Securing a legal business license is a necessary condition for starting a firm and doing business in the lively environment of the United Arab Emirates. In the picturesque emirate of Ras Al Khaimah, the process of setting up a company involves acquiring an emirate-specific business license tailored to your specific requirements. Whether you’re a startup, an existing firm wishing to grow in Ras Al Khaimah, or an entrepreneur looking to diversify your products and services under a single corporation and operate countrywide, there are licenses available that cater to a wide range of commercial operations.
Types of Trade Licenses in Ras Al Khaimah Economic Zone
Here are the main types of trade licenses that Ras Al Khaimah Economic Zone are:
- Industrial Licnese: This license covers a wide range of operations such as manufacturing, processing, assembling, and packaging.
- General Trading License: This license is intended for companies that participate in a variety of trading operations, such as import, export, storage, and distribution.
- Trading License: Trading licenses encompass activities related to import, export, distribution, warehousing, and various trading operations.
- Media License: A media license covers a wide range of media and communication services.
- Commercial License: Contracting, repairing, maintaining, renting, and running stores and restaurants are all examples of commercial license activities.
- Consulting/Service License: This category includes any business, management, or industrial advice, or expert assistance, including real estate consulting.
Application Procedure for Trade License in Ras Al Khaimah
Obtaining a commercial license in Ras Al Khaimah entails many critical stages to guarantee your firm meets all legal requirements: Business Type Selection: Determine if your company is commercial, professional, or industrial.
- Activity Specification: List up to ten particular business activities that are covered by the selected license type.
- Trade Name Selection: Choose a distinct and appropriate commercial name for your company firm.
- Initial Acceptance: Obtain preliminary permission from the RAK Department of Economic Development (RAK DED).
- License Approval and Modifications: The RAK licensing authority examines the license specifications and, if necessary, makes adjustments or additions.
- Payment Allocation: Receive the payment voucher for the applicable fees.
- Payments and Documentation Distribution: After paying the cost, you will obtain the official business license and trade registration certificate.
This methodical approach assures the legal creation of firms in Ras Al Khaimah, while also offering clarity and openness throughout the licensing process.
Document Required for Trade License in Ras Al Khaimah
To obtain your Ras Al Khaimah trade license, you must provide the following documents:
- Passport Size Photograph
- Passport Copy of the Shareholder
- Company Trade Name Option
Please note that the business license is valid for one year and must be renewed after the expiry to maintain legal compliance.
Cost of a Ras Al Khaimah Trade License
The cost of getting a trade license in Ras Al Khaimah varies and is determined by a variety of criteria, including the kind of license and the nature of the proposed business operations. The following are the estimated ranges for RAK trade license fees:
- For Trading License: AED 10,000 to AED 20,000 per year
- For Media License: AED 10,000 to AED 20,000 per year
- For General Trading License: AED 10,000 to AED 20,000 per year
- For Consulting/Service License: AED 10,000 to AED 20,000 per year
Renewal of Trade License in Ras Al Khaimah
Renewing a company license in Ras Al Khaimah is a structured process that involves the following steps:
- Valid Lease Agreement: Ensure you have a valid lease attested by Ejari for at least one month.
- Application Submission: Apply for license renewal at Ras Al Khaimah Department of Economic Development (RAK DED) by submitting all required documents.
Documents Needed for License Renewal in Ras Al Khaimah
You will need the following papers to complete the renewal process:
- Tenancy Agreement, Typed BR/1 Form, and Ejari Registration Certificate: A completed BR/1 form, a copy of the tenancy agreement, and an Ejari registration certificate are required papers.
- Current Business License Copies: Please provide a copy of your current business license for verification.
- Copies of Shareholders’ and Business Partners’ Passports: Include copies of each shareholder’s and business partner’s passports affiliated with the company.
Conclusion
Receiving a trade licence in Ras Al Khaimah (RAK) is a critical first step for any business looking to expand into this thriving emirate of the United Arab Emirates. RAK provides a conducive business environment, with access to international markets, a strategic geographical location, and a supportive regulatory framework.
OnDemand International is critical in making the process of obtaining a trade licence in RAK easier. They provide expert advice and comprehensive support throughout the licencing process as a professional consultancy service. Their services are likely to include paperwork assistance, legal compliance advice, and assistance in navigating the administrative procedures of RAK’s economic departments and free zones. OnDemand International can assist businesses in efficiently handling the complexities of licencing by leveraging their local expertise and relationships, allowing them to focus on their core operations and growth strategies.
FAQs
How much time does it take to get a trade licence in Ras Al Khaimah?
A trade licence application in Ras Al Khaimah typically takes 10-15 working days to process.
What are the requirements for renewing a trade licence in Ras Al Khaimah?
Ras Al Khaimah trade licences must be renewed on an annual basis. The renewal process is similar to the application process in that you must submit an application form and pay the appropriate fees.
Who requires a trade licence?
Any commercial activity in Ras Al Khaimah necessitates the acquisition of a trade licence. This includes all sizes of businesses, from sole proprietorships to large multinational corporations.