RAKEZ Company Formation

RAKEZ Company Formation

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RAKEZ Free Zone Business Setup

RAKEZ, or Ras Al Khaimah Economic Zone, is a prominent business hub located in the northernmost emirate of the UAE. It provides both free zone and non-free zone business setup options, making it an appealing destination for businesses of all sizes. 

Established to cater to a wide variety of industries, RAKEZ offers over 1,000 different business activities, making it one of the most versatile and flexible economic zones in the country. This broad range of options allows entrepreneurs from sectors such as manufacturing, trading, services, logistics, media, education, and many more to easily find the ideal setup for their business in RAKEZ.

As one of the fastest-growing economic zones in the UAE, RAKEZ is currently home to over 21,000 active businesses from more than 100 countries. Its strategic location between Europe, Asia, and Africa, along with its robust infrastructure, low operational costs, and business-friendly policies, make it a favored choice for companies looking to establish themselves in the region. Whether it's a small startup or a large multinational, RAKEZ provides businesses with the tools and support they need to thrive in a competitive market.

RAKEZ has also gained significant recognition for its achievements. It has won multiple prestigious accolades, including the Best Special Economic Zone and Free Zone Hub of the Year, which highlight its commitment to excellence and its role as a leader in economic development. These awards showcase RAKEZ's ability to offer world-class services while continuously improving and innovating its offerings to meet the evolving needs of businesses.

Recently, Ras Al Khaimah has approved the commercial gaming industry, adding a new dimension to the emirate’s economic landscape. This move has further increased RAKEZ's appeal to investors and entrepreneurs, positioning it as an even more optimally situated economic zone. As the zone continues to expand, RAKEZ remains at the forefront of supporting businesses and driving growth in the UAE’s northern region.

RAKEZ Free Zone Business Setup Advantages

Full Foreign Ownership

International businesses do not require a local Emirati sponsor to be a partner to operate, maintaining 100% ownership.

Diverse Business Activities

 There are over 700 business activities available across multiple industries.

Cost-Effective Setup

Provides some of the most affordable business setup packages in the UAE, including low-cost office spaces, warehouses, and business licenses.

Free Repatriation of Profits

There are no restrictions on profit repatriation, which means businesses can send their profits back to their home countries without any taxes or limitations.

Strategic Location

Easy access to Ras Al Khaimah's seaport, highways, and proximity to major UAE cities like Dubai, Abu Dhabi and major international markets.

Tax Incentives

Exemption from corporate tax, personal income tax and import and export custom duties.

Convenient Business Setup

Physically presence in the UAE is not needed, through services of Department of Economic Development Express Service and Single Window Service

Modern Infrastructure & Facilities

 Offers flexible and scalable business facilities including flexi-desks, warehouses, staff housing, and industrial plots.

Low Capital Requirements

Minimum capital starts from AED 10,000 and 15,000 for industrial activities.

Support for Women Entrepreneurs

Offers tailored packages for women-led businesses.

Flexible Payment Plans

Company registration and renewals can be paid in interest-free installments over six months.

Easy to open a bank account

RAKEZ’s strategic alliances with banks expedite the account opening and management process.

Licenses Available in RAKEZ Free Zone 

Commercial License: For businesses involved in trading and commercial activities.
Educational License: For educational institutions and training centers.
E-commerce License: For businesses operating online and conducting e-commerce activities.
General Trading License: For businesses covering broad trading activities involving multiple product categories.
Individual License: For individuals conducting one activity in a specific specialty or expertise.
Industrial License: For manufacturing and industrial operations.
Media License: For companies involved in media production, broadcasting, and related activities.
Service License: For businesses providing various services, excluding industrial activities.
Freelancer Permit: For independent professionals.
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RAKEZ Free Zone Business Setup Process

Timeline: 4 to 8 weeks

01 Choose Business Activity and License Type 

Determine the type of business activity you want to undertake (commercial, professional, or industrial) and the legal structure (e.g., Free Zone Limited Liability Company (FZ-LLC).

02  Reserve Trade Name

Ensure the chosen trade name complies with the regulations and submit it for approval.

Takes 1 to 2 days

03   Submit Application for Initial Approval 

Complete the initial application form and submit it along with required documents.

Takes 2 to 3 days

04 Receive Initial Approval 

Once the documents are submitted, the free zone authority will review the application for initial approval.

Takes 3 to 5 days

05 Prepare Legal Documents 

Draft the Memorandum of Association (MoA) and any other necessary legal documents, RAKEZ provides templates to assist in this process.

Takes 3 to 5 days

06 Select Office Space 

Choose from RAKEZ’s various office solutions based on your business needs.

Takes 1 to 2 days

07  Payment of Fees 

Pay the required fees for your business license, office space, and any additional charges.

Takes 1 to 2 days

08 Obtain Business License

After submitting all necessary documents and payment, you will receive your business license from RAKEZ.

Takes 1 to 3 days

09Visa Application Process 

Apply for UAE residency visas for shareholders and employees. 

Takes 2 to 4 weeks

Documents Required in RAKEZ Free Zone

Required documents vary based on the legal structure of the business: FZE, FZCO and Branch Office.

Document Type FZE (Free Zone Establishment) FZCO (Free Zone Company) Branch Office
Passport copies of shareholders Required (single shareholder) Required (multiple shareholders) Parent company’s directors/shareholders
Passport copies of managers Required Required Required
Personal Information Form Required for shareholder and manager Required for all shareholders and manager Required for branch manager
Visa/Emirates ID copies (for UAE residents) Required if applicable Required if applicable Required if applicable
Business Plan Required for certain activities Required for certain activities Required for certain activities
Board Resolution (Parent Company) Not applicable Not applicable Required (to establish branch)
Certificate of Incorporation (Parent Company) Not applicable Not applicable Required
Memorandum and Articles of Association Standard MOA provided by RAKEZ Standard MOA provided by RAKEZ Parent company’s MOA required
Shareholder Resolution Required for company establishment Required for company establishment Not applicable
Lease Agreement Required (for office or warehouse space) Required Required
Company Name Reservation Required Required Required
No Objection Letter (if applicable) For UAE residents if applicable For UAE residents if applicable For UAE residents if applicable
Bank Reference Letter Required (for shareholder) Required (for all shareholders) Not applicable

License Cost in RAKEZ Free Zone 

The cost of setting up a business in the RAKEZ Free Zone varies depending on the type of license you require, the starting price of all licenses is AED 6,000.

In addition to the license fees, other potential costs include office space, which can vary significantly based on location and size. Local sponsor fees if applicable and visa and permit costs also add to the overall expenses.

*Note the price is an estimate and will vary in reality. For an accurate cost breakdown, get in touch with our consultants.

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