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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.
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 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.
There are three main types of business licenses in Ras al-Khaimah: Commercial, Industrial, and Professional licenses.
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.
Yes, a foreigner can own 100% of a Free Zone business in Ras al-Khaimah.
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.
Violations of business registration laws can lead to penalties, fines, or even business closure, dependent on the severity of the violation.
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.
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.
