There are numerous free zones in the UAE, each dedicated to the specific place’s economy. The RAK free zone is also one of the most popular free zones in the UAE.
Investors get the benefit of 100% ownership. However, like most of the cities of the UAE, the process of business set up in Ras Al Khaimah free zone is slightly complex. Any business planning to set itself in Ras Al Khaimah needs to ensure that they are clear with the papers.
The Ras Al Khaimah Free Zone is also known as RAKEZ and is one of the most prominent places for business setup. Due to its strategic placement, businesses can eventually proceed with trade easily. In a very short time, Ras Al Khaimah has become the center of attraction for most business owners. Even if you don’t own a business and are a freelancer, there are certain regulations you need to cater to.
RAKEZ allows easy business setup and there are around 50 industries. Business Link UAE can ensure easy business setup in RAKEZ. Foreign nationals aren’t aware of the laws of the country. Hence, we can ease the business establishment process for you. After Dubai, RAKEZ is one of the fastest growing free zones, offering business opportunities to several growing investors. Since it is a growing market, investors from North Africa, Middle East and Europe can easily get into investing here.
International trade companies are very much welcomed. Since the laws are very strict here, operating business in Ras Al Khaimah saves you against fraudulent activities. It is one of the most consistent spaces that is bringing about constant growth. With effective modern setup, foreign investments will only help the market grow. Moreover, the businesses will also get the opportunity to grow with their full-class potential.
The strategic location and cost-effective packages have made RAKEZ and extremely favorite choice among foreign investors.
The establishment of new free zones have only helped to accelerate the businesses in UAE. In today’s time, it’s one of the fastest growing trade zones. One of the most notable features about the RAK free zone is that in today’s time there are more than 12,000 companies from different countries. All these companies are significantly flourishing thereby bringing benefits. Moreover, the rates on incentives are the lowest in RAKEZ free zones.
With the customized services, the customers will be allowed to operate freely based on the services given by investors. The geostrategic location has made it an effective business zone. The success of RAK Free zone is attracting investments from the emerging markets or investors from Africa, Europe and Southeast Asia. It is just an hour away from Dubai and has an international airport. Apart from access to international airports, there are seaports too. The Saqr Port falls under RAK Free zone thereby making it one of the largest ones of the market.
The company formation process in RAK Free zone becomes extremely easy when you have a local agent with you. Business Link UAE is familiar with all the rules and regulations and will thus help you set up a company in the economic zone to ensure a smooth and effortless task. Moreover, you can keep a check with the business consultants.
Being experts in the field, Business Link has been catering to the needs. As per the rules of the government, it is necessary to set the permit cost. The professional consultancy will only ensure a smooth company registration process.
Benefits of RAK free zone company setup
Foreign investors in RAK Free zone can get extensive advantages especially in terms of tax exemptions. Moreover, setting up the company will come with its own benefits. Some of the common benefits of company formation in RAK Free zone include the following
- All the businesses operating in RAK Free zone can function freely and flexibly. This plays an important role in maintaining transparent laws.
- All the major trade centers are located close to the international airport.
- It is one of the most affordable zones to start your business here.
- It is extremely easy to regulate the businesses here with around 1.2 billion consumers being attracted here from the Middle East and Africa.
Setting up a RAK free zone company can be extremely beneficial. It offers several benefits of initiating foreign exchange transactions and boosting zone facilities. A local business consultant however can be of great help for starting the business. Moreover, the proximity to international airports and seaports is proving to be extremely beneficial. It is advisable to follow the basic steps carefully for starting the business.
However, depending on the requirement, experts recommend working with local professionals. It is advisable to follow the basic steps to clarify the steps and proceed with it. The experts can eventually help you with the entire process. However, make sure to have the basic minimum investment requirements.
How to set up a company in the RAK free zone?
If you want to set up a company in RAK free zone, it is advisable to follow the basic steps. Getting your business registered will play an important role in enhancing the regulation process. The step by step guide to set up a company in RAK free zone area include the following
Choose business activity
It is necessary to have a proper business activity in this area. There are certain trade regulations for starting your business in RAKEZ. The three common business activities regulating the RAK free zone include professional, industrial and commercial. Hence, it is advisable to choose one that will suit your needs the most.
Moreover, you can also set up retail, industrial and general businesses in this area. Depending on the type of business you set up, you will need to apply for the license too. Some of the common types of business which can easily be regulated in RAK free zone include accounting, management and more. Business Link UAE is a popular business consultant that allows business regulations. We can help you set up your business easily.
The industrial activities revolve around manufacturing, processing and packaging the products. Even if you are a freelancer, you can easily set up a business in the RAK free zone. You will be eligible for conducting business across media and education.
Choose the legal form
You cannot start a business in the RAK free zone if you do not have proper legal forms. Therefore, it is necessary to determine the kind of business entity you want to set up in RAK. Depending on the requirement, you can eventually set up the business for your activity. Once you know the type of business and its nature, it becomes easy for you to choose the legal status.
Name of the business
The name of the business is its identity. Therefore, you need to choose a business name that is unique. Moreover, the name of the business you choose should also cater to the rules and regulations of the RAK government.
Religious blasphemy is unacceptable in this region. Therefore, make sure to avoid names that may offend any individual or their individual beliefs. Therefore, you can’t set up business here if your business contains your initials. Once you choose the business name, you need to check with the officials if any business with the same name is mentioned or not.
Apply for Visa
The foreign individuals setting up business in the RAK free zone need to apply for a visa. Business consultants can assist you in the process of getting a visa services for your Business. Moreover, it is advisable to check with the rules of available business licenses.
No business can operate in the RAK free zone without a proper license. Therefore the stakeholders need to apply for the license. The approval will be given by the Department of Economic Development. Moreover, they will also guide you through the process. However, it is necessary to apply for a license only in the particularly mentioned business activities.
The common types of license you can apply for to operate your business in RAK free zone include the following:
- Consulting and Service License and Real Estate License
- Commercial License
- General Trading License
- Industrial License
As the name suggests, every business can function as per the given license. It is necessary to understand which category your business falls in to regulate the activities carefully.
Rent the space
Office spaces are available for rental in the RAK free zone. Depending on your requirement, you can easily rent out a physical space. You can rent the official business space by visiting the Monitoring and Consumer Protection Administration within the Department of Economic Development.
The business authority can also reach out to specific business locals to carry on with the business. You need a space to conduct the business activity. The businesses will be granted license only after thorough examination.
What are the free trade zone parks available?
There are many RAK free trade zone parks where businesses can operate. These zone parks allow the regulation of small and large businesses. The zone parks include the following
- Business Park
The spaces in business parks are available at affordable rates. It is an already developed business center where businesses can easily operate.
- Industrial park
This space is beneficial for heavy industries and warehouses.
- Academic zones
This space is only for educational organizations.
- Technology park
This is beneficial for lighter industries involve in automated manufacturing.
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