RAKEZ Free Zone Company Formation

Ras Al Khaimah Economic Zone (RAKEZ) is a pivotal business powerhouse that consolidates the Ras Al Khaimah Free Trade Zone (RAK FTZ) and the RAK Investment Authority (RAKIA) under the guidance of His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah. This investment platform is strategically positioned in the United Arab Emirates to connect investors from the Middle East, North Africa, Europe, and South and Central Asia. As a leading industrial hub for trading, manufacturing, and logistics, the RAKEZ free zone attracts diverse enterprises, from startups to global corporations, looking to thrive in a dynamic and business-friendly environment.

At Filings.ae, we understand the importance of a streamlined business setup in the RAKEZ free zone. Our dedicated team of experts assists entrepreneurs in achieving their goals by simplifying the setup process and offering expert support in regulatory navigation, obtaining RAKEZ business licenses, and facilitating essential services. Filings.ae ensures that every step toward establishing your business in this innovative ecosystem is efficiently managed.

Experience a seamless RAKEZ Business Setup journey with our expert assistance. Contact us today!

Ras Al Khaimah Economic Zone (RAKEZ)

As mentioned above, Ras Al Khaimah Economic Zone (RAKEZ) is a prominent economic and business hub in the emirate of Ras Al Khaimah, UAE, covering approximately 33 million square meters. It is one of the largest economic free zones serving a multinational community of over 18,000 companies from over 100 countries, spanning over 50 sectors, including startups, SMEs, and global manufacturing entities. RAKEZ Free Zone, along with cost-effective and world-class solutions, offers tailored packages, state-of-the-art facilities, and strategic connectivity to global markets, making it a preferred licensing authority for company formation in the UAE.

• RAKEZ facilitates both free zone and non-free zone setups, offering customizable solutions to meet the unique needs of businesses.
• RAKEZ comprises six distinct field-specific zones, each designed to cater to specific business needs and industries.

Benefits of Business Setup in RAKEZ Free Zone

RAKEZ provides numerous benefits to its affiliated companies, including:

• Authorization for over four thousand (4,000) business activities within the Ras Al Khaimah Economic Zone.
• Cost-effective options for setting up a company with RAKEZ.
• Availability of both free zone and non-free zone choices.
• Remote formation of a company without the need to visit the UAE.
• Minimal documentation requirements for company establishment.
• Dedicated zones within Ras Al Khaimah Economic Zone for industrial, academic, and business pursuits.
• Efficient processes for company incorporation within Ras Al Khaimah Economic Zone.
• Minimum capital requirement of AED 10,000 (AED 15,000 for industrial activity).
• Multiple business activities can be conducted under a single RAKEZ company through various licenses.
• Full repatriation of profits and capital (100%).
• No personal or corporate taxes (0% tax).
• Options for ready-to-move-in flexi desks, Flexi offices, and dedicated office spaces for RAKEZ companies.
• Warehousing and storage facilities options are provided.
• Land for development offered by Ras Al Khaimah Economic Zone is beneficial for manufacturing, logistical, and service industry projects.
• Provision for on-site staff and labor accommodations.
• Business opportunities with over fourteen thousand (14,000) companies from fifty (50) different countries already established with RAKEZ.
• Investors and employees of Ras Al Khaimah, Economic Zone companies, can sponsor their families.
• Investor visas granted to RAKEZ companies' investors offer the freedom to travel to Gulf Cooperation Countries.

Types of RAKEZ Free Zone Companies

The legal structures of RAKEZ companies vary based on whether they are established in the free zone areas or non-free zone areas of the Ras Al Khaimah Economic Zone. The distinctions between these types are summarized in the table below:

RAKEZ Free Zone Business License

In order to conduct business in the UAE, obtaining a valid business license is a prerequisite. Similarly, when establishing a company in Ras Al Khaimah, securing a business license within the emirate is essential. Whether you are a startup looking to expand in Ras Al Khaimah, an established company seeking growth, or an entrepreneur aiming to diversify products and services under a single entity and operate across the country, various business licenses cater to different needs.

Types of RAKEZ Business Licenses

Below is a list of the various types of business licenses issued by RAKEZ:

Commercial License:

Allows trading in both services and goods, providing the legal framework necessary for businesses to operate within these sectors.

Educational License:

Permits the opening of education-related institutions or consultancy companies, ensuring compliance with educational regulations and standards.

E-Commerce License:

Enables trading in goods and services through electronic means, facilitating online business operations in compliance with digital commerce regulations.

General Trading License:

Authorizes trading in multiple goods, allowing businesses to diversify their product offerings across various categories.

Individual/Professional License:

Tailored for a single owner engaging in one activity within a specific specialty or expertise, ensuring that the business adheres to relevant professional standards.

Industrial License:

Designed for businesses involved in manufacturing, importing, packaging, and exporting products, covering the legal requirements for industrial operations.

Media License:

Allows the operation of media-related business activities, ensuring adherence to broadcasting and media regulations.

Professional License:

Geared towards individuals providing professional services, ensuring that practitioners meet the necessary qualifications and standards.

Service License:

Permits the provision of services or consultancies across any industry, establishing a legal basis for service-oriented businesses.

Freelancer Permit:

Specifically for professionals in media, education, IT, and analysts, allowing freelancing activities while complying with industry-specific regulations.

RAKEZ Dual License

The RAKEZ Dual License combines commercial and professional activities under a single business license, enabling seamless operations in the UAE, both on the mainland and in free zones. This dual business license encompasses a UAE free zone license and a UAE free zone company branch business license.

Before initiating the business license application, it is crucial to determine the activities the company will engage in and the type of structure to be incorporated, whether it's a sole establishment, Limited Liability Company (LLC), or holding company.

If you require assistance in selecting the appropriate business license or navigating the business setup process, including document compilation, submission, and payment procedures, RAKEZ's company formation experts are available to guide you throughout the entire journey.

RAKEZ Specialized Zones

RAKEZ (Ras Al Khaimah Economic Zone) features specialised zones designed for specific business sectors, fostering operational efficiency and growth.

• RAKEZ Business Zone: The RAKEZ Business Zone supports trading, service, and consultancy businesses, providing essential facilities and services for seamless operations.

• Al Hamra Industrial Zone: Al Hamra Industrial Zone accommodates both light and heavy industries, allowing both free zone and non-free zone entities to operate effectively with state-of-the-art infrastructure.

• Al Ghail Industrial Zone: Al Ghail Industrial Zone is tailored for large-scale industrial manufacturing, serving both free zone and non-free zone entities with ample space and resources.

• Al Hulaila Industrial Zone: Al Hulaila Industrial Zone focuses on heavy industrial manufacturing, equipped to handle substantial industrial projects with necessary infrastructure and support services.

• RAKEZ Academic Zone: The RAKEZ Academic Zone caters to schools, universities, and academic consultancy services, creating an environment conducive to educational development.

These specialized zones in RAKEZ are designed to meet diverse business needs, driving economic diversification and growth in Ras Al Khaimah.

Documents Required for RAKEZ Free Zone Business Setup

The formation of a company with Ras Al Khaimah Economic Zone requires the submission of the following documents:

• Colored passport copy or Emirates ID (for UAE residents).
• Visa copy and entry stamp (if the individual is currently in the UAE).
• Original no-objection certificate for the general manager (for UAE residents).
• Business plan.
• Shareholders' resolution detailing the establishment of the RAKEZ company and the appointment of the general manager (for corporate shareholders).
• Trade license or certificate of registration of the existing business (for corporate shareholders).
• Memorandum and articles of association (for corporate shareholders).
• Certificates of good standing or certificate of incumbency (for corporate shareholders).

Procedure for RAKEZ Business Setup

The steps to Starting a Business in the UAE are explained in detail below.Filings.ae can assist you in all steps to set up your business in RAKZ.

Step 1: Choose the Company name and Business Activities

The initial step in launching a business in the UAE is to define the business activities and select a company name. Ensure that the chosen activities align with the pre-approved list provided by UAE authorities. Decide on the type of license needed based on your business activity, such as a commercial license for commercial activities or an industrial license for industrial activities. Choose a company name adhering to UAE naming conventions and ensure its availability before proceeding with the license application.

Step 2: List Business Needs

While it's possible to apply for a standalone trade license in the UAE, consider the option of applying for a license package through a free zone. These packages often come with additional benefits, such as visa eligibility and access to co-working facilities. The package may include features like a fully furnished office, warehouse, or land for premises development.

Step 3: Submit Application

Once you have determined the company name, specified the business activities, and outlined the license package requirements, proceed to submit the business license application. If setting up in the UAE mainland, submit your application to the Department of Economic Development or the Municipality of the intended business emirate. For free zones, submit the application directly to the managing authority of the chosen free zone. Initial applications can often be completed online and submit the documents mentioned above.

Step 4: Receive Business License

After submitting your application, await the issuance of your documentation. Upon completion of licensing formalities, your license, registration set, and bank letter will be issued, marking the beginning of the visa application process.

Step 5: Apply for Visa

If you have chosen a free zone package with visa eligibility, the visa application process begins after your license is issued. For those applying for their own visas, the process can commence upon receiving the trade license. The UAE visa process involves application submission, followed by a medical test and biometric capturing. Our Experts at Filings.ae, can help ensure a successful and timely visa application.

Step 6: Open a Bank Account

The final step before commencing business operations is UAE bank account opening. In a free zone, you may receive a Bank Letter that allows you to open an account with a UAE bank of your choice. Filings.ae professional can streamline this final step.

RAKEZ Free Zone Global Product for International Investors

RAKEZ offers a unique Mid-Shore Free Zone Company structure that combines the offshore and free zone setup benefits, making it an attractive option for international investors to establish their companies or re-domicile existing overseas entities. With a special Business License Package, RAKEZ provides diverse business activities for investors, including Commercial Services, E-Commerce, Media, General Trading, and Industrial License categories. Investors can choose from various operational formats, such as co-working spaces, physical offices, warehouses, and leased land, ensuring flexibility to suit their specific needs. This setup is particularly beneficial for holding companies, trading and general trading enterprises, e-commerce businesses, and industrial manufacturers, facilitating growth and operational efficiency in a supportive environment.

Expert Guidance for Seamless Business Setup in RAKZ

Filings.ae experts are well-equipped to assist you in seamlessly setting up your business in RAKZ (Ras Al Khaimah Economic Zone). With in-depth knowledge of the local regulations and procedures, our professionals can guide you through the entire business setup process. From choosing the right legal structure and preparing and submitting necessary documents to facilitating the application process, our experts ensure that your business is established in compliance with RAKZ requirements.

By leveraging our expertise, you can easily navigate complexities, allowing you to focus on the core aspects of your business. Whether you are a startup or an established enterprise, Filings.ae provides comprehensive support, making the business setup journey in RAKZ efficient and hassle-free.