RAKEZ

RAK Company Formation

RAKEZ (Ras Al Khaimah Economic Zone) is a powerhouse business and industrial hub in the heart of Ras Al Khaimah, United Arab Emirates. Established by the Government of Ras Al Khaimah, RAKEZ offers customisable solutions for UAE company formation to free and non-free zone businesses.

Key Features

Strategic Location: RAKEZ connects investors to growing markets in the Middle East, North Africa, Europe, South and Central Asia

Diverse Business Community: RAKEZ supports a multinational community of over 25,000 companies flourishing in more than 50 sectors

Comprehensive Services: The economic zone provides:

  • A wide range of business licenses
  • Residence visa services
  • Customizable facilities
  • Value-added support services (accounting, translation, bank account opening, recruitment, marketing, etc.)

Business Setup Options

RAKEZ offers two types of entity formation:

1.Free Zone Entity:

1

Limited Liability Company (FZ-LLC)

2

Branch of a UAE-based company

3

Branch of a foreign company

Non-Free Zone Entity:

    • Individual Establishment
    • Single Person Limited Liability Company
    • Limited Liability Company (LLC)
    • Branch of a UAE-based company
    • Branch of a foreign company

Benefits

  1. 100% Foreign Ownership:RAKEZ allows full foreign ownership for free zone companies
  2. Tax Incentives:The economic zone offers tax exemptions for up to 50 years
  3. Cost-Effective Solutions:RAKEZ provides affordable setup packages and modern facilities
  4. Flexible Workspaces:Options include shared workspaces, private offices, and customisable land plots
  5. Global Access:RAKEZ facilitates access to a global network of investors and customers
  6. No Foreign Exchange Controls:There are no regulations or trade barriers, making international operations easier

    Specialised Zones

    RAKEZ is divided into several specialised zones, catering to different business types:
    1. Industrial Zones
    2. Business Zones
    3. Academic Zone

Each zone offers tailored solutions and facilities to meet specific business requirements.

RAKEZ provides a comprehensive ecosystem for businesses looking to establish or expand their presence in the UAE. With its strategic location, diverse offerings, and business-friendly environment, RAKEZ has become a preferred choice for entrepreneurs and companies across various sectors.

The company setup procedure in RAKEZ (Ras Al Khaimah Economic Zone) is straightforward and can be completed in several steps. Here’s an overview of the process and associated costs:

Setup Procedure

Step 1: Choose Your Business Activities and License Type Determine the nature of your business and select the appropriate license type (e.g., trading, service, industrial, or educational) RAKEZ offers various options to suit different business needs. Step 2: Select Your Legal Entity Choose between a Free Zone Company (FZC) or a Free Zone Establishment (FZE)
  • FZC: Allows multiple shareholders (up to 5) with a minimum share capital of AED 150,000
  • FZE: Permits a single shareholder with a minimum share capital of AED 150,000
Step 3: Register Your Business Name Secure a unique business name through the RAKEZ online portal, ensuring it complies with RAKEZ naming regulations.

Submit Your Application

Complete and submit the license application along with the necessary documents

Required documents typically include:

  • Completed application form
  • Passport copies of shareholders, directors, and general manager
  • Business plan
  • No Objection Certificate (NOC) for UAE residents
  • Memorandum of Association (MOA)

Pay the Fees and Sign Agreements

Once your application is approved, pay the required fees and sign the Memorandum of Association and lease agreement.

Receive Your License

After completing the paperwork and payments, you’ll receive your business license and other necessary permits.

Apply for Visas

Apply for investor and employee visas as needed

Open a Bank Account

Set up a corporate bank account with a UAE bank to handle your company’s financial transactions.

Costs

The cost of setting up a business in RAKEZ can vary depending on your specific requirements. However, RAKEZ offers several affordable packages:

Biz Starter Package: Available at AED 5,499, ideal for commercial trading, e-commerce, consultancy, media, e-gaming, and education businesses

All-inclusive Visa for Life Package: Priced at AED 16,500 per year with no hidden fees, offering long-term stability

Businesswomen Package: Starts from AED 6,000 per year

SME Business Setup Package: An all-inclusive package worth AED 16,500 per year, which includes a UAE residence visa

Basic Setup: Costs can be as low as AED 5,699 for a 0 Visa business license

These packages often include various benefits, such as:

  • Business license
  • Shared workstation or office space
  • Assistance with bank account opening
  • VAT registration and other compliance support
  • Visa eligibility (varies by package)

It’s important to note that additional costs may apply depending on your specific business needs, such as office space requirements, number of visas, and chosen activities.

For a precise quote tailored to your business requirements and cost-effective company setup support services, please get in touch with the Alpha Equity MC team for advice.

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