<span data-sheets-root="1" data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;This company can engage in the sale of equipment involved in the various operations of oil and natural gas production from primary stages of survey and exploration up to storage, including drilling equipment, pumping, gas liquefaction, refining and transportation. &quot;}" data-sheets-userformat="{&quot;2&quot;:6955,&quot;3&quot;:{&quot;1&quot;:0},&quot;4&quot;:{&quot;1&quot;:2,&quot;2&quot;:16043212},&quot;6&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;11&quot;:4,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:0},&quot;15&quot;:&quot;Arial&quot;}">This company can engage in the sale of equipment involved in the various operations of oil and natural gas production from primary stages of survey and exploration up to storage, including drilling equipment, pumping, gas liquefaction, refining and transportation.

Ras Al Khaimah

Entrepreneurs can open corporate accounts in traditional banks with physical branches, as well as in digital banks and payment systems.
When choosing a bank to open a corporate account, consider the following: service level, fees, available currencies, online banking performance, bank reputation, as well as other conditions that may be important for your business.
Successfully opening a corporate bank account requires a well-prepared documentation package, which may vary depending on the specific requirements of each bank. Documents submitted incorrectly or incompletely may negatively affect the bank's final decision in processing the application.

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Since January 1, 2018, the UAE has implemented a VAT rate of 5%, which applies to most goods and services and is charged to companies operating within the country, except for those registered in designated zones.
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A Designated Zone is a territory within a free zone that is treated as outside the UAE for tax purposes, allowing goods to be exempt from taxation, provided certain criteria are met. The main taxation rules in Designated Zones are as follows:
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The Designated Zones are listed in the Cabinet Decision to Federal Decree-Law No. (8) of 2017 on Value Added Tax (VAT).
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Goods moved between or within Designated Zones are not subject to tax.
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The export and import of goods between a Designated Zone and a foreign company are also not subject to tax.
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For local companies and those registered in Non-Designated Zones (free zones not included in the Designated Zones list), the standard tax rules set forth in the Federal Decree-Law on VAT apply.
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Companies with an annual turnover exceeding AED 375,000 are required to register with the Federal Tax Authority (FTA) as VAT taxpayers.
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Companies with a turnover between AED 187,500 and AED 375,000 may register on a voluntary basis.
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Companies can offset VAT paid on purchases of goods and services (input VAT) against the VAT they collect on sales (output VAT), shifting the tax burden to the final consumer.
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Some goods and services may be exempt from VAT or taxed at a 0% rate, such as international transportation, educational, and medical services.
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Value Added Tax (VAT)

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As of June 1, 2023, the UAE has introduced a corporate tax at a rate of 9%, levied on the taxable net profit of companies with income exceeding AED 375,000.
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A 0% rate is applied to taxable income not exceeding AED 375,000.
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Charitable, non-profit organizations and medical institutions are fully exempt from corporate tax.
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</ul>

Corporate Tax

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Since October 1, 2017, the UAE has introduced an excise tax aimed at reducing the consumption of harmful products and funding healthcare initiatives. The tax applies to alcohol, tobacco products, and beverages containing added sugar, including energy drinks and carbonated beverages.Excise tax rates vary depending on the product category:
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50% on carbonated drinks (excluding mineral water)
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100% on tobacco products
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100% on energy drinks
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100% on electronic smoking devices and liquids used for them
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50% on products containing added sugar or sweeteners.
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Companies dealing with excise goods must register with the Federal Tax Authority (FTA), submit monthly declarations, and maintain records. Excise tax is paid upon the import, production, or release of goods for consumption in the UAE.
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Excise Tax

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Custom duties in the UAE are applied to most imported goods at a standard rate of 5% of the cost, insurance, and freight (CIF). Exceptions include certain categories of goods, such as medicines and food products, which may be exempt from duties or subject to a reduced rate.
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Goods imported into UAE free zones are generally not subject to customs duties as long as they remain within these zones. However, when such goods are transferred to the UAE mainland, standard duties apply.
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Customs Duties

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In the UAE, personal income is not subject to taxation.
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UAE citizens and residents are exempt from paying taxes on their personal income, including salaries, interest, dividends, inheritances, gifts, luxury goods, and capital gains.
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Personal Income Tax

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<li>Individual emirates may impose specific local taxes and fees in line with their economic and social needs. These taxes and fees are aimed at supporting public services and implementing infrastructure projects.</li>
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Local Taxes and Fees

Companies registered in the free zone can conduct business within the free zone and beyond the UAE. This helps to expand business, create and strengthen partnerships and enables interaction with clients and partners worldwide.

Access to Local and Global Markets

The free zone is situated in Ras Al Khaimah, close to an international airport, seaports, and key transportation hubs. This prime location ensures easy access to major markets in the Middle East, Africa, Asia, and Europe, making it a vital center for international trade, logistics, and exports.

Strategic Location

The free zone enables entrepreneurs to establish their business remotely, without the need for physical presence in the UAE, providing convenient access to the registration process from anywhere in the world.

Remote Company Registration

The free zone enables foreign entrepreneurs to retain 100% ownership of their company, granting full control over profits and unrestricted capital repatriation outside the UAE. This fosters an optimal environment for strategic financial planning and efficient business management, free from limitations on economic activities.

Full Profit Control

The free zone offers licenses for over 3,000 types of businesses, enabling entrepreneurs to develop projects across various industries, including manufacturing, energy, technology, healthcare, aviation, logistics, education, media, trade, professional services, and more.

Wide Range of Business Activities

The free zone provides specialized infrastructure for industrial, logistics and warehousing facilities, including Al Hamra, Al Ghail and Al Hulaila Industrial Zones as well as Saqr Port. Business zones Al Hamra and Al Nakheel are designed for office and administrative activities, offering a suitable environment for service providers and corporate operations.

Infrastructure

Designated zones provide exemptions for the import, export and re-export of goods both within their own territory and between other designated zones. VAT does not apply to transactions when the conditions set by the Federal Tax Authority (FTA) are met, allowing companies to minimise their tax burden.

Tax and Customs Benefits

<article dir="auto">RAKEZ offers specialized industry-focused ecosystems to support and grow businesses. RAKEZ Media Zone is tailored for companies in the fields of media, digital content and communications, providing dedicated infrastructure and flexible working conditions. RAKEZ Academic Zone is intended for international educational institutions and academic initiatives. The industrial zones are designed for trading and logistics companies.</article>

Ecosystem

May contain the name of a shareholder

Must not violate the country laws or contain words that are obscene, indecent or generally offensive

Must not contain the names of Allah, Buddha or God, or any other religious terminology

Must not infringe any third party's intellectual property rights

Must not be identical or similar to local/global brands or registered trademarks

Must not contain geographical names, such as the names of emirates, cities, countries and other landmarks

Must not contain the names of local/international religious, political or governmental organizations

Must correspond to the company’s business activities

RAKEZ (Ras Al Khaimah Economic Zone) is a free economic zone (free zone) established in 2017 in the Emirate of Ras Al Khaimah, UAE. RAKEZ is one of the largest and most dynamically developing business hubs in the region, attracting companies from over 50 industries, including trade, logistics, manufacturing, education, IT, and professional services. The free zone brings together small, medium, and large enterprises, offering a supportive ecosystem for growth and development.
The free zone provides a wide range of infrastructure solutions, including industrial zones, office spaces, warehouse facilities, and land plots for bespoke construction projects. It is also renowned for its business support initiatives, such as training programs, industry exhibitions, and networking events, fostering new partnerships and expanding opportunities for entrepreneurs. Businesses registered in RAKEZ are permitted to operate both within the free zone and beyond the UAE.
RAKEZ issues the following types of business licenses:
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<li>Commercial (wholesale and retail trade)</li>
<li>Service (provision of services)</li>
<li>Industrial (manufacturing)</li>
<li>Educational</li>
<li>E-commerce</li>
<li>Freelance</li>
</ul>
With its strategic location near key transportation hubs, modern infrastructure, and commitment to supporting entrepreneurs, RAKEZ is an ideal choice for businesses aiming to scale, expand internationally, and achieve sustainable growth within the UAE and beyond.

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