Ras Al Khaimah Commercial license: All the Information you Requires
You must first choose the kind of license you want to get before you can start a business in Ras Al Khaimah or anyplace else in the United Arab Emirates. The nature of your business operations will determine this completely. There are numerous popular licensing categories to select from, including professional, industrial, and commercial. Here, we’ll concentrate on the latter, which is commercial. You can trade, import, and export items both inside and outside of the United Arab Emirates, as well as sell specific services, if you have a commercial license.
There are several reasons why the commercial license is so well-liked in Ras Al Khaimah and the UAE. For starters, Ras Al Khaimah is well-known across the world for its amazing, advantageous location for trade, being encircled by enormous markets in the Middle East, Asia, Africa, and Europe.
The UAE is very well-liked by cargo companies due to its several international airports and direct access to the Persian Gulf. Lastly, the streamlined business incorporation procedure in the Emirates makes it simple to begin trading with the assistance of a company setup consultant. Here are some important things to think about if you’re considering expanding into the UAE’s commercial sector.
In Ras Al Khaimah, United Arab Emirates, what is a commercial license?
To put it simply, a business license is one that permits you to sell specific services and engage in commerce in items. These products can be traded just within the United Arab Emirates, exported for sale outside the country, or imported and sold in the country.
You can trade in about everything you can imagine with the commercial license, including jewelry, toys, food, packaging, and electronics. Additionally, you can sell brokerage and real estate services under a commercial license.
Activities related to commercial licenses
Some of the actions that are allowed under a commercial license are listed below:
- Export/Import
- The general store
- Sanitary contracting and plumbing
- Installation and maintenance of radio, television, and movie theater equipment
- Trading in automobiles
- Trading shoes
- Trading in silos and tanks
- Cold storage
- General storage
- Services for self-storage
- Services for rentals
- Management of restaurants
The Department of Economic Development (DED) or a company setup specialist can provide a comprehensive list of approved commercial business activities.
How to obtain a business license in Ras Al Khaimah
Getting a commercial license in the UAE is relatively simple, as long as you seek the advice and assistance of an experienced company formation specialist.
Your license application is the end result of only three easy actions.
Step 1: Is it a Mainland or Free zone Setup?
When starting a business in the United Arab Emirates, one of the most crucial decisions is whether to locate on the mainland or in a free zone. Both have numerous benefits. Benefits including a simple and rapid incorporation process, continuous business support, and financial incentives like tax exemptions and no currency limits are provided by free zones like Fujairah Creative City. Free zone licenses come in a variety of forms. A variety of license categories, such as commercial, industrial, e-commerce, and professional services, are available in many free zones.
On the mainland, a variety of licenses are also accessible. Businesses on the mainland can accept potentially profitable government contracts and engage in direct trade with the UAE market. The type of business you run will determine the best structure for you. A company formation specialist can assist you in choosing the best course of action for your unique needs.
Step 2: The Name of Your Business
One of the most crucial steps in starting a business in the United Arab Emirates is deciding on a company name. When making this choice, there are a few considerations to make. You have to follow a set of naming standards that are straightforward but rigorous. Once more, you can get assistance with this phase from a firm setup specialist.
Simply said, you should refrain from using any derogatory or blasphemous language. Steer clear of well-known company names and abbreviations when calling your business after yourself, such as Dave Mann Consulting instead of D Mann Consulting. Additionally, you need to confirm that the name you have selected is available for registration.
Step 3: Submitting Your Licensing Application
Applying for a commercial license is the last stage in the procedure. You can apply directly to the DED if you plan to establish yourself on the mainland. You can apply straight to the free zone if you have selected a free zone setup.
In any event, hiring a corporation formation expert at this point is a smart move to guarantee a quick and easy procedure.
Documents Needed in Ras Al Khaimah for a Business License
You often only need to provide a few details and some basic paperwork, whether you’re applying on your own or through a business formation agent. These include:
- filled-out application
- A copy of the prospective owner or owners’ passport
- Two passport-sized color pictures.
Ras Al Khaimah’s Commercial License Fees
There are other factors to take into account, including the price of a commercial license in Ras Al Khaimah. AED 10,000 is the approximate cost to acquire a license. The cost of additional registrations, visas, premises, and other expenses may also need to be taken into account; these can quickly reach AED 30,000+. Setting up in a free zone is the most economical method to launch a commercial enterprise in the United Arab Emirates, but you should be open to considering other emirates besides Ras Al Khaimah.
Numerous reasonably priced license packages are available in free zones like Fujairah Creative City, which also have a fast incorporation process, no annual audit, and no paid-up share capital need. Additionally, you can start your own business without physically being in the United Arab Emirates. The cost of a commercial licensing package in Fujairah Creative City is only AED 24,775, which includes one visa application and use of the co-working space in the free zone.
Obtaining a Commercial License in Ras Al Khaimah
Obtaining a commercial license in Ras Al Khaimah doesn’t have to be too difficult if you have the correct information. Nevertheless, it does necessitate some prior process expertise. Furthermore, it is crucial to remember that the application procedure is only simple if your license application is error-free and comprehensive when it is submitted. When starting a new business in the United Arab Emirates, it’s a good idea to collaborate with a company formation specialist like Business Incorporation Zone (BIZ) to help make sure that this is the case.
We are a group of experts in company registration that are committed to realizing the goals of small businesses and prospective entrepreneurs. In addition to managing your license application, BIZ can help you open corporate bank accounts and provide guidance on which financial institution would best meet your needs.
We can manage all government procedures, licenses, work permits, and visa applications needed to trade in the United Arab Emirates. We also provide immigration and visa services. To put it briefly, our professionals can set up your business, apply for your license and visa, and handle all the administrative work so you can focus on managing your firm.