RAKEZ stands for Ras Al Khaimah Economic Zone. It was established after the consolidation of 2 free zones – RAK Free Zone and RAK Investment Authority, which made the zone really huge.
It is one of the most popular free zones for business setup in the UAE – even people who have not heard much of UAE free zones, know about it and are interested in business setup in Ras Al Khaimah. It is situated not far from RAK Airport and has a seaport in close proximity, which makes for a very strategic location.
RAKEZ consists of 6 different field-specific zones.
Ras Al Khaimah Economic Zone is home to over 18,000 companies including entrepreneurs, SMEs, freelancers, startups, and manufacturers. It is a global-scale business and industrial hub covering over 50 industry sectors and providing free zone and non-free zone company formation solutions.
Ras Al Khaimah company formation would be a good option for any business, but it’s specifically suitable for companies that need warehousing facilities.
RAKEZ is one of the few free zones that always has customizable warehouses and plots of industrial land for development. You can also build or rent ready-made staff and labor accommodations. They have all the benefits that Jebel Ali company setup offers but suit much smaller budgets.
Ras Al Khaimah Economic Zone has offices in RAK and Abu Dhabi. You can opt for a flexi-desk or a smart office in any of these Emirates. In Abu Dhabi, the cost will be about 2,000 AED higher. Office types vary from co-working spaces with flexi-desks to executive offices and are tied to the number of eligible visas.
Ras Al Khaimah business license can be obtained for a huge variety of business activities, and you can be sure that you will find what you need.
The activity array of RAKEZ is one of the largest among all the UAE free zones. Activities are divided into license categories that in turn are divided into multiple groups, each with its own activity list.
Some activities require a company manager to have a relevant educational degree, which should be proved by a certificate attested in UAE Embassy in the country of origin. Usually such activities are related to a professional service that requires certain qualifications, for example:
RAKEZ has enforced substance requirements and many activities now fall under it. They will need to be registered under special conditions, such as:
Here is the list of licenses offered by RAKEZ:
Ras Al Khaimah Free Trade Zone Authority often runs promotions and discount campaigns. The prices are reasonable starting from 5,499 AED for a zero-visa company with a 1-year contract.
RAKEZ also has a special product for women called BusinessWomen with prices 40% lower than usual. If you are a woman, you can pick any package and any activity and simply pay less!
Apart from that, if you want to save money in the long run, you can register a 3-year package. The discount in this case will be 25%. On top of that, all resident visas under the company will be free of charge.
RAKEZ cheapest license package fees:
Type of licence | Cost, AED |
---|---|
Zero-visa Commercial/Services/Media/E-Commerce/Education package | 5,499 |
1 visa Individual/Professional package | 13,000 |
1 visa Commercial/Services/Media/E-Commerce/Education package | 13,500 |
In addition, the 1 visa starter package allows for a combination of General Trading and E-Commerce licenses. You can choose either of them as the primary license, and the other one will come free of charge.
Business setup in Ras Al Khaimah can be done within about a week. Your personal visit will be required, but you don’t have to go all the way to Ras Al Khaimah - you can visit the zone’s representative office in Dubai.
Company formation types in RAKEZ include FZEs (Free Zone Establishments) with a single shareholder, FZCs (Free Zone Company) with 2-5 shareholders, and branches of both local and foreign companies.
RAKEZ also has international offices in India, Turkey, and Germany, where your application can be filed.
The Ras Al Khaimah company register is not open to the public and kept confidential.
In case your setup is rejected due to any force majeure reason after you have made the payment to the free zone, you will be granted a 100% refund.
Packages start with zero visas and go up to 4 visas in case you rent a ready-made executive office. Of course, if you rent a warehouse, for example, your company will be eligible for more visas since you’ll need to hire more staff.
RAKEZ visa costs in AED:
RAKEZ fee, AED | Medical checkup, AED | Emirates ID, AED | |
---|---|---|---|
Investor | 3,850 | 300 | 370 |
Employee | 3,800 + 2,000 deposit | 300 | 370 |
Health insurance is not mandatory for RAKEZ company owners, but it will be required for the dependents in case you open visas for your family members.
Ras Al Khaimah business license renewal costs 1,000 AED less than the incorporation. Renewal can be done without the personal presence of the shareholder.
RAKEZ requires financial audits of the companies. You need to submit it at the end of your financial year, which would be December by default or another month of your choice.
The company can be amended at any time. The most frequently happening amendments include the following changes:
Personal presence of the shareholder or manager is required for the application for the amendments.
Ras Al Khaimah free trade zone company liquidation takes about 3-4 weeks. Make sure to cancel all the visas under the company before you apply for its liquidation.
The government cost of company closure is 3,500 AED.
Overall, we usually recommend RAKEZ to those who are looking to open an industrial, manufacturing, or assembling business due to its ready-made facilities. It can also be recommended to individual professionals, startups, and SMEs as it offers flexi-desks, co-working spaces, and offices.
Apart from that, if you want to have a physical office and do not require a location near Dubai, RAKEZ would be a perfect choice as well.
If you are residing in Abu Dhabi and want to have an office facility with a reasonable price there, RAKEZ is also the free zone of your choice.
If you want to check other options, have a look at SHAMS company formation as a possible alternative.
Up to 2 years visa
LICENSE TYPE | VISAS INCLUDED | TOTAL COST | |
---|---|---|---|
Freelance permit | 1 year visas | AED 17,070 $4,800 | download breakdown |
Freelance permit | 2 years visas | AED 22,920 $6,300 | download breakdown |
Up to 4 visas company – commercial, service, e-commerce, media, educational
LICENSE TYPE | VISAS INCLUDED | TOTAL COST | |
---|---|---|---|
Commercial/Service/E-Commerce/Media/Educational license | no visas | AED 17,840 $4,900 | download breakdown |
Commercial/Service/E-Commerce/Media/Educational license | 1 visa | AED 27,465 $7,550 | download breakdown |
Commercial/Service/E-Commerce/Media/Educational license | 2 visas | AED 36,491 $10,000 | download breakdown |
Commercial/Service/E-Commerce/Media/Educational license | 3 visas | AED 47,530 $13,050 | download breakdown |
Commercial/Service/E-Commerce/Media/Educational license | 4 visas | AED 54,426 $14,950 | download breakdown |
Up to 6 visas company – commercial, service, e-commerce, media, educational
LICENSE TYPE | VISAS INCLUDED | TOTAL COST | |
---|---|---|---|
Commercial/Service/E-Commerce/Media/Educational license | 5 visas | AED 70,818 $19,400 | download breakdown |
Commercial/Service/E-Commerce/Media/Educational license | 6 visas | AED 77,764 $21,350 | download breakdown |
Up to 2 visas company
LICENSE TYPE | VISAS INCLUDED | TOTAL COST | |
---|---|---|---|
General Trading - Flexi Desk | 1 visa | AED 37,202 $10,200 | download breakdown |
General Trading - Flexi Desk | 2 visas | AED 44,148 $12,100 | download breakdown |
Up to 4 visas company
LICENSE TYPE | VISAS INCLUDED | TOTAL COST | |
---|---|---|---|
General Trading - Flexi Desk | 1 visa | AED 39,587 $10,850 | download breakdown |
General Trading - Flexi Desk | 2 visas | AED 46,958 $12,900 | download breakdown |
General Trading - Flexi Desk | 3 visas | AED 53,780 $14,750 | download breakdown |
General Trading - Flexi Desk | 4 visas | AED 60,426 $16,550 | download breakdown |
Up to 6 visas company
LICENSE TYPE | VISAS INCLUDED | TOTAL COST | |
---|---|---|---|
General Trading - Flexi Desk | 5 visas | AED 77,818 $21,350 | download breakdown |
General Trading - Flexi Desk | 6 visas | AED 84,764 $23,250 | download breakdown |
Up to 1 visa freelance
LICENSE TYPE | VISAS INCLUDED | TOTAL COST | |
---|---|---|---|
Freelance permit | 1 visa | AED 10,101 $2,750 | download breakdown |
1 year license
LICENSE TYPE | VISAS INCLUDED | TOTAL COST | |
---|---|---|---|
License Women in power - Service. Trading | no visa | AED 14,980 $4,150 | download breakdown |
License Women in power - Service. Trading | 1 visa | AED 27,448 $7,520 | download breakdown |
License Women in power - Service. Trading | 2 visas | AED 35,954 $9,850 | download breakdown |
License Women in power - Service. Trading | 3 visas | AED 45,184 $12,400 | download breakdown |
License Women in power - Service. Trading | 4 visas | AED 52,130 $14,300 | download breakdown |
License Women in power - Service. Trading | 5 visas | AED 62,554 $17,150 | download breakdown |
License Women in power - Service. Trading | 6 visas | AED 69,500 $19,050 | download breakdown |
3 years license with 40% discount and free investor visa options
LICENSE TYPE | VISAS INCLUDED | TOTAL COST | |
---|---|---|---|
License Women in power - Service. Trading | 1 visa | AED 43,187 $11,850 | download breakdown |
License Women in power - Service. Trading | 2 visas | AED 54,423 $14,950 | download breakdown |
License Women in power - Service. Trading | 3 visas | AED 66,540 $18,200 | download breakdown |
License Women in power - Service. Trading | 4 visas | AED 73,486 $20,150 | download breakdown |
License Women in power - Service. Trading | 5 visas | AED 89,528 $24,550 | download breakdown |
License Women in power - Service. Trading | 6 visas | AED 96,474 $26,450 | download breakdown |
INDIVIDUAL SHAREHOLDER
Top 10 questions about RAK Economic Zone company
No, a personal visit to the UAE is required as per the regulations of the UAE Central Bank. Local banks require this visit to verify the client's identity.
In most cases, you can obtain a debit card for your newly opened company, especially if there is only one shareholder. However, a credit card is usually issued against a fixed deposit. As for loans, banks may consider your eligibility based on your company's operations and profits. It is recommended to apply for a loan after at least one year of company operations.
Officially, the office of a free zone company should be located within the free zone where it is registered. However, if you need an office in Dubai, you have the option to rent space in a Business Center and use it on a flexible basis. It is important to note that the minimum required space (flexi desk) in the free zone cannot be canceled.
A flexi desk is a mandatory requirement for any company eligible for resident visas. It serves as the minimum physical office space that a company with individuals under its visa must have. Additionally, a flexi desk can facilitate bank account opening as banks require evidence of a company having some form of office or physical presence.
VAT obligations depend not only on the place of registration but also on where the business activities take place. VAT becomes applicable when the taxable turnover reaches AED 375,000. If a free zone company's trading activities take place abroad, the turnover is not considered taxable as long as the transactions occur outside the UAE. However, if goods are imported to the UAE, VAT at a rate of 5% must be added to invoices and paid.
The UAE is free from income tax. However, there is a 5% import tax on goods brought into the country and a 5% VAT on trading or service transactions that occur within the UAE.
On June 1, 2023, the UAE introduced 9% corporate tax, however, companies registered in UAE free zones are exempt from this tax if they do not make profits from activities on the UAE mainland or this profit is less than AED 375,000 per year. Branches of companies registered in free zones and carrying out activities on the mainland will be taxed at the mainland rate.
The suitability of a free zone company versus an offshore or mainland entity depends on your business model and requirements. However, a free zone setup offers advantages such as 100% foreign ownership, eligibility for resident visas, the ability to conduct business both within and outside the UAE, and greater favorability with banks compared to offshore companies. Additionally, free zones often offer flexi desk spaces instead of executive offices, making it a cost-effective way to start a business without unnecessary obligations.
While we strive to make the account opening process as smooth as possible, we cannot guarantee the approval as it ultimately depends on the bank. Each case goes through several bank departments for approval, and the bank may contact you directly for clarifications. Providing a clear picture of your business to the bank increases the chances of successful account opening. We do our best to prepare you and your company for a smooth and fast account opening process.
Your company should be renewed annually, and the cost is typically lower than the initial setup cost. The renewal fees depend on your company package, and you can obtain the price by downloading the Estimate from our website. Company renewal does not require the personal presence of the owner and can be done by your agent. After renewal, the new license must be presented to the bank to extend the bank account, which is included in our renewal service.
You have multiple options for fee payment. You can make payments via bank transfer, cash, or online using a card.
How can we contact you?