RAS Al Khaimah Economic Free Zone (RAKEZ) Business Setup
Pricing for - (RAKEZ) RAS Al Khaimah Economic Zone
About Ras Al Khaimah Economic Zone (RAKEZ)
(DAFZA)
Located in Ras Al Khaimah, RAKEZ is a business and industrial centre that covers five zones: Al Ghail Industrial Zone, Al Hamra Industrial Zone, RAKEZ Academic Zone, Al Hulaila Industrial Zone, and RAKEZ Business Zone.
RAKEZ is open to businesses of all sizes, ranging from freelancers and startups to multinational companies across more than 50 industries.
Prices start from AED 11,500
Average business setup time: 5-7 days
Benefits of setting up a company in – (RAKEZ) Ras Al Khaimah Economic Zone
100% Business Ownership And Capital Repatriation
- As an expatriate, you can own 100% of the company and remit all profits to your home country.
Strategic Location
- RAKEZ has the highest level of industrialization in the UAE and provides easy market access.
Open TO All
- RAKEZ provides various types of licenses, such as commercial, educational, e-commerce, general trading, and other services.
One-Stop-Shop
- RAKEZ provides visa and contract assistance, as well as various other government services in its zones.
Plenty Of Scope
- At RAKEZ, you can choose from a range of warehouse spaces to rent or build new ones.
RAKEZ Business Activities
RAKEZ – Ras Al Khaimah Economic Zone welcomes a range of financial and professional business activities. Here are some of the most popular options:
Consultancy
Oil and Gas Trading
E-Trading/E-Commerce
Accounting and Bookkeeping
Media
Hospitality
Insurance Services
Trading of Various Activities
Import and Export
Advertising
Web Design
Marketing
Manufacturing
Travel Agency
Translation Services
Physical Presence Requirement
You do not have to be physically present to complete your company’s setup process.
RAKEZ Free Zone: What You Need to Know
The United Arab Emirates (UAE) is a popular destination for business, with over 40,000 new business licenses being issued each year. And that’s not to mention all the license renewals that the government processes!
With so many businesses starting up in the area, you’re probably wondering what the fuss is about and which free zone is the best to start your business in.
We recommend checking out the RAKEZ free zone. In this guide, we will discuss everything you need to know about this free zone.
What Is the RAKEZ Free Zone?
The RAKEZ free zone, which stands for Ras Al Khaimah Economic Zone, is located in the heart of Ras Al Khaimah and is a thriving industrial hub, welcoming numerous businesses each year.
RAKEZ provides an ideal environment for small businesses, freelancers and multinational corporations to grow and flourish. It is a perfect place for anyone who wants to start a successful business and avoid high taxes.
The free zone is known for providing tailor-made solutions to companies and their clients due to its numerous sectors. It is a diverse community where authorities support all kinds of businesses in their setup process.
One of the significant advantages of this remarkable free zone is its friendly business laws and regulations that make it easy, fast, and convenient to start a business. This makes it an ideal place for those looking for a quick and straightforward entry to the market.
What Does RAKEZ Offer Businesses?
The RAKEZ free zone offers four key pillars that make it an ideal location for entrepreneurs to establish their businesses. In this text, we’ll explore each of these pillars and discuss why they make RAKEZ such a great spot for business.
Diversification
RAKEZ caters to a diverse range of industries, providing a platform for SMEs, entrepreneurs, manufacturers, traders, logistics teams, and startups to establish themselves and gain access to international markets.
Customization
Another reason that RAKEZ is such a popular free zone is that the government offers tons of different packages for clients. There are many resources and options available for business owners to launch their companies in this zone.
Cost-Effective
Beginning a business in a free zone can be an expensive endeavour. However, the RAKEZ free zone offers a more affordable alternative. Compared to other areas in the UAE, the financial requirements to start a business in the RAKEZ-free zone are much lower.
Process Efficiency
In RAKEZ, it’s easy for you to get access to business services. It’s also easy for you to start your business operations, making it a place where companies can maximize process efficiency.
Why You Should Start a Company in RAKEZ
Now that you have learned about the services RAKEZ provides to businesses let’s discuss why you should consider settling in the RAKEZ free zone. There are four significant reasons why this free zone is considered one of the best in the UAE.
Growing Popularity
RAKEZ has recently gained a lot of popularity among entrepreneurs and business people. The result is that business in the area is booming and has even received several prestigious awards for its business contributions.
Customized Warehouse Solutions
Warehousing solutions of varying sizes are widely available in RAKEZ for all types of business licenses, making it easy to find the right warehouse for your products.
Proximity to Seaports and Airports
RAKEZ boasts excellent airport and seaport facilities, making it effortless for business owners to import and export goods and services. The RAK International Airport and Saqr Port are the two largest ports in the region.
Cost-Effective Financing
Starting a business can be a daunting task, especially due to high startup costs. However, in RAKEZ, you’ll find that there are numerous financing options available to help you get started.
Moreover, RAKEZ offers business grants and loans to new companies. You can receive financing of up to 40% of your business to help you get your operations off the ground.
The Benefits of Starting a Company in RAKEZ
There are numerous benefits to starting a company in RAKEZ, a UAE-free zone. Let’s take a look at some of the amazing advantages of opening a business in this zone.
Firstly, you will have complete ownership of your company, which is an excellent benefit. Additionally, you will receive full tax exemption for both your personal and corporate income.
Moreover, you can enjoy total profit and capital repatriation, and you will have access to a fast and straightforward business set-up process for receiving residence and visas in the UAE.
RAKEZ also provides businesses with low-cost solutions for storage and leasing. Moreover, the zone does not charge customs duty on any goods that you are re-exporting.
Another significant benefit is that the zone is situated next to both world-class airports and seaports. Furthermore, it provides a large number of Flexi-desk opportunities for jet-setting business owners.
Types of Business Licenses in RAKEZ
To establish a company in the RAKEZ free zone, you must obtain a business license. There are various types of business licenses available. Let’s take a look at them.
Commercial License
The first type of license is a commercial license, which permits businesses to engage in trading activities such as importing, exporting, warehousing, and product storage.
General Trading License
General trading licenses are a broad category of business licenses. These licenses allow businesses to perform a wide range of activities.
Industrial License
This license permits you to engage in various industrial activities such as manufacturing, importing raw materials, assembling, processing, and exporting completed products.
Professional License
Professional licenses are issued to business owners with specialized experience to perform a single type of business activity.
Consultancy License
Service businesses may obtain consultancy licenses to provide various consulting services, including management, legal, and accounting services for their clients.
Media License
If you want to work in the media industry, such as photography or music, you will need a media license.
E-Commerce License
Anyone wanting to trade goods and services digitally will need an e-commerce license. This lets you legally perform these actions in an electronic network within the RAKEZ free zone.
Education License
If you’ll be running an educational business or educational support service, get an education license. Universities or language institutions are examples of businesses that need this license.
How to Start a Company in RAKEZ
If you intend to open a company in the RAKEZ free zone, it is essential to have a clear understanding of the setup process. This includes knowing the necessary documents you will need to launch your new business. Let’s take a closer look at the process of starting a company in RAKEZ free zone.
Step One: Choose Your Business Activity
The first step to starting a company in RAKEZ is to select which business activity you want to engage in. There are various options available, such as:
- Professional
- Service
- Educational
- Industrial
- Commercial
Step Two: Select a Business Name
Next, you’ll need to select a name for your business. When naming your business, avoid religious references and offensive content. The next thing is to Verify availability before starting the paperwork.
Step Three: Apply for Your Business License
After finalizing your business name, the next step is to obtain a business license. To do so, you need to submit your passport, a color photo, your business plan, and a completed business license application. Once you have prepared all the documents, send them to the RAKEZ managing authority.
Step Four: Get Your Visa
You can’t operate a UAE business without having a visa. You and anyone you’ll work with need a visa to operate a business in the UAE. After obtaining a business license, apply for visas with your managers.
Step Five: Open a Bank Account
When opening a bank account for your business, you will need to present your visa, Emirates ID, and business documents. If you have a business partner, they will also need to be present.
The Required Documents for Starting a RAKEZ Business
If you’re planning to initiate the RAKEZ free zone business formation process, there are some documents that you need to have at hand. These documents are necessary for getting your business license, which will allow you to kickstart your operations.
It’s important to note that the exact documents required may vary depending on the type of business and the business activity you’ll be engaging in. Additionally, some documents may require third-party approvals.
In general, you’ll need to ensure that you have the following key documents:
- The application form to start either a Free Zone Limited Liability Company or to start a Free Zone Entity
- Copies of the manager's and shareholders' passports
- Copies of the manager and shareholders' UAE immigration stamp
- A No Objection Certificate from the business sponsor
The License Renewal Process in RAKEZ
If you have already received your business license in UAE and now need to renew it, there is a separate process that you need to follow. However, you don’t need to be physically present in UAE for this process.
To renew your license, you need to submit your documents and make the payment for license renewal. The renewal fee is usually lower than the cost of the original business license.
To begin the process, you need to obtain an invoice for your license renewal. Once you have the invoice, make the payment to renew your business license.
Next, you need to get your lease agreement written and signed. Submit a copy of the lease agreement along with your renewal documents and application to the governing body of RAKEZ.
Once your lease agreement is approved, you can collect your renewed business license and other necessary documents from the government.
Why You Should Use Gulf Gateway CSP to Start Your Business
Partnering with Gulf Gateway CSP to establish your business in the Ras Al Khaimah Economic Zone will help you avoid several tedious procedures that may slow down the process and delay the launch of your company. Moreover, you will receive expert guidance and support throughout the entire process.
Years of Experience
Gulf Gateway CSP has been providing professional assistance to businesses looking to launch their operations in the RAKEZ free zone and throughout the UAE for several years. With decades of experience in this field, our team is well-equipped to offer expert recommendations and guidance to business owners that is unparalleled in the market.
Broad Range of Services
Our team provides a wide range of services to new and established businesses in the UAE, regardless of the free zone they are in. Some of the services we offer include:
- Visa assistance
- Business setup
- Business dissolution
- Corporate services
With our assistance, you can successfully launch and manage your company in RAKEZ.
Fantastic Reviews
Our previous clients have shared positive feedback about their experience with us. If you go through our reviews, you’ll notice that we have a reputation for being experts in assisting people with the RAKEZ business formation process.
Start Your Rakez Free Zone Business Today
Now that you have gained some knowledge about the RAKEZ free zone, setting up your own company there should be easier for you. You can use this guide to navigate the complex process of starting a business in the area.
Do you require any assistance to get started? Feel free to contact the team at Gulf Gateway CSP and we will guide you in setting up your business in RAKEZ.
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Call +971 56 866 3666 or fill out the form to schedule a consultation with one of our Business Setup Advisors.
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United Arab Emirates
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