Detailed information on issues related to:
Dubai@Whatox.com | Concierge Business Consulting in Dubai and UAE | Your Path to Success in the Emirates!
- Company openings in Ras Al Khaimah (RAK), UAE
- Possibilities of hiring an individual as a company staff member
- Opening a bank account
- Obtaining an ID (Residency) Card
- Approximate cost and terms
Information about Ras Al Khaimah Emirate(RAK), UAE
1. Opening a company in RAK (UAE)
1.1 Types of Companies in Ras Al Khaimah
- RAK Free Zone (RAKEZ): allows you to conduct business within the UAE and internationally, and obtain resident visas (including visas for employees and founders).
- RAK Offshore (RAK ICC): a classic “offshore” structure without the right to conduct commercial activities within the UAE, intended primarily for international holding and international business.
The most popular option for those who plan to have a physical presence in the UAE and obtain a residence visa is RAKEZ Free Zone.
1.2 Benefits of setting up a company in RAK
- Tax incentives: There is no personal or corporate income tax in the UAE (with the exception of a corporate tax introduced in 2023–24, but for small and medium-sized companies the tax burden is often minimal or absent, subject to certain conditions).
- 100% Foreign Owned Business (no local sponsoring partner required).
- Opportunity to receive resident visa, which gives the right to reside in the UAE and receive Emirates ID (UAE Resident ID Card).
- Convenient and fast opening of an account in local banks (with the correct structure and prepared documents).
- An authoritative jurisdiction with a good image.
1.3 Cost and terms
- Company registration: The basic package in RAKEZ usually starts from around 4,000–5,000 USD (can reach 7,000–10,000 USD depending on the license, number of visas, type of office, etc.).
- Registration deadline: from 5 to 15 working days, subject to a complete package of documents and correct submission.
- Obtaining a Resident Visa: additional ~2,000–3,000 USD (may vary) per applicant, including medicine, Emirates ID, visa stamping in the passport. The term is about 1–2 weeks after the company registration.
Please note that the exact cost depends on the specific service package, type of license (commercial, consulting, service, etc.), number of founders, need to rent a real office, etc.
2. Registration of an individual on the company's staff
If you want to officially be listed as an employee the company you (or we) created, receive salary to a bank account, then the standard mechanism is as follows:
- The company is registered in a free zone (for example, RAKEZ).
- You get resident visa (for this company).
- After receiving the visa, the Emirates ID (Resident ID card).
- Opens personal bank account in the UAE (for a resident individual).
- The company transfers your “salary” to your personal account every month.
The “I pay and the company transfers it to me” option
- This is practically possible if you contribute funds (for example, as a contribution to the authorized capital or replenishment of the company's account). Then the company officially transfers the money to you as a salary.
- In terms of compliance with local laws, it is very important to correctly process transactions and accounting (official contracts, payment orders, reason for transfer).
- The company can be under your full control (you are the owner and director), or under the control of a trusted structure.
Price such support (bookkeeping + payroll administration) can be included in the monthly service package (depending on the provider):
- The average range is ~300–500 USD per month for servicing a company if the business is not actively trading (the so-called “holding/consultancy”).
- If the company is active, conducts trade, and makes payments to counterparties, the amount may be higher.
3. Opening a bank account
3.1 Bank account for the company
- After registering a company in RAKEZ, an application is submitted to open an account in one of the local or international banks (Emirates NBD, RAK Bank, Mashreq Bank, ADIB, CBD, etc.).
- Banks request a standard package of documents: company incorporation documents, business plan/description of activities, copies of founders’ passports, resident visas, etc.
- Review period: from 1 to 4 weeks (depending on the bank’s policy).
3.2 Personal account (for an individual)
- Opening already after receiving a residence visa and Emirates ID.
- The term is usually faster – from 3 to 14 working days, if all documents are in order.
- To open a personal account, it is important to show the source of income (in this case, an employment contract with the company).
4. Obtaining a residence visa and Emirates ID
4.1 Stages of obtaining
- Electronic Entry Permit (Entry Permit) for a resident visa.
- Passing a medical examination (blood tests and fluorography).
- Apply for Emirates ID (biometrics).
- Visa Stuffing in the passport.
4.2 Cost and terms
- Usually ~2,000–3,000 USD (includes government fees, medicine, ID, visa).
- Duration: 1–2 weeks from the start of the procedure.
5. Conditions and approximate scheme of our cooperation
If you want to delegate the whole process for us "turnkey":
- We design for you company in RAK (we will agree with you on the type of license, name, type of activity).
- We help prepare a complete package of documents for opening a corporate account (we provide consultations, fill out forms together, and provide a local address if necessary).
- We are in the process of obtaining resident visa (Entry Permit, medical examination, Emirates ID).
- We help with opening personal account (to an individual) in a bank.
- We provide a service nominal address or office (if required).
- We are implementing accounting support and we form monthly “salaries”/dividends according to your request.
Cost of the turnkey package approximately includes:
- Company registration (license + initial fee free zone).
- Resident visa (1 person) + Emirates ID.
- Accounting services (3-6 months).
- Full support and consultations.
Range can be from 8,000–10,000 USD and higher (depending on the package, number of visas and complexity of the structure). The exact amount is calculated individually.
We will be happy to help and provide a detailed estimate and work schedule!
- Open a company in RAK possible within 2-3 weeks.
- Apply for a resident visa And Emirates ID – another 1–2 weeks.
- Open a corporate and personal account – from 2 to 6 weeks in total, with correct documents.
- The entire turnkey service package starts at approximately USD 8,000–10,000 (including company registration, visa for one person, and the first months of service).
If you have any additional questions about specific costs and conditions (including your employment with the company and monthly “salary”) email us dubai@whatox.com.
We can customize the package to suit your needs (number of visas, timeframes, scope of support, etc.).
Below is an approximate estimate of the number of days (working days) for all the main stages of opening a company in RAK and obtaining a resident visa / Emirates ID.
1. Company registration in RAK
- Collection of documents, coordination with the client, filling out forms, submitting an application: ~2 days
- Interaction with Freezone (RAKEZ), clarifications, obtaining certificates: ~1–2 days
Total for this block: approximately 3-4 days (they can be spread over 1–2 weeks according to the calendar, but the actual “working” days of consulting will be around 3–4).
2. Obtaining a visa and Emirates ID
- Applying for an Entry Permit, coordination with PRO/agent, obtaining electronic permit: ~1 day
- Medical examination, biometrics on Emirates ID, stamping visas into passport: ~1–2 days, including accompanying services, appointment for examination, etc.
Total for the visa/ID block: approximately 2-3 days (again, it’s spread out over time, but in fact there are about 2–3 active days of work).
3. Opening a bank account (corporate and/or personal)
- Preparation of a set of documents (incorporation, KYC, business plan, statements): ~1 day
- Filling out bank forms, accompanying meetings at the bank, communicating with the bank: ~1–2 days
- Sometimes banks request additional documents, which may take another day.
Total: 2-3 days active work (they can be “smeared” over several weeks of waiting for the bank’s response).
4. Additional admin/concierge services
- Organization of meetings, logistics, translation, additional consultations regarding the nuances of accommodation, office/address rent, accounting, HR: ~1–2 days (depending on the volume).
Final score by day
To summarize the above stages:
- Company registration: 3-4 days
- Visa/Emirates ID: 2-3 days
- Opening an account: 2-3 days
- Additional services: 1-2 days
On average it turns out 8-12 business days pure consulting/support, if the client needs the entire chain "turnkey". The number of days depends on how many tasks the client assigns to you (for example, if he goes to the medical examination himself without support, this will reduce the number of your actual days worked).
Calculation based on daily rate 2000/day for consulting services.
- 8 days x 2000 AED = 16,000 AED
- 12 days x 2000 AED = 24,000 AED
So you can target the range 16,000–24,000 AED for consulting services (excluding direct government fees, the cost of the license itself and other official payments).
Important: These calculations are a guideline. The actual number of days may vary depending on the speed of the client in providing documents, the specifics of the bank, Free Zone, etc. We can offer the client a package with a fixed amount or work on a "payment upon completion of the days worked" model with periodic reports on the tasks completed.
RAKEZ gives you the opportunity to open a turnkey company, obtain a resident visa, Emirates ID and work both in the UAE (with restrictions depending on the license) and abroad. The main thing is to understand the document requirements, deadlines, budget and tax aspects in advance. Clients wishing to open a company in RAK should be aware of license type, visa process (and getting Emirates ID), office requirements, bank account And annual fees.
Q&A (question and answer), focused on company registration in Ras Al Khaimah (RAK) and related aspects (visas, Emirates ID, etc.).
1. What type of company can be opened in RAK?
Answer: Basically, it is a free zone company (RAKEZ). There is also RAK ICC (offshore) – an offshore structure without the right to operate within the UAE. But if physical presence, a residence visa and work in the UAE are required, RAKEZ (free zone) is chosen.
2. Is a physical office required in RAKEZ or is a virtual one sufficient?
Answer: RAKEZ offers several package options (Flexi-desk, Shared Office, Executive Office). For most companies (consulting/services) Flexi-desk is sufficient – this is the minimum requirement of the free zone for “office” space.
3. What are the main documents required to register a company in RAKEZ?
Answer:
- Passport of the founder(s) + color copy;
- International passport (if any) and/or ID (if available);
- Resume/brief description of experience or LinkedIn profile;
- Proof of residential address (utility bill, bank statement);
- Completed RAKEZ forms (registration application, business plan if necessary).
The free zone may request additional documents depending on the type of activity.
4. How long does it take to register a company in RAKEZ?
Answer: Usually from 5 to 15 business days. The period depends on the timeliness of submission of all documents, the selected package, as well as the speed of review by RAKEZ.
5. Is it possible to get a residence visa through RAKEZ and how is it related to Emirates ID?
Answer: Yes, by opening a company in RAKEZ you are eligible to obtain a resident visa (Investor / Partner / Employment). Once you receive the visa, you apply for Emirates ID – This is the identity card of a UAE resident.
Process (in simplified form):
- Obtain an Entry Permit (electronic entry permit);
- Pass a medical examination and biometrics;
- Obtain a visa in your passport (Residence Permit);
- Emirates ID is issued.
6. How long does it take to get an Emirates ID?
Answer: After the Entry Permit is issued and the medical examination is passed, usually 1-2 weeks. Sometimes faster, sometimes a little longer (depending on the workload of the immigration authorities).
7. Do I need to be permanently present in the UAE to keep my residence visa active?
Answer: To maintain a residence visa, it is usually important not to be absent from the UAE for more than 180 consecutive days. Otherwise, the visa may be cancelled.
8. How to open a bank account for a company in RAK?
Answer: First, you need to register the company and obtain the constituent documents. Then, a package is prepared for the bank (copies of passports, charter, license, business plan, etc.). In some cases, banks require the manager/owner to have a resident visa and Emirates ID. Once the application is submitted, the review may take from 1 to 4 weeks.
9. Is authorized capital required in RAKEZ?
Answer: In most cases, the free zone does not ask for an actual deposit and freezing of the authorized capital (for example, 50,000 AED), as is done in some jurisdictions. Formally, the capital is specified in the memorandum of association, but a deposit is not always required. It is better to clarify specifically for the selected package.
10. Is it necessary to keep accounting records and submit an audit to RAKEZ?
Answer: RAKEZ until recently did not require strict reporting and auditing for small companies. However, given the new requirements for corporate tax and Economic Substance Regulations, the situation may change. In some cases (especially with large turnovers) an audit may be necessary.
11. Is it possible to sponsor a family (spouse, children) through a Rakez visa?
Answer: Yes, if you have a valid Investor/Employment visa, you can apply for Family Visa sponsorship. To do this, you need to prove your income/salary, have a rental agreement, etc.
12. How are things with taxes?
Answer:
- Personal income tax: not available in UAE.
- Corporate tax: From 2023-2024, a 9% tax was introduced on profits exceeding AED 375,000. For small turnovers (below AED 375,000), you can remain at the 0% rate.
- VAT: 5% for certain activities if the company's turnover exceeds a threshold (approximately AED 375,000 per year).
13. How much does it cost to register a company in RAKEZ?
Answer: Starter packs (license + Flexi-desk office option) usually start from 3,500–4,000 USD and higher. The exact price depends on the type of activity, number of visas, need for a real office, etc.
14. What are the annual expenses?
Answer: Main – annual license renewal (often around 3,000–4,000 USD for the basic option). If a visa is needed, you also pay for its extension (every 2–3 years, depending on the type of visa). Plus, possibly, the costs of accounting/auditing, if this is a requirement of the free zone or bank.
15. What is the main advantage of RAK over other emirates?
Answer:
- Usually lower cost registration and renewal compared to Dubai or Abu Dhabi.
- Quite fast and a simple registration process.
- Opportunity to obtain a residence visa and access to UAE banks.
Ras al-Khaimah (RAK) is one of the seven emirates that make up the United Arab Emirates (UAE).
It is located in the north of the country and is known for its picturesque landscapes, including mountains, deserts and the Persian Gulf coast. Here is some information about Ras Al Khaimah:
Key facts:
- Capital: Ras Al Khaimah City.
- Population: About 300,000 people.
- Square: Approximately 1,684 km².
- Geography: The emirate borders Oman to the south and has a long coastline.
Economy:
- Tourism: Ras Al Khaimah is actively developing the tourism industry, offering beach holidays, mountain excursions, spa resorts and historical attractions.
- IndustryThe emirate is home to cement factories, ceramic factories and other industrial facilities.
- Agriculture: Due to the fertile soil and water resources, dates, vegetables and fruits are grown here.
Attractions:
- Jebel Jais: The highest mountain in the UAE, popular among hikers and outdoor enthusiasts.
- National Museum of Ras Al Khaimah: Situated in an ancient fort, the museum tells the story of the history and culture of the emirate.
- Al-Hamra: A traditional village where you can get acquainted with the local architecture and way of life.
- Beaches: Clean beaches with white sand attract tourists for relaxation and water sports.
Climate:
- The climate in Ras Al Khaimah is hot and dry. In summer, the temperature can reach 40-45°C, and in winter it drops to 15-20°C, making this time of year the most comfortable for visiting.
Transport:
- The emirate has an international airport that serves both domestic and international flights. There is also a well-developed network of roads connecting Ras al-Khaimah with other emirates.
If you need more specific information, please clarify your request! 😊
