The RAK Maritime City has recorded phenomenal growth over the last decade and the Free Zone is now among the top suppliers of construction materials for the majority of major real estate projects in the UAE, GCC and beyond. The Free Zone’s deep-water port has a cargo handling capacity of over 100 million tonnes annually and it has several million square meters of available land, complete with waterside access.
A Quick Overview of the Facilities at RAK Maritime City
The Rak Maritime City operates both as a free zone and as a port of international standards. The Free Zone offers a cost-efficient and secure option for companies and impressive customer service. It attracts investors from across the world with its state-of-the-art industrial and maritime complex, efficient logistics and industrial infrastructure and other world-class facilities. The RAK Maritime City is zoned into plots that cater to the needs of businesses related to retail, warehousing, general cargo handling, and industrial production and manufacturing, shipbuilding/repairs.
Benefits of Setting up A Business in RAK Maritime City
RAK Maritime City’s strategic location is the most important advantage that business owners can have while setting up a company here. The Free Zone enjoys close proximity to the Saqr Port, which is the largest bulk commodity port in the Middle East. The Free Zone is adjacent to the RAK International Airport and provides excellent local access to the UAE’s road network. Establishing a company in the RAK Maritime City can also provide investors with the following benefits:
- 100% Foreign Ownership
- Long and stable lease agreements
- Customised plot sizes to meet business requirements
- Easy and cost-efficient business setup procedure
How to Establish a Company in RAK Maritime City?
A company or individual wishing to operate a business at the RAK Maritime City can be registered at the zone in one of the following four legal forms:
- Free Zone Establishment
- Free Zone Company
- Local Branch
- Foreign Branch
Companies that seek to start their operations in the RAK Maritime City are required to
- Register as a legal entity at the RAK Maritime City
- Obtain a valid permit to undertake approved activities
- Sign a lease contract for using the selected facility at the RAK Maritime City
Once all of these procedures have been completed successfully, the company will be entitled to activate a bank account, apply for the approved number of visas (UAE residence permits) and to start business activities in the RAK Maritime City.
List of Documents Required to set up Businesses in RAK Maritime City
- License Application Form
- Brief Project Description
- Copy of Passport (Owner(s) / Manager)
- Bank Statement (proving a minimum account balance as per the capital requirement)
- Company Resolution (for FZ Company)
- Power of Attorney Appointing a Representative / Manager (for FZ Company)
For local and foreign branches the following additional documents are required:
- Power of Attorney Appointing a Representative / Manager
- Parent Company’s Board Decision to Set Up a Branch
- Good Standing Letter
- Parent Company’s Legal Documents
- Registration Certificate of parent company
However, the Parent Company should have existed for more than one year (also applicable to Subsidiary Company). Local branches are required to present all documents as originals and attested by the UAE court. It is also important to note that all documents related to a foreign branch need to be attested by the UAE Embassy.
In the case of Industrial License, a special application form must be submitted along with the following documents:
- Business Plan
- Plant Layout
- Material Storage and Handling
- Feasibility Study
- Environmental Impact Assessment Study
- Equipment List
- Detailed Process Description
- Effluent Treatment and Waste Management
- Power and Water Requirements
Business Setup Consultants in RAK Maritime City
Jitendra Business Consultants (JBC) provides efficient end-to-end solutions to companies that seek to open a company in the RAK Maritime City. JBC’s business setup consultants offer reliable and efficient services to business people seeking to invest in RAK Maritime City, be it a new company or local and foreign branches of companies. JBC’s highly experienced team of business setup consultants has helped thousands of clients easily sail through all the procedures of business formation, from obtaining licenses to company incorporation.