Founded in 2017, Ras Al Khaimah Economic Zone is a world class free zone that has consolidated two free zones of Ras Al Khaimah i.e. RAK Free Trade Zone – RAK FTZ (established in 2000) and RAK Investment Authority – RAKIA (established in 2005). RAK Economic Zone provides highly personalized facilities and services within a well-organized ecosystem in the emirate of Ras Al Khaimah.
Located in the heart of Ras Al Khaimah, RAK Economic Zone oversees and consolidates specialized parks and clients of both RAK FTZ and RAKIA. It offers a cost effective business setup in UAE to local and foreign investors that includes customizable packages and world class facilities so that they can penetrate local, regional and international markets by setting up a company in RAKEZ.
With integration of two free zones of RAK, RAKEZ is now a preferred business destination of more than 13,000 multinational companies from over 100 countries constituting more than 50 sectors.
There are six specialized RAKEZ zones to start a business.
I. RAKEZ Business Zone: For trading, service and consultancy businesses
II. AL HAMRA Industrial Zone: For manufacturing, industrial projects, trading, assembly & logistics
III. AL GHAIL Industrial Zone: For manufacturing, industrial projects, trading, assembly & logistics
IV. AL HULAILA Industrial Zone: For manufacturing, industrial projects, trading, assembly & logistics
V. RAKEZ Academic Zone: For schools, universities, institutes, academic consultancy and services.
VI. RAKEZ Media Zone: For Radio, TV, Magazines, Broadcast, Film Production, Events Management, etc.
Benefits of Company Formation in RAKEZ
- Free zone and non-free zone company formation
- 100% foreign ownership
- 100% exemption from corporate and personal income tax
- Businesses allowed to use all forms of currencies
- Complete profit repatriation
- Customs duty is exempted on re-exported goods
- Quick and hassle-free business setup processes
- Lower cost of doing business
- Wide range of business development and industrial facilities and value added services
- Self-service customer portal
- Can build on-site staff and accommodate labor
- Access to main logistical hubs and multilane super highways
- Connectivity through international spread of regional offices
- Easy access to markets across the Middle East, Europe, North Africa and Asia regions
- One-stop shop facility for free zone company formation and business support
Permissible Legal Entities in RAKEZ
Depending upon nature of your business, there are several forms of legal entities offered in RAKEZ.
- Free Zone Entity
- Free Zone Establishment (FZE): Entity with single shareholder or owner
- Free Zone Company (FZC): Entity with 2-50 shareholders
- Non free Zone Entity
- Individual Establishment: Entity with single shareholder or owner
- Limited Liability Company (LLC): Entity with 2 or more shareholders
- Branch of a UAE Company: For a branch of a company registered in UAE including companies incorporated in other UAE free zones
- Branch of a Foreign Company: For a branch of a company registered outside UAE
License Types Offered in RAKEZ
- Commercial – For businesses dealing in trade of goods and services
- Educational – To open any kind of education related organization or consultancy company
- E-Commerce – For business dealing in trading of goods and services through an online platform/portal
- General Trading – For trading in numerous goods
- Individual/Professional – For an entrepreneur who will be sole owner having expertise in one particular activity (free zone entity)
- Industrial – For companies involved in manufacturing, importing, packaging or exporting products
- Media – For businesses involved in media-related activities
- Professional – For individuals who will provide professional services (non-free zone entity)
- Services – For businesses related to provision of services or consultancies across any industry
Facilities of Business Set up in RAKEZ
- Flexi Facilities
Flexi facilities are low-risk ideal solution for startup companies in RAKEZ. They are shared and furnished workstations located in first-class business centers in RAKEZ Business Zone.
- Standard Offices
These are ideal for small-to medium-sized business. RAKEZ has ready-made office spaces available at competitive rates, which allow an entrepreneur to gain maximum return on investment.
- Executive Offices
Executive offices cater to larger office requirements. They are fully serviced, bigger than standard offices and provide more space for business growth.
- Shell & Core Offices
If you want to design and arrange your working environment, you can lease shell & core offices located in RAKEZ Business Park. These are undeveloped and large office facility that can be fully customized according to your business needs.
These are customizable and spacious – available in variety of sizes for businesses dealing in light manufacturing, storing of goods and general assembly. They can be leased on year round or limited time basis and are constructed in proximity to seaports and airports.
- Land for Development
Land for development provides unlimited space of land for industrial, logistical and service industry projects that also enable easy access to neighboring emirates and GCC countries.
How Can KWSME Help
Company formation in RAKEZ has its share of advantages. KWSME can help you with the documentation, licensing, business registration and all the legal procedures which you need to start a business in UAE. We also assist in bank account opening, trademark registration, visa processing and other related business support services and ensure that your business starts in a cost-efficient manner.
Contact us for any assistance in business setup in RAKEZ.