Ras Al Khaimah Economic Zone (RAKEZ) Business Setup
Ras Al Khaimah Economic Zone (RAKEZ) Business Setup
The Ras Al Khaimah Economic Zone (RAKEZ) is a free zone authority, situated in the Emirate of Ras Al Khaimah (the northern emirate of UAE). Because of business executives from over 100 countries establishing their businesses in RAKEZ free zone, it has now become a standout player for multinational investors. Other than being a significant factor to Ras Al Khaimah’s industrial prosperity, RAKEZ is home to over 14,500 businesses from a diverse range of industries.
RAKEZ promises a favorable economy forming environment for freelancers, SMEs, and large Multinational Companies (MNC) from more than 50 businesses. Business owners here have access to a broad range of permit forms for a broad range of business operations, as well as additional benefits such as joint workspaces and access to premium business districts with top-tier admin facilities and IT/Telecom networks. RAKEZ provides a low-cost, world-class economic zone with personalized packages and amenities, as well as innovative infrastructure.
List down Business advantages and key features For RAKEZ Free Zone
Any freezone Company Formation in UAE has the same advantages, such as complete immunity from corporation tax and complete possession. Aside from such benefits, RAKEZ provides a whole slew of opportunities to buyers. RAKEZ has launched a plethora of investment ventures that have cut through markets and socioeconomic boundaries throughout the years.
Special Company Formation Package for Budding Entrepreneurs
RAKEZ has newly unveiled a significant program to foster the entrepreneurship ambitions of recent graduates and pupils. This company configuration kit, known as the ‘Mubader Package,’ provides young entrepreneurs with a permit, workspace, and support programs. The kit costs AED 650 monthly and includes a business license and a collaborative workstation to help them get started. Final-year students and recent graduates are eligible for a business license, an academic license, an e-commerce license, a media license, and a service license.
Business Setup In RAKEZ Free Zone Package for Women Entrepreneurs
The unique kit for female entrepreneurs offered by the Ras Al Khaimah Economic Zone will be a first-of-its-kind project in the UAE. The plan costs AED 6,200 and includes a free zone permit, a sharable workstation, and numerous services and support. Female entrepreneurs who want to start a business in RAKEZ can choose between a one-year package and a three-year package. By using one of these bundles, businesswomen will be able to take advantage of additional benefits such as free use of mutual workstations, unlimited printing of business cards, preferential tokens at RAKEZ Service Centres, and qualifying for a UAE Residence Visa.
Warehouse Amenities for Manufacturers
RAKEZ has state-of-the-art warehouses for traders and industrial firms. These personalized warehouses are available in a variety of dimensions and can be updated with the permission of RAKEZ officials. RAKEZ is a top attraction for merchants and producers due to its proximity to shopping districts and top logistics hubs.
Land for Large Industry Development
RAKEZ offers chunks of land required for commercial, operational, and service sector ventures to businesspeople looking to develop major industries. With RAKEZ clearance, industrialists can develop their facilities to meet the needs of their companies. Establishing major industrial projects on RAKEZ lands have additional benefits such as well-paved road networks, connections to utilities and communications service providers, and convenient access to resources and freight handling.
List of Business categories permitted.
Opportunities for entrepreneurs include trade in commodities and products such as acids and alkalis, agricultural and veterinary pesticides, diesel fuel trading, software trading, and many other operations.
In the free region, RAKEZ is home to a slew of educational establishments and consultancies. Some of the most common types of educational firms in RAKEZ include training institutes, centres for aviation, security, hospitality and tourism, banking, finance, and so on. RAKEZ also houses educational facilities such as a kindergarten, middle school, technical school, and a development centre for ‘mind skills.’
RAKEZ offers E-commerce licenses to businesspeople who want to exchange goods and services through electronic means on the internet. Trading of supplies, foodstuff, Garments, textiles & gifts, Household, technical & private products, Jewellery & gemstones e-trading, etc. are among the main e-commerce activities permitted in RAKEZ.
RAKEZ is an excellent location for businesses focused on producing, manufacturing, shipping, and exporting a variety of goods. Top RAKEZ businesses manufacture organic chemicals, animal feed, baby food, batteries, bottled water, and other products.
List of Documents Required for Starting a Business in RAKEZ
RAKEZ's business creation method is simple and inexpensive. After deciding on a corporate activity, entrepreneurs must pick a company name. The name of the organization should never be sacrilegious, nor should it include any negative or religious references. After deciding on a business name, you can apply for a permit. The following documents are available for RAKEZ business registration:
• Business strategy
• Shareholders / board resolution resolving establishment of a company in RAKEZ and appointment of a general manager
• Original no objection certificate for general manager (if UAE resident)
• Visa copy / entry stamp of shareholders, general manager, and director
• Colour passport copies of shareholders, general manager, and director
• CV/Profile of shareholder
• Utility bill of shareholder
Step by step guide to setting up a company in RAKEZ Free Zone
1. Choose your name and activities
The first step in beginning a Business Setup in UAE is to plan your operations and choose a company name.
The operation you choose must be on a pre-approved list provided by UAE authorities. It is important that you are certain of your company behaviour before proceeding onto other steps, as this will determine the form of license that you will need. A commercial license is required if you choose to engage in commercial operation. If you want to engage in industrial production, you will need an industrial license, for example.
2. List your business needs
It is possible to apply for a standalone trade permit in the UAE. Nevertheless, you can also request for a license kit in a free zone. These arrangements provide additional benefits such as visa availability and access to co-working spaces. Your kit can also include a completely furnished office, factory, or property on which to build your own facilities. Trying to apply for a license as part of a kit via a free zone is frequently the most cost-effective way to start a company in the UAE.
3. Submit your application
It is time to submit your application after you have settled on a company name, calculated your corporate practices, and explained exactly what you need from your license kit.
If you have chosen to establish a company on the UAE mainland, you can apply to either the Department of Economic Development or the Municipality of the emirate in which you wish to do business.
4. Receive your licence
The following phase is easy. Simply wait for the paperwork to arrive. Following the conclusion of the licensing formality, your license, registration package, and bank letter will be released, and the visa application process will begin.
5. Apply for visas
Whether you have opted for a free zone bundle with a qualification for a visa, your visa application process will commence as soon as your licence has been authorised. If you want to apply for your own passport, you can once you have your trade license.
Processing of visa in the UAE begins with an approval, accompanied by a health exam and biometric capture. Since this is such a vital step in the process, it is best to consult with an advisor to ensure the submission is satisfactory to avoid delays.
• Simplified and expedited processes for establishing a business.
• Entity formations in both free zones and non-free zones are available.
• Various-sized state-of-the-art warehouses
• Plots of industrial land for large-scale industrial projects
• All government services may be found at one place.
• Services for secretarial and business centres