The Ras Al Khaimah Economic Zone (RAKEZ) is a free zone jurisdiction, located in the Emirate of Ras Al Khaimah (the northern emirate of UAE). The RAKEZ has effectively become a top draw for global entrepreneurs as business people from over 100 countries have established their companies in RAKEZ free zone. Apart from being a top contributor to Ras Al Khaimah’s economic growth, RAKEZ has been home to more than 14,500 companies from a wide variety of sectors.
RAKEZ offers a favorable business formation ecosystem for freelancers, SMEs, and large Multinational Companies (MNC) from more than 50 industries. Entrepreneurs here are provided with a wide variety of license types for a multitude of business activities, apart from added attractions like shared workstations, access to premier business centres that boast of top-notch admin services and IT/Telecom infrastructure. RAKEZ is committed to offering a cost-effective and world-class economic zone with customizable packages and services as well as state-of-the-art facilities.
Key Advantages of Setting up a Business in RAKEZ
Every free zone in the UAE offers common benefits like 100% exemption from corporate tax and 100% ownership. Apart from providing the investors with those benefits RAKEZ offers a slew of other advantages for the investors. RAKEZ has over the years initiated a multitude of business opportunities cutting across sectors and social barriers.
Special Company Formation Package for Young Entrepreneurs
RAKEZ has recently launched a major initiative to promote the entrepreneurial aspirations of fresh graduates and students. Called the Mubader Package this business setup-package offers the young entrepreneurs a license, a workspace, and support services. The cost of the package starts from AED 650 per month and they get a business license and shared workstation to start their business. The final year students and fresh graduates will be provided with commercial license, Educational License, Ecommerce license, Media License, and Service License.
Business Setup Package for Women Entrepreneurs
The Ras Al Khaimah Economic Zone’s special package for women entrepreneurs is considered as a first of its kind initiative in the UAE. The package comes with AED 6,200 with installment plan options, a free zone license, a shared workstation and various support services. Women entrepreneurs who plan to form their company in RAKEZ have the option to choose from either a 1-year package or a 3-year-package.
By choosing either of these packages businesswomen can avail other services like free usage of RAKEZ shared workstations, free printing of business cards, priority tokens at RAKEZ Service Centres and eligibility for a UAE Residence Visa. Those who opt for the 3-year-package can enjoy the added benefit of one free investor visa.
Warehouse Facilities for Manufacturers
RAKEZ offers state of the art warehouses for traders and companies concentrating on manufacturing. These customized warehouses come in various sizes and can be modified after getting approval from RAKEZ authorities. Proximity to retail districts and top logistics hubs makes RAKEZ a top draw for traders and manufacturers.
Land for Development for Large Industries
For entrepreneurs who want to set up large industries, RAKEZ provide plots of land which can be used for industrial, logistical and service industry projects. With the approval from RAKEZ, industrialists can get flexibility to build their facilities as per the needs of their businesses. Setting up large industrial projects in these lands in RAKEZ will provide added advantages like well paved road networks, link to utility and telecommunication service companies, and easy access to manpower, and cargo handling.
Popular Types of Business Activities in RAKEZ
Entrepreneurs are offered with opportunities in trading of services and goods including Acids & alkaline trading, agricultural & veterinary pesticides trading, diesel fuel trading, Software trading and many more activities.
RAKEZ is home to a slew of education-related institutions or consultancies in the free zone area. Some of the main type of firms related to education in RAKEZ includes training institute or centres for Aviation, Security, Hospitality& tourism, Banking & Finance etc. RAKEZ is also home to educational institutions like Kindergarten, primary school, vocational school, and ‘mind abilities’ development centre.
RAKEZ provides E-commerce license for entrepreneurs who want to trade goods and service in the electronic means powered by the internet. The major e-commerce activities permitted in RAKEZ include trading of equipment, foodstuff, Garments, textiles & gifts, Household, professional & personal goods, Jewellery & precious stones e-trading etc.
RAKEZ is an ideal environment for business activities focusing on manufacturing, importing, packaging and exporting of various products. Top companies in RAKEZ deal with manufacturing of agricultural pesticides, animal feed, baby food, batteries distilled water etc. Businesses related to the packaging industry in RAKEZ focus on fruit canning & packaging, herbs packaging etc.
Media firms that are looking for a vibrant environment to set up their creative businesses find RAKEZ an ideal free zone. The main media-related businesses operating in RAKEZ include advertising and PR agencies, graphic design, costume design, production consultancy management firms, music production, distribution, music publishing& copyright companies.
Business Setup Consultants in RAKEZ?
Choosing Ras Al Khaimah Economic Zone (RAKEZ) to set up your free zone company in UAE is a wise decision as it comes with a lot of benefits including special packages for young entrepreneurs, women, and large manufacturing industries. The state of the art facilities in RAKEZ are sure to offer you an ideal environment for establishing your business. The process of opening a company in RAKEZ is straightforward but seeking the help of a business consultant would save you from unnecessary delays and the trouble of documentation. Jitendra Business Consultants (JBC) can guide you in all the process of setting up a business in RAKEZ as JBC is well equipped with a highly qualified team of business consultants in UAE.
List of Documents Required for Starting a Business in RAKEZ
The process of company formation in RAKEZ is smooth and cost-effective. The entrepreneurs are required to choose a company name after selecting the business activity. The company name should not be blasphemous nor should it contain any offensive or religious references. After choosing the company name one can apply for the license. The following documents are required for the company registration process in RAKEZ:
- Business plan
- 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 copy of shareholders, general manager, director
- CV/Profile of shareholder
- Utility bill of shareholder