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How to start a business in Ras Al Khaimah

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About Ras al Khaimah 

Ras Al Khaimah, the northernmost city in the United Arab Emirates (UAE), is a popular destination for foreign investors and tourists alike. Known for its Arabian beaches, the city attracts millions of travelers every year.

Foreign investors come to the city because of its free trade zone, which provides an array of tax incentives and lower overall costs of business operations. Its complete guide to know how to start a business in Ras Al Khaimah.

While starting a company in Ras Al Khaimah is most certainly advantageous, and overall, more cost effective ⎯ it is highly recommended that you utilize the services of a consultancy firm that can walk you through the complicated process of establishing the company.

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Business Setup in Ras al Khaimah

There are several paths you can take and the initial start-up and administration fees can get quite high if you are unsure of how to navigate. 

AYS Consultancy specializes in assisting both local and foreign investors and entrepreneurs in the start-up of their desired businesses within the UAE.

If you are looking to start a business in Ras Al Khaimah, our consultants have a great deal of expertise and can help you understand the options available to you, educate you on the pros and cons of each option, assist in selecting the right path for you, and complete the necessary steps to get up and running.

how to start a business in ras al khaimah

How to start a business in Ras Al Khaimah?

 

Choose A Business Activity/Sector

The first step of starting a company in Ras Al Khaimah is to select the type of business you want to run, as well as the industry that business is best suited for. Depending on the business activity you choose, there are varying fees and regulations associated with each one. Typically, business activities fall into the following categories:

Commercial

General Trading

Consultancy/Services

Industrial

Then, you will want to choose the industry with which your business will operate. Some of the more economically robust industries in Ras Al Khaimah include the following:

Industrial

Trade

Construction

Banking/Investment

Tourism

Agriculture

Service

Legal Business Structure

After deciding your business sector and activity, you will need to determine the legal business structure of your company. AYS Consultancy has trained professionals that can provide specific details, benefits, fees and regulations of each organizational structure. Investors are required to complete some additional steps here, and are urged to work with a professional that is knowledgeable about the specific stipulations.

Choose the Trade Name

Establishing the trade name for your business is a monumental and exciting step in the creation of your company. The completion of this step and initial approval of the trade name will speed up the rest of the process, acting as a gateway to finalize several other aspects of your business, such as selecting the location and moving forward to obtain a business license.

Government Approvals

In Ras Al Khaimah, there are several agencies you will need to go to and obtain the appropriate approvals throughout various steps in the process, such as the Monitoring & Consumer Protection Administration and General Directorate of Residency & Foreigners Affairs in the Department of Economic Development.

AYS Consultancy will ensure that you are aware of the various interested parties, and will ensure the approvals process is completed and satisfactory both to you and the concerned authorities. 

Attain Business License 

After you have received all of the required approvals and your trade name is established, you can proceed in obtaining your business license from the Department of Economic Development. 

Register a company

The List of business license available in Ras al Khaimah

Similar to the type of business activity, business licenses in Ras Al Khaimah are classified under the following:

Once you have obtained your business license, you will be able to begin operating under your registered trade name as a legal business entity in Ras Al Khaimah.

Why Use AYS Consultancy?

The government of Ras Al Khaimah, as well as experienced business owners in the region, strongly recommend that the process of establishing a business is facilitated by trained professionals. AYS Consultancy can facilitate this process for you and ensure that all of the required steps are completed and approved, empowering you to get started and generate revenue much faster. 

For more information on the services we provide, please contact us today or call +971 56 733 3358.