RAKEZ Business Setup

Ras Al Khaimah Economic Zone (RAKEZ) is a pivotal hub for business and economic growth, offering a strategic location and a wealth of enterprise opportunities. The significance of establishing your business in RAKEZ lies in its role as a dynamic center that fosters innovation, growth, and global connections. With its robust infrastructure and business-friendly environment, RAKEZ has become an essential destination for startups, SMEs, and global players seeking a thriving ecosystem.

Recognizing the importance of a seamless business setup in RAKEZ, Filings.ae has been at the forefront of assisting entrepreneurs in realizing their business ambitions. Our dedicated team of experts is committed to simplifying the intricacies of the setup process, offering expert guidance and support. Whether navigating the regulatory landscape, obtaining the RAKEZ business licenses, or facilitating essential services, Filings.ae ensures that every step 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 situated in the emirate of Ras Al Khaimah, UAE. Established by the Government of Ras Al Khaimah, RAKEZ is a leading licensing authority, providing comprehensive solutions for company formation in the UAE. It caters to diverse businesses, including startups, SMEs, and global manufacturing entities, fostering a multinational community of over 18,000 companies across more than 50 sectors.

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 Setting up a Business in RAKEZ

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 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:

Zone	Legal Form	Number of Shareholders	Features
RAKEZ free zone	Free Zone Limited Liability Company (FZ-LLC)	One to fifty (1 – 50)	Zero corporate tax Zero income tax Zero custom duty Zero re-exported tax Freedom to source labor 100% foreign ownership Access to the local market of Ras Al Khaimah
RAKEZ non-free zone	Individual Establishment	One (1)	Zero corporate tax Zero income tax Direct sales in the local market Zero custom duty on sales in markets of UAE and Gulf Cooperation Countries
RAKEZ non-free zone	Limited Liability Company (LLC)	Two to fifty (2 – 50)	Zero corporate tax Zero income tax
RAKEZ non-free zone	Branches of companies incorporated inside or outside of the UAE	N/A	Zero corporate tax Zero income tax

RAKEZ 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.

RAKEZ Dual License

For example, the RAKEZ Dual License allows the combination of 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.

Types of RAKEZ Business Licenses

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

Commercial: Allows trading in both services and goods.
Educational: Permits the opening of education-related institutions or consultancy companies.
E-Commerce: Enables trading in goods and services through electronic means.
General Trading: Authorizes trading in multiple goods.
Individual/Professional: Tailored for a single owner engaging in one activity within a specific specialty or expertise.
Industrial: Designed for businesses involved in manufacturing, importing, packaging, and exporting products.
Media: Allows the operation of media-related business activities.
Professional: Geared towards individuals providing professional services.
Service: Permits the provision of services or consultancies across any industry.
Freelancer Permit: Specifically for professionals in media, education, IT, and analysts, allowing freelancing activities.

These business license types cater to a diverse range of business activities,

The commercial and industrial licenses enable a company to operate seamlessly in the RAKEZ free and non-free zone areas. Similarly, the professional license is issued for both free zone and non-free zone areas, contingent on the nature of the professional activity.

Documents Required for RAKEZ 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.

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.

RAKEZ Business Setup FAQ's

What is the Ras Al Khaimah Economic Registration?

Ras Al Khaimah Economic Registration is the process of registering a business or company within the Ras Al Khaimah Economic Zone (RAKEZ) in the United Arab Emirates (UAE). This registration allows businesses to operate within the RAKEZ jurisdiction and take advantage of its numerous benefits and incentives.

How do I start the registration process for my business in RAKEZ?

To begin the registration process, you should visit the RAKEZ official website or contact one of their representatives to learn more about the available business activities, license types, and legal structures. Then, submit the required documents and application forms for review and approval.

What documents are required for the registration process in RAKEZ?

The documents required for registration may vary depending on the business activity and legal structure. Some common documents include: Passport copies of the shareholders and directors CVs or resumes of the shareholders and directors Business plan or project summary Bank reference letter Proof of address.

How long does it take to complete the registration process in RAKEZ?

The registration process typically takes between 1-2 weeks, depending on the type of business license and the completeness of the submitted documents. However, some specialized activities may require additional time for approval.

What are the fees associated with registering a business in RAKEZ?

The fees for registering a business in RAKEZ depend on the chosen business activity, license type, and facilities required. It is advisable to consult the RAKEZ official website or contact a representative for a detailed breakdown of the fees.

Do I need a local partner or sponsor to register my business in RAKEZ?

No, RAKEZ allows 100% foreign ownership of companies registered within its jurisdiction, eliminating the need for a local partner or sponsor.

Can I register a branch of my existing foreign company in RAKEZ?

Yes, you can register a branch of your existing foreign company in RAKEZ, enabling you to maintain the same legal identity as your parent company while benefiting from RAKEZs incentives and advantages.

Is it mandatory to have a physical office space in RAKEZ?

While having a physical office space is recommended, RAKEZ offers flexible options such as flexi-desk and co-working spaces for businesses that do not require a dedicated office space.

Can I hire foreign employees for my RAKEZ-registered company?

Yes, you can hire foreign employees for your RAKEZ-registered company. However, you must obtain the necessary work permits and visas for them to work legally in the UAE.

What is the process for renewing my RAKEZ business license?

To renew your RAKEZ business license, you should submit a renewal application along with the required documents and fees before the licenses expiry date. RAKEZ typically sends reminders prior to the expiry date to help businesses stay compliant.

Freelancer

1 Year License - 1 Visa

2 Year License - 1 Visa