RAK Freezone Company Formation & Business Setup

RAK Freezone

RAK Freezone Business Setup

RAK Freezone Company Formation & Business Setup

Ras Al Khaimah Free Trade Zone (RAK FTZ) was established in the 2000s and has, since then, been growing as a cost-effective and convenient free trade zone in the country. Being home to more than 12,000 companies from as many as 100 countries with 50 industry sectors at the least, Rak Al Khaimah is a perfect place for living and conducting business. This free zone offers great incentives at rates lower than other emirates.

At Idea BiZone, our skilled and dedicated team will assist you in every way possible in setting up your business in the RAK free zone. Trust us because we will take everything into our hands, making your entire process of business setup hassle-free!

Why RAKEZ Free Zone?

Located at what is known as the heart of Ras Al Khaimah, in the UAE, the RAKEZ, Ras Al Khaimah Economic Zone stands as a major industrial hub and powerhouse, offering amazing solutions for non-free zone and free zone businesses in more than 50 sectors in the flourishing community.

Being a project of the Ras Al Khaimah government, our authority serves businesses in multiple ways, including supporting entrepreneurs, startups, industrialists, and SMEs in setting up their businesses in line with the requirements. They offer numerous customizable facilities and licenses and top-class support services like visa facilitation.

To make it easier, at Idea Bizone, we aim to support businesses run in the UAE with ease while ensuring complete compliance with the regulations and rules set by the UAE.

RAKEZ Zones

RAKEZ offers the best environment to set up your business in the UAE. Six dedicated zones are designed to cater to the needs of all types of companies. These six zones we cover.

1. Al Ghail Industrial Zone

This zone is ideal for those who want to establish large-scale industrial manufacturing enterprises.

2. Al Hamra Industrial Zone

Al Hamra industrial zone is set for the light industries and covers heavy industry-related projects.

3. RAKEZ Academic Zone

The RAKEN academic zone is perfect for service providers and industrial and educational services.

4. Al Hulaila Industrial Zone

Businesses that lean on the heaver industrial manufacturing side can benefit from this zone.

5. Al Nakheel Business Zone

This business zone is a modern choice for freelances and SMEs consisting of top-class business centers.

6. Al Hamra Business Zone

This business zone is developed at an ideal location between the center of the city and its neighboring emirates.

Advantages of Setting a Business in the RAK Free Zone

RAKEZ tends to be one of the best options for people who want to set their businesses in a UAE-free zone. Being one of the most cost-effective free zones in the UAE, it offers several benefits to investors. These benefits are covered below.

RAKEZ Free zone is amongst the most cost-effective free zones in the world. The cost of land and living in Ras Al Khaimah is also relatively inexpensive.
RAK free zone allows the formation of free zone and non-free zone entities.
Companies in the RAK free zone are granted 100% foreign ownership and tax exemptions (including VAT) with absolutely no restrictions on the exchange of foreign transactions. All other free zone facilities are also offered.
The business setup process in RAK free zone is speedy and efficient.
RAK free zone offers wide-ranging industrial and business facilities to the companies.
The regulations and laws for businesses operating in the RAK free zone are transparent and flexible.
RAK free zone is your one-stop-shop, covering all the services offered by the government
RAK free zone also supports a self-service customer portal for ease
The zone offers excellent connectivity to all superhighways and major logistical hubs in the area
RAK free zone has a strategic geographical location with access to more than 1.2 billion consumers.
The RAK free zone also offers easy access to the markets across Europe, MENA, and Asia.

Types of Licenses Offered in RAK Free Zone

The available licenses in the RAK free zone for company formation are these:

1. RAK FTZ Consulting and Service License and Real Estate License

This license permits holders to conduct activities including investment, finance consulting services, legal issues, management, economies, etc. Other activities covered under this license include catering services, food or restaurant outlets, insurance, travel agencies, freight and cargo forwarding, etc.

2. RAK FTZ Commercial License

With this license, different commercial activities are covered, including export, import, distribution, and storage of the items mentioned on the permit.

3. RAK FTZ Industrial License

This license is needed for business activities like manufacturing, raw material import, assembling, processing, packaging, and exporting finished goods. To get this license, you need to get RAK FTZ Feasibility and environmental impact studies clearance.

4. RAK FTZ General Trading License

This general trading license is really a commercial license that lets users conduct different activities like import, export, distribution, warehousing, etc

How to Setup Company in the RAK Free Zone

Follow the steps below to set up a company in the RAKEZ free zone.

1. Select Business Activity

The first step in setting up your business is determining your company’s business activity. You can choose between commercial, economic, industrial, and professional activities. Industrial, general, and retail businesses involve the selling and trading of goods to end consumers or businesses. You can also choose professional companies that offer personal services or industrial companies that work with the manufacturing, processing, and packaging of goods.

2. Choose the Legal Form for your Business

Next, you have to decide on your corporate entity. You can select one that matches your business activities from the ones mentioned above. After determining the nature and type of business, you have to choose the conditions of legal status.

3. Determine Business Name

The next step is to decide upon a business name. The name should be according to the regulations and rules set by the free zone authority.

4. Get Your Business License

After the approval of the relevant authorities is obtained, the stakeholder should go-ahead to fill the requirements of getting a business license. Before getting your business license, you need approval from the DED, permitting you to conduct business activities mentioned on your license.

5. Apply for the Visa

Another of the requirements to set up a business in the RAKEZ free zone is to get a visa. Getting a visa is easier if you take help from experts who specialize in the field. We at Idea BiZone, are here to help you through the entire process.

6. Rent Office Space

Finally, the last step of setting up business in the RAK free zone is renting a physical office to operate your business activities. The stakeholder or business owner needs to select the office space and rent it after visiting DED’s monitoring and consumer protection administration.
If you want to set up your business in Ras Al Khaimah Free Trade Zone, we are here to help you through. We will assist you through the complete process of registration and setting up your business.

Documents Required to Set Up a Company in RAK Free Zone

In order to set your company in the RAK free zone, you will be needing the following documents. However, if you want to ensure a hassle-free process of setting up your company, let us handle everything for you.

Visa and passport copies of all the manager and partners
Application Form
Your Business Plan
NOC (it is applicable if the manager holds the UAE visa)
Specimen Signature
Client Confirmation Letter

How to Get RAK Free Zone License

With our simplified business setup process, you can quickly start your business in as easy as just three steps once your license is acquired. Here are the three simple steps.

1. Select Your Package

Our business development professionals will help you select your suitable type of license, legal entity, and facility. This is the first step to getting your license.

2. Submit Documents and Application

Once your license type, legal identity, and facility are decided, you need to fill out the application form and submit the necessary documentation. Our skilled team of experts will help you fill out your application and collect all the required documents.

3. Receive Your License for Business

Once you have completed the license formality, your registration set, license, and bank letter will be issued and handed to you. From here, the process of visa application will start.
At Idea BiZone, our dedicated team is always ready to help with our continuous support from the process of registration to the formation of your company. We offer comprehensive support for the entire process, promising to stay with you till the end.

Cost of Setting Business in RAK Free Zone

Ras Al Khaimah Free Trade Zone authority sometimes runs discounts and promotions for customers. The prices are reasonable, starting from roughly AED 8,000 for a zero visa media company. At Idea BiZone offer you our reliable services at the most reasonable prices, covering everything you need to set up your business in this zone. Contact us today to get your consultation.

Why Choose Idea BiZone?

Idea BiZone, with its years of experience and the dedicated expert team, boasts its support for its customers in every legal matter. Our continuous support extends from deciding upon the idea of setting up a business in the RAK free zone to its establishment and working. Our comprehensive support extends to clever every license covered under the RAK free trade zone, along with complete assistance throughout the process of registration and document attestation and submission. Our dedicated team of experts will ensure that your business runs in line with the rules and regulations of the UAE.

RAK Freezone

RAK Freezone Business Setup