Company Formation in RAKEZ-RAK Economic Zone
Ras Al Khaimah Free Trade Zone is a cost-effective special economic zone situated in the heart of Ras Al Khaimah in UAE. Representing more than 50 industrial sectors, this zone has an investment of more than 12,000 companies in a large number of countries. It has an advantageous geographical location, hence becoming a focal point for companies and sectors. It is the powerhouse of business and Industrial hubs, offering customizable solutions and services to both the Free zones and non-Free zone businesses. RAKEZ company setup is one of the most affordable business setup options in the UAE.
RAKEZ economic zone was established in the year 2000 and since then it continue to prosper.
RAKEZ’s official headquarter is situated in Ras Al Khaimah. The international Offices are in India, Turkey, and Germany. Additionally, it has promotion centers in Dubai and Abu Dhabi.
The primary source markets for investments of RAKEZ are India, the UK, Egypt, France, Pakistan, Jordan, Germany, and Italy. RAKEZ is one of the cost-effective and most popular free zones for business setup in the UAE.
RAKEZ company registration-Availability of Free zones:
RAKEZ offers four free zones in Ras Al Khaimah:
- For office clients, a business park.
- A free zone for Conducting heavy manufacturing, an industrial park.
- Trading and light manufacturing, a Technology Park.
- For educational institutions, an Academic zone.
These Free zones provide a hassle-free, tax-free environment, satisfactory ownership percentage, fast and easy track visas, freedom to global source labor and materials, and business support services at a very low cost.
A Free zone company gets many alluring benefits along with 100% foreign ownership of the enterprises as well as exemption from all customs duties.
Company setup in RAKEZ:
Business setup in Ras Al Khaimah Free Trade Zone is an easy, fast and convenient process that can be done within a week.
RAKEZ authority supports startups, industrialists, SMEs, and entrepreneurs with their business setup needs and requirements by providing them with a range of licenses and tailored or customizable facilities. They also provide world-class facilities and attractive support services.
Setting up a company in RAKEZ takes just 3 easy steps:
- Customize the package
- Submit applications and documents
- Get the business license
RAKEZ can also tailor-made packages according to individuals’ wishes.
RAKEZ offers registration of both Free and Non-Free zone entities in Ras Al Khaimah. The registration process is not open to the public and is kept confidential. Interestingly, if someone’s setup has been rejected for any reason, a 100% refund will be granted if payment is made to the Free zone.
The total expenditure on living and setting up a company as well as running it in Ras Al Khaimah is 50 percent less than that of the region. Basically, RAKEZ offers simplified processes, expert client representatives, one-stop shops, and also a self-service client portal; accessible 24/7 to the investors.
RAKEZ company setup provides plots for industrial land as well as customizable warehouses for development. Its authorities are located close to a seaport and in proximity to Ras Al Khaimah airport, hence offering a strategic location for import and export conveniently.
People who have not heard much of UAE Free Zones, know about it and are interested in businesses set up in Ras Al Khaimah. But It is located not far from RAKEZ airport and has a seaport in close proximity. We provide reliable RAKEZ company setup services in the UAE.
Benefits of RAKEZ Free Zone:
- Strategically located
- Allows different business activities to perform
- Offers affordable business setup packages
- Reasonable prices of executive offices with a location in RAK and Flexi-desks in Abu Dhabi
- It has hi-tech facilities for industrial growth and development
- Provides first-class Services
- Budget-friendly and economically convenient
- Custom-friendly environment
- Easy access and a strong network of communication in the global market
- Readily available warehouse of any sizes
- Company can hold real estate property
Free zone offices and warehouses
RAKEZ offers customized warehouses and plots of industrial land for development. Therefore, they offer ready-made staff and labor accommodations. Mainly, there are all the benefits the Jebel Ali company setup offers but suits much smaller budgets. For customer convenience, RAKEZ has offices in Abu Dhabi and Dubai. So One can have the option of a Flexi desk or a smart office in any of these Emirates.
Control of the activities for businesses settlement:
For a company set up, the first and foremost step to do is issuing a license. The license can be obtained for enjoying a huge variety of business activities. Below are the different categories of business activities:
RAKEZ offers different types of packages that start with zero visas and can go up to 4 visas; in case investors rent a readymade executive office. In the case of renting a warehouse, the company will be eligible for more visas as the investors need to hire more staff.
Although Health Insurance is not mandatory for the company owners in RAKEZ, it can be needed by the family members who are dependent on them
For investors who want to have a physical office and don’t require a location near Dubai, RAKEZ is a perfect choice. Also, for those investors who reside in Abu Dhabi and want to have an office facility at an affordable price, RAKEZ meets the need too.
Overall, we can conclude that for investors who are looking for an industrial, manufacturing, or assembling business, RAKEZ is the best recommendation due to its ready-made facilities and services. The combination of infrastructure development, industrial inputs, and availability of natural resources, a favorable Regulatory climate every factor summed up to give the emirate a true competitive advantage, making it a cost-efficient business destination.
This is the reason why RAKEZ is now becoming the first choice for many investors, businesses, and entrepreneurs to start their businesses in RAKEZ.
Company Formation Business Activities in RAKEZ:
Ras Al Khaimah business license can be obtained for several varieties of business activities and you can be sure that you will find what you need. RAKEZ has one of the largest activity lists among all the UAE free zones and these are divided into the following categories:
- Individual / E-commerce
- Some activities require a company manager to have a relevant educational degree, and therefore should be proved by a certificate attested in the UAE Embassy in the country of origin.
Usually, such activities are related to a professional service that needs certain qualifications, for example:
- Accounting and bookkeeping
- Architectural design and consultancy
- Aviation consultancy
- Engineering consultancy and many more.
RAKEZ Company Setup Cost:
RAKEZ often offers special discounts and promotions campaigns. The minimum cost for Company can be as low as 8,000 AED for a zero visa media business activity company. Apart from that, if you want to save money in the long run you can register a 3-year business package. There will be a 25% discount for 3 years’ business license.
- Zero Visa License: 11,400 AED
- One Visa Professional License: 13,400 AED
- Two Visa Trading/Service License: 15,800 AED
RAKEZ offers a 100% refund of payment in case of rejection or security approval is not obtained.
Investor Visa with RAKEZ
Packages start with zero visas and go up to 4 visas in case you rent a ready-made office. But if you rent a warehouse, for example, your company will be eligible for more visas.
- RAKEZ visa costs in AED
- RAKEZ Investor Visa fee: AED 3950/-
- Medical check-up: AED 640/-
Emirates ID: AED 372/-
Employee Visa : AED 2400 + 2000 deposit
Company License Renewal with RAKEZ Free Zone:
RAK economic zone license renewal is easy and quick. The renewal cost is less than the registration cost. An annual financial audit report of the companies is required for renewal and therefore required at the end of the financial year.
Renewal of license:
Ras Al Khaimah’s business license can cost up to 1000 AED less than the incorporation and doesn’t require any personal presence of the shareholders.
RAKEZ requires a company’s financial audit, the investors should submit it at the end of the financial year.
Ras Al Khaimah Free Trade center often runs various promotions and discount campaigns. It also offers a special discount and product for the women called women In power, benefiting with a price 40% less than usual. On top of that, all the resident visas under companies enjoy free of charge.
Amendment of the company:
Companies can be amended at any time whenever there is a need. The mentionable amendment can include the following changes:
- Company name
- Business activities
- Shareholders or managers
- Office facilities
It has to be noted that the personal presence of the shareholders or the managers is required for the amendment process
Company Liquidation in RAKEZ:
Company liquidation in RAKEZ takes about 2-3 weeks at least. Thus all the visas under the company must be canceled before you apply for license cancellation. The government fee for company cancellation is AED 3,000/-.
RAKEZ company set up is the best option for those who are looking to open a manufacturing or assembling business due to its ready-made facilities. If you want to have an office facility at a reasonable price, then RAKEZ is the free zone of your choice. On the other hand, there are other options like SHAMS free zone company set up as an alternative. Also RAK Economic Zone(RAKEZ) offers a great investment opportunity at lower costs through a range of license types from services, general trading, e-Commerce, and individual licenses.