RAKEZ Free Zone Company Setup
Located at the center of Ras Al Khaimah in the UAE, Ras Al Khaimah Economic Zone (RAKEZ) is a powerhouse of businesses and the leading industrial hub. Established by the Ras Al Khaimah government, RAKEZ is among the significant economic zones in the region, which supports startups, business owners, SMEs, industrialists, and more with business setup procedures and requirements. However, the RAKEZ consolidation of two free zones, including the RAK Free Zone and the RAK Investment Authority.
Apart from being a profitable area, this free zone is also a licensing authority that provides customizable solutions to free zones and non-free zone businesses in the multinational community of more than 23000 businesses that flourish in more than 50 industries. You can get many business licenses, residence visa services, and value-added services like accounting translations, recruitment, marketing, and more.
If you are considering setting up your business in RAKEZ Free Zone, you should immediately contact Flyingcolour Business Setup. Our experts will guide you on the right path to begin your company in the RAKEZ Free Zone.
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Benefits of starting your business in the RAKEZ Free Zone
- RAKEZ Free Trade Zone is among the most cost-effective Free Zones in the world. The living and land cost is also less in the RAKEZ Free Zone.
- RAKEZ free zone offers you permits for more than 4000 business activities.
- You can enjoy 100 percent foreign ownership in the RAKEZ Free Zone, which allows you to have complete control over your business and removes the need for a local sponsor.
- You can enjoy transparent and flexible laws and regulations in the RAKEZ Free Zone because the UAE government has implemented a business-friendly regulation in order to attract foreign entrepreneurs. RAKEZ follows these regulations to ensure a smooth and clear business setup process.
- RAKEZ Free Zone is a vital location for warehousing and logistic businesses in the UAE. Apart from these companies, the free zone is also the best for other people looking to expand their businesses in the Middle East, Africa, and Asia as it is strategically located in the UAE.
- In the RAKEZ free zone, you may get an opportunity to conduct business with over 14,000 companies and more than 50 nations.
Types of License in the RAKEZ Free Zone
Commercial license
A commercial license allows you to conduct commercial activities, like trading products or giving services in the RAKEZ Free Zone. With this license, you can work in the retail, wholesale, consulting, and other industries.
In short, you can perform import, export, and distribution of goods with other business activities as mentioned in your license. In addition, you can connect with other business people as this license provides you with the freedom and trust you need to succeed in business.
Service License
A service license allows you to provide professional services, like consultancy, IT services, marketing, or legal services in the RAKEZ Free Zone. This license lets you offer your expertise services and cater to the client’s needs within or outside the United Arab Emirates (UAE).
E-commerce License
Due to the increase in online shopping and businesses, RAKEZ provides businesses like yours involved in online retail, drop shipping, and other eCommerce activities. The license lets you tap into the growing online market and reach customers globally. This license also helps you build trust with customers resulting in the success of a business.
Education License
RAKEZ Free Zone understands the importance of education and offers an education license to institutes giving education services. If you want to begin an education-based school or consulting service business, you must get this license.
It lets you start a school, language institute, training center, and more in the RAKEZ Free Zone. With this license, you can also give special training and learning programs in this free zone. In addition, you can also provide custom programs that schools need for their students.
Media License
You can also get a media license if you are in the media and entertainment industry. The license covers many business activities, like publishing, media, entertainment, broadcasting, and event management.
Industrial License
An Industrial License is essential for conducting activities like raw material imports, processing, manufacturing, and other industry-related activities in the RAKEZ Free Zone. However, you need clearance from the RAK FTZ Feasibility and environmental impact studies to get the industrial license.
Legal Structure under the RAKEZ Free Zone
LLC
A Limited Liability Company (LLC) can set up your business with 2 to 50 shareholders. You can obtain a way for a collaborative approach with more shareholders in the RAKEZ Free Zone Area.
Branch
The foreign companies can also set up their branches to make their existence in the United Arab Emirates (UAE). With the branch, you can enjoy RAKEZ’s perks. In addition, a branch of the UAE company may extend its operation as a branch to reach the free zone.
Required documents
Individual shareholders
- Emirates ID (if required)
- Passport-sized Photos
- Passport Copy ( Passport must be Valid for a Minimum of 6 months)
- Visa Copy (if required)
- Application Form
- 3 Company Name Options
Corporate Shareholders
- Company Manager’s Passport copy
- Company Manager’s Visa Copy
- Company Manager’s Emirate ID
- MoA
- Board of Resolution for Business Setup and Appointment of Authorized Signatory
- UBO List
- Incumbency Certificate
- Company trade license
- Three potential company names
Steps to begin your company in the RAKEZ Free Zone
- Initially, you should determine your business activities’s nature. You can select business activities from many options from trading or manufacturing to consultancy or service. Therefore, you should only choose the activities that match your business goals. Next, you should choose a business or legal structure per your company’s requirements to Setup your business in RAKEZ Free Zone.
- After choosing business activities and legal structure, you should choose a unique and attractive company name for your business. You should ensure that your company name adheres to the guidelines set by the free zone authority.
- Once choosing an attractive name for your company, you should submit the application with the required documents to the Free Zone Authority. Remember, you can submit these paperwork through the in-person or online portal.
- After submitting your application, the RAKEZ Free Zone will review the application and documents. Upon approval, you will get the license that will allow you to conduct your business in this free zone.
- Depending on your business type, you may need to lease an office space within the RAKEZ Free Zone. However, you must consider the business size and the type of office you want to choose a reliable office space.
- Lastly, you should complete the company registration by signing the essential documents and paying the fees. After this, you can legally initiate your company in the RAKEZ Free Zone.
Why Choose Us?
The RAKEZ Free Zone is one of the ideal locations to start your business in the UAE. However, you need to go through the right path and follow several guidelines for setting up a business in RAKEZ Free Zone. Flyingcolour Business Setup can help you find the perfect path to start your business in this Free Zone. Our experts can also ensure you and your company comply with the free zone regulations.
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Setting up a business in the UAE can be an overwhelming experience for the uninitiated but we can make this job truly easy for you. Talk to our expert consultants for free & decide the best course of action for yourself, today.