Ras Al Khaimah companies often combine a modest local footprint with activity elsewhere: an industrial unit in a RAKEZ zone, a warehouse serving customers across the Gulf, a hospitality or tourism operation, or a single-owner company whose founder now lives overseas. Young & Right supports the accounting, tax-deregistration and document work needed to close such a company, whether it holds a licence from RAK DED or from RAKEZ. We are an accounting and tax practice rather than a liquidation firm, and we work as liquidator only when separately engaged and licensed to do so.
Request a ConsultationA closure-readiness review of tax registrations, premises, creditors, receivables and the position of the founder or shareholders
Final accounts to the cessation date with reconciliations to banks, customers, suppliers and related parties
Evidence that substance, qualifying income and free-zone conditions were assessed for the last periods of operation
VAT and Corporate Tax deregistration preparation, including the final returns and supporting workings
Treatment of warehouse, factory or office leases, deposits and handover obligations in the closing accounts
Coordination with overseas owners, directors and professional advisers who need to approve the figures remotely
Please assemble the licence, the lease or facility agreement, the constitutional documents, the board or owner resolution to close, the latest accounts, bank statements, VAT and Corporate Tax registration details and a schedule of employees. For a company serving overseas customers, include sales contracts and invoices by country. If the shareholder is outside the UAE, send details of any power of attorney or signing authority, and tell us the time zone and the best way to reach that person.
A large number of RAK companies are held by owners who do not live in Ras Al Khaimah day to day. That does not prevent closure, but it affects how documents are signed, how bank instructions are given and how quickly decisions can be taken. We prepare approval packs that show the final figures, the open items and the resolutions that need signatures, so an overseas owner can review everything in one sitting. Whether a particular authority accepts electronic signatures, attested documents or a power of attorney is for that authority to confirm.
A company licensed by Ras Al Khaimah Department of Economic Development follows a mainland-style route, while one licensed by RAKEZ, the Ras Al Khaimah Economic Zone, follows the zone's own procedure and deals with the zone about its premises. In both cases VAT and Corporate Tax deregistration remain matters for the Federal Tax Authority. We make sure the financial statements given to the zone, the landlord, the bank and the FTA all tell the same story, because inconsistencies are what slow a closure down.
A company that has relied on the 0% rate for Qualifying Free Zone Persons should review the final period carefully. That rate applies only to qualifying income, and only where conditions on substance, qualifying activities and the de minimis limits are met. A company retaining QFZP status pays 9% on non-qualifying taxable income without the AED 375,000 threshold. If it loses QFZP status, standard Corporate Tax rules generally apply. We assess how the closing period looks against these conditions and document the conclusion, though the FTA makes the final determination.
Generally yes. Even a quiet company has a bank history, a tax position and records that must be explained, so final accounts are usually needed to support deregistration and cancellation.
Often it can, using a power of attorney or properly executed resolutions, but the licensing authority sets the rules. We prepare the figures so remote approval is straightforward.
The lease must be ended in line with its terms and the authority's handover rules. Any deposit refund or deduction is reflected in the closing accounts.
No. A 0% rate or relief does not remove registration, filing or record-keeping duties, and the FTA decides what applies in each case.
If you are closing a Ras Al Khaimah company, send us the licence, the latest accounts and a short note on who holds authority to sign, and we will map out the work that stands between today and a complete closing file.
