About Business Registration Law in Ras al-Khaimah, United Arab Emirates
Business registration in Ras al-Khaimah, United Arab Emirates is a crucial step in setting up a business in this region. It is governed by precise regulations, rules, and procedures implemented by the Ras al-Khaimah Economic Zone (RAKEZ). It encompasses several aspects such as trade licensing, compliance with local and national laws, submission of required legal documents, and more.
Why You May Need a Lawyer
Legal help might be required to ensure that all the procedures are done correctly and in compliance with local laws. Businesses might encounter complex situations such as documentation of foreign ownership, managing legal agreements with local partners, acquiring special permits or licenses, dispute settlement, etc. In such cases, a lawyer could provide valuable guidance to prevent legal complications, saving time and money in the long run.
Local Laws Overview
Local laws in Ras al-Khaimah primarily mandate that businesses obtain a license, which correlates to their specific type of business activity. There are also laws regarding foreign ownership, where a local sponsor who holds 51% of the shares is required for mainland companies. Free Zone businesses, on the other hand, can be 100% foreign-owned. The laws also cover various aspects from employment regulations to environmental requirements.
Frequently Asked Questions
What types of business licenses are available in Ras al-Khaimah?
There are three main types of business licenses in Ras al-Khaimah: Commercial, Industrial, and Professional licenses.
What is a local sponsor and why might I need one?
A local sponsor is a UAE national who acts as a representative of your business in legal dealings with government departments. If you're establishing a mainland company, local laws require a local sponsor who holds at least 51% of the shares.
Can a foreigner own 100% of a business in Ras al-Khaimah?
Yes, a foreigner can own 100% of a Free Zone business in Ras al-Khaimah.
What are the main documents required for business registration?
The documents required vary based on the type of business and license but generally include a passport copy of the shareholders, business plan, and initial approval from the licensing authorities.
What happens if I violate the business registration laws?
Violations of business registration laws can lead to penalties, fines, or even business closure, dependent on the severity of the violation.
Additional Resources
The Ras Al Khaimah Economic Zone (RAKEZ) provides a comprehensive guide to business registration and other business-related regulations. The UAE Ministry of Economy and the UAE Government's official portal also have valuable resources.
Next Steps
If you need legal assistance for business registration in Ras al-Khaimah, it is recommended to seek out a licensed local attorney who specializes in UAE business laws. They can provide personalized guidance tailored to your business needs, helping ensure a smooth registration process and compliance with all relevant laws.
Lawzana helps you find the best lawyers and law firms in Ras al-Khaimah through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Business Registration, experience, and client feedback.
Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters.
Get a quote from top-rated law firms in Ras al-Khaimah, United Arab Emirates—quickly, securely, and without unnecessary hassle.
Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation.
We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please
contact us, and we will review and update it where appropriate.
