A Business Trade License in Ras Al Khaimah, UAE, is a mandatory document for legally operating a business within the jurisdiction. It is issued by the Department of Economic Development in Ras Al Khaimah and includes details like the type of permitted business activities, the company’s legal status, and its registered address.
Types of Trade Licenses in Ras Al Khaimah
- Industrial Licensing: For production, handling, assembly, wrapping, and so on.
- Trading License: For importing, exporting, distributing, warehousing, and trading of goods.
- Media License: For media and communication services like printing, publishing, and advertising.
- General Trading License: Combines industrial and trading licenses for multiple trading activities.
- Commercial License: For tasks such as leasing, maintaining, repairing, and contracting for stores, eateries, etc.
- Consulting/Service License: For professional services, business, industrial consulting, or management.
Benefits of Trade License in Ras Al Khaimah
The list of benefits of a trade license in Ras Al Khaimah are:
- Access to Large Market: A trade license lets a company reach more customers and sell to more people in the UAE and other countries.
- Simplify Company Formation Process: Business License simplifies the company registration process in Ras Al Khaimah.
- Financing: Ras Al Khaimah business license helps you to request banks and Financial Institute for financing business activities.
- Credibility: A business License helps in building a professional image of a firm in the corporate world.
Trade License Fees in Ras Al Khaimah
- Industrial License: AED 12,000 to AED 25,000 per year
- Trading License: Between AED 10,000 to AED 20,000 annually
- General Trading License: AED 20,000 to AED 35,000 per year
- Commercial License: AED 5,000 to AED 15,000 per year
- Consulting/Service License: Between 10,000 to 25,000 AED annually
- Media License: AED 25,000 to AED 50,000 per year
Documents Required for Ras Al Khaimah Trade License
The list of documents required for a Business License in Ras Al Khaimah
- Completed license application
- Copy of the family book, passport, and national identification card for UAE citizens
- Certification of the lease agreement was rendered by a notary public.
- Certificate of trade name
- Photocopy of certified tenancy contract
- Service Agent Contract approved by the Legal Affairs Section
- Certified No-objection letter, copies of a foreigner’s visa, passport, or proof of residency
- Technical Evaluation Report
- Departmental authorization of the government, if necessary
- Ownership Certificate or Land Map
- Approval of other governmental authorities, if needed
Renewal of Trade License in Ras Al Khaimah
- Have a valid lease for at least one month confirmed by Ejari.
- Apply for license renewal at RAK DED with all necessary paperwork.
- Pay the fees upon receiving a payment voucher from DED.
Documents Required for Renewal of Business License in RAK
- A copy of the tenancy agreement and an Ejari registration certificate are required.
- A copy of the current business license
- A copy of each shareholder and business partner’s passport
- A typed BR/1 form
Conclusion
In Ras Al Khaimah (RAK), getting a trade license is a must for businesses that want to do business there. Companies with this license are legally allowed to do business, and it comes with a lot of benefits, such as access to local markets, tax breaks, and chances to get visas sponsored.
Applying for a business license in RAK can be hard and takes a lot of time, especially if you don’t know the rules and procedures of the area. What OnDemand International does is help with this.
In the UAE, OnDemand International is one of the best companies for setting up businesses and giving advice. They have a lot of experience helping businesses get trade licenses in RAK, and they offer a wide range of services that can help you get through the process quickly and easily.