- RAKEZ general trading license @ AED 26,000and @ AED 17,721 for women entrepreneurs, with two visas
- Freelancers – 90 activities to choose from. Zero Visa @ AED 6000 for men and AED 3000 for women. One visa @ AED 12,810 for men and 10,196 for women
- Bank account opening, VAT registration services, accounting services and compliance services available at highly reduced prices
- If you register your business for 3 or 5 years, additional discount given for business registration fees
- Various office rental possibilities available – Virtual office, co-working office space, service office, physical office
INDIAN MULTINATIONAL COMPANIES WHO HAVE MADE RAKEZ THEIR HOME FOR GLOBAL EXPANSION
- Ashok Leyland (UAE): Ashok Leyland is one of the largest manufacturers of commercial vehicles, buses and trucks. A bus manufacturing facility is set up in Ras Al Khaimah (UAE).
- MothersonSumi Systems Ltd. (MSSL):This Indian company is one of the global leaders in the field of manufacturing automotive wiring harnesses. MSSL is set to produce a broad portfolio of products including wiring harnesses, rear view mirrors for passenger cars, injection moulded products and many more from its RAKEZ manufacturing unit, which are to be exported to Europe. MSSL has recently held a ground-breaking ceremony at RAKEZ Al Hamra Industrial Zone to mark the beginning of the construction of its factory which is presently being built on a land that stretches to over 21,000 m2. Once operational, the company will employ 600 employees.
- Bosco Aluminium & Glass Co. LLC: BOSCO is focused on modern specialized aluminium architectural products and is engaged in a gamut of activities ranging from design, engineering and installation of aluminium and glass envelope for beautifully crafted buildings.
- G.K. Wire Industries LLC:This company is involved in the manufacturing and fireproofing of metal doors, fence and barbed wire works, steel structures manufacturing, casting of non-precious non-ferrous metals, metal products coating.
- Metalfab Middle East FZ LLC:This company manufactures chemical injection packages which serve the purpose of injecting a precise and accurate amount of chemicals into a system with the required back pressure, either continuously or intermittently.
- Ocean Rubber Factory LLC: Ocean Rubber Factory is a leading supplier of technical rubber products. With over 700 employees across four countries and eight factories on two production sites, ORF supplies customers with innovative, quality solutions.
- Amber Packaging Industries LLC: Amber Packaging is one of the leading manufacturers in the UAE for tailor-made flexible packaging materials.
Dabur Naturelle : Dabur, a subsidiary of Dabur India, manufacturer of Ayurvedic medicines, opened its new factory in RAKIA, operating under the RAKEZ umbrella, as it found the facility to be best suited to its needs. Other attractive features were the competitive pricing and the facility of setting up labour accommodation within the factory unit. RAKEZ also acted as a single-window for all the company’s requirements, including all the government related requirements or approvals.
Mahindra Emirates Vehicles Armoring : Setup in 2010 in Ras Al Khaimah, it is a premium manufacturer of armoured vehicles. They manufacturer custom armored vehicles for variety of applications and are experienced in the fields of engineering, prototyping and manufacturing of armored cars and other armored vehicles.
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