RAKEZ - Ras Al Khaimah Economic Zone (ex. RAK FTZ)

Overview of RAKEZ (ex. RAK FTZ)

RAKEZ stands for Ras Al Khaimah Economic Zone. This free zone is widely regarded as one of the most well-known and attractive for business setup in the UAE both within the Emirates and abroad. It is situated not far from RAK Airport and has a seaport in close proximity, which makes for a very strategic location.

Ras Al Khaimah Economic Zone is home to over 18,000 companies including entrepreneurs, SMEs, freelancers, startups, and manufacturers. It is a global-scale business and industrial hub covering over 50 industry sectors supporting free zone, non-free zone, off-shore, and mid-shore free zone company setups. 

RAKEZ business license is highly trusted among Dubai banks so it will be easier and faster to open both personal and corporate bank accounts.

It was established after the consolidation of 2 free zones – Ras Al Khaimah Free Trade Zone (RAK FTZ) and RAK Investment Authority (RAKIA). This merger resulted in a very large free zone with diverse services. 

RAKEZ consists of 6 different field-specific zones, namely:

• AL Ghail Industrial Zone dedicated to massive industrial manufacturers;
• Al Hamra Industrial Zone suited for enterprises in light and heavy industry sectors;
• RAKEZ Academic Zone hosting top international education institutions and service providers;
• Al Hulaila Industrial Zone meant for heavy industry producers;
• Al Nakheel Business Zone which includes top-notch business centers for freelancers and SMEs; and
• AL Hamra Business Zone which is a business space with access to commercial, industrial, and logistics hubs, as well as entertainment and residential facilities.

If you are looking for a UAE free zone company setup, try RAKEZ or compare it with some other options in the market by yourself or with the help of professional business consultants.

Why choose RAKEZ for your business?

• 3-year license package with discounts and free visas (limited-time offer)

• Special product for women entrepreneurs called BusinessWomen with prices 40% lower 

• RAKEZ’ new Global Product - Mid-Shore Free Zone Company - blending benefits of both Offshore and Free Zone setups

• RAKEZ business license is widely accepted by Dubai and UAE banks

• Only 9% corporate tax on profits starting from 375,000 AED, tax exemptions and Small Business Relief program 

• 100% ownership of your company 

• Offers ready-made warehouses and industrial land plots for starting and developing manufacturing business

• Supports numerous business activities 

• Company setup within 1 week after obligatory security approval

• Representative offices in Dubai, Abu Dhabi, Turkey, India, and Germany for eliminating the need to go to Ras Al Khaimah 

• Establishing companies as free-zone or non-free-zone depending on the activity type

• Allows for opening Tourism business that cannot be registered as a free zone setup

• Cost-effective license packages with a flexi desk as a minimum office facility requirement

• Perfect choice for starting an industrial, manufacturing, or assembling business due to a selection of warehouse facilities and industrial land plots

• Ideal for an executive office outside Dubai as a good chance to save on rent 

• Two-year residency for you, your employees, and family members

RAKEZ facilities

Ras Al Khaimah company formation would be a good option for any business, but especially for entrepreneurs who need warehousing facilities. RAKEZ offers plenty of ready customizable premises for storage and staff accommodations as well as land plots suitable for development. These premises have all the benefits that Jebel Ali company setup offers but suit much smaller budgets.

Ras Al Khaimah Economic Zone has offices in RAK and Abu Dhabi. You can opt for a flexi-desk or a smart office in any of these emirates. In Abu Dhabi, the cost will be about 2,000 AED higher. Office types vary from co-working spaces with flexi-desks to executive offices and are tied to the number of eligible visas.

RAKEZ business activities

Ras Al Khaimah business license can be obtained for a variety of business activities.

The activity array of RAKEZ is one of the broadest compared to other UAE free zones. Activities are divided into license categories that in turn are divided into multiple groups, each with its own activity list.

Some activities require a company manager to have a relevant educational degree, which should be proved by a certificate attested in UAE Embassy in the country of origin. Usually such activities are related to a professional service that requires certain qualifications, for example:

• Accounting and bookkeeping
• Architectural design and consultancy
• Aviation consultancy
• Communication engineering consultancy and many more.

RAKEZ has enforced substance requirements and many activities now fall under it. They will need to be registered under special conditions, such as:

• Dedicated office space or a warehouse
• Submission of a business plan
• Having a company manager on the company resident visa

RAKEZ licenses

Ras Al Khaimah Free Trade Zone Authority often runs promotions and discount campaigns. The prices are reasonable starting from 5,499 AED for a zero-visa company with a 1-year contract.

RAKEZ also has a special product for women called BusinessWomen with prices 40% lower than usual. If you are a woman, you can pick any package and any activity and simply pay less!

Apart from that, if you want to save money in the long run, you can register a 3-year package. The discount in this case will be 25%. On top of that, all resident visas under the company will be free of charge.

Here is a table with licenses offered by RAKEZ:

RAKEZ license cost

RAKEZ cheapest license package fees:

In addition, the 1 visa starter package allows for a combination of General Trading and E-Commerce licenses. You can choose either of them as the primary license, and the other one will come free of charge.

Overview of RAKEZ Global Product

RAKEZ offers a Mid-Shore Free Zone Company, blending benefits of both Offshore and Free Zone setups. This model is ideal for international investors and allows for company re-domiciliation to RAKEZ. The Business License Package supports various activities, including commercial services, e-commerce, media, and RAKEZ industrial licenses, with options for co-working spaces, physical offices, warehouses, and leased land.

Business package details

Benefits

• Remote company setup without physical presence

• Easy registration and renewal via RAKEZ Portal

• UAE residence visas and bank accounts in the UAE banks

• No corporate tax and access to 100+ double taxation treaties

RAKEZ Global Product is ideal for holding companies, trading, e-commerce, and industrial manufacturers.

RAKEZ company formation process

Business setup in Ras Al Khaimah can be done within about a week. Your personal visit will be required, but you don’t have to go all the way to Ras Al Khaimah - you can visit the zone’s representative office in Dubai.

Company formation types in RAKEZ include FZEs (Free Zone Establishments) with a single shareholder, FZCs (Free Zone Company) with 2-5 shareholders, and branches of both local and foreign companies.

RAKEZ also has international offices in India, Turkey, and Germany, where your application can be filed.

The Ras Al Khaimah company register is not open to the public and kept confidential.

In case your setup is rejected due to any force majeure reason after you have made the payment to the free zone, you will be granted a 100% refund. This adds up to the RAKEZ free zone benefits and explains why entrepreneurs from around the globe choose to set up company RAKEZ.

Streamlined and quick company registration in RAKEZ

1. Contact our expert and schedule a free consultation either online or at the Emirabiz office. We will discuss your case and find the perfect setup for your business. 

2. Send the documents to your dedicated consultant and pay the license issuance fee. In some cases, we need only the photocopy of your passport (!) We will help to collect and prepare all the required papers and send them to the authorities of the free zone. 

3. Receive your new company incorporation documents, your visa, Emirates ID, and apply for a bank account.

RAKEZ residence visa: procedure and cost

Packages start with zero visas and go up to 4 visas in case you rent a ready-made executive office. Of course, if you rent a warehouse, for example, your company will be eligible for more visas since you’ll need to hire more staff.

RAKEZ visa costs

Health insurance is not mandatory for RAKEZ company owners, but it will be required for the dependents in case you open visas for your family members.

RAKEZ Family visa

To bring your family to the UAE and obtain dependent visas, you must:

• Rent an apartment in the UAE.
• Attest the marriage certificate and your children’s birth certificates at the UAE Embassy in your country and the Ministry of Foreign Affairs of the UAE.
• Translate the marriage and birth certificates into Arabic.

RAKEZ company license renewal

Ras Al Khaimah business license renewal costs 1,000 AED less than the incorporation. Renewal can be done without the personal presence of the shareholder.

RAKEZ requires financial audits of the companies. You need to submit it at the end of your financial year, which would be December by default or another month of your choice.

RAKEZ company renewal procedure

Submit an application form >> Pay the renewal fee >> Receive your license

RAKEZ Company amendments and regulations

The company can be amended at any time. The most frequently happening amendments include the following changes:

• Shareholders/managers
• Company name
• Business activity
• Office facility

Personal presence of the shareholder or manager is required for the application for the amendments.

RAKEZ company amendment procedure

Visit RAKEZ’ representative office >> Pay the amendment fee >> Receive the amendment confirmation.

RAKEZ company liquidation

Ras Al Khaimah free trade zone company liquidation takes about 3-4 weeks. Make sure to cancel all the visas under the company before you apply for its liquidation.

The government cost of company closure is 3,500 AED.

RAKEZ company liquidation procedure

Cancel the visas >> Visit RAKEZ’ representative office with the originals of your documents and the signed cancellation form >> Receive liquidation confirmation.

Business setup expert's opinion

Overall, we usually recommend RAKEZ business setup to those who are looking to open an industrial, manufacturing, or assembling company due to its ready-made facilities. It can also be recommended to individual professionals, startups, and SMEs as it offers flexi-desks, co-working spaces, and offices.

Apart from that, if you want to have a physical office and do not require a location near Dubai, RAKEZ would be a perfect choice as well.

If you are residing in Abu Dhabi and want to have an office facility with a reasonable price there, RAKEZ is also the free zone of your choice.

If you want to check other options, have a look at SHAMS company formation as a possible alternative or seek professional consultancy.