Ras Al Khaimah Media City is a top Entertainment Center for all companies operating in the media industry. Launched in 2006 as an alternative to Dubai Media City, it offers investment opportunities and benefits to media-oriented business owners and investors. RAK Media City is another RAK Free Trade Zone (RAKFTZ) controlled by the RAKFTZ authority. The rising cost of living in Dubai’s free zones makes RAK Media City a cost-effective alternative. Entrepreneurs are attracted to this RAK FTZ because it provides first class facilities, excellent business infrastructure, prefabricated offices and media-related business licenses.
Economically, RAK Media City has grown at an unprecedented rate in recent years. Its business-friendly environmental regulations, which are beneficial to the media industry, have made it an ideal destination for the media and entertainment industries. Media companies have complete freedom to produce their films, radio and television broadcasts.
Business advantages in Ras Al Khaimah Media City
Quick and easy registration process.
100% foreign ownership.
Offers 100% income and corporate tax exemption.
Provides 100% capital and profit repatriation.
Fast procedure for obtaining residence permits and visas for the UAE.
Fewer work restrictions.
Provides state-of-the-art infrastructure.
No currency restrictions.
No customs duties.
Excellent availability of airports and seaports.
Transparent laws and regulations.
Furnished offices and warehouses.
Offers a variety of real estate facilities to meet individual start-up needs.
Process of Setting up a company in the RAK Media city
The establishment of a company in RAK Media City is done in a rather systematic way, following the laws of the Emirates. The process of setting up a company follows these steps:
- Determining the type of business activity
- Create a detailed business plan
- Name the company and reserve it
- Deposit of the required minimum capital to the company’s bank account in RAK Media City
- Determination of the workforce required to manage the company
- Carry out business registration
- Takes care of the licensing requirements
- Obtaining the signatures of shareholders on the incorporation documents with completion of other incorporation formalities in the presence of RAK Media City authorities
Documents for the formation of the company in the RAK Media City
- Proof of reservation of the trade name
- Proof of initial authorisation of business activity
- Passport copies for the shareholders
- Copy of passport and curriculum vitae of the manager
- Personal information sheet for each shareholder and manager
- Rental agreement [in the United Arab Emirates it is mandatory to have a physical address for your own office.
- If applicable, approval by third parties / authorities for activities
If you have decided to start a business in Ras Al Khaimah Media City, we will help you. Our business design techniques combined with your industry expertise and global reach allow us to be the best in the industry. Contact us today. We will be happy to help you.