Ras Al Khaimah (RAK) is one of the best Emirates in the UAE and is known for its free trade zones. Since 2000, RAKEZ Free Trade Zone has welcomed over 8,000 companies. It is known for its low cost setup options and is one of the oldest free zones in the UAE.
If you are looking to start or expand a new business in Ras Al Khaimah, Business Setup Worldwide (BSW) can guide you through the process. We handle all the steps and make it easy for you to set up your RAKEZ Free Zone company.
Steps to Form a Company in RAKEZ Free Zone
The main steps to set up your company in RAKEZ are:
1. Decide On The Type of Company
To get started, decide what type of company you want to form. The options include a Free Zone Establishment (FZE), a Free Zone Company (FZC) or a department of a foreign company. Each form has specific regulations and benefits, so choose the one that best fits your business plan.
2. Choose a Business Activity
Choose the type of business you want to do in RAKEZ. The free zone allows trade, services, consulting and even manufacturing.
Then choose an activity that matches your skills and interests. It is also important to do market research to check if there is a demand for your product or service. Slight market research will help you make the right decision.
3. Choose And Reserve a Company Name
Decide on a name for your company. The name should comply with RAKEZ rules. It should not copy another company name, and it should avoid offensive or religious words.
Once you have chosen a name, reserve it with RAKEZ. The name remains reserved for 90 days. This gives you enough time to complete the rest of the setup without any worries.
4. Apply For a Trade License
Submit the necessary papers to obtain your trade license. This includes a company registration form, a short business plan, and passport copies of shareholders and managers.
The license is very important because it gives you legal permission to do business in RAKEZ. It clearly states what activities your company can carry out. After paying the fee and applying, RAKEZ will investigate and then issue your license.
5. Obtain The Necessary Approvals
Depending on the type of business you have, you may need other approval. They can come from the Chamber of Commerce, Ministry of Economy or Economic Development Department. Some business activities may also require additional approval from other authorities.
Make sure you collect all the approvals before you start. This will save you from fines or legal trouble later.
6. Rent an Office or Workspace
You will need to have an office in RAKEZ to run your company. Options include flexi-desks, private offices, or warehouses.
RAKEZ offers a variety of sizes and price options to fit small startups and large companies. The costs vary depending on the size, type and location of the space you choose.
7. Apply For a Visa
When you have the license and approval, you can apply for a visa. You can also get a visa for yourself and your employees.
The visa process may vary depending on the type of visa and where your employees come from. Before hiring anyone, register them in RAKEZ and apply for their work permit and visa.
8. Start Your Business
Once you complete all the steps, you can start your company in RAKEZ. You can hire people, sell products or services and go about your daily business.
Always follow UAE employment, immigration and tax rules. This will help you run your business steadily and grow without any problems.
Documents Required for RAKEZ Freezone Business Setup
To start a company in Ras Al Khaimah Economic Zone (RAKEZ), you need to submit these documents:
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A color copy of your passport or Emirates ID (if you are residing in the UAE).
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Original No Objection Certificate for the General Manager (for UAE residents only).
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Copy of your visa and entry stamp (if you are in the UAE).
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Memorandum and Articles of Association (for corporate shareholders).
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Certificate of Good Standing or Certificate of Incumbency (for corporate shareholders).
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Current Company Trade License or Registration Certificate (for corporate shareholders).
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Shareholdersβ Resolution for the establishment of the RAKEZ Company and the appointment of the General Manager (for corporate shareholders).
Benefits of Obtaining a RAKEZ Free Zone License
Obtaining a RAKEZ Free Zone License offers many benefits to business owners:
- 100% Foreign Ownership
- Zero Personal and Corporate Income Tax
- Full Repatriation of Capital and Profits
- No Currency Limits or Trade Quotas
- Easy Access to the Middle East, India and Africa
- No Import or Export Duties
- Prime Location Just 45 Minutes from Dubai
RAKEZ makes life easier by providing government services in one place. You can easily manage visas, license renewals and documents.
Why Choose DBS Business Setup Services?
DBS Group specializes in RAKEZ company formation. We create customized plans to make your business simple and stress-free. Contact us today to get started.
