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BUSINESS TRADE LICENSE RAS AL KHAIMAH
A Business Trade License in Ras Al Khaimah is a document that allows a company or an individual to legally operate a business within the jurisdiction of Ras Al Khaimah, UAE.
It is issued by the Department of Economic Development in Ras Al Khaimah and is necessary for setting up and conducting business activities in the emirate. The license includes the type of permitted business activities, the company’s legal status, and the company’s registered address.
Obtaining a Business Trade License is mandatory for company registration in Ras Al Khaimah and is essential for conducting business operations legally and smoothly.
HOW TO GET TRADE LICENCE IN RAS AL KHAIMAH
Select the type of business
The first step in obtaining a Ras Al Khaimah trade license is to determine the type of business that the company falls into, i.e. commercial, professional, or industrial. This will determine the nature of the business activities that can be carried out under the licence.
The applicant must determine the various business activities that come under the license of choice, with a maximum of ten activities. This will help determine the scope of the business operations that can be conducted under the trade licence Ras Al Khaimah.
Select a trading name
The company must select a trade name for the business. The trade name must be unique and not similar to any existing names in the RAK database.
Initial approval
Once the company has completed the above steps, it must get an initial approval from the RAK Department of Economic Development. This is an important step as the trade license in Ras Al Khaimah will only be issued after the initial approval is obtained.
Approval of licence details
The RAK licensing authority will review the details of the licence application and make any changes or additions if required. The applicant will then be notified of the changes or additions made, if any.
Payment of fees and issuance of the licence
After the licence details have been approved, the payment voucher will be allocated, and the fees must be paid. The fees depend on the type of business and the business activities that are to be conducted. After the fees have been paid, the applicant will receive a Ras Al Khaimah business license and trade register certificate.
TYPES OF TRADE LICENCES IN RAS AL KHAIMAH
Industrial Licence
An industrial license is required for businesses that are involved in manufacturing, processing, assembling, packaging, and other similar activities. This license allows companies to engage in industrial activities such as the production, assembly, and packaging of goods within the jurisdiction of Ras Al Khaimah.
Trading Licence
A Ras Al Khaimah trading licence is required for businesses involved in importing, exporting, distributing, warehousing, and trading of goods. This licence allows companies to engage in the trading of products within the UAE and is necessary for businesses that import, export, or distribute goods within the country.
General Trading License
A general trading license in Ras Al Khaimah combines industrial and trading licences. It allows businesses to engage in all kinds of trading activities, including import, export, storage, and distribution of goods. The General trade licence Ras Al Khaimah is ideal for businesses involved in multiple trading activities and want to conduct their operations under a single licence.
Commercial Licence
A commercial license in Ras Al Khaimah is required for businesses that are involved in activities covering contracting, repairing, maintenance, renting, shops, restaurants, and other similar activities. This licence allows companies to engage in commercial activities such as retail and wholesale trade and repair and maintenance services.
Consulting/Service License
A consulting/service licence is required for businesses that are involved in any type of management, business, industrial consultancy, or professional services, including real estate consulting. This licence allows companies to offer professional services, such as management consulting, legal advice, and technical support, to clients within the UAE.
Media Licence
A media licence is required for businesses that are involved in all kinds of media and communication services. This licence allows companies to engage in media-related activities such as printing, publishing, and advertising within the jurisdiction of Ras Al Khaimah.
TRADE LICENSE RAS AL KHAIMAH FEES
The fees for a trade licence in Ras Al Khaimah can vary depending on the type of license and the business activities that are to be conducted. Some factors that can influence the fees include the type of business, the number of employees, the size of the office space, and the business’s annual turnover.
Here are some approximate ranges of trade license fees in RAK –
- Industrial licence: AED 12,000 to AED 25,000 per year
- Trading licence: AED 10,000 to AED 20,000 per year
- General trading licence: AED 20,000 to AED 35,000 per year
- Commercial license: AED 5,000 to AED 15,000 per year
- Consulting/service license: AED 10,000 to AED 25,000 per year
- Media license: AED 25,000 to AED 50,000 per year
BENEFITS OF GETTING A BUSINESS TRADE LICENSE IN RAS AL KHAIMAH
Increased credibility
A trade licence enhances the credibility of a business and helps it to establish a professional image in the eyes of customers, suppliers, and other stakeholders.
Access to financing
A trade licence is often a prerequisite for obtaining business financing from banks and other financial institutions.
Simplified process of setting up a company
A trade licence streamlines the process of setting up a company in Ras Al Khaimah by providing a single document that covers multiple aspects of the business.
Access to a wider market
A trade licence allows businesses to access a wider market and expand their customer base within the UAE and beyond.
DOCUMENTS REQUIRED TO GET YOUR RAS AL KHAIMAH TRADE LICENSE
- Completed license application
- Lease agreement certified by a notary public
- Certificate of trade name
- Copy of the family book, passport, and national identification card for UAE citizens
- Certified No-objection letter, copies of a foreigner’s visa, passport, or proof of residency
- Technical Evaluation Report
- Departmental authorization of the government, if necessary
- Service Agent Contract approved by the Legal Affairs Section
- Photocopy of certified tenancy contract
- Land Map or Ownership Certificate
- Approval of other governmental authorities, if needed
RENEWAL OF TRADE LICENSE IN RAS AL KHAIMAH
The procedures in RAK for renewing a company licence are listed below.
- Have a lease that is valid and has been attested to by Ejari for at least one month.
- Apply for licence renewal at RAK DED submitting all necessary paperwork.
- A payment voucher is given by the DED. Pay the fees and get the licence.
The Documents Required For The Renewal Are:
- A typed BR/1 form, a copy of the tenancy agreement, and a certificate of Ejari registration
- A copy of the current business licence
- copy of each shareholder and business partner’s passport
HOW RELIN CONSULTANTS HELPS YOU TO GET A BUSINESS LICENSE IN RAS AL KHAIMAH
Relin Consultants is a consultancy firm that will assist you in obtaining a business license in Ras Al Khaimah, United Arab Emirates. Our team of professionals will help with the documentation, legal requirements, and processes involved in obtaining a business license, enabling you to establish the business in a smooth and efficient manner.
Reach out to us at Relin Consultants to learn more about our services in Ras Al Khaimah.
FAQs
How to apply for a Ras Al Khaimah trade licence?
To apply for a Ras Al Khaimah trade licence you can follow the following steps.
- Choose the appropriate business activity and legal form for your company
- Obtain initial approvals and clearances from relevant government departments
- Submit all required documentation, including a business plan and proof of funds
- Pay fees and deposits
- Obtain the trade licence and register with relevant authorities.
How much does a business licence cost in Ras Al Khaimah?
The cost of a business licence in Ras Al Khaimah depends on several factors, including the type of business activity, legal form, and size of the company. Typically, the costs can include licence fees, visa fees, deposit fees, and sponsor fees, among others. On average, the total cost can range from AED 10,000 to AED 50,000 or more.
How can I get a business licence online in Ras Al Khaimah?
Getting a business licence online in Ras Al Khaimah is possible through the Ras Al Khaimah Economic Zone (RAKEZ), which provides a fully digital platform for business setup and licensing. Here are the steps to apply for a licence online in RAKEZ.
- Visit the RAKEZ website and create an account
- Choose your desired business activity and legal form
- Fill out the online application form and submit all required documentation
- Pay the fees and deposit online
- Wait for approval from RAKEZ
- Receive your licence and certificate of incorporation via email.
Is a trade licence mandatory in Ras Al Khaimah?
Yes, a trade licence is mandatory in Ras Al Khaimah for businesses operating in the emirate. The licence is issued by the Department of Economic Development (DED) and serves as proof that a business is legally registered and authorised to operate in the emirate.
Without a trade licence, a business cannot legally operate in Ras Al Khaimah and may face fines and penalties.
Is it hard to obtain a trade licence in Ras Al Khaimah?
Obtaining a trade licence in Ras Al Khaimah can be a complex and time-consuming process, especially for those who are unfamiliar with the legal and regulatory requirements. But with the help of a trustable consultancy firm, this process can be simplified.
Do small businesses need a licence in Ras Al Khaimah?
Yes, small businesses in Ras Al Khaimah are required to obtain a trade licence from the Department of Economic Development (DED) in order to operate legally. This applies to all types and sizes of businesses, including sole proprietorships, limited liability companies, and branches of foreign companies.
Obtaining a trade licence ensures that the business is legally registered and authorised to operate in Ras Al Khaimah, and also provides access to a range of benefits, such as the ability to open a corporate bank account and apply for visas for employees.
Therefore, even small businesses in Ras Al Khaimah need to obtain a trade licence to operate legally and take advantage of the benefits available to them.
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