Ras Al Khaimah Economic Zone Company Formation

Business Setup Services | Ras Al Khaimah Economic Zone

Ras Al Khaimah Economic Zone may be a government initiative to consolidate 2 free zones: RAK Trade Zone (RAKFTZ) and RAK Investment Authority (RAKIA). Under the guiding vision of His Highness Sheikh Saud bin Saqr Al Qasimi, United Arab Emirates Supreme councillor and Ruler of Ras Al Khaimah, RAKEZ is predicated within the heart of Ras Al Khaimah. The RAK government aims at merging both the RAK free zones along side their 13,000 clients, making it the most important free port within the entire UAE.

RAK Trade Zone was established within the year 2000 and therefore the RAK Investment Authority within the year 2005, and both these free zones were contributing to the event of the emirate of Ras Al Khaimah. But taking the event to the subsequent level, both the authorities decided to merge the free zones so as to expand their economic development and formed Ras Al Khaimah Economic Zone (RAKEZ) within the year 2017.

RAKEZ helps them to penetrate local, regional and international markets by fixing a corporation within the free port region and provides a platform for local also as foreign investors to diversify their investment. Companies in RAKEZ get a strategic location and gain access to several growing markets of the center East, South Africa, Europe also as South and Central Asia.

Advantages of Business Setup in RAKEZ

Setting up a business in RAKEZ has subsequent advantages.

  • 100% exemption from corporate and private tax
  • Companies enjoy the liberty of 100% foreign ownership and full profit repatriation
  • Customs duty is exempted on re-exported goods
  • Flexi-facilities available at a really low cost
  • Warehouses are available at cost-effective prices. Warehouses are available during a sort of sizes, located in proximity to seaports and airports
  • Unlimited space is out there to grow your industrial operations with plots of land for development

Business Licenses in RAKEZ

Commercial License

Investors can register their trading company under a billboard license in RAKEZ. This license allows an entrepreneur to deal with trading of products. the corporate are often registered as a free-zone entity or a non-free zone entity, as per the entrepreneur’s preference.

Educational License

After getting Educational Licenses you can be a part and also invest in the Educational sector. By registering one’s educational institute under the tutorial license, an investor can open any quite education-related company in RAK Economic Zone.

E-Commerce License

RAK free port offers e-commerce license for business owners, through which they will trade their goods and services via a web portal/platform.

General Trading License

In order to extend their limit of products, traders or business owners can register for a general trading license in RAKEZ.

Professional/Service License

A professional license is provided to those that are providing professional services in RAKEZ. The owner of a knowledgeable company is required to possess a selected specialty or expertise. A service license permits its holder to hold out services or consultancies across any industry in RAK free port.

Industrial License

Companies who deal with Industrial stuff can be a part of importing, packaging, manufacturing, or exporting products can choose an industrial business license in RAK Economic Zone.

Media License

To attract more investors for the media industry the RAK Economic Zone issues media license and encourages media related industry to start increasing your reach. Business owners who are involved in the production of media-related activities can get a media license for his or her business.

Tourism License

For tourism purpose and tourist oriented business activities you need to get a Tourism License in RAKZA.

Permissible Legal Entities in RAK Free Port

RAK Economic Zone has 4 sorts of legal entities under its authorization:

1. Free port Establishment (FZE)

One shareholder or single ownership

2. Free port Company (FZC)

2 to five shareholders or partnership business

3. Branch of an area Company

For a branch of a corporation registered within the UAE

4. Branch of a far off Company

For a branch of a corporation registered outside the UAE

Procedure for Business Setup in RAKEZ

RAKEZ may be a fertile place to start out your business within the UAE. you would like to follow 3 steps so as to line up your business in RAKEZ

Choosing the proper Package

The first step is selecting the right entity, facility, and license. Selecting the right entity, facility and license will set your package for the business. this may finish 25% of your business setup process.

Submission of Application and Documents

For this step, Branches can guide you thru all the procedures and guidelines of the business found out in RAKEZ. so as to form sure that each one the wants are met and everyone the documents are arranged from your side, Branches will perform a check the portfolio, in accordance with the updated corporate law.

After submitting all the documents, you’ll receive a notification from the authority to manoeuvre towards the subsequent steps, i.e., payment of fees. you’ll choose anybody of the three payment options:

  • Direct cash payment at the trade Zone office
  • Account details mentioned on your invoice of Bank need to be transferred
  • Online payment the official website

Issuance of Business License

Alongside your registration set and bank letter, upon completion of the licensing formalities and the final step would be collecting your business license. After this, you'll start your visa application process.

Our Role

Business setup in RAKEZ has its share of benefits. Branches can assist you with the documentation, licensing, visa application, banking procedures, business registration, and everyone other legal formalities which you’ll get to start your business venture. We at Branches make sure that your business gets an excellent start during a cost efficient manner.

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