Ras Al Khaimah Economic Zone (RAKEZ)
Business Setup in Rakez Free Zone
What is RAKEZ Free Zone?
The Ras Al Khaimah Economic Zone (RAKEZ) was built in the epicenter of the Ras Al Khaimah emirate, UAE. It is a prominent industrial core and a powerhouse in business. The community of more than 23,000 companies thrives throughout more than 50 sectors.
It is an initiative by the Ras Al Khaimah government taken to assist businessmen, small and medium-sized enterprises, and entrepreneurs with the standards and procedures for setting up their businesses. It functions as a business licensing body that offers free zone and non-free zone enterprises with tailored solutions for UAE company creation.
The strategic location of Ras Al Khaimah Economic Zone connects investors to growing markets of the Middle East, North Africa (MENA), Europe and South Asia.
Why Setup a Business in RAKEZ Free Zone?
RAKEZ is an industrial hub in the UAE that offers unique prospects to free-zone and non-free zone companies. Setup your business in the Ras al Khaimah economic zone and enjoy the following advantages:
- Ras Al Khaimah Economic Zone offers an easy and simple business registration process— a business you can own completely with 100% foreign ownership.
- In RAKEZ, you can Setup free zone and non-free zone entities.
- Business setup process is simple and efficient.
- Transparent business rules and regulations, so you are not in the dark.
- You do not have to pay personal or income tax.
- Less corporate tax rates.
- Another benefit of having a business in Ras Al Khaimah Economic Zone is that it has connectivity to major logistical hubs.
- Wide-ranging business and industrial facilities.
- Easy access to markets across MENA, Europe, and Asia.
Legal Entities in Ras Al Khaimah Economic Zone
Types of legal entities in Ras Al Khaimah Economic Zone:
1. Freezone Entity
- Freezone Limited Liability Company (FZ LLC)
- 1-50 Shareholders
2. Non-Freezone Entity
- Individual Establishment (Sole Owner)
- Limited liability Company (2-50 Shareholders)
Which Business Licenses Are Offered by RAKEZ?
Business licenses in RAKEZ are based on the services your business offers. These licenses are:
| Licenses | Free Zone | Non-Freezone |
|---|---|---|
| 1. Commercial Trading in services and goods | ✓ | ✓ |
| 2. E-Commerce Trading in services and goods online | ✓ | |
| 3. Educational Opening an education-related institution or consultancy | ✓ | |
| 4. General Trading Trading in multiple goods | ✓ | |
| 5. Individual/Professional One owner with specific expertise | ✓ | |
| 6. Professional Providing professional services | ✓ | |
| 7. Industrial Manufacturing, importing, packaging & exporting goods | ✓ | ✓ |
| 8. Media Media-related business activities | ✓ | |
| 9. Services Conducting services or consultancy | ✓ | |
| 10. Freelancer Permit For individuals in media or education industry | ✓ |
How to Setup a Business in RAKEZ?
Company setup in Ras Al Khaimah Economic Zone is very easy and simple. Here are the steps
Step 1: Choose Business Activity
Identifying your business activity is the first step for setting up a company in Ras al Khaimah Economic Zone.
RAKEZ Free Zone is divided into 6 zones based on the business activities of the companies.
- Al Hamra Business Zone
- Al Nakheel Business Zone
- Al Hamra Industrial Zone
- Al Ghail Industrial Zone
- Al Hulaila Industrial Zone
- RAKEZ Academic Zone
Step 2: Company Name Registration
The registration of your company name is the next stage in company formation process. Your selected name has to be authorized by the RAKEZ free zone authority and shouldn’t violate any current copyrights or trademarks.
Step 3: Apply for a license
Obtaining a license is an essential step in Ras Al Khaimah Economic Zone company formation process. The kind of license you need is determined by the nature of your business.
Documents Required To Setup a Company in RAKEZ
| Documents | Free Zone LLC | Non-Freezone |
|---|---|---|
| Application for Registration and Licensing | ✓ | ✓ |
| Application for Chamber of Commerce Membership | ✓ | |
| Application for Registration with DED | ✓ | |
| Visa copy / entry stamp of shareholders | ✓ | ✓ |
| Emirates ID of UAE shareholder or local service agent | ✓ | |
| Colour passport copy of shareholders | ✓ | ✓ |
| Emirates ID copy of Shareholders, General manager (if applicable) | ✓ | ✓ |
Frequently Asked questions
Q1. What are the available business facilities in RAKEZ?
Ans: The following are the facilities:
- Coworking Space
- Serviced Offices
- Standard Offices
- Executive Offices
- Shell & Core
- Warehouses for Development
- Staff & Labour Accommodation
Q2. WHAT KIND OF ACTIVITIES THAT ARE ALLOWED IN RAKEZ?
Ans: Hundreds of activities are allowed from 50 plus industry sectors including manufacturing, energy, technology, healthcare, aviation, shipping, education, media, professional services as well as personal and community services
Wrap UP : Setup Your Business in RAKEZ
Ras al Khaimah economic zone is full of opportunities. RAKEZ prime location connect businesses to markets across MENA, Europe and Asia with brilliant infrastructure.
The firms can be registered with RAKEZ as a free zone entity and a non-freezone entity. RFZ Corporate Services Provide helps you set up a business in Ras Al Khaimah Economic Zone by doing all the paperwork.
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