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RAK ECONOMIC ZONE (RAKEZ)2024-10-03T16:32:36+04:00

UAE MAINLAND

RAK ECONOMIC ZONE (RAKEZ)

What is the significance of having a UAE mainland firm, and what does it represent?

RAKEZ provides a comprehensive suite of services, including business licenses, residence visa services, and a variety of value-added support services such as accounting, bank account opening, recruitment, and marketing.

RAK ECONOMIC ZONE (RAKEZ)

UAE Mainland

RAKEZ provides a comprehensive suite of services, including business licenses, residence visa services, and a variety of value-added support services such as accounting, bank account opening, recruitment, and marketing.

What is the significance of having a UAE mainland firm, and what does it represent?

RAKEZ was introduced in 2017 and is one of the 45 (as of 2024) free zones across the United Arab Emirates that are overseen by the Ras Al Khaimah Investment Authority. It is shaped by the vision of His Highness Sheikh Saud Bin Saqr Al Qasimi, the ruler of Ras Al Khaimah and a member of the United Arab Emirates Supreme Council. During COVID-19 pandemic, RAKEZ moved towards digitisation and was reported to have 20% growth in 2020. RAKEZ’s strategic location provides easy access to major transportation hubs, including Ras Al Khaimah International Airport and Dubai International Airport, facilitating convenient business travel and logistics. The zone’s commitment to nurturing its SME community is evident through continuous support and development initiatives. It serves as a strategic partner for startups, SMEs, and large industrial enterprises, providing a range of customizable business setup solutions.

The economic zone aims to simplify the business setup process, ensuring compliance with UAE regulations while offering cost-effective packages tailored to various business needs.

The strategic pillars of RAKEZ include customized solutions, superior efficiency, diversification across multiple industries, and expert guidance from seasoned professionals. These pillars ensure that businesses can operate seamlessly and thrive in a competitive environment. RAKEZ also features state-of-the-art facilities, including warehouses of various sizes and industrial land plots, catering to businesses of all scales. Al Ghail Industrial Zone, Al Hamra Industrial Zone, RAKEZ Academic Zone, Al Hulaila Industrial Zone, and RAKEZ Business Zone are the five zones that make up the business and industrial hub known as RAKEZ. From freelancers and startups to SMEs and industrialists, the economic zone’s multinational community of over 14,500 companies is flourishing in over 50 industries.

 

Advantages Of Business Setup In RAK Economic Zone (RAKEZ)

Affordable Setup Packages

RAKEZ offers some of the most competitive licensing fees in the UAE, making it more affordable for businesses to obtain the necessary permits and licenses. Entrepreneurs can benefit from flexible payment plans that allow them to spread the cost of setup over a period, easing the financial burden.

Premium Business Solutions

RAKEZ offers high-end business solutions to more established companies that want to grow or streamline their processes. RAKEZ provides excellent facilities along with advanced communication and logistical networks, guaranteeing that companies have the tools necessary to run effectively.

Customizable Facilities

Businesses can choose from a variety of facilities including offices, warehouses, and industrial plots that can be customized to meet specific operational needs.

Sector-Specific Zones

RAKEZ has dedicated zones for different industries, such as manufacturing, education, media, and trading, providing tailored environments that support industry-specific requirements.

Dedicated Support

There is less paperwork involved in starting a business in RAKEZ, and approvals and permits are obtained quickly. Dedicated account managers that offer specific assistance during the setup process and beyond are advantageous to businesses.

Safe and Welcoming Community

The region claims a safe living environment with a diverse expatriate community and a family-friendly atmosphere. Residents and businesses have access to modern amenities, including healthcare, education, and recreational facilities.

Affordable Setup Packages

RAKEZ offers some of the most competitive licensing fees in the UAE, making it more affordable for businesses to obtain the necessary permits and licenses. Entrepreneurs can benefit from flexible payment plans that allow them to spread the cost of setup over a period, easing the financial burden.

Premium Business Solutions

RAKEZ offers high-end business solutions to more established companies that want to grow or streamline their processes. RAKEZ provides excellent facilities along with advanced communication and logistical networks, guaranteeing that companies have the tools necessary to run effectively.

Customizable Facilities

Businesses can choose from a variety of facilities including offices, warehouses, and industrial plots that can be customized to meet specific operational needs.

Sector-Specific Zones

RAKEZ has dedicated zones for different industries, such as manufacturing, education, media, and trading, providing tailored environments that support industry-specific requirements.

Dedicated Support

There is less paperwork involved in starting a business in RAKEZ, and approvals and permits are obtained quickly. Dedicated account managers that offer specific assistance during the setup process and beyond are advantageous to businesses.

Safe and Welcoming Community

The region claims a safe living environment with a diverse expatriate community and a family-friendly atmosphere. Residents and businesses have access to modern amenities, including healthcare, education, and recreational facilities.

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Types Of UAE Free Zone Trade Licence

On the UAE free zone, businesses can be divided into four main licences depending on their activity type: General Trading, Commercial,
Industrial and Service. Below is a general look at each licence type.

 

General Trading Licence

A general trading licence in the UAE allows a company to sell, distribute, store, import, export, and re-export various goods under one licence. It covers a wide range of activities such as trading in foodstuff, furniture, electronics, and more. The licence provides flexibility within the Freezone as it permits a broad scope of commercial activities without tying down the company to specific lines of goods. However, specific activities may require a No Objection Certificate (NOC) for special approvals.

Commercial Licence

A commercial licence is necessary for companies selling products or services within the UAE and abroad. Any entrepreneur conducting economic activities in Dubai needs to apply for a commercial licence. This licence permits the purchase and sale of products and specified services. It allows for importing and selling items in the UAE, exporting them outside the country, or trading within the local market within the Freezone.

General Trading Licence

A general trading licence in the UAE allows a company to sell, distribute, store, import, export, and re-export various goods under one licence. It covers a wide range of activities such as trading in foodstuff, furniture, electronics, and more. The licence provides flexibility within the Freezone as it permits a broad scope of commercial activities without tying down the company to specific lines of goods. However, specific activities may require a No Objection Certificate (NOC) for special approvals.

Commercial Licence

A commercial licence is necessary for companies selling products or services within the UAE and abroad. Any entrepreneur conducting economic activities in Dubai needs to apply for a commercial licence. This licence permits the purchase and sale of products and specified services. It allows for importing and selling items in the UAE, exporting them outside the country, or trading within the local market within the Freezone.

Industrial Licence

An industrial licence in the UAE is provided by a free zone’s authority and allows investors and entrepreneurs to manufacture products within the relevant free zone jurisdiction. The licence enables the import of raw materials for production and the export of finished products overseas. Businesses involved in industrial or manufacturing processes should apply for this permit, which covers importing raw materials, production, and packaging for export.

Service Licence

The service licence permits the licensee to carry out specified services within the Free Zone, such as logistics, courier services, insurance provision, travel and tour services, car rental, consulting, and staffing. Additionally, it allows accounting, legal, and business consulting organizations to operate. This licence is meant for professionals in various fields who provide specialized services, including business consulting, IT services, accounting, auditing, legal services, and other professional services.

Industrial Licence

An industrial licence in the UAE is provided by a free zone’s authority and allows investors and entrepreneurs to manufacture products within the relevant free zone jurisdiction. The licence enables the import of raw materials for production and the export of finished products overseas. Businesses involved in industrial or manufacturing processes should apply for this permit, which covers importing raw materials, production, and packaging for export.

Tourism Licence

The service licence permits the licensee to carry out specified services within the Free Zone, such as logistics, courier services, insurance provision, travel and tour services, car rental, consulting, and staffing. Additionally, it allows accounting, legal, and business consulting organizations to operate. This licence is meant for professionals in various fields who provide specialized services, including business consulting, IT services, accounting, auditing, legal services, and other professional services.

RAS AL KHAIMAH FREE ZONES

Among the other Emirates, Ras Al Khaimah free zones have one of the most advanced economies and have seen impressive growth. RAK freezones, establishing a business is a quick and easy process.

 

RAK Economic Zone (RAKEZ)

Legal Forms For Company Formation In UAE Free Zones

The legal forms available for company registration in UAE free zones have been modified to meet the needs of different business kinds and investment levels. Below is a summary of the main corporate organizations and applicable legal frameworks found in UAE’s free zones:

 

Free Zone Establishment (FZE)

A Free Zone Establishment (FZE) registration allows for a single shareholder to form a company. This shareholder can be an individual (person) or a corporate shareholder.

FZCO (Free Zone Company) ( FZ- LLC)

An FZCO is essentially a multiple shareholder or a partnership freezone firm where there is more than one shareholder in the company with a maximum of 50 shareholders.

Branch of a Foreign Company

A branch is a separate legal entity , under the control of the parent foreign company . It is used in the UAE as a marketing tool for the parent company.

Branch of a UAE Company

A branch office setup is a separate office or branch of an existing company. The local company already has a license in the UAE. Hence, this is an expansion of the local business.

Why RAK Economic Zone (RAKEZ) For Your Company Formation?

Choosing RAS AL KHAIMAH ECONCOMIC ZONE for your business means opting for a strategic and cost-effective solution that simplifies your startup process. With affordable setup packages and premium facilities, RAKEZ ensures you get the best value for your investment. The hassle-free business setup process, combined with dedicated support and flexible payment plans, makes it easy to start and grow your venture.

Enjoy the benefits of 100% foreign ownership, tax exemptions, and duty-free operations. Located in the business-friendly and picturesque Ras Al Khaimah, RAKEZ offers a high quality of life with modern amenities and a safe environment. RAKEZ provides everything you need for success, from state-of-the-art infrastructure to a supportive community, making it the ideal choice for your business.

Standard Required Documents to Start the
Business Setup Process

Let’s launch your business with success! Ensure you have all the necessary documents ready to streamline the setup process!

  • Passport copies of shareholders and managers.
  • Passport-sized photos of shareholders and managers.
  • Residence Copy / Entry Stamp / Visit Visa Copy.
  • Business plan (sometimes required).
  • No Objection Certificate (NOC) from the current sponsor if the shareholder has a UAE residency visa.

Your Guide To Setting Up A Free Zone Business In UAE

Your business setup checklist is ready. Let’s launch your business with success!

  • 1
    Decide on your business venture.
  • 2
    Choose the best UAE location for your company
  • 3
    Choose the legal framework for your company.
  • 4
    Give your business name.
  • 5
    Apply for Initial Approval.
  • 6
    Prepare Legal Documents.
  • 7
    Lease Office Space.
  • 8
    Obtain Licenses.
  • 9
    Open a Corporate Bank Account.
  • 10

    Apply for the number of visas your company will require.

  • 11

    Register for VAT (if applicable)

We Business Setup Consultants will assist you to launch your project in the UAE Free Zones from A to Z without any hassles and provide you post launch assistance for your visas and all corporate services that you might need in the future.

We Business Setup Consultants will assist you to launch your project in the UAE from A to Z without any hassles and provide you post launch assistance for your visas and all corporate services that you might need in the future.

Frequently Asked Questions

Common Questions About Business Setup in the RAK Economic Zone (RAKEZ)

Is it mandatory for the shareholders to have a RAKEZ visa?2024-07-22T10:07:45+04:00

No, a RAKEZ visa is not required for stockholders. Shareholders can choose to stay on a non-RAKEZ visa or apply for a RAKEZ visa. This gives stockholders more flexibility and ease in selecting the type of visa that best fits their interests, whether personal or professional.

Can I get an investor visa from a RAKEZ company?2024-07-22T10:08:37+04:00

If you are the only shareholder of a RAKEZ company, then you are eligible to apply for an investment visa. Companies that have more than one shareholder may be eligible for a partner visa. This guarantees that companies with one or more shareholders will have the right kind of visa to facilitate their operations in the United Arab Emirates.

Can a RAKEZ company obtain credit?2024-07-22T10:09:13+04:00

Yes, by establishing an ownership interest, a RAKEZ company can get credit. This makes it possible for the business to use its assets as protection to get funding, which makes credit easier to get and supports operations and business growth.

What rules and regulations apply to a company licensed by RAKEZ?2024-07-22T10:09:49+04:00

All free zone entities are governed by RAKEZ Companies Regulations of 2017 and Operating Rules of 2018 as well as the applicable federal and local laws and decrees. As for the non-free zone entities, they are governed by the UAE Federal Law No. 2 of 2015 concerning Commercial Companies as well as all applicable federal and local laws and decrees.

5.Can a company lease an office in RAKEZ zones with existing licence from DED or another UAE free zone?2024-07-22T10:10:16+04:00

No, it cannot. The company must have RAKEZ licence to rent an office in RAKEZ zones. This may include a branch of DED/other free zone companies in RAKEZ.

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Empowering entrepreneurs worldwide with expert guidance for business setup success.

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Empowering entrepreneurs worldwide with expert guidance for business setup success.

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We give you a true “customer-focused” experience. Our dedicated team is committed to providing you with professional guidance tailored to your specific business needs. Your go-to company setup provider in Dubai Multi Commodity Centre (DMCC), IFZA Dubai south, DIFC, ADGM, RAKEZ, RAKICC and all other jurisdictions.

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About Us

We give you a true “customer-focused” experience. Our dedicated team is committed to providing you with professional guidance tailored to your specific business needs. Your go-to company setup provider in Dubai Multi Commodity Centre (DMCC), IFZA Dubai south, DIFC, ADGM, RAKEZ, RAKICC and all other jurisdictions.

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