Registering your company in RAKEZ
There are various options and jurisdictions to select from for your business setup in UAE free zones.
There are over 50 free zones spread across the different Emirates for your business setup in UAE.
Ras Al Khaimah Economic Zone (RAKEZ) is a free zone located in the Emirate of Ras Al Khaimah. It was formed after 2 free zones merged: RAK free zone and RAK Investment Authority. It is a reputable and well known free zone in the UAE.
For those nationalities that are considered as high risk (Syria, Bangladesh, Lebanon, Egypt, etc) and want to get UAE residency and business setup in free zones, Rakez Ras Al Khaimah economic zone gives high chances to get an approval of a visa with one resident visa package.
Other benefits include:
- Reasonably priced executive offices with 2 locations: in Ras Al Khaimah and flexi desks in Abu Dhabi.
- One of the widest varieties of business activities for investors to choose from.
- Option of holding real estate property in Dubai
- Access to a seaport which is located within RAKEZ free zone.
- Readily available warehouse sheds of various sizes from 150sqm with 1 visa provision per 15sqm.
- Packages with flexi desk facilities do not require e-channel deposit.
Ras Al Khaimah Economic Zone offers a variety of trade licenses to investors:
- Commercial License: This includes trading activities such as import, export, storage and warehousing of goods.
- E-Commerce License: This includes trading of goods and services conducted online or over electronic networks.
- General Trading License: This includes trading of multiple goods.
- Services License: This license is for consulting or service business activities such as management consultancy, legal, insurance, accounting, etc.
- Industrial License: This has to do with manufacturing of goods, assembling, import of raw materials, processing, exporting of finished goods.
- Media License: This license is for those conducting media related activities.
- Individual/Professional License: This is issued for only one owner with one business activity in one specific area of expertise.
- Educational License: This is issued for educational support services, management training to education providers such as universities.
Facilities in RAKEZ
Whether you are a startup or an entrepreneur, RAKEZ offers a wide variety of facilities. From shared workstations in the business centers, private office spaces, underdeveloped facilities that can be customized according to your needs to unlimited land space to build facilities. These facilities include:
- Flexi Desks and Offices
- Standard and Executive Offices
- Shell and Core Offices
- Industrial Land
RAKEZ offers male staff and laborers in Al Hamra and Hulailah industrial zones convenient on-site accommodation.
Legal entities in RAKEZ
- Free Zone Establishment
- Free Zone Company
- Branch of a Local Company
- Branch of a Foreign Company
Business setup in Ras Al Khaimah takes around 2 weeks. Your physical presence will be needed one time to sign the company documents.
Ras Al Khaimah trade license cost starts from 11,440 AED for a zero visa company. This license comes with a flexi desk, which is the minimum office space requirement.
In Ras Al Khaimah free trade zone, there are favorable and cost-efficient packages available for females, called Business Women Product. The trade license cost for them starts from 8,580 AED for a zero visa company.
The documents required for a new registration include:
- Application form for Free Zone Entity (FZE) or Free Zone Limited Liability Company (FZLLC)
- Passport copies of Shareholder and Manager
- Latest visa copy or UAE immigration stamp of Shareholders and Managers
- No Objection Certificate (NOC) letter from sponsor if Manager holds a valid UAE resident visa
- Other required documents or third party approvals.
The license packages start with zero visas up to 6 visas with bigger offices of 16-24sqm which provide more space for growth.
The investor visa costs 3,950 AED with medical check up of 637 AED and Emirates ID 370 AED. Employee visa is 2,400 AED and requires a 2,000 AED deposit to the immigration, with medicals of 670 AED and Emirates ID 270 AED.
When it comes to the renewal in RAKEZ, your personal presence is not required. A financial audit is required to be submitted at the end of the financial year. The license renewal cost is usually 1,000 AED less than the the license cost during incorporation.