Ras Al Khaimah Economic Zone (RAKEZ) stands as one of the most dynamic and versatile economic zones in the UAE. Strategically positioned, RAKEZ offers an unparalleled business environment with comprehensive facilities and cost-effective business solutions. We aim to guide you through the intricate process of setting up a business in RAKEZ, ensuring that your entrepreneurial journey begins on the right foot.

Why Choose RAKEZ for Your Business?

RAKEZ provides a strategic location that bridges the gap between East and West, offering businesses access to a broad market. The economic zone boasts a diverse range of industries including manufacturing, logistics, trading, services, and media. The benefits of setting up in RAKEZ include:

• Cost-Effective Solutions: RAKEZ offers some of the most competitive rates for office spaces, warehouses, and land in the region.
• Simplified Business Setup: The zone provides a streamlined process for business registration, making it easier for entrepreneurs to start their ventures.
• Comprehensive Support Services: RAKEZ offers various support services, including legal, visa, and administrative assistance, to ensure businesses can operate smoothly.
• Tax Benefits: Companies established in RAKEZ enjoy 100% foreign ownership, full repatriation of profits, and zero customs duties on imports and exports.

Types of Business Licenses in RAKEZ

RAKEZ offers a variety of business licenses tailored to meet the needs of different industries. These include:

• Commercial License: For businesses involved in trading activities.
• Educational License: For entities offering educational and training services.
• E-Commerce License: For online businesses.
• General Trading License: For companies dealing in a wide range of goods.
• Industrial License: For manufacturing and production companies.
• Media License: For media-related activities.

Steps to Set Up a Business in RAKEZ

1. Define Your Business Activity

The first step in setting up a business in RAKEZ is to determine the nature of your business. RAKEZ accommodates a wide range of business activities, so it is crucial to define what your business will be engaged in.

2. Choose a Legal Structure

RAKEZ offers various legal structures including:

• Free Zone Establishment (FZE): For single shareholders.
• Free Zone Company (FZC): For multiple shareholders.
• Branch of a Foreign Company: For established companies wishing to expand into the UAE.

3. Select a Business Facility

RAKEZ provides a variety of facilities to suit different business needs, such as:

• Flexi-Desks: Cost-effective, shared workspaces.
• Offices: Fully-furnished, customizable office spaces.
• Warehouses: Suitable for storage and logistics operations.
• Industrial Land: Available for long-term lease for large-scale industrial projects.

4. Submit Your Application

Once you have chosen your business activity, legal structure, and facility, the next step is to submit your application along with the necessary documents, including:

• Passport copies of shareholders and directors
• Proof of address
• Business plan
• No objection certificate (if applicable)

5. Obtain Approvals and Licenses

After submitting your application, RAKEZ will review your documents and grant the necessary approvals. This process typically involves:

• Initial approval: Verifying the business activity and applicant details.
• Trade name registration: Ensuring the chosen trade name is unique and complies with RAKEZ regulations.
• License issuance: Granting the business license upon approval.

6. Visa Processing

Businesses in RAKEZ can sponsor visas for their employees. The visa application process includes medical tests, Emirates ID registration, and visa stamping.

7. Open a Corporate Bank Account

Once your business is registered and you have obtained your trade license, the next step is to open a corporate bank account. This requires:

• Trade license copy
• Shareholder and director passport copies
• Board resolution (if applicable)
• Certificate of incorporation

Advantages of Setting Up in RAKEZ

Strategic Location and Connectivity

RAKEZ’s strategic location provides easy access to major logistical hubs including seaports, airports, and highways, facilitating smooth business operations and logistics.

Business-Friendly Environment

RAKEZ offers a business-friendly environment with minimal bureaucracy and efficient administrative support, allowing businesses to focus on growth and development.

Diverse Industry Ecosystem

The diverse industry ecosystem in RAKEZ fosters collaboration and innovation, providing businesses with opportunities to network and grow within a thriving community.

Incentives and Support

RAKEZ provides various incentives and support services, including:

• Investor support services
• Business facilitation services
• Networking events and business forums

Compliance and Regulations

RAKEZ ensures that businesses comply with local and international regulations, providing a secure and reliable business environment. The zone offers guidance on:

• Legal compliance
• Environmental regulations
• Industry standards

Conclusion

Setting up a business in RAKEZ is a strategic move for entrepreneurs looking to tap into the lucrative markets of the UAE and beyond. With its cost-effective solutions, streamlined processes, and comprehensive support services, RAKEZ stands out as an ideal destination for businesses of all sizes and industries. By following the outlined steps and leveraging the numerous benefits offered by RAKEZ, you can establish a successful and thriving business in one of the most dynamic economic zones in the region.