Free zone is an area inside a country where the imported items are gathered and processed without the payment of duty. Free zone is also known as free trade zone, bonded warehouse or free port.
A free trade zone is often link to a sea or an airport. The United Arab Emirates provides with a number of extremely popular free zones notably the emirates of Ajman and Ras Al Khaimah.
Steps for RAK Free Zone Business Setup
The United Arab Emirates has always been an appealing destination for business tycoons from all over the world. It offers low taxes and a critical location in the world’s biggest and fastest developing markets. The government is also interested to support the business.
Free zone business can be done in various sectors such as education, media, service, industrial sectors and commercial.
- Choose your activities. The main step in setting up a business in Ras Al Khaimah is to choose your business activities. Ras Al Khaimah Economic Zone can be applied to various activities comprising education, media, service, industrial sectors and commercial.
- Name of company. The second step is to choose the name of a company. When thinking of a company name, be very careful. The name should be offensive or should not have any relation with the religion or blasphemy. If you want your name to be in the company’s name, then write your full name, instead of writing the initials or the surname. Make sure that the company name you have selected can be easily registered.
- Apply for license. After choosing a name for your company, the next step you should do is to apply for a license. The documents you need to submit when applying for a license are.
- Application form
- Business policy
- A color photograph
- A copy
of your passport.
for visa. The last step is to apply for a visa. The process to apply
for a visa in Ras Al Khaimah Economic Zone (RAKEZ) is as follows.
- Application for establishment card
- After receiving the establishment card, register for eChannel
- After applying for eChannel, appeal for permit of entry
- When the entry permit is issued, you need to give your medical test and the application for Emirates Identity
- Then you should get a stamp on residency passport