Ras Al Khaimah Economic Zone

Ras Al Khaimah Economic Zone (RAKEZ) is a government initiative consolidating two free zones:

RAK Free Trade Zone (RAKFTZ)

RAK Investment Authority (RAKIA)

Under the guidance of His Highness Sheikh Saud bin Saqr Al Qasimi, United Arab Emirates Supreme Council Member and Ruler of Ras Al Khaimah, RAKEZ is located in the heart of Ras Al Khaimah in UAE. The RAK government has merged both the RAK free zones along with their 14,500 clients, making it the biggest free zone in the entire UAE.

RAK Free Trade Zone was incorporated in 2000 and the RAK Investment Authority in 2005. Both these free zones have significantly contributed to the development of the emirate of Ras Al Khaimah. However, taking the expansion to the next level, both the authorities decided to unite the free zones in order to boost their economic development, and formed Ras Al Khaimah Economic Zone (RAKEZ) in 2017.

RAKEZ offers a robust platform for regional and foreign investors to diversify their investments and help them to penetrate the local, regional and international markets by setting up a company in the free zone region. Businesses in RAKEZ get a strategic location and gain access to many growing markets of the Middle East, Europe, South Africa, as well as South and Central Asia.

Benefits of Setting Up a Business in RAKEZ

100% exemption from corporate and personal income tax

Companies enjoy the freedom of 100% foreign ownership and full profit repatriation

Zero customs duty on re-exported goods

Flexi-facilities available at a very low cost

Free zone and non-free zone entity formations

Provision to build on-site staff and labor accommodations

Proximity to seaports

Accessibility via an international spread of regional offices

Self-service client portal

Wide-ranging business and industrial facilities

Business Licenses in RAKEZ

Commercial License

Commercial license allows an entrepreneur to register his/her trading company and to deal with trading of goods. The company can be registered as a free-zone entity or a non-free zone entity, according to the entrepreneur’s preference.

Educational License

This license permits an investor to enter the education business. Educational license is suitable for opening an educational institute in the RAKEZ.

E-Commerce License

E-commerce license enables the licensee to trade their goods and services via an online portal/platform.

General Trading License

To increase the limit of goods, traders or business owners can register for a general trading license in RAKEZ.

Professional/Service License

A professional license is provided to those who are involved in professional services in RAKEZ. A service license permits to carry out services or consultancies across any industry.

Industrial License

Industrial License allows the manufacture, import, packaging or export of products in RAK Economic Zone.

Media License

To inspire the media industry and attract more investors, RAK Economic Zone issues media license.

Tourism License

A tourism license is limited to tourism-oriented business activities in RAKEZ.

Permissible Legal Entities in RAK Free Zone

RAK Economic Zone permits four types of legal entities under its authorization:

Free Zone Establishment (FZE)

One shareholder or sole ownership

Free Zone Company (FZC)

2-5 shareholders or partnership business

Branch of a Local Company

For a branch of a company registered in the UAE.

Branch of a Foreign Company

For a branch of a company registered outside the UAE.

Procedure for Business Set Up in RAKEZ

RAKEZ is a productive environment to start your business in the UAE. You need to follow three steps in order to set up your business in RAKEZ.

Choose the Right Package

The first step is choosing the right entity, facility and license and set your package for the business. This will cover 25% of your business set up process.

Submit Application and Documents

Submit the application form and all documents demanded by the authorities. Prime Global will help you in the hassle-free submission of these documents after duly filling the application form. After submitting the documents, you will get a notification from the authority regarding the payment of fees. You can choose any one of the three payment options available:

Direct cash payment at the RAKEZ office

Online payment the official website

Bank transfer to the account details mentioned on your invoice

Obtain Business License

The last step will be collecting your business license, along with your registration set and bank letter, upon finishing the licensing formalities. After this, you can start your visa application process.
It is always advisable to seek expert advice from professional consultants before commencing business activity. Prime Global handles business formalities and support services required for your business set up. Our well-experienced team will study your requirements and help you achieve your goal so conveniently. Contact us today for a free walkthrough through the entire procedure!

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