Ras Al Khaimah Economic Zone (RAKEZ Free Zone)

About Ras Al Khaimah Economic Zone (RAKEZ)

The emirate of Ras Al Khaimah borders Oman’s exclave of Musandam and is the most northern emirate in the United Arab Emirates. It has 64 km of beach coastline on the Arabian Gulf.  Ras Al Khaimah city is connected by a highway to Dubai and has its own international airport. Several ports—including Port Ṣaqr—handle the emirate’s shipping traffic. 

The government of Ras Al Khaimah started two competing free zone authorities in the emirate to increase international investment and local industry in the first decade of this century. In 2017, the government merged the two into the RAK Economic Zone (RAKEZ). The newly created entity provides a greater number of services and caters to a larger variety of businesses seeking to invest in the emirate.

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The Basics

RAKEZ has a dedicated industrial zone, an academic zone, a media zone and a business zone. Each of these zones has special facilities to cater to clients within that sector. These zones have experienced exponential growth over the last decade with investment from across the globe.

Investors select this jurisdiction for company incorporation because of the affordable fees and convenient services. RAKEZ has administrative offices and business centre facilities in Dubai and Abu Dhabi. Entrepreneurs can use these facilities while still live in the major metropolitan area of the UAE. You can start your company and submit all the documents without having to visit Ras Al Khaimah.

Unlike many other free zone jurisdictions, RAKEZ offer a set of support services under the name “Mazeed”. This service provides insurance, logistics, recruitment of staff, training, event management, translation of documents, notary services, procurement support, creation and printing of corporate materials and more. They are also happy to process dependent and domestic staff visas for a fee. The aim is to become a one-stop shop for business owners who may be new to the UAE.

The free zone is also known for its proactive policies to recruit female entrepreneurs through special packages. Speak to us to find out if you qualify for any special incentives.

TYPES OF LICENSES:

A business in RAKEZ Free Zone can operate under these types of licenses:

Commercial License

Encompassing trading activities;

Industrial License

Encompassing industrial or manufacturing activities;

Professional License

Encompassing professional services;

Documents Required to Setup A Company in RAKEZ Free Zone

When incorporating a company with RAKEZ, you will be working with one assigned customer service agent who will provide you with a precise list of documents required to incorporate your firm.

The list below is a general list of documentation requested in most cases.

  • Application form
  • Specimen signature of all parties involved in the business
  • Passport copy of all shareholders and company officers
  • Visa copy of all shareholders and company officers (if applicable)
  • Business plan
  • External approvals (if applicable)
  • Share capital deposit letter from a bank (if applicable)
  • If an industrial license, technical and environmental assessments might be required
  • If a foreign shareholder has an existing UAE residence visa, a NOC from the sponsor is needed

Timeframe for RAKEZ License

The minimum timeframe to receive a RAKEZ business license is 3 to 4 weeks. In some instances, it can take up to 3 months if its an industrial license. You can speed up the process if you let us review the documents before submitting it to the free zone to avoid having to reapply.

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