Within incorporation of company in the form of “RAK onshore company”, you can are required to make a choice of a license from the available couple of types of permitted licenses. Each onshore company must have a license which allows it to perform some certain pre-defined business activity within the license framework.
Whereby the business / company licenses are required for RAK onshore companies, RAK offshore companies, in its tern, do NOT require any of such business licenses.
The types of business licenses available and possible to receive for RAK Free Trade Zone onshore companies are as below. Please note that majority of licenses do not require any specific professional background or require very limited one.
|
Type of License |
Activities allowed within this license |
Number of permissible activities |
|
Commercial |
Import, export, distribution, warehousing of goods within limited number of goods |
2 different products or 7 similar products |
|
General Trading |
Import, export, distribution, warehousing of any goods permitted by law and not requiring any special permisisons |
Different products / activities with trading |
|
Consultancy/Services |
Any type of management, marketing, business, logistics, manufacturing or industrial consulting |
Up to 2 different consulting activities |
|
Industrial |
Import of raw materials, manufacturing / product processing, assembling, packaging and exporting of finished products |
1 product line |
The following rules / regulations shall be paid attention at in respect of applying for a business license in RAK free zone during a company incorporation process:
- Company license is a time-limited means this permit granted to a company to its activities within the free zone within the license validity period;
- Each license is valid for 1 year, starting from the date of company incorporation and issue, and must be renewed annually together with the company renewal;
- Submission of audit reports is a regularly a mandatory requirement for business license renewal;
- All free zone charges and rates are subject to intervallic revisions, and the licensed companies are informed of such revisions at the time of company and business license renewal;
- An applicant setting a company in UAE who is holding a UAE resident visa should provide a No Objection Letter from his existing sponsor in order to be able to set up a company in RAK;
- Applicants who would like to practice Consultancy License are required to provide the proof of academic qualifications and professional experience related to the area of consulting activity;
- Special activities such as, for example, related to handling hazardous materials, requires special approvals from free zone authority.
