RAKEZ Company Formation

RAKEZ Company Formation

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Ras Al Khaimah Economic Zone (RAKEZ)

Ras Al Khaimah Economic Zone (RAKEZ) is the result of a merger between two major free zones: RAK Free Zone and RAK Investment Authority. Located in the emirate of Ras Al Khaimah, United Arab Emirates, RAKEZ offers a thriving environment for business setups, largely due to the economic stability and security the region provides. This stability has contributed to the success of many RAKEZ-registered companies.

RAKEZ is known for its flexible company setup options and seamless connectivity through Ras Al Khaimah's well-established seaports, airport, and highway network, making it an ideal hub for businesses. Whether you're a freelancer, small or medium enterprise (SME), multinational company, or large industrial business, RAKEZ offers an attractive platform for growth and expansion. The free zone is increasingly becoming the preferred choice for companies seeking a strategic location and robust infrastructure.

Benefits of Incorporating a Company in RAKEZ

Incorporating a company in Ras Al Khaimah Economic Zone (RAKEZ) offers a range of advantages

Diverse Business Activities: RAKEZ supports over 4,000 different business activities.
Multiple Activities: One company can operate multiple business activities under various licenses.
Cost-Effective Setup: RAKEZ provides an affordable option for company formation.
Profit Repatriation: Enjoy 100% repatriation of profits and capital.
Flexible Zone Options: Choose between free zone and non-free zone setups.
Tax Advantages: Benefit from zero personal and corporate tax.
Remote Company Formation: Set up your company without needing to visit the UAE.
Office Solutions: RAKEZ provides ready-to-move-in flexi desks, flexi offices, and dedicated office spaces.
Minimal Documentation: Requirements for company registration are minimal.
Storage Options: Access warehousing and storage facilities.
Dedicated Zones: RAKEZ has specialized zones for industrial, academic, and business activities.
Land for Development: RAKEZ offers land for projects in manufacturing, logistics, and services.
Efficient Processes: Company incorporation is processed quickly.
Staff Accommodation: Provision for on-site staff and labor housing.
Freelancer Licenses: Special licenses are available for freelancers.
Ease of Operation: Streamlined processes facilitate easy company management.
Support for Women Entrepreneurs: RAKEZ offers tailored packages for women-led businesses.
Business Services: RAKEZ provides business centers and secretarial services.
Low Capital Requirements: Minimum capital starts at AED 10,000 (AED 15,000 for industrial activities).
Government Services: Access all necessary government services under one roof.
Visa Options: Multiple choices for investor and employee visas.
Flexible Payment Plans: Company registration and renewals can be paid in interest-free installments over six months.
Global Networking: Connect with over 14,000 companies from 50 different countries already in RAKEZ.
Banking Partnerships: RAKEZ’s strategic alliances with banks expedite account opening and management.
Family Sponsorship: Investors and employees can sponsor their families.
Travel Flexibility: Investor visas allow travel throughout Gulf Cooperation Council (GCC) countries.

These benefits make RAKEZ an attractive choice for businesses looking for a strategic, cost-effective, and supportive environment for growth and operation.

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Types of Licenses for RAKEZ Companies

RAKEZ offers a range of license options for businesses, tailored to different activities and requirements

Commercial License: Allows businesses to engage in trading and commercial activities, applicable in both RAKEZ free zone and non-free zone areas.
Educational License: Designed for educational institutions and training centers.
E-commerce License: For businesses operating online and conducting e-commerce activities.
General Trading License: Permits broad trading activities involving multiple product categories.
Individual License: Tailored for individual entrepreneurs and sole proprietors.
Industrial License: Suitable for manufacturing and industrial operations, valid in both RAKEZ free zone and non-free zone areas.
Media License: For companies involved in media production, broadcasting, and related activities.
Professional License: Granted to professional services providers such as consultants, accountants, and lawyers, applicable in both free zone and non-free zone areas.
Service License: For businesses providing various services, excluding industrial activities.
Freelance License: Ideal for independent professionals and freelancers.

Each license type caters to specific business needs and operational scopes, ensuring that companies in RAKEZ can find the appropriate licensing option to match their activities.

Key Steps to Starting a Business in Ras Al Khaimah

Starting a business in Ras Al Khaimah involves several crucial steps:

01. Determine the Business Activity

Identify the type of business activity you wish to pursue. Each activity has specific legal regulations, fees, and site requirements. Certain locations may have restrictions based on the type of activity.

02. Choose the Legal Structure

Decide on the legal form of your business, such as a Limited Liability Company (LLC). The choice of legal structure affects the business’s operational and regulatory obligations. Obtain necessary approvals from the General Directorate of Residency & Foreigners Affairs and the Department of Economic Development (DED).

03. Register the Trade Name

Select and register a unique trade name for your business. Initial approval of the trade name is required before proceeding with the business license application. This step also involves ensuring that the business location meets all regulatory requirements by consulting with the Monitoring & Consumer Protection Administration and other relevant authorities.

04. Obtain Approvals from Relevant Authorities

Secure approvals from all necessary authorities based on your business activity. This may include the DED and other specific regulatory bodies depending on your industry.

04. Obtain the Business License

Once all approvals are in place, complete the final legal requirements to obtain your business license from the Department of Economic Development. The licenses available include:

Industrial License
Commercial License
Professional License
Tourism License

Business Establishment Facilitation Services

Single Window Service: RAKEZ offers this service to streamline the process of obtaining licenses and approvals from various government entities.
DED Express Service: For faster processing, the Department of Economic Development provides an Express Service for an additional fee, aiding in the swift establishment of businesses in Ras Al Khaimah.

Documents Required for Company Formation in RAKEZ

To establish a company in Ras Al Khaimah Economic Zone (RAKEZ), you will need to provide the following documents

Passport Copy: Coloured copy of the passport or Emirates ID for UAE residents.
Visa Copy and Entry Stamp: For those currently in the UAE.
No Objection Certificate (NOC): An original NOC for the general manager, required for UAE residents.
Business Plan: A detailed business plan outlining your company's objectives and strategies.
Shareholders Resolution: A resolution from the shareholders for the establishment of the RAKEZ company and the appointment of the general manager (required for corporate shareholders).
Trade License/Certificate of Registration: For existing businesses, a trade license or certificate of registration (for corporate shareholders).
Memorandum and Articles of Association: Essential for defining the company's structure and governance (for corporate shareholders).
Certificates of Good Standing or Certificate of Incumbency: These documents verify the current status and operational standing of the corporate shareholder.

These documents ensure a smooth and efficient process for setting up a company within RAKEZ

Documents Required for Company Formation in RAKEZ

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