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Discussion Starter · #1 ·
has anyone set up a commerical company in RAK? where do i get a post box in Dubai? dont want to get in apartment block as I may move! and which bank in DUbai would one recommend as best for a business account - I have accounts with HSBC and NBD ~
 

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has anyone set up a commerical company in RAK?

yes. what info u require - zones or outside zone?

where do i get a post box in Dubai?
from Post office - go any post ofice near ur residence or office or whereever... you have to fill up one simple form , passoprt copy + residency visa pay fee and that all...they will give u two sets of key and box number.. booxes are normally outside post offices..


dont want to get in apartment block as I may move! and which bank in DUbai would one recommend as best for a business account - I have accounts with HSBC and NBD ~
it depends on ur relationship , HSBC good in relationship but cost is more.. NBD is OK but not freindly


but if you can build relationship every bank is OK...
 

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Discussion Starter · #3 ·
it depends on ur relationship , HSBC good in relationship but cost is more.. NBD is OK but not freindly


but if you can build relationship every bank is OK...
Thank you! good point
The co is in RAK Free Zone - commerical co - Can i trade in Dubai or do I need local partner > if so how to find one - also free zone or LLC?
 

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Thank you! good point
The co is in RAK Free Zone - commerical co - Can i trade in Dubai or do I need local partner > if so how to find one - also free zone or LLC?
Yes you can trade in dubai but for this you have to pay 5% custom duty on all your goods brought outside the Zone area...

Alternatively you can import goods and pay tax and do not physically bring inside zone boundary...

You can also use your licensee for brokerage commissioning in which no physical transfer of goods takes place but only you earn through brokerage ( reference)..


But in all case please note that if anytime in future you present your audited financial accounts to zone authority you have to pay tax on all transaction taken place outside the zone but in uae @ 5% ( check rate from zone)... although it is mot mandatory to present accounts to zone authority but if in case...


You donot need local partner till the time you registered with RAKFTZ..

In real sense RAKFTZ is your local partner...
 

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Discussion Starter · #5 ·
Yes you can trade in dubai but for this you have to pay 5% custom duty on all your goods brought outside the Zone area...

Alternatively you can import goods and pay tax and do not physically bring inside zone boundary...

You can also use your licensee for brokerage commissioning in which no physical transfer of goods takes place but only you earn through brokerage ( reference)..


But in all case please note that if anytime in future you present your audited financial accounts to zone authority you have to pay tax on all transaction taken place outside the zone but in uae @ 5% ( check rate from zone)... although it is mot mandatory to present accounts to zone authority but if in case...


You donot need local partner till the time you registered with RAKFTZ..

In real sense RAKFTZ is your local partner...
FABULOUS!!! feel like becoming my advisor? looks like this is going to become a whole lot more complicated and that certain relevant details were conveniently "omitted" by the relevant parties involved in setting this up! Do you perhaps know of a good advisor or accountant who can guide me through this all?

Thank you for your help so far!
 

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FABULOUS!!! feel like becoming my advisor? looks like this is going to become a whole lot more complicated and that certain relevant details were conveniently "omitted" by the relevant parties involved in setting this up! Do you perhaps know of a good advisor or accountant who can guide me through this all?

Thank you for your help so far!

kindly PM.
 
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