Major benefits of incorporating inside a free trade zone, as opposed to on the UAE’s mainland. However, in brief the companies are entitled to 50 years of zero corporate tax while still being entitled to repatriate the entirety of their profits to a destination of their choice. They also needn’t take a local partner, who must own 51% of the shares, in this case. Today we’ll look at the benefits and procedures of incorporating in the Ras Al Khaimah Free Trade Zone (RAK FTZ).
- This free zone is a cost-effective and straightforward option for creating a business base in the UAE – previously winning awards for its services.
- Ras Al Khaimah is just over an hour away from Dubai. In addition to full ownership and zero customs duty or taxation, there are no restrictions on labour or currency use.
- There are a number of different support and satellite offices throughout the rest of the country.
- The anticipated time-frame needed to complete the entire incorporation process, which includes establishing share capital in the bank and obtaining a lease to an office that is registered with authorities, should take between three and four weeks.
Choosing the right freezone to begin your business transactions from could be a crucial cornerstone of business.