Thanks to its special and developing economy and the highly developed banking and financial services market, the United Arabian Emirates is a fertile ground for emerging entrepreneurs and investors. Moreover, through welcoming measures that cut red tape, minimize taxes, and reduce procedures for setting up, the UAE Government has both helped and fostered these migrations.
Working on an RAK free zone company setup can be boring if you do not know about corporate rules and policies. Therefore, you will be able to lift the burden of appointing a company consultant in the UAE. You handle the whole process so you can focus on business.
In this case, too, we will send you a rundown of a few items that your UAE company wants to do.
Because of the numerous tax incentives given by the authorities, many companies are searching for registrations in a free zone. The category of corporate bodies and the one better fits your commercial practices are what you know from the registration process. Let us get to the main content, i.e. the types of corporate organizations in free areas of the UAE.
Creation of Free Zone (FZE)
A Free Zone Building is a single free zone shareholder corporation. A free zone is a body that complies with its Memoranda and Articles of Association and implements rules and regulations. At least two directors and an FZE secretary should be in position. An individual may hold the offices of director and secretary.
Inside the UAE, but only within the borders of the free region business will work. There are two or more owners of an RAK offshore company (both individual and corporate). A limited liability corporation is a free zone company. Any year, within three months of the end of the fiscal year an FZC can send its audited financial statements to the US Free Zone Authority. At least two directors and a Free Zone Business Secretary should be present. A single person may hold the offices of management and secretary.
Once the Lease and Personal Secondment deal is signed, the Free Zone will grant the license. The Free Zone issues the license and all associated papers on payment.