3 Incredible Advantages to Start Business in RAK

Formerly RAKFZ and RAKIA, RAKEZ now covers the former entities, Ras Al Khaimah Free Zone and Ras Al Khaimah Investment Authority, unified into one structure to efficiently oversee its clientele, administration and operations throughout all its districts. Awarded as the UAE’s most cost effective free zone by the by the FDI Global Free Zones of the year Awards in 2017, RAK makes an excellent option for entrepreneurs and investors with limited budgets to start a business setup in UAE. But aside from cost advantage, RAK also benefits from a highly strategic location and lucrative incorporation timeline.

Advantages

Over many similar zones in UAE and across the world, RAKEZ Enjoys a unique cost, location and setup advantage. Here is why investors prefer RAK as their business setup location.

Low-Cost Provisions

·         Offering preinstalled, customization structures and Tailored solutions for warehouse provisions

·         Ideal for manufacturing, trading, assembly, storage, and transport

·         Tiered packages include insurance, peripheral and utility services and security

·         Onsite accommodation benefit for laborers with affordable manpower for hire

Location Advantage

·         Multi lane superhighway networks and logistical hubs connected diversely

·         Local and international market access in regions such as Middle East, Europe, North Africa and Asia

·         Easy for transporting fright through multiple sea ports, airports and metro networks

·         Premier locations, top class amenities with variety of land sizes for purchasing

·         Benefit to build or rent accommodation space on-site for laborers

Setup Advantages

·         Easy 3 step incorporation process, fast business license delivery and walk-in work space

·         Abundance of experienced and certified consultancy agencies in UAE 

·         Fast registration for legal structures including, RAK free zone business setup, RAK offshore company setup, and non-free zone in specialized businesses in segregated zones

·         Affordable payment plans with flexible leasing options for properties and offices

Serviced Offices Dubai

Location for any business really matters and primarily a success factor for business. It basically tells you about the standard of any business or in other words it is considered as the reflection of any business. It is necessary for serviced firms to get a location where there is an ease of access for clients and customers, which ultimately create a good impression before acquiring services. So it is very vital for such business to set up their operations at good location.

Renting a location for business gives you the opportunity to get such good locations for your operations and because of flexibility in this option you can switch your location and can find a better place where chances of capturing more market share becomes optimized. If you own a place then you are bound to do business at that location even though that place get saturated but in renting offices you can avail the opportunity of appealing and attractive location for your business.

Sometimes you get a very reasonable location which is often furnished and have the professional set up for smooth operations of your business. The rental business sometimes also provide you with office manager which takes care of internet, office equipment, phone line which also consumes time and distract you from your primary objective. These rental services help you to concentrate on your business operations.

 

 It is an important for any service provider business to decide whether they need to own a location or get an exotic location for their operations on rent. Rental service providers also helps you in maintaining the office which reduces your time waste on these factors and you can actually focus on your business operations. The rental offices basically facilitates you to run your business smoothly without getting distracted by the above mentioned factors. So by summarizing the whole above discussion rental offices make your business simple and headache free.

Get a LLC for Your Business

How Do You Get a LLC for Your Business?

Forming an LLC is often not as difficult as perceived by most entrepreneurs and investors.

1. Deciding a Name for LLC
First off, you must a choose a suitable brand name for your LLC. All the LLC rules of the zone must be carefully complied when choosing the name of your company.
·         Although the requirements differ from state to the other state, generally:
·         The name must be unique and dissimilar from an existing LLC.
·         The name has to end with “Limited Liability Company or any of its abbreviations such as LLC, LC, Ltd or Liability Co.
·         Certain names prohibited by the state must not be used in the LLC’s name such as Bank, Corporation, Insurance, City or State.
·         The name does not violate the Trademark Law laws by violating the intellectual property of some other existing LLC

2. Creating Articles of Organization
Once the name has been secured, the next move is to file “articles for organization” through the LLC filing office. The term article of organization is often regarded as “certificate of formation”. This is where the legal process of the organization starts to kick in.
A slight disadvantage during this process is that the owner pays a fee when submitting your company’s article of formation. These fees are moderated by the countries laws, however, the zones can charge according to their own specific preferences. The LLC company setup fees will be renewed each year. In the articles, the owners and co owner names, LLC name and addresses.

3. Forming an LLC Operating Agreement
An LLC operating agreement has to be drafted through the LLC filing office, where the owner must set out
Percentage interest of the members
The rights and responsibilities of members
Visiting power of vendors
How the LLC setup will be managed?

4. Start Publishing a Notice
Now that your company is official, a letter must be published to a local newspaper confirming the LLC formation. This will be repeated for a couple of weeks until you are eligible to submit an affidavit of publication to the LLC filing office.

5. Start Business
Now your LLC is open to business and can run its operations freely according to the state’s laws.
“We must all obey the great law of change. It is the most powerful law of nature.” — Edmund Burke

Small and Medium Enterprises in Dubai

Small to Medium Enterprises or SMEs are business entities defined by their size and capacity. The elements that define these metrics can be categorized based on the number of employees, assets, gross revenues or mixture of one or more. These factors are further associated with the type of industry the company operates in. We will discuss how business setup in Dubai is facilitated with the help of UAE’s laws.

Why SMEs are Important to Economies

All and all, SMEs contribute a major percentage, making up majority of businesses in most economies. As an international hub bustling with business activity, Dubai is a renowned destination for entrepreneurs and investors from all around the globe. Sound policies, incorporation benefits and tax free zones are among the major attractions for SMEs in this part of the world. 

SMEs in UAE

Generally, SMEs are more versatile, easily incorporated and company setup cost is lower than larger ventures. Since these companies dominate Dubai’s business sector, the government of UAE takes special care of these legal entities with lucrative laws and specific incentives to encourage more investment in the region. 

For decades, SMEs in Dubai have served as anchors, driving job creation, innovation, business models and prototypes. They account for an overwhelming 95% of enterprise population in Dubai and take on 43% of the total workforce. To ensure these companies remain intact and prosperous, the UAE government has taken certain measures to help growth and expansion of this sector in the most effective means possible. With the World Expo 2020 closing in, SMEs are expected to surge further more in Dubai.

Source:https://ibgme.jimdo.com/