Introduction
Ras Al Khaimah Economic Zone (RAKEZ) is situated in Ras Al Khaimah emirates. RAKEZ offers customizable solutions to free zone and non-free zone businesses by providing cost effective set-up packages, modern facilities and first class services. Ras Al Khaimah Economic Zone connects businesses to growing markets of Middle East, North Africa, Europe as well as South and Central Asia.
Benefits of Ras Al Khaimah Economic Zone
Followings are the benefits of formation of company with RAKEZ:
- Free Zone and Non free zone entity formations
- 100% foreign ownership
- Fast and efficient business set up processes
- Wide ranging business and industrial facilities
- Provision to build on site staff and labour accommodation
- One stop shop for all government services
- Sell service customer portal
- Connectivity to major logistical hubs and multi lane super highways
- Accessibility via an international spread of regional offices
- Easy access to markets across MENA, Europe and Asia regions
RAKEZ company setup require below license types
Ras Al Khaimah Economic Zone issues below types of license:
- Commercial license : Trading in goods & services
- General Trading license : Trading in multiple goods
- Industrial license : Manufacturing, importing, packaging and exporting products
- Service license : Conducting services or consultancies across any industry
- Educational license : Opening an education related institution or consultancy
- E-commerce license : Trading in goods and services via electronic means
- Media license : Operating media related activities
- Freelancer permit : For professionals in the fields of media and education
- Individual/Professional license : One owner with one specific speciality or expertise
Minimum share capital requirement for RAKEZ free zone company setup
Minimum share capital requirement for RAKEZ free zone company setup is AED 100,000/- and there is no requirement of submission of the share capital deposit proof to the authority.
Ras Al Khaimah Economic Zone license Cost
Commercial/Service/E-commerce license – 1 year
| Package | Visa eligibility | Cost (AED) |
|---|---|---|
| Flexi Desk BC | 0 visa | 11,440/- |
| Flexi Desk | 1 visa | 15,868/- |
| Flexi Office | 2 visas | 17,948/- |
| Serviced Office A | 2 visas | 19,155/- |
| Serviced Office B | 4 visas | 21,075/- |
| Standard Office | 4 visas | 21,408/- |
| Executive Office | 6 visas | 30,535/- |
General Trading license – 1 year
| Package | Visa eligibility | Cost (AED) |
|---|---|---|
| Serviced Office A | 2 visas | 25,105/- |
| Serviced Office B | 4 visas | 27,655/- |
| Standard Office | 4 visas | 27,358/- |
| Executive Office | 6 visas | 37,535/- |
Media license – 1 year
| Package | Visa eligibility | Cost (AED) |
|---|---|---|
| Flexi Desk BC | 0 visa | 8,240/- |
| Flexi Desk | 1 visa | 12,668/- |
| Flexi Office | 2 visas | 14,748/- |
| Serviced Office A | 2 visas | 15,755/- |
| Serviced Office B | 4 visas | 18,305/- |
| Standard Office | 4 visas | 18,008/- |
Types of office available in RAKEZ
Following types of facilities offers by Ras Al Khaimah Economic Zone:
- Co-working space : Ideal for freelancers, startups and entrepreneurs
- Serviced Offices : A new type of co-working space in premier business centers that offers permanence and privacy
- Standard Offices : Cost effective private office spaces for SMEs opting to build a strong market presence
- Executive Offices : Larger private office space for growing companies looking to accommodate a bigger team of people
- Shell & Core Offices : Undeveloped facilities ready to be fully customized according to your needs
- Warehouses : Customizable warehouse of various sizes in proximity to seaports and airports
- Land : Unlimited land space to build facilities intended for large-scale industrial operations
- Staff and Labour accommodation : Convenient on site housing for male workforce at industrial zones
Ras Al Khaimah Economic Zone visa cost
| Sr. No. | Particulars | Cost (AED) |
|---|---|---|
| 1 | Pre-approval | 100/- |
| 2 | E-channel registration | 2,200/- |
| 3 | Residence visa (Investor/partner) | 3,950/- |
| 4 | Residence visa (Employee) | 3,000/- |
| 5 | Refundable deposit (Applicable for Employee visa only) | 2,000/- |
| 6 | Medical examination | 850/- |
| 7 | Emirates ID | 375/- |
List of documents required for RAKEZ company setup
- Passport copy
- UAE entry stamp
- Visa copy (If UAE resident)
- Emirates ID copy (If UAE resident)
- No objection certificate (If UAE resident)
- Business Plan (Only for specific activity)
- Passport size photograph
- Latest utility bill as address proof
Timeline
| Sr. No. | Particulars | Working days |
|---|---|---|
| 1 | Security approval | 5 to 7 days |
| 2 | Issuance of trade license | 3 to 5 days |
| 3 | Issuance of establishment card | 5 to 7 days |
| 4 | Issuance of entry permit | 7 to 10 days |
| 5 | Medical and Emirates ID | 1 day |
| 6 | Final visa copy | 3 to 5 days |
RAKEZ free zone license renewal cost
Ras Al Khaimah Economic Zone company license cost shall be AED 1,000/- less the package selected at time of company formation.
RAKEZ license Amendment
The company amendment can be done at any time and the personal presence of the shareholder/manager is required for the most of amendments.
Ras Al Khaimah Economic Zone company liquidation
RAKEZ company liquidation charges shall be AED 4,000/- approx. and it takes minimum 1 month to complete the whole process.
Conclusion
Ras Al Khaimah Economic Zone (RAKEZ) is suitable for industrial, manufacturing or assembling business because of its readymade facilities. RAKEZ offers attractive packages for company formation and investor can form it with minimum AED 11,500/-.
