Ras Al Khaimah (RAK) is one of the seven emirates of the United Arab Emirates (UAE) and is the largest and capital city of the Emirates of Ras Al Khaimah. You will be surprised to know that it is also the sixth largest city in UAE which ensures great opportunities for an amazing lifestyle as well as starting a business in the country.
So, what it holds for your business? Ras Al Khaimah Economic Zone (RAKEZ) is located in the heart of Ras Al Khaimah in the UAE. It serves as a significant industrial hub for many free zones and non-free zone companies that covers more than 50 business sectors.
The RAK offers the best opportunities for all kinds of businesses, whether you are an industrialist, a freelancer, an owner of an SME, or even an established large enterprise. RAK offers great potential to global investors with a variety of licenses along with customized facilities for your business. The RAK free zone also has some great options for logistics facilities as it lies in close proximity to major seaports, and airports.
The business setup in RAK is smooth and transparent. It ensures a streamlined process for the successful launch of your business in the Emirates.
Let’s have a look at the major reasons why you should start a business in the RAK-
Setting up a business in RAK is very cost-effective. The operating cost is quite lower as compared to the other economic zones in the Emirates.
Starting a business in RAK is extremely easy and quick. The requirement of paperwork is minimal, thus saving a lot of time.
Great logistics connectivity
A significant advantage of establishing a business in the RAK free zone is convenient access to adjacent airports and seaports, which can reduce your overall operational costs.
Big enterprises can opt for large customized industrial plots for better management of massive projects.
Warehouses of all sizes
With RAK you can get to choose from a wide range of warehouses of all sizes as suited for your business type.
RAK offers 100% ownership of the company to foreign investors. This eliminates the need to have a local sponsor.
Choose your business activityStart with choosing the desired business activity. Fortunately, the RAK free zone allows you to conduct a wide range of commercial activities. You can choose from commercial, educational, e-commerce, media, and other activities.
Decide a business nameChoosing a business name is an important step in establishing a company in the RAK free zone. You must follow the official standards and follow the processes for naming your corporation.
Choose your requirementsThis step includes choosing all the requirements for your business. You can select your appropriate legal entity, business license, and facility in the RAK free zone
Apply for the licenseThe next step is to apply for a business license which is a very easy process in RAK free zone. You just need to have your documents ready and you can apply for the license as per your business niche.
Get your visaAfter you have completed the license application, you need to obtain a visa to continue with your business setup in the RAK free zone.
Open a bank accountHaving a company bank account is essential, and it is best to engage with an expert business setup consultant in Dubai, such as RadiantBiz, to get it done quickly. We have more than 15 years of corporate banking experience that could be an advantage to your corporate banking needs.
Below is the list of all the documents that you will need to obtain the business license-
Copies of the passports of all the shareholders
Copies of UAE immigration stamps for all the shareholders
A business plan
NOC from the sponsor (in case of UAE resident)
Bank statements for at least 6 months
A commercial license allows you to trade in goods and services.
It allows you to establish an educational institution or consulting firm in the RAK free zone.
An E-commerce license allows you to conduct business for products and services online.
If you are trading in a variety of goods then you need to apply for this license.
An individual license holds importance when you are a single owner with one specific activity or expertise.
You will need this license if you deal with producing, importing, packaging, and shipping goods.
This license is for managing media-related business operations.
A business entity requires a service license for providing services or consulting in any industry.
Professionals in the media, education, information technology, and analysis would need to apply for this license.
RadiantBiz is your ideal partner to experience a smooth business setup in the RAK free zone. We are the leading one-stop shop for all your requirements for a successful business setup in the UAE. Our team ensures a hassle-free procedure for everything such as business licenses, bank accounts, visas, and paperwork.
RadiantBiz has been assisting global clients to start their businesses in the UAE. Because of the immense expertise our team holds in the industry, we can offer investors complete guidance for a smooth business setup.
We offer a 360-degree business solution for your company setup. RadiantBiz assists you with everything right from getting business licenses, to opening a corporate bank account in any leading banks in the UAE. Our team has assisted hundreds of clients from all over the world. RadiantBiz is a proud business partner for all our clients and we look forward to assisting you.