Ras Al Khaimah Economic Zone (RAKEZ), was established by combining two Free Zones, RAK Free Zone and RAK Investment Authority, resulting in the creation of a significantly large economic zone and well-known place for business with
Among the free zones available for business establishment in the UAE, RAKEZ is widely recognized and sought after, even by those less familiar with UAE's free zone offerings. Its strategic location, situated near RAK Airport and with a nearby seaport, adds to its appeal.
RAKEZ Free Zone offering a wide range of business benefits to entrepreneurs and investors. With its strategic location, state-of-the-art facilities, and supportive business environment, RAKEZ is the ideal destination for businesses of all sizes to set up and thrive. Here are just a few of the benefits of setting up your business in RAKEZ Free Zone:
Ras Al Khaimah Economic Zone accommodates a diverse array of businesses, which include entrepreneurs, small and medium-sized enterprises, freelancers, startups, and manufacturers. It serves as a global-scale business and industrial hub, spanning more than 50 industry sectors, and offers solutions for both free zone and non-free zone company formations.
RAKEZ is a leading free zone in the UAE, offering a wide range of business benefits to entrepreneurs and investors. It is home to over 18,000 companies from over 135 countries, representing over 50 industry sectors. Here are some of the most prominent companies in RAKEZ:
Ras Al Khaimah Economic Zone (RAKEZ) free zone allows a wide range of business activities, including trading, manufacturing, consulting, and service-based businesses. Certain professions necessitate that a company manager possesses a suitable educational qualification, which must be verified through a certificate that has been authenticated by the UAE Embassy in the manager's home country.
You can establish your business in Ras Al Khaimah Economic Zone (RAKEZ) in approximately a week. While you need to make a personal visit, you don't have to travel to Ras Al Khaimah itself; you can visit the zone's representative office located in Dubai. To set up your business in RAKEZ Free Zone, simply follow these steps:
Make a choice regarding the kind of company you wish to establish, whether it's a Free Zone Establishment (FZE), Free Zone Company (FZC), or a Branch of a Foreign Company. Each of these company types comes with distinct conditions and advantages, so it's crucial to grasp these variances and opt for the one that aligns most effectively with your specific requirements.
In RAKEZ Free Zone, you have the flexibility to engage in various business activities, such as trading, manufacturing, consulting, and service-oriented enterprises. It's crucial to select a business activity that matches your skills and interests. Additionally, it's wise to assess the local market to ensure there is a demand for the specific business activity you opt for. Conduct thorough market research to gauge whether the region requires the services or products associated with your chosen business activity.
Select an original name for your company that adheres to the naming regulations and standards of the RAKEZ Free Zone Authority. Your chosen name should avoid offensive or religiously sensitive terms, and it should not resemble an existing company's name.
After deciding on a name, it is crucial to secure it through the RAKEZ Free Zone Authority. This action will safeguard your exclusive use of the name, preventing others from using it. You can reserve your company name for a period of up to 90 days.
To obtain a Trade License in RAKEZ, you should start by providing essential documents like the company registration form, a business plan, and the passport copies of shareholders and managers. This specific license from RAKEZ Free Zone grants you the legal authority to carry out business operations within RAKEZ. The license will outline the specific business activities you are permitted to engage in. After you've completed your trade license application and made the required payments, the RAKEZ Free Zone Authority will assess your application.
Secure the essential permissions from the appropriate government bodies, like the Department of Economic Development, the Ministry of Economy, and the Chamber of Commerce. Depending on your specific business operations, you might also require additional clearances from other government entities. It's crucial to make sure you have all the necessary permissions in place before commencing your business activities to steer clear of any legal complications or fines.
Leasing office space within the RAKEZ Free Zone provides various choices, whether you require a flexible workspace, an executive office, or a warehouse, all tailored to your business's specific needs. RAKEZ Free Zone's company setup offers a diverse array of solutions that can accommodate a range of business requirements and financial considerations.
The costs associated with renting office space and warehouses can differ based on factors such as location, size, and facility type. RAKEZ Free Zone is committed to providing competitive pricing and adaptable lease terms that can be customized to suit the unique demands of various businesses.
After you've secured the required approvals and permits, you can move forward with the process of applying for work permits and visas for your staff. It's important to note that the procedure for registering employees and obtaining work permits and visas can differ based on the specific type of visa and the home country of the employees. It's essential to obtain the necessary approvals and permits from the RAKEZ Free Zone Authority before bringing new employees on board.
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RAKEZ Free Zone offers a wide range of business benefits, including 100% foreign ownership, 0% corporate tax, state-of-the-art facilities, and a supportive business environment. Its strategic location and accessibility make it an attractive choice for businesses of all sizes and industries.
Starting your business in RAKEZ Free Zone comes with several advantages, such as the ability to form both free zone and non-free zone companies, quick and streamlined business establishment procedures, extensive business and industrial amenities, and options for on-site employee accommodations. Additionally, you can access a comprehensive center for government-related services and a user-friendly client portal.
RAKEZ offers various zones, including Al Nakheel Business Zone, Al Hulaila Industrial Zone, RAKEZ Academic Zone, Al Hamra Business Zone, Al Hamra Industrial Zone, and Al Ghail Industrial Zone. Each zone caters to different business needs, from freelancers and SMEs to heavy industry producers and academic institutions.
RAKEZ Free Zone allows a wide range of business activities, such as trading, manufacturing, consulting, service-based businesses, educational activities, e-commerce, media activities, professional services, and more. Some activities may require specific educational qualifications.
To set up a business in RAKEZ Free Zone, you need to choose the type of company, select a business activity, secure a unique company name, apply for a trade license, obtain the necessary permissions, lease an office space, and apply for visas and work permits. The process can typically be completed in about a week.
When selecting a business activity, consider your skills and interests, as well as the local market demand for the chosen activity. Conduct market research to ensure there is a need for your services or products in the region. Make sure the activity aligns with your specific business requirements.