How much is the renewal fee for RAK ICC Free Zone Company?
Are you planning to renew your RAK ICC (Ras Al Khaimah International Corporate Centre) license? If so, you might be wondering how much the renewal fee is. In this article, we’ll delve into the renewal fee for a RAK ICC Free Zone Company, the required documents for renewal, and the benefits of setting up a business in Ras Al Khaimah.
Renewal fee and required documents
According to the RAK ICC website, the renewal fee for a RAK ICC Free Zone Company is AED 12,500 (approximately $3,400 USD) to renew the license and accompanying company documents such as the Certificate of Incorporation and the Memorandum and Articles of Association.
To renew your RAK ICC license, you must provide several documents, including the promoters’ passport copies, the company’s audited financial statements, and the renewal application form. Make sure these documents are up-to-date and meet the RAK ICC requirements.
Moreover, it’s worth noting that failing to renew your license before its expiration date can result in penalties and even the revocation of your license. Thus, it’s essential to stay on top of your renewal process and submit your documents on time.
Benefits of setting up a business in Ras Al Khaimah
Let’s take a closer look at a RAK ICC Free Zone Company and why you should consider setting up your business in Ras Al Khaimah. A RAK ICC Free Zone Company is a company set up within the Ras Al Khaimah International Corporate Centre Free Zone. Businesses in the RAK ICC Free Zone can enjoy several benefits, including:
First, foreign ownership is permitted, meaning you can own your business completely, without needing a local sponsor or partner. Also, RAK ICC Free Zone companies are exempt from corporate and personal income taxes and import and export duties. In addition, setting up a RAK ICC Company is relatively simple with minimal paperwork and low setup costs. Lastly, Ras Al Khaimah is in a strategic location between East and West, making it ideal for businesses that need access to both markets.
Furthermore, Ras Al Khaimah is known for its business-friendly environment, which fosters innovation and growth. The emirate has invested heavily in infrastructure, education, and healthcare, making it an attractive location for businesses and investors alike.
Renewing your RAK ICC license is a straightforward process, and the renewal fee for a AED 12,500. With the benefits of setting up a business in the RAK ICC Free Zone, it’s easy to see why more and more businesses are choosing Ras Al Khaimah as their home.
So, if you need help with renewing your RAK ICC license or have any questions, don’t hesitate to contact Skwer Group at info@skwergroup.com. We have years of experience in assisting businesses with their RAK ICC licenses and can provide you with expert guidance and support.