Key Steps to Starting a Business in Ras Al Khaimah
In order to start a business in the Emirate of Ras Al Khaimah, you need to follow these five key steps:
1. Determine the type of business activity
It is crucial for the investor to determine the type of business activity before initiating business license issuance procedures. Each activity has its own unique legal regulations and fees according to its nature. In addition to the above mentioned, some activities are required to fulfill particular conditions and specifications related to the location site (e.g. location & space),as some locations are strictly forbidden for some activities under certain conditions.
2. Determine the Legal Category of the Establishment
There are many legal categories that fit every business, e.g. Limited Liability Company (L.L.C), etc. The legal status requirements are determined by the type and nature of the business.
All investors, regardless of legal status, have to visit the office of the General Directorate of Residency & Foreigners Affairs in the Department of Economic Development to obtain approval.
3. Registering the Trade Name
Post determining the type of the activity and the legal status of the business, it is important to choose a unique and appropriate trade name for the establishment. The investor may obtain initial approval before obtaining the trade name certificate. The initial approval allows the investor to continue with business license issuance proceduresand address the concerned authorities to obtain their approval to conduct the required business activity, though not conducting the activity without first obtaining the license.
In this step, the investor may rent the business site after visiting the Monitoring & Consumer Protection Administration in the Department of Economic Development and other concerned authorities to examine and approve the business location (fulfill the required specifications and activity convenience).
4. Obtaining Approvals of Concerned Authorities
After obtaining initial approval and fulfilling the requirements and legal conditions, the investor should visit the other concerned authorities to obtain their approval. These authorities are defined according to the required activity, although some types of activities may require the sole approval of the Department of Economic Development.
5. Issuance of the Business License
Once the approval of the concerned authorities is obtained, the investor may proceed to the stage of fulfilling all the legal requirements of business license issuance from the Department of Economic Development,before finally receiving the license.
The licenses issued by the concerned authorities in the Emirate of Ras Al Khaimah are classified under:
Business Establishment Facilitation Services:
In order to facilitate the procedures of establishing economic enterprises in Ras Al Khaimah, the concerned Government authorities along with the Economic Zone authorities provide all kinds of support to businesses, including the Single Window Service. RAKEZ provide this service to assist companies with obtaining the necessary Licenses and approvals from other Government authorities efficiently.
DED Express Service: Investors who aim to launch a business in the Emirate of Ras Al Khaimah may take advantage of the Express Service provided by the Department of Economic Development for an additional fee.